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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).
Liquidity providers on OptimX will also benefit from greater trading opportunities offered by money managers on Charles Rivers network, OptimX confirmed. The post OptimX connects with Charles River to offer institutional clients bilateral liquidity appeared first on The TRADE.
The ‘cloud strategies in financial services’ survey includes insights from financial firms across the industry, including banks, private equity, investment management, assetmanagement; broker dealers, hedge funds, pension funds, and more.
Jan Treuren Cboe Clear Europe launched the clearing service in March 2025, wherein Natixis Corporate & Investment Banking acted as a principal lender against JP Morgan as a borrower, as part of the first trades cleared through the new service.
Umair Khan Marwat joined Millennium as a trader, following almost two and a half years at Balyasny AssetManagement. Hong Kong-based Marwat previously worked at Credit Suisse, focused on AES, algorithmic, and direct market access (DMA) trading, before joining Balyasny AssetManagement in 2021 as a trader.
The near-constant stream of mergers and acquisitions across both the sell- and buy-side appears to show no signs of abating as two assetmanagement deals have been announced in the past 24 hours. In the same week, Redburn merged with Atlantic Equities – creating a London-headquartered transatlantic broker.
James Hilton was appointed multi-assetmanaging director in RBC’s low touch team, joining from Credit Suisse, where he had been serving as head of sales for EMEA for the bank’s advanced execution sales (AES) team. Prior to joining Credit Suisse in 2006, Hilton spent six years at UBS Investment Bank as a director.
This has forced prime brokers to focus more on risk management and diversification of their client portfolios with increased regulatory pressures.” The market volatility has certainly been a defining feature of the year, for both clients and providers, and gave rise to opportunities for certain strategies, while costing others dearly. “In
Throughout his career, UAE-based Darwish has also worked as sales trader at investment banks Credit Suisse and Commercial International Bank (CIB). GTN serves brokers, banks, assetmanagers, and fintech clients.
Specifically, the new entity would be a leading player in long term savings assets for insurers and pension funds, BNP Paribas said in its Thursday statement. Consolidation Most recently we saw ABN AMRO confirm it was set to acquire German private bank, Hauck Aufhäuser Lampe (HAL) from Fosun International in May.
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. Banks are crucial.
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.
Previously in his career, he served as president and chief executive of TD Ameritrade Holding Corporation for eight years and as vice chairman of TD Bank Financial Group. Among the assetmanagement bands that were merged were Perpetual, Pendal, Barrow Hanley, J O Hambro, Regnan, Trillium and TSW.
Royal London AssetManagement’s (RLAM) trading team is no stranger to change. The London-based assetmanager has undergone not one but three makeovers in recent years as it continues to evolve with the demands of the street. Wheeler has worn several hats in his career to date. That’s the manual element of it.
Deutsche Bank has reported a €2.3 The bank posted an 11% increase year on year in net revenues for the second quarter at €7.4 The results represent the highest revenue for a second quarter since 2016, said the bank, with revenue for the first half of the year up 8% overall – at €15.1
Next up in our introduction to the distinguished nominees for Leaders in Trading 2023 Editors’ Choice Awards, we bring you the shortlist for Outstanding Non-Bank Electronic Liquidity Provider, showcasing excellence in liquidity provision outside of the traditional sphere. billion compared to € 2.8 billion the previous year.
UK-based boutique fixed income trading desk BlueBay AssetManagement is beginning a new chapter in its life. The move has opened up swathes of synergy opportunities for the pure fixed income assetmanager, with its traders now working directly alongside RBC BlueBay AssetManagement’s equities desk.
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 assetmanagers, asset owners, alternatives, banks, broker dealers and wealth clients.
Read more: Fireside Friday with… Morgan Stanley’s Maria Salamanca Mejia Previously in his career, McMahon worked as a centralised dealer at Bank of Ireland AssetManagement, working on the multi-asset global trading desk.
Former director at Cboe Global Markets, Michael Sparacino, has left the exchange operator after less than two years to re-join agency only broker-dealer Matrix Executions. He re-joined the agency only broker-dealer after also previously serving as a director for almost three years from 2019 to 2022.
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. Faenson joined Citi in 2005 as a credit valuation adjustment (CVA) trader.
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.
But a few related areas, such as commodity desks at banks, commodity trading advisors (CTAs), and physical commodity trading shops could put up a good fight for that “most cyclical” title. Commodity trading desks within sales & trading at the large banks.
