NEWS
General Motors gives GlobeOp derivative collateral mandate
GlobeOp Financial Services has been awarded a mandate to provide daily collateral management, valuation and reconciliations for General Motors’ over-the-counter (OTC) derivatives portfolio.
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Belgium releases new AIFM compromise proposal
Negotiations on the European Union’s (EU) alternative investment fund managers (AIFM) directive are resuming with a revised compromise proposal from the Belgian government holding the EU presidency.
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Kleinwort Benson wins $150 million Prosperity mandate
Prosperity Capital has awarded Kleinwort Benson the fund administration mandate on its newly-launched closed-end fund.
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Euroclear appoints BNP’s Lieve Mostrey to management committee
Euroclear has named Lieve Mostrey as executive director and chief technology and services officer for the group.
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LCH.Clearnet offers free equity clearing service
LCH.Clearnet is to introduce free equity clearing for average daily member volumes of over 150,000 trades a day. The new tariff will be implemented on October 1.
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BNY Mellon makes senior hires in Broker-Dealer Services
BNY Mellon Broker-Dealer Services has promoted John Vinci and Andrew Demko to two new senior management roles within the business.
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Northern Trust granted licence for Beijing branch
Northern Trust has been granted a licence to open a branch office by the China Banking Regulatory Commission. It has had a representative office in Beijing since 2005.
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Ernst & Young sued by hedge fund investors
A group of US hedge fund investors have filed a lawsuit against Ernst & Young (E&Y), accusing the audit company of fraud, negligent misrepresentation, securities fraud and conspiracy.
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Scipion selects Centaur for fund administration services
Scipion Capital, an investment management company with a specific focus on Africa, has appointed Centaur Fund Services to administer its funds.
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Chi-X Europe approached for takeover putting rival BATS in spotlight
Chi-X Europe, the multilateral trading facility (MTF) launched in 2007, has been approached about a possible takeover by an unidentified bidder.
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US and Chilean depositories sign co-operation agreement
The Depósito Central de Valores of Chile (DCV) and the US Depositary Trust & Clearing Corporation (DTCC) have signed an agreement recognising their relationship and that will serve as a basis for future collaboration.
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RBC Dexia wins Aubrey fund mandate
Aubrey Capital Management has awarded RBC Dexia Investor Services the mandate to service its Australian-domiciled funds.
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Société Générale wins Santander collateral and OTC mandate
Société Générale Securities Services (SGSS) has been awarded a mandate by Santander Asset Management to provide valuation of its over-the-counter (OTC) derivatives and collateral management services.
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Battle for client clearing business set to heat up, reveals survey
A significant proportion of banks are not planning to become members of central counterparties (CCPs), paving the way for fierce competition among the client clearing platforms being rolled out by major dealers.
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EXCLUSIVE: Swift prepares for biggest-ever Sibos
Swift is on track to hold its largest-ever annual event in October according to the number of pre-registrations, said Panos Tzivanidis, head of Sibos.
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State Street upgrades risk analytics tools
State Street has updated its risk analytics and servicing tools to help institutional investors and managers understand portfolio dynamics and sources of risk.
More from Technology
Conifer taps Butterfield for head of fund admin
The Conifer Group has hired Douglas Lang, previously managing director at Butterfield Fulcrum group, as head of fund administration and managing director.
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EXCLUSIVE: Clark unveils acquisition plans at Butterfield Fulcrum
Butterfield Fulcrum’s new CEO Michael Clark has revealed he is already in discussions with several companies about potential mergers and acquisitions, despite only six weeks in the job.
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Russian entities launch DVP settlements
The National Depositary Centre (NDC) of Moscow and the Moscow Interbank Currency Exchange Settlement House (MICEX SH) non-bank credit organisation have launched a new settlements service related to delivery versus payment (DVP) using NDC's and MICEX SH's accounts at Clearstream banking.
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Custom House unveils umbrella platform for emerging managers
Fund administrator Custom House Global Fund Services has launched a Sicav umbrella fund platform for start-up or emerging managers.
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