Acquisition Helps Deutsche Bank’s Global Strategy Deutsche Bank reports that it has agreed to an all-cash offer of $511 million for the acquisition of London-based corporate broking and advisory firm Numis Corp., and that the transaction will allow the German banking giant to advance its Global Hausbank strategy. Numis provides strategic advice and capital market… Read More >>
Schroders Embraces Blockchain & Other News Briefs
Schroders Takes Minority Stake in Forteus Invesment management giant Schroders is investing in Forteus, an asset manager with a focus on blockchain technology and digital assets. Schroders officials say that they will develop next-generation investment solutions via the new arrangement. Forteus is the asset management arm of the Numeus Group, a diversified digital asset… Read More >>
AllianceBernstein Jolts Corporate Bond Trading via A.I.
Asset manager AllianceBernstein applied artificial intelligence (A.I.) to a corporate bond block trade transaction and found that the effort yielded far greater access to liquidity than conducting the transaction over the phone. The firm used a patented protocol, dubbed RFX, that uses A.I. technology and is part of corporate bond trading platform from LTX, a… Read More >>
BMO Capital Markets Explores Blockchain for Fixed Income
Pilot Involves Canadian Dollar Fixed Income Issuance Transaction BMO Capital Markets has successfully launched a pilot project for a fixed income issuance transaction that is “mirrored on a blockchain platform alongside leading pension fund investor Ontario Teachers’ Pension Plan (Ontario Teachers),” officials say in a prepared statement. “The transaction included Bank of Montreal as… Read More >>
SmartStream Leads Effort to Fill MiFID II Reporting Gap
To fill a MiFID II reporting gap, Ops vendor SmartStream via its Reference Data Utility (RDU) is working with Approved Publication Arrangements (APAs) to operate a Systematic Internalizer (SI) Registry. The SI chores of MiFID II kick in after a determination is made about the frequency and volume of transaction orders that a counterparty crosses… Read More >>
Some Firms Still Favor Manual Client Reporting: Survey
SS&C Survey Focuses on Client Reporting Investor clients are demanding more data from financial services firms but many firms are still relying on manual processes to pull together reports, according to a report sponsored by SS&C Technologies, a financial services software and services vendor. The survey results uncovered that while 100 percent of respondents say… Read More >>
Tradeweb Founder Joins GFI as CME Group Mulls Sale of Nymex Building
Tradeweb Founder Joins GFI Group Tradeweb Markets founder James W. Toffey has joined brokerage GFI Group as global head of electronic markets to oversee GFI’s services as a global operator of electronic marketplaces for professional traders and market makers of cash and derivative financial and commodity products, officials say.At Tradeweb, Toffey served as the CEO… Read More >>
