GL TRADE buys FNX Solutions

Paris-based trading and operations software firm GL TRADE, has acquired FNX SOLUTIONS, an American company that specialises in the management and processing of OTC products. The deal will be closed in the course of February 2007.

Hedge fund investors focused on Asia in 2007, Deutsche Bank survey finds

Interest in China strategies will be high in 2007, but Asian strategies in general are likely to attract assets this year, say investors polled by Deutsche Bank in its Fifth Annual Alternative Investment Survey. The survey was conducted during the second half of 2006.

OMS and execution management software firm Tora Trading Services opens Hong Kong office

Tora Trading Services, a provider of trade execution and order management systems for the Asian financial markets, has opened a Hong Kong office. The company says Tora Trading Services Limited (Hong Kong) was established to meet the growing demand for local support, sales and implementation expertise by its clients in the region.

Mellon offers OTC valuation service to institutional clients

Mellon Financial Corporation has introduced an independent, over-the-counter derivative (OTC) valuation service for a range of swaps and options to institutional clients. Mellon will provide these valuations through third-party vendors, at the direction of the institutions in question.

Charles River Development reports sixth consecutive year of double-digit growth

Charles River Development, a provider of technology systems and services for investment professionals, has announced that 2006 was its sixth consecutive year of double-digit revenue and net-income growth. Charles River brought 50 new clients live on the Charles River Investment Management System (Charles River IMS), its front- and middle-office software suite for all asset classes and security types including credit and other derivatives.