The TRADE

DECEMBER 8, 2023

Instead, a combination of rising interest rates, inflation, soaring energy prices and geopolitical tensions have hit hedge funds, and subsequently the risk management practices of prime brokers. Elsewhere, other local regulatory changes and benchmark replacements continue to impact prime brokers.

Broker

The TRADE

DECEMBER 29, 2023

Coming in at number three in our most read stories was news in September that the US’ Securities and Exchange Commission (SEC) had issued a ruling for a new National Market System. Among the asset management bands that were merged were Perpetual, Pendal, Barrow Hanley, J O Hambro, Regnan, Trillium and TSW.

Asset Management

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. We need that dialogue.”

Broker

The TRADE

JULY 18, 2024

The Green Impact Exchange (GIX) is on track to becoming the first sustainability-focused securities exchange in the US to file with the US Securities and Exchange Commission (SEC), and if approved, could begin operations in early 2025. The true essence lies in the infrastructure that supports these transactions. GIX will provide that.”

Trading

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.

Bank

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.

Trading

The TRADE

NOVEMBER 3, 2023

More than 200 asset managers, hedge funds and other users of outsourced trading providers voiced their opinions in this first-of-its-kind piece of research. The post Around two-thirds of buy-siders believe outsourced desks could enhance trade performance in cross-border trading appeared first on The TRADE.

Trading

The TRADE

FEBRUARY 26, 2024

Atkins joined Redburn Atlantic in 2004 as a sales trader having previously served for eight years at Morgan Grenfell and two years at Marathon Asset Management. Alongside her appointment, Steven Priestley was selected to join the sales trading team in New York after spending the last seven years at Credit Suisse and Truist Securities.

Sale

The TRADE

JULY 3, 2023

The Securities and Exchange Commission (SEC) has allowed its no-action letter to the Securities Industry and Financial Markets 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.

Bulge Bracket

The TRADE

FEBRUARY 9, 2024

In the current state with T+2 you have 48 hours to execute a security trade, match that trade with brokers, execute the FX and get everything settled. Jumping ahead in time, covid-19 was another external factor which put a lot of pressure on asset managers in terms of how and where work was being done.

Asset Management

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.

Sale

The TRADE

OCTOBER 4, 2023

First announced back in 2020 the platform uses DAML smart contracts to standardise and streamline post-trade workflows, enhancing operational efficiencies and transparency whilst reducing settlement risks.

Trading

Razorpay

SEPTEMBER 16, 2024

In this blog, we will explore essential best practices that can help merchants safeguard their clients’ investments and ensure a secure trading environment. For added security, dynamic adjustments to withdrawal limits should only occur after additional verifications, such as identity checks or documentation submission.

Investment

The TRADE

OCTOBER 18, 2024

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.

Broker

The TRADE

OCTOBER 26, 2023

Among the key players in this competitive landscape, The TRADE has selected Citadel Securities, Optiver, Virtu Financial, and XTX Markets for the 2023 shortlist, following various individual achievements by these businesses over the past year. Optiver’s net trading income in 2022 saw a 42% year-on-year increase, with a total equity of €3.6

Electronics

The TRADE

JANUARY 3, 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”.

Trading

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.

Trading

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. One of the biggest talking points for asset managers and their custodians is liquidity.

Trading

The TRADE

DECEMBER 21, 2023

For some asset managers and hedge funds, the seemingly impossible notion of all traders not physically sitting together on a centralised desk and communicating face-to-face was all but wiped away overnight as the hybrid working setup was forcibly tested and passed with flying colours.

Trading

The TRADE

MAY 23, 2024

It is rare, for example, that you’ll find an asset manager 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. The elephant in the room: budget.

Trading

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 Can you imagine an asset manager increasing the management fee for an ETF? You had the gilt crisis.

Trading

The TRADE

OCTOBER 24, 2023

Subject to regulatory approvals, the service will come through its Amsterdam-based clearing house and introduce matching, CCP clearing, settlement and post-trade lifecycle management for SFT transactions in European cash equities and ETFs, and settlement will take place in 19 European Central Securities Depositories (CSDs).

