Thursday 2nd April 2015
NEWS TICKER: WEDNESDAY, APRIL 1st 2015 : The EBRD is considering a credit line of up to €15m to Všeobecná úverová banka a.s. (VUB) in the form of an extension of a €5m existing facility signed in December 2014, bringing the total amount provided to VUB under SlovSEFF III to €20m. This operation will enable VUB to provide sub-loans to companies and residential sector borrowers (housing associations) for energy efficiency and renewable energy investments in the Slovak Republic and provide financing for sustainable energy projects with a focus on reducing greenhouse gas emissions and assist in mitigating high energy and carbon intensity in the region - CMS says it has advised Orifjan Shadiyev, owner of Capital Bank Kazakhstan, on the acquisition of RBS’s business in Kazakhstan (RBSK). The CMS team was led by Graham Conlon, a partner in the corporate and international private equity team, and supported by senior associate Tetyana Dovgan - CBRE Group Inc says it has agreed to acquire the Global WorkPlace Solutions (GWS) business of Johnson Controls Inc. (JCI) for $1.475bn in cash. GWS is a provider of integrated facilities management solutions for occupiers of commercial real estate and has operations around the world – The Securities and Exchange Board of India (SEBI) says it has allowed OTC Exchange of India (OTCEI) to exit as a bourse from the nation's securities markets. According to SEBI, OTCEI had complied with the regulator's conditions for exit and is therefore "a fit case to allow exit" from capital markets adding that the bourse had made payment of necessary dues to the regulator, including 10% of the listing fee and the annual regulatory fee. "From the valuation report and undertaking of OTCEI, it is observed that all the known liabilities have been brought out and that there is no other future liability that is known as on date," SEBI said in the order dated March 31. In allowing the exit, SEBI has asked the bourse to change its name and not to use the description ‘Stock Exchange’ or any variant of it and to avoid any representation of present or past affiliation with the stock exchange, in all media. The central government had granted recognition to OTCEI, as a stock exchange on August 23, 1989 initially for a period of 5 years, which was subsequently renewed from time to time. As per SEBI’s rules, a stock exchange, whose annual trading turnover on its platform is less than Rs1,000 crore, can apply for voluntary surrender of recognition and exit, while a bourse which fails to achieve a turnover of Rs 1,000 crore, is subject to a compulsory exit process - Independent subsea remotely operated vehicle (ROV) services provider, ROVOP, has established a Western Hemisphere headquarters and support base in Houston and has hired three ROV industry professionals to lead the business. Scott Wagner, Brett “Gonzo” Eychner and Wayne Betts bring a combined total of more than 100 years’ global experience in the ROV services sector to ROVOP. They join an established management team and staff of 130 based in Aberdeen, Scotland, who have developed ROVOP into a leading player in the ROV field. The company’s client portfolio includes oil & gas, offshore wind and telecommunications companies. Mark Vorenkamp, chairman of ROVOP, said: “ROVOP is changing the market for ROV services. Over the last two decades, ROV technology, capability and service has fallen behind the pace of change seen in other industries. ROVOP’s facility is located in North West Houston on a 1.5 acre site which includes a 4,500 ft2 office and 17,300 ft2 workshop where the company will manage their fleet of FMC Schilling Robotics and SAAB Seaeye ROVs. “The recent mobilisation of two Schilling Ultra-Heavy Duty (UHD) Generation III ROVs, capable of closing a blowout preventer (BOP) within 45 seconds to meet American Petroleum Institute (API) requirements, illustrates ROVOP’s commitment to supporting clients with industry leading technology in the Gulf of Mexico,” says Wagner - The Straits Times Index (STI) ended +0.01 points higher or 0.00% to 3447.02, taking the year-to-date performance to +2.43%. The FTSE ST Mid Cap Index gained +0.02% while the FTSE ST Small Cap Index declined -0.04%. The top active stocks were CapitaLand (unchanged), SingTel (-0.23%), UOB (+0.22%), DBS (+0.15%) and ST Engineering (unchanged). The outperforming sectors today were represented by the FTSE ST Technology Index (+1.13%). The two biggest stocks of the FTSE ST Technology Index are Silverlake Axis (+1.83%) and STATS ChipPAC (unchanged). The underperforming sector was the FTSE ST Basic Materials Index, which declined -1.24% with Midas Holdings’s share price unchanged and Geo Energy Resources’s share price gaining+0.52%. The three most active Exchange Traded Funds (ETFs) by value today were the DBXT MSCI Indonesia ETF (+0.14%), LYXOR China H (+0.29%), DBXT FT China 25 ETF (+1.75%).

Tradeweb expands Dealerweb division with brokerage acquisition

Wednesday, 18 April 2012
Tradeweb expands Dealerweb division with brokerage acquisition Tradeweb Markets completed the acquisition of the brokerage assets of Rafferty Capital Markets, LLC in mid March. Now that it has bought a New York-based registered broker-dealer, Tradeweb plans to launch an electronic inter-dealer marketplace for US Treasuries later this year. This latest acquisition underscores the firm’s strategy to expand the reach of its Dealerweb inter-dealer division, which evolved out of Tradeweb’s purchase of brokerage firm Hilliard Farber & Co, back in 2008. http://www.ftseglobalmarkets.com/

Tradeweb Markets completed the acquisition of the brokerage assets of Rafferty Capital Markets, LLC in mid March. Now that it has bought a New York-based registered broker-dealer, Tradeweb plans to launch an electronic inter-dealer marketplace for US Treasuries later this year. This latest acquisition underscores the firm’s strategy to expand the reach of its Dealerweb inter-dealer division, which evolved out of Tradeweb’s purchase of brokerage firm Hilliard Farber & Co, back in 2008.

Tradeweb Markets completed the acquisition of the brokerage assets of Rafferty Capital Markets, LLC in mid March. Now that it has bought a New York-based registered broker-dealer, Tradeweb plans to launch an electronic inter-dealer marketplace for US Treasuries later this year. This latest acquisition underscores the firm’s strategy to expand the reach of its Dealerweb inter-dealer division, which evolved out of Tradeweb’s purchase of brokerage firm Hilliard Farber & Co, back in 2008. “The Rafferty brokerage team further extends and expands our business in the IDB Rates markets through the strength of their dealer relationships and our proven technology and industry experience,” explains Billy Hult, president, Tradeweb Markets.

Rafferty Capital Markets is the trading and brokerage arm of Rafferty Holdings, a privately-owned firm established in 1987. Following the acquisition, the brokerage desks for US Treasuries, US agencies, mortgages, repo, corporate bonds, taxable municipal bonds and the JJ Kenny Drake tax-exempt municipal bond brokerage group will join the Dealerweb division. It has been a successful accretive business approach; since launching its IDB business, trading volumes have more than doubled, with the fastest growth taking place on Tradeweb’s electronic trading platforms.



Rafferty Capital Markets will continue to operate as a registered broker-dealer. Rafferty Holdings will also continue to operate their other business, Direxion Funds/ETF’s and Hilton Capital Management.

The creation of an inter-dealer business in 2008 was a natural extension for Tradeweb, which claims that by leveraging its technology and market expertise and the strong voice franchise of the Rafferty brokerage team, Dealerweb will provide a fully integrated hybrid voice/electronic trading solution for off-the-run US Treasuries.

The new platform is expected to launch later in Q4 2011. “This is an important transaction for Tradeweb Markets, which enhances our position in the top tier of the IDB markets,” claims Lee Olesky, Tradeweb’s chief executive. “As market structure continues to evolve, our rapidly growing and diverse portfolio of businesses will enable us to lead the migration towards more transparent and efficient financial markets.” 

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