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BNP Paribas has entered into a definitive agreement to acquire 100% of AXA InvestmentManagers – representing around €850 million in assets under management – for just over €5 billion. The deal is set to include an agreement for BNP Paribas’ long term management of a large part of AXA’s assets.
BNY Mellon has launched a new foreign exchange (FX) platform, meeting client demands to manage execution across their entire portfolio and access improved price transparency. Named Universal FX, the platform supports BNY Mellon clients across all market segments, including investmentmanagers, corporates, hedge funds and wealth managers.
million funding round aimed at expediating the development of FIA Tech’s Trade Data Network (TDN) initiative. According to the business, the initial rollout “is focused on allocations processing and trade confirmations, with trade lifecycle transparency across the multiple brokers and the clearinghouse on each trade”.
Stephen Roche As part of the move, Jupiter will leverage Saphyre’s platform for the onboarding and maintenance of its trading relationships with brokers and custodians. Saphyre’s automated intelligence enables onboarding and maintenance of custody and broker trading, alongside synchronising associated reference data in real-time.
Saphyre’s technology manages the onboarding and maintenance of custody, broker trading, and buy-side accounts. Having Capital Group, a top five financial investmentmanagement firm, join this endeavor is incredibly exciting,” said Stephen Roche, president and co-founder at Saphyre.
The initiative is made up of 16 banks or brokers, as well as 40 investmentmanagers and hedge funds with combined assets under management of more than $37 trillion. FIA Tech stated that adding capability and scalability to support the operational resiliency needs of firms was a natural extension of the platform.
Jenny Johnson, president and chief executive of Franklin Templeton, said: “With outstanding investment performance, Putnam will add complementary capabilities to our existing specialist investmentmanagers to meet the varied needs of our clients and will increase Franklin Templeton’s defined contribution AUM.”
Additionally, eight of the top 10 prime brokers have already achieved a 90% affirmation rate by 9pm ET on trade date. It’s the non-cleared flow, the bilateral settlement piece, where there are still challenges, Wotton said.
Given that the settlement cycle is now shorter in the US trading volumes on a Thursday have dropped off significantly thanks to funding requirements that require brokers to fund a position for an additional three days on Friday, Saturday and Sunday given the slightly longer settlement cycle in Europe, the UK, and most of Asia Pacific.
After leaving university, she undertook several sell-side internships at RBC, Nomura and Fisher Investments, returning to RBC in 2014 to work on its cash management team for its foreign exchange traders. In 2016, Nutting moved to Principia InvestmentManagement Limited where she was an execution trader and fundmanager assistant.
Deutsche Börse Group subsidiary SimCorp and infrastructure and technology provider for digital assets, Alloy, have entered a strategic partnership to assist SimCorp clients with managing digital asset investments. Alloy’s clients consist of a range of firms including family offices, hedge funds and listed asset managers.
Investors in the US offshore market will be able to access Candriam’s existing UCITS funds that cover US high yield corporate bonds, emerging market equity and debt, and thematic strategies. The post Candriam expands partnership with parent company New York Life Investments to break into the US offshore market appeared first on The TRADE.
The initiative currently includes 16 banks/brokers as well as 50 investmentmanagers and hedge funds with combined assets under management of more than $37 trillion. Earlier this year, FIA Tech enhanced TDN to support the operational resiliency demands of clearing firms utilising the platform.
We’ve seen a lot of activity with hedge funds and asset managers establishing themselves in Dubai or Abu Dhabi,” noted Walsh. Elsewhere, interdealer broker TP ICAP also took advantage of the MAS’s initiative to boost the region as a major trading hub.
Elsewhere in his career, Chalkley served as a European government bond, inflation and absolute return fundmanager at BlackRock. Tourmaline Partners hired three new seasoned financial markets executives as managing directors to help strengthen its global trading capabilities.
And what happens if the floodgates truly open with the arrival of the $100 billion funds? The narrative of the service being used solely by smaller hedge funds has been replaced by suggestions that outsourced trading is gathering pace among larger fundmanagers.
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. Outsourced trading is no longer a taboo topic.
Speaking to The TRADE, Dean Gray, head of EMEA outsourced trading at Jefferies, explains: “It has been well documented that the past few years have seen a significant shift in the mindset, especially of the larger funds, towards the adoption of outsourced trading. were in $50-100 billion and another 2.5% in the $100 billion-plus range.
One key client user group of the protocol is the hedge fund segment, and it goes without saying that hedge funds are some of the most impact conscious firms out there. Given inventory restrictions in credit, it’s often more challenging for a broker/bank to make a two-way price if they don’t have the bond to begin with.
Hogan Lovells lawyer Rachel Kent – who has led the UK’s Investment Research Review under the Edinburgh Reforms – today revealed he recommendations which includes paving the way for a new ‘Research Platform’ that will provide a one-stop-shop for firms looking for research experts.
I’ve always worked in the asset management industry, starting my first job at 18 with Scottish Amicable InvestmentManagement in Glasgow. What has your journey to the trading desk been like? I joined the banking services team and within that team sat the Treasury function consisting of a money market and FX trader.
JP Morgan subsidiary Neovest has moved to expand its capabilities in the hedge fund sphere with the acquisition of investmentmanagement platform LayerOne Financial. Once integrated, the enhanced Neovest platform will be available to hedge funds in a modular format.
Ninety One has joined Saphyres network of financial institutions, adopting its platform to streamline the onboarding and maintenance of trading relationships with brokers and custodians, as well as manage trading agreements.
Read more: Head of UBS outsourced trading offering departs Prior to joining UBS, London-based Power served as a global multi-asset and derivatives trader at Newton IM, and before that as head of trading at Standard Life Investments. UBS had not responded to a request for comment at the time of publishing.
The highly anticipated award for Trader of the Year – Long Only went to Chris Fiorito of River Road Asset Management. Meanwhile, the award for Trader of the Year – Hedge Fund was given to David Alfred of Conversant Capital.
Lisa Danino-Lewis, chief growth officer, CLS In 2024, weve witnessed a continuation in the buy-sides emphasis on adhering to best practices for mitigating settlement risk to meet regulatory expectations and to ensure robust risk management practices.
It [bilateral trading for blocks] never really took off as a product whereas the way I look at the more recent developments in bilateral liquidity, it’s for a lower liquidity demand which does feel more sustainable, says Legal & General InvestmentManagements global head of trading, Ed Wicks. Asks Canwell.
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