News

Handelsbanken selects NeoNet XG for institutional direct market access services

Handelsbanken Capital Markets, a Nordic investment bank, is to provide agency broker NeoNet with a full-service electronic direct market access (DMA) trading solution. NeoNet will deliver NeoNet XG, a hosted system and software service for electronic securities trading. With the NeoNet XG service, the agency broker takes on responsibility for software, hardware, infrastructure, operation and surveillance. In addition to providing software services, NeoNet will handle the administration of back-office services forming a full-service solution for DMA trading. The platform fulfills regulatory requirements for Europe and the US.

Limit on securities transfers through NDC-DCC bridge in Russia raised to US$50 million

National Depository Centre (NDC), the CSD that services the MICEX trading platform in Russia, is raising the valuation ceiling on securities transferable across the bridge between its own systems and the Depository Clearing Corporation (DCC), the CSD that services the RTS trading platform, from US$15 million to US

Expect growth in size, type and trading and settlement efficiency in CDS markets in 2007, but watch out for private equity financing, says GFI Group

In 2007 credit derivatives markets will continue to grow in terms of outstandings, and in the range of instruments on which they are based, but look out for the impact of private equity financings on credit quality. These were chief among the conclusions of an OTC derivatives media briefing hosted by GFI Group - an inter-dealer broker specializing in OTC products - in New York City shortly before Christmas.

Refco creditors look forward to pay-out as Chapter 11 becomes effective

Refco finally fell into Chapter 11 yesterday. The Chapter 11 of Refco and its subsidiaries - including Refco Capital Markets, Ltd. and Refco F/X Associates LLC - became effective yesterday. The Chapter 11 plan had been confirmed by the US Bankruptcy Court in New York on 15 December. The effective date of the plan

North American Forex volume averaged $577 billion in April

The Foreign Exchange Committee has released the results of its fourth Survey of North American Foreign Exchange Volume. For this April 2006 reporting period, it was found that the average daily volume in over-the-counter foreign exchange instruments (including spot transactions, outright forwards, foreign exchange swa

Credit Suisse/Tremont Hedge Fund Index down 0.11% In June

The Credit Suisse/Tremont Hedge Fund Index is down 0.11% in June. "Equity markets across the globe witnessed an increase in intra-month volatility as May's losses spilled into the beginning of June and investors continued to reduce risk across global markets and asset classes," says Oliver Schupp, President of the Cre

Fortress investment group sells 15% stake to Nomura

New York-based hedge and private equity fund manager Fortress has sold a 15 per cent stake to the Japanese securities house Nomura Holdings. The price values Fortress at $6 billion, with Nomura paying $888 million for its stake. Under the deal, expected to close in January, Nomura will take ownership of Class A