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JP Morgan OEMS Neovest acquires LayerOne Financial to bolster hedge fund offering

The TRADE

JP Morgan subsidiary Neovest has moved to expand its capabilities in the hedge fund sphere with the acquisition of investment management platform LayerOne Financial. Once integrated, the enhanced Neovest platform will be available to hedge funds in a modular format.

Funds 59
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Major sell-side banks lead $25.4 million funding round in FIA Tech

The TRADE

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”.

Funds 59
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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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DTCC targets 90% affirmation by 9pm on trade date ahead of T+1

The TRADE

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.

Trading 59
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Asset manager consolidation wave continues as two deals announced in 24 hours

The TRADE

Jenny Johnson, president and chief executive of Franklin Templeton, said: “With outstanding investment performance, Putnam will add complementary capabilities to our existing specialist investment managers to meet the varied needs of our clients and will increase Franklin Templeton’s defined contribution AUM.”

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SimCorp and Alloy partner to improve management of digital asset investments for clients

The TRADE

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.

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FIA Tech supports operational resiliency through enhancement of Trade Data Network

The TRADE

The initiative is made up of 16 banks or brokers, as well as 40 investment managers 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.

Trading 64