Abacus Group , a provider of cloud and hosted IT solutions for hedge funds and private equity firms, has released FileDriver, a new service that automates routine file transfers and protects businesses against disruptions caused by failed file transfers, according to a company statement. FileDriver aims to reduce time spent troubleshooting for failed file transfers… Read More >>
Swaps Exchange Hits Milestone as Sapient’s Cloud Links to Clients
Swaps Exchange Processes $100B of Bunched-Order Allocations trueEX Group, the New York-based electronic exchange for interest rate swaps, reports that it has successfully processed more than $100 billion in bunched-order allocations via its newly activated Post-Trade Services (PTS) platform. trueEX’s PTS platform allows buy-side clients and their futures commission merchants (FCMs) to directly allocate executed… Read More >>
SimCorp Acquires All of Equipos as Raiffeisen Bank Automates Recs
SimCorp Acquires 100% of Equipos SimCorp, a vendor of investment and portfolio management software and services, will fully acquire reporting software vendor Equipos for $13.9 million (£8.3 million) as SimCorp expects total ownership will encourage existing clients to adopt Equipos’ solutions. SimCorp, which already owns 20% of Equipos, will be purchasing the remaining 80% of… Read More >>
Special Report: FIX Moves Into Post-Trade Processing
Buy- and sell-side firms are reassessing their post-trade infrastructures and looking for cost-effective ways to streamline operations. Firms are finding a new ally in their post-trade quest: the venerable FIX protocol, which is extending nicely from the front office into middle office functions. Technology vendors and service providers are moving fast to meet a growing… Read More >>
LGIM Signs On for Misys Sophis Platform as Actiance Launches Alcatraz
Legal & General Investment Management to Deploy Misys Platform London-based investment manager Legal & General Investment Management (LGIM) will be deploying the fixed income portfolio and risk management platform Misys Sophis VALUE to govern its fixed income trading and liability-driven investment (LDI) businesses, say officials from the firm and Misys. The firm is using the… Read More >>
Thomson Reuters to slash 3,000 jobs as BI-SAM Hires Performance Measurement Expert
Thomson Reuters to Cut 3,000 Jobs Market data products and systems vendor Thomson Reuters will be cutting 3,000 jobs, mostly from its Financial and Risk division, according to an internal memo that emerged at the same time as the company’s reporting of third quarter results.The financial results include a $350 million charge that will… Read More >>
Could FIX Disrupt Post-Trade Processing?
Buy-side firms and vendors in the U.S. are exploring extensions of the FIX protocol to post-trade processes. But stretching FIX in this way will stir up battles over standard and proprietary protocols and whether post-trade processing should be done locally among firms or through a centralized matching system. The outcome of these battles may determine… Read More >>
Co-Sourcing with Service Providers
Hedge fund South Ferry Capital Management is applying a “co-sourcing” strategy for its service providers, which includes its IT support, in an attempt to create “an institutional quality infrastructure” and keep headcount to a minimum, says Marshall Terry, who is managing principal, chief operating officer and chief compliance officer for the New York-based firm.The firm,… Read More >>
