Sunday 1st February 2015
NEWS TICKER FRIDAY, JANUARY 30TH: Morningstar has moved the Morningstar Analyst Rating™ of the Fidelity Japan fund to Neutral. The fund was previously Under Review due to a change in management. Prior to being placed Under Review, the fund was rated Neutral. Management of the fund has passed to Hiroyuki Ito - a proven Japanese equity manager, says Morningstar. Ito recently joined Fidelity from Goldman Sachs, where he successfully ran a Japanese equity fund which was positively rated by Morningstar. “At Fidelity, the manager is backed by a large and reasonably experienced analyst team, who enjoy excellent access to senior company management. While we value Mr Ito’s long experience, we are mindful that he may need some further time to establish effective working relationships with the large team of analysts and develop a suitable way of utilising this valuable resource,” says the Morningstar release - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in December. No administrative hearings are scheduled for February 2015. The FDIC issued a total of 53 orders and one notice. The orders included: five consent orders; 13 removal and prohibition orders; 11 section 19 orders; 15 civil money penalty; nine orders terminating consent orders and cease and desist orders; and one notice. More details are available on its website - Moody's Investors Service has completed a performance review of the UK non-conforming Residential Mortgage Backed Securities (RMBS) portfolio. The review shows that the performance of the portfolio has improved as a result of domestic recovery, increasing house prices and continued low interest-rates. Post-2009, the low interest rate environment has benefitted non-conforming borrowers, a market segment resilient to the moderate interest rate rise. Moody's also notes that UK non-conforming RMBS exposure to interest-only (IO) loans has recently diminished as the majority of such loans repaid or refinanced ahead of their maturity date - The London office of Deutsche Bank is being investigated by the Financial Conduct Authority (FCA), according to The Times newspaper. Allegedly, the bank has been placed under ‘enhanced supervision’ by the FCA amid concerns about governance and regulatory controls at the bank. The enhanced supervision order was taken out some months ago, says the report, however it has only just been made public - According to Reuters, London Stock Exchange Group will put Russell Investments on the block next month, after purchasing it last year. LSE reportedly wants $1.4bn - Legg Mason, Inc. has reported net income of $77m for Q3 fiscal 2014, compared with $4.9m in the previous quarter, and net income of $81.7m over the period. In the prior quarter, Legg Mason completed a debt refinancing that resulted in a $107.1m pre-tax charge. Adjusted income for Q3 fiscal was $113.1m compared to $40.6m in the previous quarter and $124.6m in Q3 fiscal. For the current quarter, operating revenues were $719.0m, up 2% from $703.9m in the prior quarter, and were relatively flat compared to $720.1m in Q3 fiscal. Operating expenses were $599.6m, up 5% from $573.5m in the prior quarter, and were relatively flat compared to $598.4min Q3 of fiscal 2014. Assets under management were $709.1bn as the end of December, up 4% from $679.5bn as of December 31, 2013. The Legg Mason board of directors says it has approved a new share repurchase authorisation for up to $1bn of common stock and declared a quarterly cash dividend on its common stock in the amount of $0.16 per share. - The EUR faces a couple of major releases today, says Clear Treasury LLP, and while the single currency has traded higher through the week, the prospect of €60bn per month in QE will likely keep the euro at a low ebb. The bigger picture hasn’t changed, yesterday’s run of German data was worse than expected with year on year inflation declining to -.5% (EU harmonised level). Despite the weak reading the EUR was unperturbed - The Singapore Exchange (SGX) is providing more information to companies and investors in a new comprehensive disclosure guide. Companies wanting clarity on specific principles and guidelines on corporate governance can look to the guide, which has been laid out in a question-and-answer format. SGX said listed companies are encouraged to include the new disclosure guide in their annual reports and comply with the 2012 Code of Corporate Governance, and will have to explain any deviations in their reporting collateral. - Cordea Savills on behalf of its European Commercial Fund has sold Camomile Court, 23 Camomile Street, London for £47.97mto a French pension fund, which has entrusted a real estate mandate to AXA Real Estate. The European Commercial Fund completed its initial investment phase in 2014 at total investment volume of more than €750m invested in 20 properties. Active Asset Management in order to secure a stable distribution of circa 5% a year. which has been achieved since inception of the fund is the main focus of the Fund Management now. Gerhard Lehner, head of portfolio management, Germany, at Cordea Savills says “With the sale of this property the fund is realising a value gain of more than 40%. This is the fruit of active Asset Management but does also anticipate future rental growth perspectives. For the reinvestment of the returned equity we have already identified suitable core office properties.” Meantime, Kiran Patel, chief investment officer at Cordea Savills adds: “The sale of Camomile Court adds to the £370m portfolio disposal early in the year. Together with a number of other asset sales, our total UK transaction activity since January stands at £450m. At this stage of the cycle, we believe there is merit in banking performance and taking advantage of some of the strong demand for assets in the market.” - US bourses closed higher last night thanks to much stronger Jobless Claims data (14yr low) which outweighed mixed earnings results. Overnight, Asian bourses taken positive lead from US, even as Bank of Japan data shows that inflation is still falling, consumption in shrinking and manufacturing output is just under expectations. According to Michael van Dulken at Accendo Markets, “Japan’s Nikkei [has been] helped by existing stimulus and weaker JPY. In Australia, the ASX higher as the AUD weakened following producer price inflation adding to expectations of an interest rate cut by the RBA, following other central banks recently reacting to low inflation. Chinese shares down again ahead of a manufacturing report.” - Natixis has just announced the closing of the debt financing for Seabras-1, a new subsea fiber optic cable system between the commercial and financial centers of Brazil and the United States. The global amount of debt at approximately $270m was provided on a fully-underwritten basis by Natixis -

