BestX, State Street’s FX and fixed income best execution analytics platform, has expanded its execution analytics software and launched a post-trade transaction cost analysis module for equity markets. State Street, which bought TCA specialist Elkins/McSherry in 1999, intends to integrate both platforms to deliver a single TCA offering.
Category: Capital Markets
BNP Paribas wins EUR2.3bn sec lending mandate for Fondoposte in Italy
BNP Paribas Securities Services has been appointed to provide securities lending services to Fondoposte, the national supplementary pension fund for the employees of Poste Italiane S.p.A. BP2S will provide Fondoposte with securities lending services covering approximately EUR2.3bn of assets. BP2S has been providing depositary banking services to Fondoposte since 2016.
BNY Mellon to build out FX presence in Singapore
BNY Mellon plans to build a high-performance FX pricing and trading engine in partnership with the Monetary Authority of Singapore. The bank will establish new low-latency electronic FX infrastructure in Singapore, helping to improve execution quality and price discovery for clients initially in spot, and subsequently in deliverable and non-deliverable forwards and swaps. This follows…
State Street joins forces with Coremont to offer E2E service for hedge fund managers
State Street has entered into an alliance with Coremont, the operations specialist that was spun out from Brevan Howard, a UK hedge fund manager. The alliance will provide fully integrated outsourcing services for hedge fund managers, covering front, middle and back office operations, combining Coremont’s portfolio management analytics and support with State Street’s asset servicing…
Northern Trust deploys machine learning for FX management
Northern Trust has enhanced its currency management solutions with machine learning models designed to enable greater oversight of thousands of daily data points and help reduce risk throughout the currency management lifecycle. The solution has been developed in conjunction with Northern Trust’s strategic partner, Lumint Corporation. The advanced technology used by the Robotic Oversight System…
State Street collaborates with CLS for FX settlement reporting
State Street is collaborating with CLS, an FX market infrastructure group delivering settlement, processing and data solutions, to provide asset managers with a consolidated view of CLS settlement information across their accounts for the first time. The collaboration will combine TradeNeXus, State Street’s electronic post-trade processing service, with CLS’s post-trade monitoring and reporting tool, CLSTradeMonitor,…
CACEIS and Amundi joins forces for front-to-back solution
CACEIS has partnered with Amundi, the French asset manager, to offer a front-to-back outsourcing solution for asset owners and managers. This brings together Amundi Services’ ALTO portfolio management platform with CACEIS’ middle office and back office services. Both CACEIS and Amundi are owned by Crédit Agricole.
MUFG IS hires two seniors for FX business
MUFG Investor Services is expanding its FX service offering with two new senior hires. Hans Jacob Feder has joined as global head of FX services, based in London and reporting to John Sergides, CEO. He was previously at J.P. Morgan Securities, where his most recent role was head of FX services execution. Al Baptiste joined…
HSBC to merge markets and securities services
HSBC has become the latest universal bank to merge its markets and securities services businesses. After a period of due diligence, HSS will be combined with global markets to form a new unit, Markets and Securities Services. Allegra Berman and Richard Godfrey, co-heads of HSS, will report to Georges Elhedery, co-head of global banking and…
Genesis IM takes Northern’s ITS solution for global equities
Northern Trust is to provide its Integrated Trading Solutions service to UK-based Genesis Investment Management for global equity trading. Neil Dacey, head of trading at Genesis, will take up a management role in Northern Trust’s trading team overseeing emerging markets execution. This builds on Northern Trust’s existing fund administration and custody relationship with Genesis for…