News
(Global Data)
JP Morgan and Houlihan Lokey led the financial advisers ranking for mergers and acquisitions (M&A) value and volume, respectively, in North America for the first quarter (Q1) of 2024, according to GlobalData’s latest financial advisers league table.
(Reuters)
U.S. equity funds registered their fourth successive weekly outflows in the week ended April 24, hit by fading expectations for rate cuts this year. LSEG data showed a withdrawal of $1.2 billion from U.S. equity funds, though the figure was less than the previous week’s, as optimism over solid corporate earnings, especially from major tech firms, provided some support.
(Nasdaq)
For decades, everyday investors have looked to Wall Street’s brightest and most-successful investors for inspiration and ideas as to where they should put their own money to work. Thanks to Form 13F filings with the Securities and Exchange Commission, investors are able to peer over the proverbial shoulders of Wall Street greats like billionaires Warren Buffett, Ken Griffin, Ken Fisher, and Steven Cohen, to see what they been up to.
(Financial Times)
The US Federal Trade Commission’s action to ban non-compete agreements has left Wall Street businesses rushing to restructure contracts and find new ways to tie down the high-priced personnel that their business models rely on. The contracts, which constrain a worker’s ability to work for a competitor for a certain period of time after leaving their current employer, have long been a hallmark at big banks, brokers, asset managers and hedge funds.
(Traders Magazine)
The broker-dealer space is undergoing significant transformation with the number of U.S. brokerage firms continuing to shrink. There were 3,378 firms registered with FINRA in 2023, a decrease of 16 firms from 2022, 229 firms from 2018 and 1,448 firms from 2017, according to the regulator’s 2023 Industry Snapshot report. David Choate, COO at CAPIS said that fixed costs continue to rise, while the overall commission pool shrinks: “This leads to one of only two growth possibilities – broker-dealers must take market share or buy market share”.
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Nomura Profit Jumps on Fixed-Income Trading, Retail Boom
(Bloomberg)($)
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Multi-asset trading: the ultimate balancing act
(Global Trading)
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Flows to European ESG exchange traded funds halve in first quarter
(Financial Times)
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Prop shops recoil from EU’s ‘ill-fitting’ capital regime
(Risk.net)($)
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LSEG shareholders to vote on doubling CEO’s potential pay
(Yahoo! Finance Canada)
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Virginie Saade: Benefits of consolidated tape ‘cannot be overstated’
(Global Trading)
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Hedge Fund Capital Still Growing: HFR
(The Full FX)
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Investment Consultants Are Bigger — and More Influential — Than Ever Before
(Institutional Investor)
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Banks rake in billions as prime broking continues to soar
(Financial News)($)
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Securities Industry Advance to T+1 Slows
(The Full FX)
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Goldman strikes deal to exit robo business
(Investment News)
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Equity and multi-strategy hedge funds lead Q1 2024 recovery
(Funds Europe)
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New York Stock Exchange tests views on round-the-clock trading
(Financial Times)
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Liquidnet expands equities services offering
(Global Trading)
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A 28-Mil Head Start
(IEX Exchange)
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Welcome to the dark side
(Best Execution)
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After Kicking Off Mutual-Fund Era, MFS Plans ETF Foray
(Bloomberg)($)
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Marex Group, Shareholders Seek Up to $323 Million in US IPO
(Bloomberg)($)
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Barclays, Goldman Sachs, Jefferies to lead Marex’s New York IPO
(Financial News)($)
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A Slimmer Goldman Sachs Posts Hefty Jump in Profit
(New York Times)($)
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