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Manulife Investment Management to acquire alternative credit manager, CQS

The TRADE

Manulife Investment Management is set to acquire multi-sector alternative credit manager CQS for an undisclosed sum with the deal set to close in early 2024. Following close, Manulife is set to align the CQS brand with its own as a co-branded logo – Manulife | CQS Investment Management.

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BNY Mellon launches new FX platform to help manage execution and access to price transparency

The TRADE

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 investment managers, corporates, hedge funds and wealth managers.

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BNP Paribas to pay €5.1 billion for AXA Investment Managers in trillion-dollar asset management JV

The TRADE

BNP Paribas has entered into a definitive agreement to acquire 100% of AXA Investment Managers – 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.

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Federated Hermes’ head of Europe quits investment management after 35 years to pursue technology venture

The TRADE

Head of Europe for UK-based asset manager Federated Hermes, James Rutherford, has stepped down from his role to pursue a technology venture, The TRADE can reveal. I shall be taking up a more active role in a corporate development and investment advisory position, at an extraordinarily exciting time for the business.

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DTCC targets 90% affirmation by 9pm on trade date ahead of T+1

The TRADE

When you look at the US regulation on T+1, there are no specific targets for affirmation rates,” Val Wotton, head of ITP at DTCC told The TRADE’s sister publication, Global Custodian. In today’s T+2 environment, approximately 90% of all trades are affirmed by 11:30am ET on T+1 – the current affirmation cut-off point.

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FIX Trading Community launches new messaging capabilities for real-time settlement

The TRADE

The FIX Trading Community has launched a new real-time messaging type aimed at supporting the industry in its shift to accelerated settlement cycles. If FX trades cannot be completed in the same time frame there is the potential the market could start to see more settlement fails.

Trading 59
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Buy-side flock to automated trade affirmation service from DTCC ahead of T+1 transition

The TRADE

The D epository Trust & Clearing Corporation (DTCC) has revealed that 350 Investment managers 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.

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