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The Association for Financial Markets in Europe (AFME) has appointed April Day head of capitalmarkets. As part of the role, she oversaw equity capitalmarkets (ECM), trading and post-trade activities. She also brings extensive experience in investment banking and capitalmarkets to the new role.
HSBC has executed a Hong Kong dollar repo transaction with the Bank of East Asia (BEA), which used Hong Kong government digitally native green bonds as collateral for financing purposes. According to the bank, this was the largest digital bond issuance globally, alongside being the first multi-currency digital bond issuance. “The
Jefferies’ managing director and head of US equity distribution in Europe, Guy Trust, has left the bank after nearly a decade to join Daiwa CapitalMarkets Europe, The TRADE can reveal. The post Daiwa CapitalMarkets Europe selects former Jefferies MD for new head of equities appeared first on The TRADE.
BMO CapitalMarkets has appointed Harj Bagria within its electronic trading division, The TRADE can reveal. Most recently, Bagria held an EMEA equity trading position, based in London. This followed an eight-year stint at Citi, where he held electronic sales trading roles in both London and Hong Kong.
JP Morgan Chase & Co has been issued with almost $350 million worth of fines and civil money penalties for inadequacies in its firm and client trade reporting program between 2014 and 2023. These gaps and deficiencies in JPMC’s trade surveillance program constitute unsafe or unsound banking practices,” the watchdog said in a statement.
The global head of capitalmarkets at German asset manager DWS, Keshava Shastry, has left the business, according to two people with knowledge of the matter, The TRADE can reveal. Prior to joining Deutsche Asset Management, Shastry was employed as head of capitalmarkets at Credit Suisse Asset Management (CSAM).
RBC CapitalMarkets has appointed Mitul Patel director, central bank sales, based in London. As part of the role, Patel will hold responsibility for distributing global rates product, alongside collaborating closely with global trading teams, internal partners in DCM, syndicate, and sales to execute strategy and drive growth.
Fintech giant FIS has acquired SaaS post-trade platform Torstone Technology, according to multiple sources close to the matter. The deal will further bolster FIS’ capitalmarkets technology offering, having acquired SunGard in a major deal back in 2015.
BMO CapitalMarkets managing director and co-head of electronic trading has left the bank, The TRADE can reveal. After 10 years as co-founder of Clearpool and MD at BMO, I have decided to take some time away from electronic trading. It has been an amazing journey,” said Wald in an update.
Novobanco and Nasdaq have expanded their technology partnership, wherein Novobanco will expand its use of Nasdaqs Calypso platform to support the banks entire capitalmarket operations. Nasdaq Calypso currently supports Novobancos treasury workflows, spanning trade settlement to payment and accounting processes.
Pan-European trading venue for securities Spectrum Markets has welcomed Baader Bank as a new trading member. Nicky Maan Baader Bank has been trading securities for over four decades, offering its partners and institutional investors access to capitalmarkets through integrated trading platforms.
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). Initially, the service will cover key European markets, with plans to expand the offering based on client demand and market developments.”
Danske Bank has selected Broadridge’s multi-asset trading and market making solution, Tbricks, to support multi-asset trading, pricing and position management across its various locations. Tbricks provides a modular trading platform with a flexible user interface, built-in functionality and customisability.
Digital Asset’s blockchain network Canton has completed a pilot involving a large group of major investment banks and asset managers demonstrating interoperability of independent distributed ledger applications (dApps) in the capitalmarkets domain.
Nasdaq and the Indonesia Stock Exchange (IDX) have expanded their technology partnership which will see the former upgrade its core trading platform to Nasdaq’s most advanced matching engine. We believe this partnership will speed up the modernisation advancement of the Indonesia capitalmarket while supporting sustainable economic growth.”
Even though we’ve covered industry groups vs. product groups and teams such as M&A , ECM , DCM , and Leveraged Finance , we continue to get questions about capitalmarkets vs. investment banking. The questions usually go like this: Are capitalmarkets teams (ECM, DCM, and LevFin) “real” investment banking?
The London Stock Exchange (LSEG) saw overall growth across its key businesses in 2023, with considerable improvement across data and analytics, capitalmarkets, and in particular, post-trade. year-on-year increase, while capitalmarkets saw a 6.1% In capitalmarkets, the 6.1%
The new desk is Investec’s first low touch offering based in London and comes off the back of increased client demand, The TRADE understands. Lowres joins Investec as head of electronic trading and execution strategy after almost 17 years with Liberum. Alongside him, Matthew West joins Investec as a global electronic sales trader.
Named Smart Markets, the new service will transform Euroclear’s data into interpretable insights to detect market movements, enhance trading models and build informed strategies. Smart Markets brings together raw data from market sources including Euroclear, which is then enriched, normalised and analysed automatically.
Jamie McKenna was appointed vice president, senior global equity trader at State Street Global Advisors (SSGA) following almost two decades at GMO trading. Boston-based McKenna joined GMO in 2004 as a pricing analyst, and most recently worked in a multi-asset trading role for 15 years.
As part of the move, MIM is acquiring the high yield and bank loan, strategic fixed income and small-cap equity teams and certain related investment products. The post MetLife IM set to acquire investment teams managing $6 billion from Mesirow appeared first on The TRADE.
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.
A Citadel equity trader and senior associate has left the firm to join Ilex Capital, The TRADE can reveal. According to an update on his social media, Jack Boland has joined Ilex Capital in a US equity trading and global equity capitalmarkets role.
