Fixed income investing is heating up. Here are a couple stocks to play it, according to Bank of America
CNBC: Investing
JULY 13, 2023
Investors' move to reallocate toward fixed income can boost shares of certain asset managers and brokers.
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People Moves Monday: Millennium, Schroders Wealth Management, Northern Trust Asset Management and more…
The TRADE
NOVEMBER 20, 2023
Umair Khan Marwat joined Millennium as a trader, following almost two and a half years at Balyasny Asset Management. Hong Kong-based Marwat previously worked at Credit Suisse, focused on AES, algorithmic, and direct market access (DMA) trading, before joining Balyasny Asset Management in 2021 as a trader.
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Asset manager consolidation wave continues as two deals announced in 24 hours
The TRADE
JUNE 1, 2023
The near-constant stream of mergers and acquisitions across both the sell- and buy-side appears to show no signs of abating as two asset management deals have been announced in the past 24 hours. In the same week, Redburn merged with Atlantic Equities – creating a London-headquartered transatlantic broker.
People Moves Monday: RBC, UBS, Balyasny Asset Management and more…
The TRADE
OCTOBER 2, 2023
James Hilton was appointed multi-asset managing director in RBC’s low touch team, joining from Credit Suisse, where he had been serving as head of sales for EMEA for the bank’s advanced execution sales (AES) team. Prior to joining Credit Suisse in 2006, Hilton spent six years at UBS Investment Bank as a director.
Prime brokerage: The intersection of challenge and opportunity
The TRADE
DECEMBER 8, 2023
This has forced prime brokers to focus more on risk management and diversification of their client portfolios with increased regulatory pressures.” The market volatility has certainly been a defining feature of the year, for both clients and providers, and gave rise to opportunities for certain strategies, while costing others dearly. “In
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GTN appoints new equity sales trader
The TRADE
JANUARY 23, 2024
Throughout his career, UAE-based Darwish has also worked as sales trader at investment banks Credit Suisse and Commercial International Bank (CIB). GTN serves brokers, banks, asset managers, and fintech clients.
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BNP Paribas to pay €5.1 billion for AXA Investment Managers in trillion-dollar asset management JV
The TRADE
AUGUST 2, 2024
Specifically, the new entity would be a leading player in long term savings assets for insurers and pension funds, BNP Paribas said in its Thursday statement. Consolidation Most recently we saw ABN AMRO confirm it was set to acquire German private bank, Hauck Aufhäuser Lampe (HAL) from Fosun International in May.
Cboe Clear Europe gets regulatory green light to launch securities financing transactions clearing
The TRADE
NOVEMBER 25, 2024
Cboe Clear Europe has received regulatory approval to clear European Securities Financing Transactions (SFTs), granted by De Nederlandsche Bank (DNB) and the Autoriteit Financiële Markten (AFM).
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People Moves Monday: ODDO BHF, Deutsche Bank and Jefferies
The TRADE
JULY 1, 2024
Former head of market structure and liquidity solutions at broker dealer Kepler Cheuvreux Byron Griffin is set to join Franco-German financial services firm ODDO BHF. Griffin left Kepler in May after over eight years with the broker dealer. He joins as head of execution sales and microstructure.
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Untangling credit and liquidity in FX
The TRADE
SEPTEMBER 19, 2024
Historically market structure in foreign exchange (FX) has lent itself to ISDA-based, direct bilateral trading, meaning buy-side firms – in particular real money firms who don’t have the capabilities to use a prime broker model – are often locked into these relationships with banks based on credit lines. Banks are crucial.
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The TRADE’s most read stories of the year part three: Regulation, consolidation and resignation
The TRADE
DECEMBER 29, 2023
Previously in his career, he served as president and chief executive of TD Ameritrade Holding Corporation for eight years and as vice chairman of TD Bank Financial Group. Among the asset management bands that were merged were Perpetual, Pendal, Barrow Hanley, J O Hambro, Regnan, Trillium and TSW.
