Day: 30 January 2018

Blackstone Buys $17 Billion Stake in Thomson Reuters Financial & Risk

US private equity group Blackstone has agreed to buy 55% of the Financial and Risk (F&R) business of Thomson Reuters – a unit that includes the trading platforms owned by the firm.
The deal values the F&R Division at $20 billion the firms say, adding that Thomson Reuters will receive around $17 billion in gross proceeds, roughly what – in dollar terms – Thomson Corporation paid for Reuters when it bought it in 2008.
Thomson Reuters will retain the news service as well as the legal and tax and accounting divisions, it would also retain a 45% stake in the new business, which will provide news, data, analytics and trading services.

Sigelbaum Appointed to Head FXall

Jill Sigelbaum has been appointed as the new head of Thomson Reuters FXall, based in New York.

“We are delighted to have Jill onboard. Jill’s experience and expertise will bring a broad perspective to our FX offerings beyond front office execution,” says Neill Penney, global head of trading at Thomson Reuters.  “As well as driving the FXall business forward, she has the leadership capabilities necessary to work at an industry level to continue Thomson Reuters’ tradition of innovation in the FX market.”

Prior to this appointment, Sigelbaum worked at Traiana, which she initially joined in 2003, and served as global head of foreign exchange at the time of her departure. This role was also based in New York.

Duco Secures $28m Investment

Duco, a data engineering technology company, has completed a $28m investment round by Insight Venture Partners, Nex Opportunities and Eight Roads Ventures. The round also includes an investment by entrepreneur and former CEO of SunGard, Cristóbal Conde.

Duco provides technology that enables banks, brokers, asset managers and exchanges to normalise, validate and reconcile any type of data in Duco’s cloud, providing firms with on-demand data integrity and insight.

Duco says that it will use the investment to expand its global footprint, with headcount growth in Europe and the US, the launch of an Asia office and an expansion of its product set.

TNS Expands Hosting Services to New York, Chicago

Transaction Network Services (TNS) is expanding its managed hosting, co-location and connectivity service to New York and Chicago.

TNS’s new solution, already launched in Europe and Asia, is aimed at low latency trading firms looking to access key equity, derivatives and FX markets.

The service is designed to allow these firms to enjoy the benefits of proximity co-location, such as ultra low latency exchange access and client cross connects, without the high cost and complexity of researching, procuring, installing and managing trading infrastructure themselves.

CFTC Files Spoofing Charges Against Three Banks, Five Individuals

The US Commodity Futures Trading Commission (CFTC) has filed a total of eight charges against three banks and five individuals for spoofing in precious metals markets as well as other futures contracts.
The Commission issued orders filing and settling charges against Deutsche Bank, requiring it to pay a $30 million fine; UBS, which is to pay a $15 million fine; and HSBC, which will pay $1.6 million. All three banks consented to the orders without admitting or denying any of the accusations.