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The Securities and Exchange Commission (SEC) has allowed its no-action letter to the Securities Industry and FinancialMarkets Association (SIFMA), based on enforcements surrounding research services, to expire – reinforcing that it was not intended to be permanent solution. That bill is, however, not in effect.
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What are the key drivers behind assetmanagers’ move towards multi-asset trading and what benefit can this provide? Stephane Marie-Francoise Marie-Francoise: Everything starts with the desire from the investment team to develop a multi-asset class strategy offering. The impact can obviously vary depending on the context.
And sitting on its global trading desks are a pod of traders known for their ability to interact with some of the most inaccessible financialmarkets around the world. At the helm of the team is global head of trading Cathy Gibson who oversees trading across the assetmanager’s offices in London, the US, Asia Pacific and South Africa.
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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.
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