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Royal London Asset Management: ‘At the end of the day, they’re just really good traders’
The TRADE
JULY 17, 2024
Royal London Asset Management’s (RLAM) trading team is no stranger to change. The London-based asset manager has undergone not one but three makeovers in recent years as it continues to evolve with the demands of the street. Wheeler has worn several hats in his career to date. That’s the manual element of it.
Deutsche Bank quarterly profits fall despite 11% increase in net revenues
The TRADE
JULY 26, 2023
Deutsche Bank has reported a €2.3 The bank posted an 11% increase year on year in net revenues for the second quarter at €7.4 The results represent the highest revenue for a second quarter since 2016, said the bank, with revenue for the first half of the year up 8% overall – at €15.1
Leaders in Trading 2023: Meet the nominees for… Outstanding Non-Bank Electronic Liquidity Provider
The TRADE
OCTOBER 26, 2023
Next up in our introduction to the distinguished nominees for Leaders in Trading 2023 Editors’ Choice Awards, we bring you the shortlist for Outstanding Non-Bank Electronic Liquidity Provider, showcasing excellence in liquidity provision outside of the traditional sphere. billion compared to € 2.8 billion the previous year.
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BNY Mellon combines market offerings through Global Markets Trading integration
The TRADE
MAY 15, 2024
Read more: Fireside Friday with… BNY Mellon’s Geoffrey Yu BNY Mellon’s execution offering provides clients with access to a liquidity pool which leverages the firm’s client footprint consisting of asset managers, asset owners, alternatives, banks, broker dealers and wealth clients.
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People Moves Monday: Tradefeedr, Citi, Marex and more…
The TRADE
MAY 20, 2024
Sohoni joined Citi 19 years ago and during her tenure has overseen several business areas, including: credit financing, asset-backed securities, clean energy, global infrastructure, residential, Citi Community Capital, municipal, and Citi’s Asset Finance Group. Faenson joined Citi in 2005 as a credit valuation adjustment (CVA) trader.
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A new chapter for RBC BlueBay Asset Management’s London-based fixed income trading desk
The TRADE
OCTOBER 26, 2023
UK-based boutique fixed income trading desk BlueBay Asset Management is beginning a new chapter in its life. The move has opened up swathes of synergy opportunities for the pure fixed income asset manager, with its traders now working directly alongside RBC BlueBay Asset Management’s equities desk.
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CLSA appoints ex Morgan Stanley as algorithmic sales trader
The TRADE
NOVEMBER 27, 2023
Read more: Fireside Friday with… Morgan Stanley’s Maria Salamanca Mejia Previously in his career, McMahon worked as a centralised dealer at Bank of Ireland Asset Management, working on the multi-asset global trading desk.
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People Moves Monday: Matrix Executions, Broadridge and CLSA
The TRADE
DECEMBER 4, 2023
Former director at Cboe Global Markets, Michael Sparacino, has left the exchange operator after less than two years to re-join agency only broker-dealer Matrix Executions. He re-joined the agency only broker-dealer after also previously serving as a director for almost three years from 2019 to 2022.
Is Singapore set to become the next major trading hub?
The TRADE
OCTOBER 27, 2023
As part of a major scheme from the Monetary Authority of Singapore (MAS) to develop the region as a global FX trading hub, several large banks over the last few years agreed to develop FX pricing and trading engines in Singapore, in partnership with MAS.
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LMAX Group goes live with FX NDF trading in Singapore and London
The TRADE
JUNE 5, 2024
Read more: LMAX Group given green light for NDF trading in both Singapore and London The FX NDFs are traded on a central limit order book (CLOB), delivering transparent price discovery and execution to all market participants including banks, non-banks, proprietary trading firms, institutional brokers, asset managers and buy-side institutions. “We (..)
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Commodity Hedge Funds: The Most Lucrative “Hidden Gem” in Finance?