Trading

The TRADE

MAY 1, 2024

Papanichola began his career at interdealer broker, GFI, however quickly realised the environment wasn’t the one for him. Interesting, lucrative, fun but highly unconventional,” he says. It champions one core concentrated fund of about 10-15 names. Positions in just one name can be sizable, says Papanichola.

Trading

The TRADE

AUGUST 7, 2024

However, by not being present in the set-up of a new regime [buy-side traders] are missing opportunity to have a say and effectively create even greater job security with a hybrid approach,” asserts Hantman. Examples just from just the last six months include UK-based investment management firm Waverton – which has £9.1

Trading

The TRADE

JULY 30, 2024

“What’s particularly notable is the willingness of big asset managers to launch their latest active strategies in an ETF wrapper. And for me that means that every asset manager is going to need to have a clear strategy of how they’re going to respond.”

Retail

Software Equity Group

AUGUST 20, 2024

Cisco’s September 2023 purchase of the $29 billion enterprise value Splunk, a provider of machine-to-machine IT systems, cybersecurity, and application performance management software, was one of the largest SaaS deals of the past year, and boasted an EV/TTM revenue ratio of 7.5x.

Investment

The TRADE

APRIL 30, 2024

New rules have impacted almost every financial firm, ranging from banks to asset managers. On 30 June 2023, Livor was replaced by the Secured Overnight Financing Rate (SOFR). The years following 2008’s GFC experienced continued financial regulatory reform. UMR: The uncleared margin rules (UMR), are next up on the list.

Financial Institution

The TRADE

OCTOBER 19, 2023

CME Group also boasts over 90,000 users in FX futures raging from corporates, banks, proprietary trading companies, retail, asset managers and hedge funds. Formed in 2001, FXall has served the corporate, asset management, hedge fund and banking communities for over two decades.

Trading

CNBC: Investing

JULY 22, 2025

" the firm's CEO said on CNBC's " Halftime Report " on Tuesday, referring to Interactive Brokers. Shares of the electronic broker are up more than 40% in 2025, as investors have grown optimistic on the company's exposure to a wide range of currencies and strong trading volumes seen this year.

Stock

The TRADE

FEBRUARY 4, 2025

Communication and markets technology business Symphony has partnered with Broadridge Financial Solutions with the aim of streamlining communication between asset managers and their executing brokers. The secure messaging platform is set to enable compliance, transparency, and streamlined resolution of post-trade discrepancies.

Asset Management

The TRADE

MARCH 31, 2025

Several entities are already on board, with other banks, asset managers, broker-dealers, and agent lenders having also completed final testing in preparation for clearing. Move comes as Cboe seeks to make the trading of SFTs more capital efficient, especially as regards risk-weighted assets.

Finance

The TRADE

JANUARY 13, 2025

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.

Securities

The TRADE

APRIL 9, 2025

Janus Henderson and the Guardian Life Insurance Company of America have entered a strategic partnership, whereby Janus is set to become Guardians investment grade public fixed income asset manager. The move follows other similar deals, wherein asset managers are looking to expand their remits through key partnerships.

Insurance

The TRADE

NOVEMBER 20, 2024

The highly anticipated award for Trader of the Year – Long Only went to Chris Fiorito of River Road Asset Management. Elsewhere within the buy-side category, Balyasny Asset Management took home the award for Trading Desk of the Year, while T. Rowe Price was awarded Fixed Income Trading Desk of the Year.

Trading

The TRADE

DECEMBER 20, 2024

We are also confident that our pioneering central clearing service for European securities financing transactions (SFTs) in equities and ETFs will resonate with market participants. This conversation is especially relevant as cross-border transactions grow in volume and as asset managers expand their investment in international markets.

Trading

The TRADE

APRIL 11, 2025

Europe has a complex market structure with multiple exchanges, clearing houses (CCPs) and central securities depositories (CSDs) – each with different operating models and regulations. The Central Securities Depositories (CSDR) in Europe includes a mandatory buy-in regime which is not present in US.

Trading

The TRADE

MAY 8, 2025

Meanwhile, 24X National Exchange received approval from the US Securities and Exchange Commission (SEC) for near-continuous sessions for equities trading. It probably provides greater opportunity for the retail sector, suggests Ed Wicks, global head of trading and liquidity management, Asset Management, Legal & General.

Equities