What has your journey to the trading desk been like? I spent the first 20 years of my career at the global bulge bracket banks, first in investment banking and then on the institutional equity desks, in a cross-asset and special situations role. I oversee the capitalmarkets function and I assist in origination.
Patel was appointed director, central bank sales at RBC CapitalMarkets, based in London, responsibility for distributing global rates product. The post HSBC trader joins JP Morgan in New York appeared first on The TRADE.
Jefferies has appointed Joram Siegel as managing director, head of fixed income outsourced trading. Siegel joins Jefferies from Marex, where he spent the last four months serving as head of fixed income outsourced trading. Other previous tenures include credit trading roles at both Barclays Investment Bank and Credit Suisse.
Abu Dhabi Securities Exchange (ADX) and HSBC Bank Middle East are collaborating to develop digital fixed income securities, with the aim to broaden capitalmarket use cases in the Middle East. The post HSBC and Abu Dhadi Securities Exchange partner to develop digital fixed income securities appeared first on The TRADE.
Commodities specialist Marex has completed its acquisition of TD Cowen’s outsourced trading and prime brokerage business, first announced in September. TD Bank Group then agreed to acquire Cowen in August 2022. “The Rosen and Seibald have been with the business since its inception in the ’90s, selling it to Cowen in 2015.
The TRADE is delighted to announce the winners of this year’s Leaders in Trading awards, with the recipients honoured at a ceremony held last night at The Savoy, London. BlackRock and Millennium took home the award for Trading Desk of the Year Long-Only and Trading Desk of the Year Hedge Fund, respectively. Meanwhile, T.
BNY Mellon has today announced the integration of Global MarketsTrading (GMT), which will combine the firm’s capabilities in foreign exchange, fixed income, equities and capitalmarkets to provide full-service client provisions.
Deutsche Bank has signed up to the onboarding and maintenance platform for custody, broker trading, and buy-side accounts offered by ascending fintech Saphyre. By having them as part of our network, not only will Deutsche Bank realise middle- and back-office operational benefits, but our mutual buy-side clients will gain them as well.
Barclays selected an internal candidate and a new hire from BNP Paribas to become its new co-heads of G10 FX trading. New co-heads Torsten Schöneborn and Jerry Minier will be London-based, reporting to Michael Lublinsky, global head of macro, according to an internal memo seen by The TRADE. His next role is unconfirmed.
He joins the firm from Deutsche Bank where he served as a currency options trader. Prior to this, Roberts spent five and a half years at NatWest Markets, most recently serving as a FX derivatives trader. Elsewhere in his tenure at NatWest Markets, he worked as a US rates strategies.
New York-based independent prime broker Clear Street is set to launch a new investment banking business named Strategic Advisory Services. The new business line will offer strategic advisory, transaction and creative capital solutions to emerging growth companies, subject to regulatory approvals.
The Bank of England (BoE) and the UK Financial Conduct Authority (FCA) are working together to operate a new Digital Securities Sandbox (DSS) – a regime that will allow firms to use developing technology in the issuance, trading and settlement of securities. The DSS is expected to open applications in the summer of 2024.
Terry Duffy The plan is to build a new private Google Cloud region to support CME Group’s global trading, offering derivatives traders access to “cloud-based, ultra-low-latency networking and high-performance computing”. Recent times have seen a swathe of investments from major cloud providers into leading exchanges.
BNY Mellon made two key senior managing director hires into its fixed income and equity sales and trading businesses. Gould joined BNY Mellon after three years at RBC CapitalMarkets where she previously served as co-head of equities electronic sales and trading.
Deutsche Bank has re-entered the local DCM in South Korea as it expands its investment banking capabilities in the region in a bid to support its local clients in accessing global debt capitalmarkets. It also provides asset management services to its South Korean clients through Deutsche Bank subsidiary, DWS.
Nasdaq has integrated AI into its Calypso platform to enhance bank and insurance risk calculations, in a move set to process risk calculations up to 100 times faster. Gil Guillaumey The offering offers new methodology to conduct investment portfolio risk calculations and produce predictive analytics, based on advanced machine learning.
RBC’s co-head of European electronic sales and trading, Bianca Gould, is set to leave the bank after almost three years as part of streamlining measures across the business. The post RBC’s electronic trading co-head Bianca Gould to depart as part of streamlining across the bank appeared first on The TRADE.
Cowen’s prime brokerage and outsourced trading business has been acquired by Marex just six months after TD completed its purchase of the business. Expanding our capitalmarkets business also adds to our diversification and to the resilience of our franchise.” TD Bank Group completed its all-cash $1.3
Kerim Acanal, global head of emerging markets, Tradeweb The request-for-market (RFM) protocol will continue to be the next frontier for electronic trading in emerging markets. This is illustrative of the markets’ protocol preferences changing, and RFM proving its worth as an important tool.
Deutsche Bank has completed the acquisition of institutional broker Numis and has unveiled a new offering to be known as ‘Deutsche Numis’. The transaction is the next step in Deutsche Bank’s Global Hausbank strategy, which aims to unlock deeper engagement with corporates in the UK.
We look forward to supporting our clients to participate in the Korean FX market both onshore and offshore.” ” Over more than 20 years, State Street has had a local presence in the country, with its Korean entity supporting global clients with trading Korean Won onshore.
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