Mergers and Inquisitions
MARCH 8, 2023
But a few related areas, such as commodity desks at banks, commodity trading advisors (CTAs), and physical commodity trading shops could put up a good fight for that “most cyclical” title. Commodity trading desks within sales & trading at the large banks.
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LMAX Group acquires FX HedgePool
The TRADE
OCTOBER 1, 2024
“We believe that with the acquisition of FX HedgePool, our combined client base will benefit from access to a wider suite of products and increased global distribution,” said David Mercer, chief executive, LMAX Group. “Following this acquisition and that of Cürex last year, we now have a compelling proposition for asset managers and other buy-side (..)
The prime brokerage pie is growing, which means bigger slices for everyone
The TRADE
OCTOBER 18, 2024
After a few turbulent years stemming from market volatility, rising interest rates, geopolitical turmoil, inflation, soaring energy prices, client performance, fee pressures, a mini banking crisis, looming regulation, constant tweaking of risk models, rising client complexities and the notorious Archegos saga… well, things are looking up.
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Joint trade associations highlight equity, fixed income and market data concerns ahead of upcoming Mifir review
The TRADE
JUNE 23, 2023
EU asset managers, banks and brokers are urging policy markets not to succumb to pressure that could potentially lead to suboptimal outcomes in the Markets in Financial Instruments Directive (Mifid/r) review.
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Your invite to Leaders in Trading New York!
The TRADE
JUNE 6, 2024
In November, The TRADE is set to debut the North American iteration of its glittering awards night in New York, recognising the finest talent and commitment to the trading industry across asset managers, hedge funds, banks, brokers, exchanges and vendors.
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An evolving service provider landscape
The TRADE
JANUARY 3, 2024
But there are a number of factors at play which make the future an enticing space to watch as only time will tell whether the independents can continue to thrive among a growing crowd of institutional banking players. Can everyone keep up with the increasing multi-asset and geographic demands? Will we see more M&A?
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The TRADE predictions series 2024: Regulation – Mifid/Mifir?
The TRADE
JANUARY 2, 2024
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.
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M&A flurry shows no sign of slowing with two trading venue deals announced this week
The TRADE
AUGUST 11, 2023
Also announced this week was MarketAxess’ plans to acquire multi-asset algorithmic trading provider, Pragma, for an undisclosed sum at the end of this year, subject to closing conditions. The firm’s clients include asset managers, hedge funds, broker dealers, banks and exchanges.
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Trading at the frontier
The TRADE
OCTOBER 9, 2024
She joined Ninety One in 2021 from Royal London Asset Management where she had been head of dealing for three years. She began her career with a two-year stint as a principal dealer at Bank of Ireland Global Markets. Gibson is a seasoned trader with an extensive career in markets.
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The challenges of automation in fixed income: ‘Credit is an entirely different process’
The TRADE
OCTOBER 11, 2024
If met, it will execute, otherwise it needs a human trader to interact,” said Anuj Thakur, lead, high touch fixed income trading at Nordea Asset Management. Also, are we putting certain trades that are automated all-to-all or some to a bespoke group of three to five brokers because the trade is potentially illiquid?”
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MarketAxess to acquire multi-asset algorithmic trading provider Pragma
The TRADE
AUGUST 7, 2023
MarketAxess is set to acquire multi-asset algorithmic trading provider, Pragma, for an undisclosed sum at the end of this year, subject to closing conditions. Its clients include asset managers, hedge funds, broker dealers, banks and exchanges.
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Inside the FX cut-off conundrum sparking animosity between the buy-side, CLS and custodians as T+1 looms
The TRADE
MAY 24, 2024
While fingers of blame are being pointed in each direction, the bottom line is asset managers are now facing operational challenges, the notion of pre-funding trades and balancing settlement security with best execution obligations. That cannot be seen to be a positive outcome.”
