News
(Institutional Investor)
New research from Coalition Greenwich shows that more than 85 percent of U.S. institutional investors work with a consultant, a statistic that has trended upward in recent years.
(Financial News)($)
Wall Street is raking in record revenue from prime broking as banks look to build deeper ties with their lucrative hedge fund clients. The top 12 prime brokers made $20.4bn in 2023, up more than 25% in a decade, according to analytics firm Coalition Greenwich.
(Traders Magazine)
When we think about the Basel III implications, we are concerned about the implications for our underlying clients, said Michael Winnike, Director, Market Structure, BlackRock. Speaking at the SIFMA’s Basel III Endgame Roundtable on April 18, Winnike highlighted two categories of issues.
(Waters Technology)($)
TP Icap’s Liquidnet is electronifying one of the last bastions of voice trading in European fixed income: the gray market. Trading ‘in the gray’ refers to the act of buying or selling a bond before it has been formally issued. Portfolio managers have long traded bonds among themselves in the days after an offering has been announced, but before the securities have been issued.
(Bloomberg)($)
The Securities and Exchange Commission is in talks with firms seeking to become central clearinghouses for US Treasuries and derivatives trading under a new agency rule designed to fortify the world’s largest debt market. “Several market participants have reached out to us and want to sort of enter the business,” said Haoxiang Zhu, director of the SEC’s Division of Trading and Markets, in response to a question during a virtual discussion Tuesday organized by the Institute of International Finance.
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