“We believe that with the acquisition of FX HedgePool, our combined client base will benefit from access to a wider suite of products and increased global distribution,” said David Mercer, chief executive, LMAX Group. “Following this acquisition and that of Cürex last year, we now have a compelling proposition for assetmanagers and other buy-side (..)
After a few turbulent years stemming from market volatility, rising interest rates, geopolitical turmoil, inflation, soaring energy prices, client performance, fee pressures, a mini banking crisis, looming regulation, constant tweaking of risk models, rising client complexities and the notorious Archegos saga… well, things are looking up.
Read more: LMAX Group given green light for NDF trading in both Singapore and London The FX NDFs are traded on a central limit order book (CLOB), delivering transparent price discovery and execution to all market participants including banks, non-banks, proprietary trading firms, institutional brokers, assetmanagers and buy-side institutions. “We (..)
EU assetmanagers, banks and brokers are urging policy markets not to succumb to pressure that could potentially lead to suboptimal outcomes in the Markets in Financial Instruments Directive (Mifid/r) review.
But there are a number of factors at play which make the future an enticing space to watch as only time will tell whether the independents can continue to thrive among a growing crowd of institutional banking players. Can everyone keep up with the increasing multi-asset and geographic demands? Will we see more M&A?
In November, The TRADE is set to debut the North American iteration of its glittering awards night in New York, recognising the finest talent and commitment to the trading industry across assetmanagers, hedge funds, banks, brokers, exchanges and vendors.
Eric Heliene, head of buy-side trading desk, Groupama Asset Management The intensification of financial regulation is a fundamental trend transforming the assetmanagement ecosystem. The planned transition to T+1 settlement in 2024 and the forthcoming revision of Mifid II are poignant examples of this.
Also announced this week was MarketAxess’ plans to acquire multi-asset algorithmic trading provider, Pragma, for an undisclosed sum at the end of this year, subject to closing conditions. The firm’s clients include assetmanagers, hedge funds, broker dealers, banks and exchanges.
She joined Ninety One in 2021 from Royal London AssetManagement where she had been head of dealing for three years. She began her career with a two-year stint as a principal dealer at Bank of Ireland Global Markets. Gibson is a seasoned trader with an extensive career in markets.
If met, it will execute, otherwise it needs a human trader to interact,” said Anuj Thakur, lead, high touch fixed income trading at Nordea AssetManagement. Also, are we putting certain trades that are automated all-to-all or some to a bespoke group of three to five brokers because the trade is potentially illiquid?”
MarketAxess is set to acquire multi-asset algorithmic trading provider, Pragma, for an undisclosed sum at the end of this year, subject to closing conditions. Its clients include assetmanagers, hedge funds, broker dealers, banks and exchanges.
The TRADE is delighted to announce that Europe’s most popular awards event for the trading and execution industry returns on 8 November at The Savoy Hotel in London, recognising the finest trading talent across assetmanagers, hedge funds, banks, brokers, trading venues and technology vendors.
Moreover, withdrawals should be restricted to bank accounts registered at onboarding, with a cooling period of 24-48 hours before funds are disbursed to newly added accounts. AssetManagement Companies (AMCs) must ensure timely and precise NAV computations to maintain investor trust and regulatory compliance.
While fingers of blame are being pointed in each direction, the bottom line is assetmanagers are now facing operational challenges, the notion of pre-funding trades and balancing settlement security with best execution obligations. That cannot be seen to be a positive outcome.”
I’ve always worked in the assetmanagement industry, starting my first job at 18 with Scottish Amicable Investment Management in Glasgow. I joined the banking services team and within that team sat the Treasury function consisting of a money market and FX trader. What has your journey to the trading desk been like?
Pragma provides algorithmic trading and analytical services across equities, foreign exchange and fixed income with a client base that spans assetmanagers, hedge funds, broker dealers, banks and exchanges.
BMLL Technologies BMLL provides its clients – banks, brokers, assetmanagers, hedge funds, global exchange groups, academic institutions and regulators immediate and flexible access to Level 3, harmonised, T+1 historical order book data and advanced pre- and post-trade analytics at scale.
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.
We have seen a stabilisation of money flows in recent months, global funds are returning to the UK, while we continue to see outflows (mostly to US) of domestic assetmanagers. It’s pushing high touch and marginalised brokers into a smaller section of the market. The path of travel is very clear.
In January, Amsterdam-based Cboe Clear Europe became the first non-UK CCP to receive permanent recognition from the Bank of England (BoE). Following this, in June, Cboe Clear Europe unveiled an initiative to introduce clearing, settlement and post-trade lifecycle management for SFT transactions in European cash equities and ETFs by Q3 2024.
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