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Leaders in Trading 2023: Key dates and information
The TRADE
AUGUST 2, 2023
The TRADE is delighted to announce that Europe’s most popular awards event for the trading and execution industry returns on 8 November at The Savoy Hotel in London, recognising the finest trading talent across asset managers, hedge funds, banks, brokers, trading venues and technology vendors.
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Safeguarding Your Investment Firm: 10 Best Practices to Prevent Fraud
Razorpay
SEPTEMBER 16, 2024
Moreover, withdrawals should be restricted to bank accounts registered at onboarding, with a cooling period of 24-48 hours before funds are disbursed to newly added accounts. Asset Management Companies (AMCs) must ensure timely and precise NAV computations to maintain investor trust and regulatory compliance.
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The Big Interview: Angela McLean
The TRADE
AUGUST 14, 2023
I’ve always worked in the asset management industry, starting my first job at 18 with Scottish Amicable Investment Management in Glasgow. I joined the banking services team and within that team sat the Treasury function consisting of a money market and FX trader. What has your journey to the trading desk been like?
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Market review: The algorithmic acquisition flurry among fixed income trading venues
The TRADE
NOVEMBER 30, 2023
Pragma provides algorithmic trading and analytical services across equities, foreign exchange and fixed income with a client base that spans asset managers, hedge funds, broker dealers, banks and exchanges.
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SEC chair Gary Gensler urges UK to set T+1 transition date
The TRADE
JUNE 21, 2024
Transitioning to T+1 is a team effort involving thousands of market participants, including clearing houses, depositories, custodian banks, broker-dealers, investment advisors, self-regulatory organisations, stock exchanges, service providers, industry groups, trade associations, and regulators. Gensler said.
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Fireside Friday with… Stifel’s Raymond Powell
The TRADE
MAY 24, 2024
We have seen a stabilisation of money flows in recent months, global funds are returning to the UK, while we continue to see outflows (mostly to US) of domestic asset managers. It’s pushing high touch and marginalised brokers into a smaller section of the market. The path of travel is very clear.
Leaders in Trading 2023: Meet the nominees for… Outstanding Market Data Provider
The TRADE
OCTOBER 25, 2023
BMLL Technologies BMLL provides its clients – banks, brokers, asset managers, hedge funds, global exchange groups, academic institutions and regulators immediate and flexible access to Level 3, harmonised, T+1 historical order book data and advanced pre- and post-trade analytics at scale.
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Leaders in Trading 2023: Meet the nominees for… Outstanding Post-Trade Services Provider
The TRADE
OCTOBER 24, 2023
In January, Amsterdam-based Cboe Clear Europe became the first non-UK CCP to receive permanent recognition from the Bank of England (BoE). Following this, in June, Cboe Clear Europe unveiled an initiative to introduce clearing, settlement and post-trade lifecycle management for SFT transactions in European cash equities and ETFs by Q3 2024.
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Keeping ESG commercial
The TRADE
MAY 1, 2024
Joining the industry after graduating from business school at the age of 20, Papanichola has an impressive track record that spans across five hedge funds and two banks. Papanichola began his career at interdealer broker, GFI, however quickly realised the environment wasn’t the one for him. We use a variety of high and low touch.
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DWS Group’s Werner Eppacher: ‘Liquidity is like a shy deer’
The TRADE
JULY 24, 2023
Werner Eppacher has spent the entirety of his two-decade financial career with German asset manager DWS Group, catching his first glimpse of a trading floor as an intern for Deutsche Bank in 2003. “A It [DWS Group’s asset class split] depends on the market environment,” he says. You had the gilt crisis.
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Growing pains: The impacts of T+1 settlements on FX execution and liquidity
The TRADE
OCTOBER 12, 2023
Taking the US market as an example, if an equity buy is traded over the day into the US close, for a non-US asset manager there becomes a very short window to get the equity trade matched, FX generated, and executed in the market in time to meet deadlines to settle on a PvP/net basis.
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