Connectivity and IT infrastructure solutions provider Avelacom has opened a new office in Singapore, managed by Gabriel Bassas, who has been appointed VP sales for APAC.
In the past year Avelacom says it has seen double-digit growth in new business volumes coming from the APAC region, driven by clients demanding professional-grade connectivity services between APAC venues and exchanges, and to those in Europe and the USA.
It adds, that new business is expected to increase over the next few years, also driven by the growth of APAC crypto exchanges, which are starting to deploy high performance physical IT infrastructure demanded by trading institution clients.
The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 1.29% loss in October. Year to date, the Index is down 2.87%.
Six of the firm's Managed Futures indices lost ground in October, while three had gains. Cryptocurrency Traders gave up 3.62% in October, MPI Barclay Elite Systematic Traders lost 3.15%, Diversified Traders were down 2.32%, the Systematic Traders Index lost 1.93% and Financial/Metals Traders dropped 0.43%. The Currency Traders Index had the largest gain in October.
Integral development Corp has announced a partnership with Moscow Exchange (Moex). Under the deal, through its Open Currency Exchange (OCX), Integral will deliver access to liquidity, higher performance, and lower latency to Moex customers, and Moex will now provide liquidity to the Integral network.
“[Moex] are the dominant exchange in the Russian FX market, and by using the Integral platform, they will be able to offer the best aggregation and deepest liquidity to their clients,” says Harpal Sandhu, CEO of Integral. “Moex will also become a price provider to the Integral network, thereby further enriching the liquidity in OCX.”
The Financial Stability Board (FSB) has issued two reports studying the implementation of its reform programme for OTC derivatives markets and says that “good progress” continues to be made across its agenda.
Studying the period from end-June 2017, the report concludes that 21 out of 24 FSB member jurisdictions have comprehensive trade reporting requirements in force, up by two since end-June 2017. The three to yet put the reporting frameworks in place are Argentina, South Africa and Turkey, however the FSB says the three have made “some progress” in that period, particularly Turkey.
Louisa Kwok has joined State Street Global Link in London as product manager in its trade services business. Confirming her appointment, a spokesperson for the bank says she reports to Kate Lowe, global head of trade services.
Kwok joins after a one year stint at JP Morgan, where she was executive director, product delivery, for the bank’s investment middle office services unit in its Custody & Fund Services business. This was her second term at the bank, having worked there from 2002 to 2009.
LCH has received approval for an extension to its clearing licence from the Japanese Financial Services Agency (FSA). The licence extension was granted on 31 October 2018 and enables LCH’s ForexClear service to clear NDFs on behalf of banks and clients based in Japan.
This latest approval comes in addition to LCH’s existing licence to clear non-Yen OTC interest rate derivatives in Japan, which was granted by the FSA in 2016. Prior to LCH obtaining this latest licence, Japanese customers could only access ForexClear through international subsidiaries.
Refinitiv has signed an agreement with Nordic investment management firm E. Öhman J: or Fonder (Öhman) to deliver an end-to-end workflow solution for its investment management business.
The firm says the agreement will cover the entire pre- to post-trade workflow, and allows Öhman to leverage the full depth of Refinitiv desktop, trading, data, and analytical solutions. In a related move, Öhman is also partnering with the OMS/PMS platform from AlphaDesk, a Software-as-a-Service (SaaS) provider of STP software for the buy-side.
Hedge Funds gave up 3.06% in October according to the Barclay Hedge Fund Index compiled by BarclayHedge, versus a 6.84% decrease in the S&P 500 Total Return Index. Year to date, the Barclay Hedge Fund Index is down 1.90%, while the S&P has gained 3.01%.
Overall, 16 of Barclay’s 17 hedge fund indices had losses in October, while only one index had a gain.
The Barclay Fund of Funds Index gave up 2.69% in October, and has moved into negative territory with a 2.34% loss for the year.
OTCXN say has launched its OTC Block Trading venue for crypto trading – what it says will be the first of several trading venues that will be launched for institutional-only digital asset trading.
After a period of successful testing, the venue is now open to all clients with accounts at custodians on the OTCXN network, including Kingdom Trust and Prime Trust, both of whom are regulated US entities that offer custody services for fiat and cryptocurrencies. Trading on the venue includes fiat-for-crypto, crypto-for-crypto and fiat-for-fiat, the firm says.
Completing a very mixed month-on-month picture for FX trading venues, Deutsche Borse’s 360T reports average daily volume (ADV) of EUR 74.7 billion in October, a fraction below last month’s EUR 75.7 billion.
Previously EBS, FastMatchFX, FXSpotStream, CboeFX and Integral had reported an increase from September, while CME Group and Refinitiv were slightly down.
Since July 2018, 360T’s data has included ADV from GTX, the platform it bought earlier this year, taking GTX’ October 2017 volume into account and reflecting it in euros indicates that the combined year-on-year turnover is up a fraction from EUR 74.4 billion last year.