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antitrust regulators, particularly the Federal Trade Commission, have been stepping up scrutiny of private equity investments in healthcare. Originally published in Law360 - July 31, 2024. On March 5, the FTC, along with the U.S. Department of Justice and the U.S. By: Proskauer Rose LLP
Website builder Squarespace is no longer a publicly traded company, after private equity firm Permira procured all remaining common stock in the firm. Permira first revealed plans to acquire Squarespace back in May, offering shareholders in the NYSE-traded company $44 per share — this equated to an equity valuation of $6.6
Cautious deployment of M&A war chests while concerns relating to IPO and equity market trading buoyancy continue. Current market: Fewer M&A deals as Europe's FMI tectonic plates digest acquisitions of yesteryear. By: White & Case LLP
Single-stock trading and program trading in US equities are becoming increasingly interlinked, as advances in algorithmic trading blur the lines between the two. Between workflow innovation and good old-fashion inflation, the definition of program trading itself is now in flux. constituents.
The Federal Trade Commission’s (FTC) push against private equity roll-ups has hit a snag. Judge Hoyt found that the FTC had not adequately alleged that Welsh Carson “is violating” or “is about to violate” antitrust laws, as required under.
On June 6, 2024, California Attorney General Rob Bonta announced that he led a multistate coalition of eleven (11) state attorneys general in in submitting a comment letter (the “Comment Letter”) in response to the Federal Trade Commission, the U.S. Department of Justice, and the U.S. By: Sheppard Mullin Richter & Hampton LLP
In a decision with significant implications for private equity firms and minority investors, on May 13, 2024, the US District Court for the Southern District of Texas dismissed the Federal Trade Commission’s (FTC) suit against a fund of private equity firm Welsh, Carson, Anderson & Stowe (Welsh Carson) that is a minority investor in US Anesthesia (..)
The Federal Trade Commission’s suit alleging U.S. Anesthesia Partners (USAP) and Welsh Carson, a private equity fund that owns 23 percent of USAP and controls two of 14 board seats, engaged in an anticompetitive scheme to acquire and consolidate anesthesia practices in Texas partially survived motions to dismiss by the two defendants.
A recent government initiative announced on March 5, 2024 signals that more antitrust scrutiny for private equity firms and asset managers is on the horizon. By: Paul Hastings LLP
Institutional investors, asset managers and hedge funds are invited to rate the service, features and capabilities of their algo providers in The TRADE’s2024 Algorithmic Trading Survey. We encourage providers of algorithmic trading to support client participation. To participate in the survey, please click here.
The Federation of European Securities Exchanges (FESE) has suggested key principles and measures to be implemented across the industry as discussions around 24-hour trading in Europe become more prominent. The post FESE sets out stance on 24-hour trading in Europe appeared first on The TRADE.
Private equity investment in the health care sector continues to be a significant area of focus for the U.S. On March 5, 2024, the Federal Trade Commission (FTC) hosted a public workshop to “examine the role of private equity investment in health care markets” (the FTC workshop). antitrust agencies.
Duncan Trenholme and Simon Forster, global co-heads of digital assets, TP ICAP We expect 2024 to see the wholesale cryptoasset market professionalise and become increasingly serviced by traditional brands and providers. Spot Tokenisation has been a key narrative over the last 12 months, and we expect more of the same from banks in 2024. On
Aviad Axelrod has been named head of fixed income and equities (FIEQ) product for EMEA at BNY within the Global Markets Trading business, effective as of 6 January. He most recently served in an algorithmic trading and execution services role at Stifel Financial.
Market participants need global data-driven content to enhance their own products and gain deeper understanding of market shifts and liquidity dynamics, and to identify opportunities for better trading outcomes. Michelle Tran, president, TMX Datalinx Demand for high-quality and differentiated data products will intensify in 2024.
The TRADE is delighted to announce the shortlisted nominees for the Industry Person of the Year Award 2024. The winner will be decided by a live industry vote at The TRADE’s Leaders in Trading gala awards night on 7 November at The Savoy. Congratulations to this year’s shortlisted nominees!
UK asset manager Liontrust Asset Management is exploring outsourcing parts of its trading to BNY, according to an update released this morning. Liontrust and BNY declined to comment when reached out to by The TRADE. Liontrusts multi-asset desk was also nominated for the Multi-Asset Trading Desk of the Year at Leaders in Trading2024.
Rikki Corbyn has left State Street Global Advisors (SSGA) following 11 and a half years with the firm, The TRADE has learnt. Most recently, Corbyn served as equity and derivatives trader, vice president at SSGA, focused on the EMEA region, having joined the desk in December 2016.
Global head of equitytrading at Janus Henderson, Dan Royal, accepted a Lifetime Achievement Award from The TRADE last night at the first ever Leaders in Trading New York awards ceremony. Beginning his career in 1984 as an FX trading manager at Cargill, based in Chicago, his career spans four decades.
Simon Gallagher, chief executive, London and head of global sales, Euronext We think that the introduction of an anonymised, single-level pre- and post-trade consolidated tape will trigger innovations at trading venues. We see the entire post-trade space becoming more and more of a platform business. But we are seeing changes.
Digital platform FactSet is set to integrate LoopFX into its foreign exchange execution management system (EMS) platform – Portware, with go-live set for H1 2024. The post FactSet FX trading platform to integrate LoopFX appeared first on The TRADE.
