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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.
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.
Specialist multi-asset manager Candriam and its parent company New York Life Investments have expanded their partnership to grow their remit in the US offshore market. Following the expansion of the partnership, the pair will offer solutions and services to non-US resident investors who invest through US intermediaries.
JP Morgan subsidiary Neovest has moved to expand its capabilities in the hedge fund sphere with the acquisition of investmentmanagement platform LayerOne Financial. Users will be able to send orders to their brokers, manage positions, monitor portfolios, and conduct risk assessments and compliance checks from a unified platform.
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.
Named Rule 13f-2, the new rule will require institutional investmentmanagers that meet or exceed specific thresholds to report short sale related information for equity securities through Form SHO. In the final ruling the SEC has changed the reporting requirement to occur at the end of the day.
Bloomberg has introduced a white label solution for US treasuries, allowing a wide range of broker dealers to provide liquidity for trades initiated on its platform as part of its D&I dealer initiative. The offering – which has been expanded to include US treasuries – is used by investmentmanagers and bond dealers as a pool of liquidity.
As part of the integration, OptimX is now a certified sweep partner on Charles Rivers investmentmanagement system (IMS) meaning Charles River institutional clients can now access OptimX liquidity via their desktops.
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.
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”. Currently, the TDN comprises 16 banks and brokers and 40 investmentmanagers and hedge funds.
The three firms join a growing list within Sustainable Trading’s global membership network of investmentmanagers, banks, brokers, exchanges, trading platforms and service providers who share the goal of improving the sustainability of global markets.
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.
He reports to Michael Hunstad, global equities chief investment officer and deputy chief investment officer of Northern Trust Asset Management, according to the business. His experience also includes a stint as quantitative investment strategist at ING InvestmentManagement.
The D epository Trust & Clearing Corporation (DTCC) has revealed that 350 Investmentmanagers are now leveraging CTM’s automated trade affirmation capabilities to accelerate the post-trade lifecycle, as firms prepare for the US move to T+1 trade settlement.
Earlier this year, trading, portfolio and risk management solutions provider TS Imagine added CLSA’s AI-powered European algo suite to its list of certified brokers.
Most recently, Legal & General InvestmentManagement (LGIM) expanded its footprint across Asia with the opening of its new Singapore office; the latest development in the firm’s growth strategy for the region. We consider Singapore one of our most significant investment centres, both in Asia and internationally.
Earlier this week, The Depository Trust & Clearing Corporation (DTCC) revealed that 350 investmentmanagers are now leveraging CTM’s automated trade affirmation capabilities to accelerate the post-trade lifecycle, as firms prepare for the US move to T+1 trade settlement.
Prior to his stint at JP Morgan Chase, Russo spent nearly four years at online investmentmanagement firm Nutmeg, most recently as senior trader. Before that, O’Driscoll spent just over a year in a junior broker role at the firm. Russo was promoted to the role having served as a senior associate at the firm since October 2021.
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 fund manager assistant.
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.
The development will allow compliance analysts at banks, brokers and investmentmanagers to prioritise high-risk alerts, investigate them better and streamline the entire review process, which SteelEye claims to reduce investigation time by up to 90%.
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.
Prior to this, he worked in an execution sales and account management role at Société Générale, and before that was VP of sales trading at Merril Lynch. Frédéric Benizri left TP ICAP to join financing, investment and risk management business CIC Market Solutions as a sales trader.
Trading, portfolio and risk management solutions provider TS Imagine has added CLSA’s AI-powered European algo suite to its list of certified brokers. TS Imagine’s TradeSmart features pre-certified connections to more than 250 listed brokers and venues, as well as broker algos.
To resolve the disconnect in approaches, in its 2017 no-action letter to SIFMA, the SEC advised that it would not recommend enforcement action to broker-dealers accepting cash payments for research from investmentmanagers which are required by Mifid II to pay for research from its own money as opposed to client commissions or ‘soft dollars’.
With increasing process and decision-making automation in trading, I cannot see this evolving in that direction – unless the trader makes a script to instruct the systems to route volume based on what broker took him/her out for lunch that week, in which case the trader would need to know how to program!
It’s a world which has a compelling backstory and a future which could veer off in several different directions depending on a range of scenarios which includes growing demand from larger buy-side organisations, M&A activity and an increasing level of investment needed to stay competitive.
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.
In some cases, this shift of duties has reduced the buy-side’s reliance on sell-side expertise, allowing for greater autonomy in investment strategies. What I mean by that is, it’s really important for both sides to understand priorities,” says Ed Wicks, head of trading at Legal and General InvestmentManagement (LGIM). “If
Our trading group are viewed as part of the investment process with interaction and culture aligned. These groups have an inherent nature of complexity that require outsourced trading providers to heavily invest in human capital and technology to meet all of their requirements effectively.”
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. In some markets, regardless of whether or not you’re showing a two-way direction, thanks to the liquidity landscape, it becomes easy to work out a firm’s intentions.
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.
A friend suggested I consider investment banking and following a trading and sales summer placement at ABN AMRO in the City, I was instantly captivated – I had found my fit. Fast forward to the end of my studies, I applied for a position at a European investment bank.
The active investmentmanager specialises in emerging and frontier markets trading across fixed income, credit and specialist equities. Historically, investment banking and trading was fairly wild and there was a lack of control generally in terms of the way banks managed traders, P&L and risk,” he adds.
The near-constant stream of mergers and acquisitions across both the sell- and buy-side appears to show no signs of abating as two asset management deals have been announced in the past 24 hours. The move comes as Franklin seeks to increase its assets under management and expand on its presence in other sectors. stake in the company.
“Most people who treat it as a cost centre would be definitely more open to the idea of outsourcing their trading as they don’t see it as core to their investment process. It’s a portal to markets to express their investment thesis. ” No two fund managers are the same and the concept appeals to some and not others.
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.
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.
Elsewhere within the buy-side category, Balyasny Asset Management took home the award for Trading Desk of the Year, while T. Rounding up the buy-side awards, Glenmede InvestmentManagement’s Melissa Hinmon, was honoured with the Buy-Side Market Structure Expert of the Year award. We look forward to future years!
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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