News

Celent predicts that the operational risk and compliance market will grow to $1.16 billon by 2009. Risk-driven regulatory initiatives, like Basel II and the Sarbanes-Oxley Act, have significant momentum and are giving rise to new operational risk management practices, says the consultant.

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

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.

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

The UK financial markets regulator, the Financial Services Authority (FSA), made clear in a newsletter published shortly before Christmas that it intends to investigate a number of suspected cases of insider trading after concluding that there has been "information leakage" ahead of a small number of re

The Spanish cash and derivatives exchanges group, Bolsas y Mercados Espa?oles (BME), is to distribute a EUR 50 million interim dividend charged to the 2006 consolidated results. It is equivalent to EUR 0.598 per share, an increase of 105% in respect to the 2005 interim dividend.

SS&C Technologies is to release a new management system for hedge funds called Marathon HF. The new platform allows hedge funds to adopt .Net technology from Microsoft.It also gives users tools for investor communications and reporting, while maintaining a secure repository of every transaction. "We've dedicated yea

Brussels-based financial messaging co-operative SWIFT has upped its commitment to increasing the rate of automation in the OTC derivatives industry by agreeing with the International Swaps and Derivatives Association (ISDA) to provide FpML messaging services over its SWIFTNet network. SWIFT reckons the service will ap

The Bank of New York (BNY), order management application provider Eze Castle Software and private equity house GTCR Golder Raunerhave formed a new company that unites BNY Securities Group's trade execution, commission management, independent research and transition management businesses with the order management appli

Brokers, exchanges and larger hedge funds need a comprehensive strategy to manage and leverage different forms of internal liquidity, according to an industry research note published by TABB Group. "Liquidity Management: Pushing Automated Trading Beyond Agency Brokerage" claims that although firms are automating thei