Solutions
Deutsche Börse has launched the “continuous auction with specialists” trading model for the trading of bonds on Xetra.
Initially, around 700 corporate bonds denominated in Euros listed on FWB Frankfurt Stock Exchange’s regulated and open markets will be tradable in this new model on Xetra.
Other types of bonds are to be included gradually.
The model combines the advantages of trading with the support of specialists and those of fully electronic trading on Xetra. The model allows these specialists to provide for tradability and high price quality even for small order sizes.
With this new trading model, private investors and
Concept Capital, an institutional broker and total solutions provider to the investment management industry, has partnered with SAS, a provider of business analytics software and services.
As a result of the collaboration, Concept Capital will offer a full suite of analytics that will provide integrated, multi-custodial risk and performance reporting to investment managers, family offices and investors.
With SAS risk management software, Concept Capital will significantly expand the capabilities of its flagship product, Conceptone.
“We believe there is a huge opportunity to bring an integrated solution to the market that will combine portfolio analytics and advanced risk management capabilities to
The credit default swap market has seen an emphasis on streamlined trading and reduced complexity, making the market easier to participate in and regulate, according to a report from Celent, a Boston-based financial research and consulting firm.
The report, Counterparty Risk in Non-standardized Credit Default Swaps Market, says single-name CDS volume, as a share of notional outstanding volume, has gone up since the second half of 2007 and even exceeded 2006 levels in 2009.
This underlines the important role of non-standardized CDS in the credit derivatives market and highlights the need to deal with counterparty risk for this category.
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SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P.Morgan and BNP Paribas, has migrated to NYSE Euronext’s Universal Trading Platform.
The Universal Trading Platform is a multi-market, multi-geography and multi-regulation exchange platform.
It has been developed to provide customers with greater speed and capacity, enhanced functionality, and a single point of connectivity via NYSE Euronext’s global network to access all of its cash and derivatives markets, in Europe and the US.
Lee Hodgkinson (pictured), chief executive of SmartPool, says: “SmartPool’s migration to the Universal Trading Platform is a key step in the development of
Eurex has expanded its cooperation with the European Energy Exchange, allowing customers to trade and clear EEX power derivatives via their existing Eurex access.
The new products in the cooperation comprise Phelix Base futures and Phelix Peak futures as well as options on Phelix Base futures.
Eurex says: “Thanks to their high level of liquidity, Phelix derivatives are attractive European benchmark products for Eurex participants and complement perfectly the existing offering of emission rights contracts.”
Eurex participants will be able to trade Phelix derivatives futures and options via a simplified admission process, as with the existing cooperation in
Northern Trust has launched a set of compliance monitoring capabilities that will enable clients to monitor their investments in real time according to their own investment guideline criteria.
Criteria can be created to monitor key aspects of holdings within hedge funds, such as the level of portfolio diversification, liquidity risk in the fund, investment strategy and performance attribution.
Benefits include increased automation, transparency and timeliness of information, enabling clients to assess portfolio investments more quickly and in more detail, and to identify areas where the portfolio is breaching guidelines so that action may be taken if necessary.
This is
ABC Quant has released Quant Suite 2009, an analytic platform offering solutions for hedge fund risk assessment and portfolio construction.
Quant Suite applications cover the broad range of aspects of hedge fund risk management and asset allocation including:
• Risk-return valuation across hundreds of metrics including the VaR derivatives and higher moments;
• Non-linear portfolio optimisation over various objective functions;
• Multi-factor return-based style analysis;
• Peer group comparison analysis;
• Tools for constructing custom evaluation metrics; and
• Flexible screening filters and hedge fund universe subset creation
Quant Suite has been designed for institutional investors, endowments, and medium-to-large hedge fund-of-funds.
The platform offers the access
The Tokyo Stock Exchange’s Topix futures will be listed on the NYSE Liffe market from summer 2010.
The Topix index futures contract is the benchmark Japanese stock price index already traded on the TSE.
Topix futures are actively traded by investors worldwide, who use the instrument as a way to invest in Japan’s largest stocks. Listing the contracts on NYSE Liffe will increase the number of customers who can trade the contract, and enable trading in the Topix future while the Tokyo market is closed.
The contract specifications for Topix futures traded on NYSE Liffe will be fundamentally the same
Euroclear UK & Ireland and EMXCo have launched a fully electronic and integrated order routing and settlement solution for UK fund transactions.
According to HM Treasury, the UK funds industry could save GBP70m to GBP290m per year by embracing processing automation in place of paper-based fund unit settlement.
A typical distributor settling around 10,000 transactions a month may today expect to pay up to GBP50,000 per month for administering these settlements and subsequent reconciliations.
Under the new automated service, the same distributor doing the same levels of business can expect a monthly bill for all balance reconciliation, transaction management and
The global equities business of UBS has launched algorithmic trading for international clients trading equities on the Bovespa stock exchange in Brazil.
UBS is among the first broker-dealers to offer non-Brazilian clients algorithmic trading in this major market.
UBS is launching this offering for international clients who trade Brazilian securities with three algorithms: volume weighted average price; time weighted average price; and volume inline, a strategy that enables an investor to execute an order correlated to available liquidity.
Clients can use these algorithmic trading strategies to quickly and efficiently send their electronic orders directly to the Bovespa, without passing them
