Wombat Financial Software announced yesterday that Jon Lambert takes on the newly created role of CFO after two years of advisory service to the company. Lambert has twenty years' software industry experience, serving as CFO and COO for companies including Contivo, TIBCO Finance Technology, Tibco Software and Ernst & Young.
Eurex Repo, the electronic repurchase agreement (repo) market of the international derivatives exchange Eurex, reached a new peak on 23 February; the daily outstanding volume in the Euro repo market totaled €57.5 billion. The previous record was €55 billion reached on 10 November 2006.
State Street said earlier today that it had completed the closing of its acquisition of Currenex. "The acquisition accelerates State Street's participation in the fast growing electronic foreign exchange trading market while significantly increasing and diversifying State Street's trading customers beyond traditional asset managers to include more active currency managers and hedge funds," said the Boston-based bank in a statement. "Together, State Street and Currenex will provide customers with the most comprehensive set of foreign exchange trading capabilities available in the market place today."
UBS Securities Malaysia becomes Malaysia's first foreign broker to be granted authorised borrower status
Bursa Malaysia has granted UBS Securities Malaysia authorised borrower status under its reintroduced regulated short-selling and securities borrowing and lending activities scheme. "We are delighted at being allowed to participate in the Securities Borrowing and Lending (SBL) framework," says Joe Cavatoni, head of equity swaps, Asia, UBS. "The re-introduction of these measures will contribute strongly to greater liquidity and enhance the attractiveness of the Malaysian market," he adds.
Total hedge fund industry assets increased by $215 billion in 2006 to $1.442 trillion, up 17.5% on a year earlier, according to hedge fund advisory group Hennessee. Hennessee says preliminary results from its survey indicate that the hedge fund industry experienced net inflows of $75 billion (+6.1%) in 2006. The remaining $140 billion (+11.4%) was the result of positive performance, as measured by the Hennessee Hedge Fund Index, which advanced +11.4% in 2006.
Technology-driven agency only brokerage and algorithmic trading pioneers Investment Technology Group (ITG) - best known for pre-trade analysis, trade execution and post-trade analysis, the POSIT equities crossing system and the transaction analysis tool TCA- has hired Michael Green as Head of Information Technology in Europe.
Market data integration specialists Rimes Technologies have added PacificData to their list of data partners. PacificBase is a Japanese company fundamentals database owned by PacificData, and it is now integrated with the analytics and international data already available through Rimes.
Tullett Prebon Information (TPI) says it has started packaging and distribution of its global commodity and energy content, as well as its established money, capital and treasury markets products. To oversee this operation, TPI has appointed Craig Tee as Head of Global Energy and Commodities. Tee joins from Genscape, where he headed up European sales on Power, Gas and Emissions. At TPI, he aims to commercialise information within the trading, risk, valuation and research areas of both the buy and sell side.
Deutsche Bank has appointed Martin Fisch, Managing Director, to Head of Complex Risk Syndication within the Global Markets division. Fisch will report to Serge Marquie, Managing Director and Head of Equity Structuring, and will continue to be based in London. In his new role, Fisch will lead a globally co-ordinated function within Deutsche Bank to syndicate complex equity risk. Fisch, who has been with Deutsche Bank since 1997, is also Head of Equity-Linked Capital Markets for Europe, Middle East and Africa.
Duncan L. Niederauer, a managing director at Goldman Sachs, has left the firm after 22 years to become president and co-chief operating officer of NYSE Group from 9 April. He joins former colleague at Goldman Sachs, John A. Thain, who was president and COO of the investment bank before becoming CEO of the New York Stock Exchange in January 2004.