Solutions
LCH.Clearnet, the largest clearer of over-the-counter products globally, has launched an interest rate swaps clearing service for the buy-side.
For the first time, institutional investors are able to access central clearing for OTC interest rate swaps via SwapClear, the only global clearing service for OTC interest rate swaps.
Developed in close collaboration with significant buy-side market participants and dealers, the SwapClear Client Clearing Service has been designed to offer a unique level of security to buy-side clients in the case of a bank default through margin segregation and portability of contracts.
Subject to regulatory approval, the list of dealers committed
Holland Park Risk Management, a risk management adviser to pension fund managers in the US and Canada, has signed a three-year contract for Algo Risk Service, Algorithmics’ outsourced risk management and portfolio construction service.
HPRM offers consulting services to improve its clients’ risk practices, as well as ongoing risk monitoring and reporting services.
HPRM will use Algo Risk Service as its third-party provider of risk analytics for its clients’ portfolios and will overlay its advisory services on top of the risk analytics and results generated by Algorithmics.
Valter Viola, president of Holland Park Risk Management, says: “Algorithmics’ Algo Risk
SEI is collaborating with long-standing partner RiskMetrics Group to provide its clients with independent risk management and reporting services that will integrate directly into the company’s flexible Manager Dashboard tool.
The new offering enhances SEI’s risk management solution and further addresses investment managers’ needs for greater transparency and detailed risk reporting amid growing investor demands and regulatory complexity.
As a result of the affiliation, SEI’s investment manager clients will be able to join RiskMetrics’ HedgePlatform Community, a network of hedge fund managers, fund of hedge fund managers and institutional investors.
As members of the HedgePlatform Community, SEI’s clients will
Russell Investments has selected Nasdaq OMX as the primary source of real-time index values for Russell’s global and ex-US indexes.
Nasdaq OMX will begin disseminating real-time values for the Russell Global Indexes on 11 January 2010 via its index service, the Global Index Data Service.
GIDS is designed to facilitate performance and portfolio valuation due to its frequent dissemination of index data.
It supports a diverse array of Nasdaq OMX-branded indexes that cover equities, bonds, commodities and exchange-traded funds, as well as third party partnered indexes.
"Russell and Nasdaq OMX clients worldwide will have instant access to our comprehensive global
SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P. Morgan and BNP Paribas, has expanded its pan-European mid cap service.
From January 2010 the SmartPool product universe will be expanded to include the constituents of the following European indices: FTSE All Share Index (UK); CDAX Index (Germany); AEX All Share (Dutch); and CAC All Share (French).
As a result of this expansion, the total number of securities traded on SmartPool will increase by 110 per cent.
Launched in February 2009, SmartPool offers trading in the leading indices of the 15 European equity markets traded
BNY Mellon Alternative Investment Services has launched a service that independently validates a hedge fund’s position records to third parties and verifies the pricing of that fund’s securities.
The new service provides fund managers and their investors with greater transparency and additional assurance that fund assets are independently priced and validated.
The service, with pricing and validation coverage across 50 asset classes, is enabled by BNY Mellon’s relationships with more than 150 prime brokers and counterparties.
It can be used to supplement client interface with accountants and independent auditors and can also be customised to meet specific requirements, including
Gravitas, a technology solutions provider and business consultant to the alternative investment and financial services industries, has released the first suite of cloud services designed exclusively for alternative asset management firms.
Gravitas’ cloud computing service provides virtual server hosting at secure offsite co-location facilities and hosted applications including email, mail compliance, remote data backup and Voice over Internet Protocol services on a per user, per month basis.
The service also gives asset managers the ability to add computing capacity as it is needed, giving them the ability to scale to very large environments on demand.
“Alternative asset management firms
Quod Financial, a provider of adaptive trading execution technology, has pre-loaded its Adaptive Smart Order Router with a library of trading algorithms for better execution and lower market impact.
Ali Pichvai, chief executive of Quod Financial, says: “The days of separate infrastructure for scheduling and execution of orders are gone. By combining the trading and liquidity seeking algorithms, QF ASOR hunts lit and dark liquidity to maximise fill rate and makes real-time decisions to reduce market impact.
“This is achieved through historical data, real-time analysis of pre- and post-trade data and the execution algorithms embedded in Quod Financial’s Adaptive Execution
NYSE Euronext’s trading volumes for its global derivatives and cash equities exchanges in November 2009 were mixed, with European derivatives and US options trading volumes increasing while US and European cash equities trading volumes fell.
NYSE Euronext European derivatives products average daily volume in November 2009 of 4.3 million contracts increased 16.4 per cent compared to November 2008, and increased 11.2 per cent from October 2009.
Total European interest rate products ADV in November 2009 of 2.3 million contracts increased 31.2 per cent compared to November 2008, and increased 16.4 per cent from October 2009 and are at their highest
Fixnetix, a provider of ultra low latency market data and trading infrastructure connectivity services, will provide trading access to EDX London and a direct market data feed for financial institutions trading in Russian and Nordic derivatives on Sola, TMX Group’s trading technology platform.
Fixnetix customers can take advantage of the company’s raw exchange access or feed handler technology to gain ultra low latency market data from EDX London’s common order book.
Fixnetix’s 10GB+ point-to-point high-speed fibre backbone infrastructure connectivity services will also make trading on EDX London easier and more cost effective.
By offering a direct feed from EDX London,
