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James Hilton was appointed multi-assetmanaging 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. Balyasny AssetManagement appointed Harrison Chesterton as associate director within its equity finance trading division.
SIFMA and its assetmanagement arm have published an open letter expressing concerns about the SEC’s proposal to redefine what constitutes an exchange and expand Regulation ATS, stating that it is not appropriately tailored to existing systems.
The service also supports key regulatory initiatives including EMIR, CSDR and the Securities Financing Transactions Regulation (SFTR), with the aim to help promote transparency, market integrity and the competitiveness of European capitalmarkets. “We
BNY Mellon has today announced the integration of Global Markets Trading (GMT), which will combine the firm’s capabilities in foreign exchange, fixed income, equities and capitalmarkets to provide full-service client provisions.
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.
EU assetmanagers, 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.
“One of the key reasons Singapore is an attractive market is it’s pretty well positioned, as it shares the same time zone as Hong Kong,” Gerard Walsh, global head of capitalmarkets client solutions at Northern Trust, told The TRADE.
Eric Heliene, head of buy-side trading desk, Groupama Asset Management The intensification of financial regulation is a fundamental trend transforming the assetmanagement ecosystem. Another big theme will be the importance of the retail investor, and how European capitalmarkets can grow by better serving this community. Investor
Contrary to popular belief, an exchange is not just about ‘buy, buy, sell, sell,’ which is the domain of brokers. Over the years, the individuals witnessed developments in the marketplace and capitalmarkets and also saw their own personal beliefs evolve, recognising the importance of leaving the world a better place, Dolan tells The TRADE.
LiquidityBook is set to acquire boutique capitalmarkets fintech provider, Messer Financial Software, in a bid to accelerate its multi-asset capabilities. The business confirmed that clients can continue to utilise only the services they need, as well as integrate a variety of third-party tools.
Dominic Rieb-Smith, managing director, international head, prime services sales, JP Morgan, refers to the past year as “a standout”. Data from Convergence tracking the top 25 prime brokers showed their market share grew from 83.3% in April 2023, to 92% in 2024.
That line-up is largely made up of independent firms, prime brokers and custodians, all of whom are enjoying a piece of the growing pie, with their own strengths and weaknesses. Raymond McCabe, founder and managing partner of Outset Global, highlights how a dozen of its frontline traders are “pure buy-side” from “big desks”.
The pandemic marked a seminal moment across the capitalmarkets, effectively drawing a line between the old world and the new. So balance is key here: there are obviously benefits to an internal trading desk within an assetmanager or hedge fund, but the same is true of the opposite for many in 2023.
It is rare, for example, that you’ll find an assetmanager worrying about the good of the market or how an order might influence the primary lit market share, over whether or not they have achieved the optimal outcome for their portfolio manager and end investor. They’re built for slightly different purposes.”
Outsourced trading, though undoubtedly a contentious topic, is something that has been around in capitalmarkets for decades in some form or another. Examples just from just the last six months include UK-based investment management firm Waverton – which has £9.1
It’s in people’s DNA to invest in capitalmarkets in the US. Both for the retail brokers but also for the institutional interacting with those retail.” This is not even close to the same level as in the US. It’s part of creating their financial future – not relying on pension funds is important. Risk controls are important.
These regulations have significantly impacted the operations and behaviour of financial institutions, contributing to greater stability, transparency, and accountability in global financial markets. New rules have impacted almost every financial firm, ranging from banks to assetmanagers.
JSE-FIX is a vendor, venue and asset class agnostic offering and aimed at simplifying access to South Africas secondary markets and contribute to growing the increasingly diverse community of assetmanagers, sell-side brokers, and technology providers in the region.
The highly anticipated award for Trader of the Year – Long Only went to Chris Fiorito of River Road AssetManagement. Meanwhile, the award for Trader of the Year – Hedge Fund was given to David Alfred of Conversant Capital. Rowe Price was awarded Fixed Income Trading Desk of the Year.
Before that, London-based Horan served as head of outsourced trading at Pershing EMEA.Previously in his career, he also served as head of the European broker desk at Instinet, as well as working in an equities-related broker role at Tullet Prebon and UK-focused market maker at ABN AMRO Bank.
Central clearing will play a key role in this debate, which will be essential for advancing the region’s capitalmarkets, and we look forward to Emir 3.0 This conversation is especially relevant as cross-border transactions grow in volume and as assetmanagers expand their investment in international markets.
It gives the retail market the opportunity to react to overnight news, geopolitical headlines, perhaps announcements that come out after the core US markets are closed. However, while the US boasts a large and growing retail market, this is something that the UK and much of mainland Europe lack.
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