Clear Street has hired four trading and execution experts into its UK leadership team as it seeks to bolster its presence in the jurisdiction. Holmes left the firm in September 2024 after five years, with his next role unconfirmed at the time. He adds: T he addition of these leaders is another major step as we activate our mission.
James Baugh, managing director, head of European market structure, TD Cowen was voted industry person of the year at last night’s glittering Leaders in Trading awards gala. Over the course of his career, Baugh has become renowned as a trusted partner to clients and for leading positive change in the European equities marketplace. He
The TRADE is delighted to announce the Rising Stars of Trading and Execution for 2024, in collaboration with Instinet – a celebration of up and coming talent on the buy-side. Please join The TRADE and Instinet in recognising this year’s Rising Stars of Trading and Execution for 2024.
Increased regulatory burdens, costs, the size of the pie, and lack of interoperability are some of the key drivers behind the underachieving equities market, according to experts at this year’s FIX EMEA Trading Conference. The post FIX EMEA 2024: Making European equities great again appeared first on The TRADE.
” The 2024 IT Nation Torch Award Honorees are: Partner Excellence Award: Abraham Garver , Managing Director at FOCUS Investment Banking, was recognized for his exceptional contributions to the IT Nation and ConnectWise communities, consistently driving value and supporting partners’ growth. million to $30 million.
The London Stock Exchange (LSEG) saw overall growth across its key businesses in 2023, with considerable improvement across data and analytics, capital markets, and in particular, post-trade. LSEG labelled 2023 an “outstanding” year for post-trade, having seen significant strategic progress. rise year-on-year as compared to 2022.
Martin Hendry, deputy head of trading, Liontrust Asset Management As we peer into the crystal ball for 2024trading, a notable shift is anticipated with the adoption of T+1 settlement for US equity transactions. Concurrently, the need for market participants to embrace technology becomes increasingly apparent.
Trading Technologies (TT) has made three new appointments to its senior leadership team, including chief operating officer; executive vice president of fixed income; and executive vice president of futures and options – all of which will join the firm on 1 January 2024.
Adam Gould, head of equities, Tradeweb Fixed income ETFs have continued to prove their worth as an extremely flexible product for investors. They’ve Steve Toland, co-founder, TransFICC Over the past few years automated trading has grown slowly in fixed income, but we expect 2024 to be the year when this really accelerates.
Samuel Henderson, EMEA equities head trader, Invesco I predict we will see increased flows into international equities and active management coming back into vogue amidst a rise in earnings and macro volatility. For all these reasons, I expect the voluntary adoption of ESTR based products to continue into 2024 and beyond.
Sadly, that is also the prediction I make today for 2024. Add in the potential banana skin of 2 billion people voting globally in elections next year, and the prospects for 2024 look fraught. After a wild run by the Magnificent 7, equity performance drivers will broaden. Such Geopolitics dangerously unpredictable. Add
BNY Mellon made two key senior managing director hires into its fixed income and equity sales and trading businesses. Bianca Gould was appointed head of fixed income and equities EMEA, based in London. Paul Battams was named head of international equitytrading at BlackRock following 23 years with the firm.
When You Need to Return Cash in order to Raise More original article sourced by Ryan Gould, Bloomberg, sourced link above The world’s private equity firms have cash to burn. Private equity players have to face reality at some point,” said Per Franzen, head of private capital for Europe and North America at EQT AB.
Eric Heliene, head of buy-side trading desk, Groupama Asset Management The intensification of financial regulation is a fundamental trend transforming the asset management ecosystem. The planned transition to T+1 settlement in 2024 and the forthcoming revision of Mifid II are poignant examples of this.
UPDATED : The consolidated tape joint venture by pan-European equity exchanges Aquis Exchange and Cboe Global Markets has been disbanded as the pair confirm their decision to step away. Read more: Will the European equities tape tender process end up as a one-horse race?
In a panel at the JSE SA Trade Connect 2024 conference in Cape Town, South Africa, panellists explored the ways in which fragmentation is impacting the trading of dual listed equities in the South African market. There needs to be [an even] playing field where everybody can do it.
As equity traders continue to seek ever more innovative ways to bolster their offerings, the rise of Alternative Trading Systems (ATSs) has followed – currently executing around 16% of all US equity volume. This huge number is understandable given the significant amount of all US equity volume being executed on ATSs.
Balraj Bassi, co-founder and chief executive officer, Tradefeedr Data analytics in financial markets has reached the point where clients have access to complete global data sets, and we see 2024 as the year where this will drive change in how counterparties interact and in automating trading workflows.
This uncertainty will lead to heightened equity volatility in 2024. On top of this, many more companies will need to refinance their bonds in 2024 than they did in 2023 and higher rates will make this an expensive exercise. When volatility rises, convertible bonds tend to outperform equities.
Portfolio trading as a concept has exploded in the last few years, egged on by market conditions and volatility brought on by the pandemic and other macroeconomic factors. Portfolio trades have historically helped many institutions to move big blocks of risk. billion in total portfolio trading volume in Q3 2023, up 11.1%
Around 45% of firms which already trade FX are planning to significantly increase their exposure in the asset class as of next year, an Acuiti report has found. Will Mitting, founder of Acuiti, said: “Proprietary trading firms are looking ahead to 2024 with optimism and planning expansion and increased investment.
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