Hedge Fund Signs Up for Broadridge’s Service The Austin, Texas-based Prophet Capital Asset Management, a $2.3 billion structured credit hedge fund, is using an integrated trading, portfolio management and operating platform from Broadridge Financial Solutions to support a single platform for trading, according to Broadridge. “An established structured credit fund like ours, with a two-decade… Read More >>
LSEG Eyes ETF Growth with XTF Acquisition
The London Stock Exchange Group (LSEG) has added to its exchange-traded fund (ETF) offering with the acquisition of XTF Inc., a US-based provider of ETF data, analytics and ratings. The transaction terms have not been disclosed but following the purchase, XTF will be integrated with LSEG’s Information Services Division, sitting alongside index provider FTSE Russell… Read More >>
Wipro to Acquire Viteos Group for $130 Million
Wipro Ltd., a Bangalore, India-based IT management, consulting and business process services (BPS) company, reports that it has agreed to acquire Viteos Group, a business-process-as-a-service (BPaaS) provider for the alternative investment management industry. The acquisition is meant to add the buy-side capabilities of Viteos to Wipro’s existing sell-side credentials, according to a Wipro statement. Viteos,… Read More >>
Blockchain Hits Its Stride and Barriers
The Blockchain technology behind the Bitcoin cryptocurrency has been gaining a lot of ground lately but a new white-paper warns that “widespread adoption is still years away” because of technological, psychological and cultural barriers. Blockchain technology has been used to create a public ledger to keep track of all Bitcoin transactions “that have ever been… Read More >>
ICAP Invests More in Recs Upstart Duco
Interdealer broker ICAP, a markets operator and provider of post-trade risk mitigation and information services, reports that it has made an additional investment in Duco, a London-based fintech provider of hosted reconciliation services. Terms of the new investment, made via Euclid Opportunities, ICAP’s early-stage fintech funding business, which first invested in Duco in 2012, were… Read More >>
Eze EMS Upgrade Has New Support for Nasdaq’s ACT
Targeting the sell side, fintech provider Eze Software Group is including new support for Nasdaq’s Automated Confirmation of Transactions (ACT) system for over-the-counter (OTC) trades in the Eze Software EMS (RealTick), 11.4 release, the latest update of the execution management system, officials say. ACT, also known as the ACT Service, is a system that enables… Read More >>
Bank of America Vet Joins Holley Holland
Bank of America (BofA) veteran Marty Rose has joined Holley Holland, the self-described “business transformation experts” to build the change management consultancy’s U.S. business, including opportunities in Charlotte, North Carolina, and throughout the region, officials say. Rose, who will be based in Charlotte, has left her post as chief operating office (COO) of the EST… Read More >>
CFTC to Keep Using DTCC-SWIFT LEI Utility
Regulator CFTC has issued an order extending the designation of a utility operated by the DTCC and SWIFT as the provider of legal entity identifiers (LEIs) for the commission’s swap data recordkeeping and reporting rules, officials say. The DTCC-SWIFT utility — which had initially been referred to via the utility’s website and in educational and… Read More >>
RJO Takes a Hosted Leap into Recs Automation
Chicago-based futures brokerage and clearing firm, R. J. O’Brien & Associates (RJO) has gone from manual reconciliation to a hosted system that has allowed staff members to leapfrog into automation, even shrinking one process from a tedious 48-hour effort to minutes, says Jamal Oulhadj, senior managing director and chief risk officer of RJO. Since last… Read More >>
Convergex Fills CFO Post
Convergex, an agency-focused brokerage and trading-related services provider, reports that Frederick Arnold has joined the firm as chief financial officer (CFO). Arnold will oversee all global financial operations and serve on the executive committee, responsible for providing organizational guidance and governance, Convergex officials say. Currently a director of Lehman Brothers Holdings Inc. and Corporate Capital… Read More >>
