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Hidden Road receives FINRA broker-dealer approval

The TRADE

Prime broker Hidden Roads subsidiary, Hidden Road Partners CIV US LLC has been granted approval by the Financial Industry Regulation Authority (FINRA) to operate as a FINRA-member broker-dealer. Hidden Roads fixed income prime brokerage platform currently spans fixed income repo and global funding services.

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Over the last two years 87% of companies have increased investment in the cloud, finds report

The TRADE

The ‘cloud strategies in financial services’ survey includes insights from financial firms across the industry, including banks, private equity, investment management, asset management; broker dealers, hedge funds, pension funds, and more.

Insiders

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People Moves Monday: Peel Hunt, Redburn Atlantic, RBC Capital Markets, Citi, and more…

The TRADE

The move follows Redburn Atlantic’s winning Best Agency Broker at The TRADE’s inaugural 2024 Leaders in Trading New York Awards in November. The fourth hire is Stuart Marenghi, now director, hedge fund sales, also reporting to Johnson. Based in the UK, Brian McCormack has joined the electronic execution desk from Panmure Liberum.

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RBI not planning to issue norms to regulate social media influencers

Business Standard - FInance

The Reserve Bank is not planning to issue any separate norms to regulate social media influencers pedalling their personal views on the financial markets since sector watchdog Sebi is already on it. Social media influencers peddle personal views or those paying them on financial markets or stocks.

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Transition to T+1 ‘harder than expected’ finds Citi report

The TRADE

Funding has also seen notable impact — albeit with an imbalance across the sell-side and buy-sides. Additionally, over half (52%) of banks and brokers reported that the transition has had a significant impact on their headcounts and staffing levels. A full copy of the study can be found here.

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FIX EMEA 2024: Over two-thirds of attendees ready for T+1 in the US, but multiple concerns linger

The TRADE

Attendees at the FIX EMEA Trading Conference said T+1 is the greatest regulatory headache currently within financial markets, though 70% of the audience said they will be ready for the acceleration of settlement times come May. The market needs to move together,” emphasised one panellist.

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DTCC and Cboe Clear Europe to create new OTC cash equities clearing workflow

The TRADE

“This joint solution enables us to bring greater efficiencies to our clients, helping to optimise their current post-trade workflows and operational processes as the global financial markets look to accelerate settlement cycles,” said Vikesh Patel, president, Cboe Clear Europe.