Mainstream and industry press have written widely on the gradual withdrawal of banks - the traditional primary liquidity providers - from the spot FX markets over the past few years. The typical narrative is that reduced appetite for risk, controls on capital at banks, as well as juniorization of dealer staff have all contributed to…
Read more
Derivatives marketplace operator CME Group Inc (NASDAQ:CME) announced today it has received regulatory clearance from the Commodity Futures Trading Commission (CFTC) to provide clearing services for over-the-counter FX options. This is a significant milestone in providing our FX clients with the broadest and most capital efficient FX clearing solution in the market," said Paul Houston,…
Read more
The Board of the National Securities Market Commission (CNMV) announced that has approved, at its meeting held today, the voluntary takeover bid for the shares of Clínica Baviera, S.A. submitted by Aier Eye International (Europe), S.L.U. The offer is aimed at 100% of the share capital of Baviera composed of 16,307,580 shares of 0.10 euros…
Read more
LeapRate has learned via regulatory filings in the UK that the newly installed CFO of NEX Group PLC (LON:NXG), Samantha Wren, has been granted 39,713 shares as part of the company's Performance Share Plan. At the current share price of £6.39, the grant is worth £254,000, or USD $326,000. The award will normally vest in three years…
Read more
Vontobel has chosen Clearstream Banking as strategic partner to streamline and consolidate its third-party hedge fund processing activities. Clearstream’s investment funds processing infrastructure Vestima enables processing of all types of funds from mutual funds to hedge funds on a single platform. The current regulatory agenda has made asset safety a key concern for financial institutions…
Read more
TORA, provider of advanced cloud-based order and execution management system (OEMS), today announced that it has joined the London Stock Exchange Group’s UnaVista Partner Programme to help clients meet the transaction reporting requirements of MiFID II. When MiFID II comes into force in January 2018, buy-side firms will be required to submit transaction reports directly…
Read more
Poll of 562 asset managers reveals that two weeks before the regulation enters law, 54% of funds still feel they don’t have enough information on research unbundling, indicating that more education needs to be done. RSRCHXchange, the aggregator and marketplace for institutional research, today released headlines from the results of their latest survey analysing the…
Read more
KCG Holdings, Inc. (NYSE: KCG) today announced that it will redeem all of its outstanding 6.875% Senior Secured Notes Due 2020 (ISIN No. US48244BAC46) (the "Notes") on the business day immediately following the effective date of the Agreement and Plan of Merger, by and among Virtu Financial, Inc. (NASDAQ:VIRT), Orchestra Merger Sub, Inc. and the…
Read more
Axioma, a global provider of innovative risk and portfolio management solutions, today announced a new partnership with Omega Point, a portfolio intelligence tool for fundamental-style managers. Through this licensing agreement, Omega Point clients can now access Axioma’s suite of factor models via their existing workflow. This will enable closer alignment of modelling assumptions and risk…
Read more
wematch.securitiesfinancing, the global multi-product and multi-asset-class, web-based securities financing dealing platform and Pirum Systems, real-time STP services to the securities finance industry company, just announced their collaboration. This will enable clients to leverage wematch.securitiesfinancing expertise in electronic trading, combined with Pirum Systems' seamless connectivity to automate the post-trade lifecycle. Clients will be able to execute…
Read more