Fidessa extends Intelligence suite in Europe

Monday, 23 April 2012
Fidessa extends Intelligence suite in Europe Fidessa group plc has launched a number of new services under its Fidessa Intelligence initiative. These include real-time, pre-trade and post-trade analytics services that enable brokers to grow revenues, provide better client service and manage their costs more effectively. http://www.ftseglobalmarkets.com/

Fidessa group plc has launched a number of new services under its Fidessa Intelligence initiative. These include real-time, pre-trade and post-trade analytics services that enable brokers to grow revenues, provide better client service and manage their costs more effectively.

Fidessa Intelligence is a strategic initiative that reflects the challenges of the structural shift in the operating environment for the industry as a whole and especially for sell-side firms, regardless of size. Increased market complexity, unrelenting regulatory change and demands for greater transparency are coming at a time when competitive pressures have never been more intense.

Fidessa's new Intelligence services are designed to work together and connect with other initiatives, including Fidessa's fragmentation and other analysis tools embedded in its buy-side products. It is vital that these firms understand the dynamics of their business and differentiate their services, according to Fidessa. Steve Grob, director of group strategy at the firm says: "Ultimately, our aim is to provide a complete set of interactive buy- and sell-side information services and so empower a truly intelligent Fidessa trading community."



Fidessa Intelligence enables them to identify new opportunities, fine-tune execution activity in real time and independently measure and benchmark their overall trading performance, claimss the firm's official release.

Fidessa has coopted some of its client to outline the advantages of working with its Intelligence services suite. According to John Truscott, head of operations at Liberum, added: "Fidessa's new analysis tools enable us to look at all facets of the execution process and determine where alpha can be preserved. We can quickly identify underperforming orders and adjust to market conditions in real time, as well as monitoring execution strategies and even volumes. As a result, we're able to provide a better, more efficient service for our customers."

Following beta trials, the modules now available in Europe include: Fidessa Trader Intelligence  (opportunity identification); Fidessa Real-time Intelligence (execution consulting) and Fidessa Post-trade Intelligence (trading performance and cost analysis). Fidessa Trader Intelligence is now available in Europe and helps brokers capture, filter and organise a broad range of relevant and actionable data from multiple sources. Traders can better understand their clients' trading styles, patterns and interests, as well as uncover new trading opportunities.

Since the introduction of MiFID, Europe's brokers have struggled to meet their Best Execution obligations in an ever-changing marketplace. Fidessa Real-Time Intelligence, claims Fidessa, helps turn this burden into competitive edge by providing a real-time execution consulting and benchmarking capability. Underperforming orders can be instantly identified and trading strategies adjusted to reflect the dynamic nature of liquidity in today's markets, says the firm.

Fidessa Post-Trade Intelligence provides analysis of execution quality, especially for those firms that have outsourced the execution function to third party brokers. These reports allow them to demonstrate to themselves, their clients and the regulators the effectiveness of their overall execution services. In addition, Fidessa Post-Trade Intelligence helps sell-side firms understand the contribution individual clients and/or trading desks make to overall profitability. Robin Browning, COO at Investec Securities, explains that: "We used to have to calculate the loss ratio manually for each client which meant ploughing through vast amounts of data. Now I have all the information I need in a single report. The post-trade reports provide details of which trades had higher implicit costs so that we're able to identify where we need to adjust the way we trade in the future. This ensures better overall execution services for our clients."

 

 

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