BGC Group’s GFI has re-established a presence in Japan with the opening of a new office by GFI Group (Japan). The business is being spearheaded by the establishment of a G10 forward FX desk focusing on Yen as well EUR, GBP, CHF, AUD, NZD, CAD and other forwards to service its Japanese and international clients. […]
Elwood Asset Management, an investment firm specialising in digital assets, has partnered with Invesco Asset Management (Japan) to help it launch a new fund. The newly launched Invesco Global Blockchain Equity Fund will be managed by Invesco Capital Management, with a delegation from Invesco Japan, and will track the performance of the Elwood Blockchain Global […]
CLS has announced today that the first Japanese-domiciled funds have access to CLSSettlement as third-party clients.
Asset manager Fidelity International and The Master Trust Bank of Japan (MTBJ), a trust bank exclusively engaged in asset management, have the first Japanese-domiciled funds to settle FX transactions in CLSSettlement. CLS says that this marks the start of a coordinated industry-wide effort to onboard the Japanese buy-side community to its settlement service over the next few years.
Fidelity International and MTBJ are being supported by Brown Brothers Harriman (BBH), which acts as MTBJ’s custodian for non-Japanese securities and related currency movements outside of Japan. BBH has made its third-party access to CLSSettlement available to facilitate MTBJ’s settlement of FX transactions.
The latest round of FX committee semi-annual turnover surveys indicate that activity globally dipped slightly in October 2017 from the previous April, but was up year-on-year.
The US was the bright point amongst the surveys, showing a 6.2% rise from April 2017’s level and 7.2% higher than the previous October, while the UK, still easily the world’s largest FX market, saw activity decline by 4.3% from April, however it was up 5.4% year-on-year. Elsewhere, all centres saw slightly higher activity from the April 2017 survey, however Singapore and Canada were up on a year-on-year basis while Japan and Australia declined slightly.