Competition authority escalates investigation into ICAP-Tullett deal
Sale of voice broking business to Tullett Prebon is now subject to level 2 investigation by regulators.
Sell-Side
European bank in second short-selling ban in a week
Short-selling in shares of Portugal’s largest private bank Banco Comercial Português (BCP) was halted for the second time in a week today by the country’s financial regulator.
Goldman’s Asia futures head to retire
Davies will be replaced by James Busby to head the bank's futures business in the region.
Nomura launches Singapore-based Infrastructure business unit
The Asia Infrastructure Project Office to work as an intermediary and network hub between Southeast Asia and Japan.
Adam Toms steps down as Instinet Europe CEO
Toms, who is leaving firm to pursue other interests, will be replaced by current head of sales and trading, Richard Parsons.
Credit Suisse to outsource post-trade derivatives ops to FIS utility
Capital costs and increasing workflows have resulted in banks looking to outsource certain derivatives operations to utilities.
Lack of trading activity set to hurt bank revenues in Q2
Analysts at JP Morgan predict further slumps in investment bank revenues as trading floors remain quiet.
Wells Fargo doubles US swaps client clearing business
Client collateral held at Wells Fargo doubled over the year, while European banks saw their volumes contract.
Liquidnet continues push into Europe with German hire
Dirk Griesmeyer joins Liquidnet from Bank of America Merrill Lynch, aiming to grow institutional trading network’s German client base.
ICAP to become NEX after Tullett deal completes
Sale will see Tullett take control of ICAP brand with new electronic and post trade business to be branded NEX Group.