Month: July 2018

Cobalt Goes Live on BT Radianz Cloud

Cobalt, a London-based back and middle office infrastructure provider, announced that it will be hosting its systems in the BT Radianz Cloud.

The Cobalt system delivers this shared infrastructure by using a combination of an immutable shared ledger and low latency technology in a bid to “significantly reduce post-trade cost and risk for the financial markets”. By creating a shared view of trade data, Cobalt seeks to free up back and middle office resources from multiple layers of reconciliation; creating one immutable record of FX transactions from which to provide multiple services.

Thomson Reuters Partners with Cryptocurrency Aggregator

Thomson Reuters is partnering with CryptoCompare, a cryptocurrency market data aggregator, to integrate order book and trade data for 50 cryptocoins onto its Eikon platform.

In a release issued today the two companies claim that adding CryptoCompare’s data to the Eikon platform will allow trading professionals and investors to gain a comprehensive view of the cryptocurrencies market and of market participant behaviour, enabling them to predict price movements with a high degree of probability.

Eikon users will be able to see data for actively trading coins, allowing them to potentially identify buy and sell opportunities and expand their digital asset portfolios.

LMAX Launches Rugby Challenge

LMAX Exchange has announced the launch of the LMAX Exchange Everest Rugby Challenge, hosted in partnership with Wooden Spoon, the UK’s children’s rugby charity. ?
Taking place in April 2019, the event will mark the first-ever attempt to set two Guinness World Records for the highest altitude rugby matches on Mount Everest. The event will aim to raise a minimum of £200,000 for Wooden Spoon, a charity committed to transforming the lives of disadvantaged and disabled children and young people across the UK and Ireland through the power of rugby.
The two records are for the highest altitude game of full contact rugby played and the highest altitude game of mixed touch rugby played.?

Topple Named as Euronext London Head

The Supervisory Board of Euronext has unanimously approved the appointment of Chris Topple as CEO of Euronext London, head of global sales and a member of the Managing Board of Euronext, subject to all relevant shareholder and regulatory approval.
Topple, who worked extensively in brokerage and clearing services throughout his career, will oversee sales across all asset classes. He will take up his new role based in London on 15 October 2018. Paul Humphrey, current interim CEO of Euronext London and head of global sales, will remain in his current role as global head of FICC.

Mesirow Expands with TCS Acquisition

Mesirow Financial has agreed to acquire assets of The Cambridge Strategy (Asset Management) (TCS) a UK-based currency alpha investment firm.
TCS was co-founded by Peter Henricks, CEO, and Russell Thompson, CIO, in 2003, and offers currency alpha strategies for return-seeking investors. Headquartered in London with offices in Hong Kong and Monaco, TCS has over $3 billion in assets under management in passive and active strategies.
The TCS team will be incorporated into Mesirow’s existing global currency team, all reporting to Hoffman.

Derivatives Revenues Drive Profit Growth at SGX

Singapore Exchange (SGX) today reported a net profit of S$363.2 million for the year ending June 30, a 7% increase from the previous year.

This partially driven by a 12% increase in revenues from the exchange’s derivatives business, up to S$339.8 million, meaning that this business line contributed 40% of SGX’s total revenue.

Loh Boon Chye, CEO of SGX, says: “FY2018 was a record milestone in our financial performance as we achieved our highest revenue since listing in 2000 and the highest profit in five years.

Team Jump to Swim Across English Channel for Charity

Mark (“Speedo”) Bruce, head of FICC, Matt Schrecengost, COO, Peter Deaner, head of Europe, and three additional colleagues from Jump Trading, will undertake a relay swim across the English Channel next week – from Dover to Calais – as part of the company’s annual challenge to itself to take part in an event that raises funds to support worthy charities. The team will follow Channel Swimming Association rules and conquer the challenges associated with it and those which come with that stretch of water.

CLS and IBM Partner in DLT Initiative

CLS and IBM have announced a collaboration on a proof of concept (PoC) for LedgerConnect ? a distributed ledger technology (DLT) platform for the financial services industry designed to enable sell and buy side firms, FinTechs and software vendors to deploy, share and consume services hosted on a shared distributed ledger network.
The companies say that on the new initiative financial institutions will be able to access services in areas such as, but not limited to, know your customer processes, sanctions screening, collateral management, derivatives post-trade processing and reconciliation and market data.

And Finally…

There are those in the FX world who believe the narrative of a return to bilateral, relationship-based trading was driven by a group of liquidity providers talking their book. Looking at the numbers in last week’s FX committee turnover surveys, specifically the spot e-trading statistics from the UK and US, I think it is fair to say that the cynicism is wrong, or the narrative is working, or both, because the last two years has seen a definitive shift in trading away from anonymous venues towards disclosed channels.

FMSB Publishes (Mis)Behaviour Cluster Analysis

The FICC Markets Standards Board (FMSB) has published its Behavioural Cluster Analysis (BCA) study, a piece of research that has reviewed the behavioural patterns in 390 cases of misconduct in financial markets over an extended period of time (225 years stretching back to 1792) and covering 26 countries and multiple asset classes. This review indicates that the behavioural patterns evident in misconduct events are not unique to each case but that the same 25 behavioural patterns are evident in market misconduct cases and these consistently repeat and recur over time.