Another anti-ESG push from the right is emerging and this time it’s taking aim at what is arguably the world’s largest asset manager. The attorney general for the Grand Canyon state Mark Brnovich earlier this month created “a coalition of 19 states that sent a letter to BlackRock Inc., calling out its practices of putting… Read More >>
Is ESG Blurring Too Many Lines?
ESG-based investing efforts and their related operational adjustments are getting real for many securities firms. And the ESG push is beginning to blur many lines that many never questioned before. For those who have not been following ESG too closely, the Investopedia website offers a succinct definition: “Environmental, social, and governance (ESG) criteria are a… Read More >>
Credit Suisse & Instinet Use Blockchain for T+0 Settlement
Instinet & Credit Suisse Use Paxos Settlement Service Instinet and Credit Suisse used blockchain technology from Paxos Trust Company to settle U.S. listed equities trades on a same-day, T+0 settlement, cycle via the Paxos Settlement Service, the market infrastructure provider confirms. “The trades occurred [March 4, 2021] at 11 AM ET and 3 PM ET… Read More >>
CME’s Eurodollar Options Floor to Reopen in August
CME to Add Safety Measures to Options Floor CME Group reports that it will reopen its Eurodollar options trading pit on August 10, 2020. In advance of that reopening date, the company intends to “reconfigure the pit to meet social distancing standards and put additional safety measures in place,” CME officials say in a statement. “All… Read More >>
Pension Advisory Firm Moving to Web-based Risk Platform
Broadstone, a London-based pensions, actuarial and investment services advisory firm to small and medium-sized sponsors and trustees, is the latest organization to sign up to the web-based RiskFirst PFaroe platform to get a more holistic view of risk management. PFaroe enables defined benefit (DB) pension plans direct access to a broad range of analytics that… Read More >>
CalSTRS to Hire Firms Leading the ESG Charge
A major pension fund, the California State Teachers’ Retirement System (CalSTRS), which oversees a portfolio of $193.2 billion, is giving its very public blessings to investment strategies that embrace environmental, social and governance (ESG) goals with the news that it wants to hire six public equity investment management firms with “ESG expertise.” Candidates will have… Read More >>
Canadian Mounties’ Pension Fund Alleges Saba Capital Cheated Them
In a rare move by a pension fund, the Public Sector Pension Investment Board (PSP) is suing Saba Capital Management, alleging that the hedge fund cheated PSP, which benefits Canadian Mounties, during a $500 million redemption process. In response, Boaz Ronald Weinstein, the founder, partner, and chief investment officer for Saba Capital said in a… Read More >>
Calpers to Sever Ties with Half of External Managers
More than half of the external investment managers currently retained by Calpers could soon find themselves on the chopping block, as the largest public pension fund in the U.S. seeks to cut those relationships down to 100 from the current total of 212, in an attempt to decrease costs and overall risk and complexity. “Calpers… Read More >>
Calpers to Provide Liquidity to the OCC
The Options Clearing Corp. (OCC), a Chicago-based equity derivatives clearinghouse, has reached an agreement with the California Public Employees’ Retirement System (Calpers), the largest pension fund in the U.S., to establish a liquidity facility that will allow the OCC to tap Calpers for cash in the event of a default at one of its counterparties,… Read More >>
