Thursday 27th November 2014
NEWS TICKER, THURSDAY NOVEMBER 27TH 2014: According to local press reports, the chief of the UAE stock market regulator wants more industrial companies to list their shares on exchanges dominated by property and investment firms. Abdulla Al Turifi, chief executive of the UAE Securities and Commodities Authority (SCA), says the regulator is reviewing applications for initial public offerings of up to four companies to list on the UAE bourses and another three applications for a new secondary market for companies that currently trade only OTC. The UAE is seeking to broaden its industrial base and reduce its reliance on hydrocarbons, but the country’s two main stock exchanges are dominated by property and financial listings. Recent IPOs have come from retail, a sector also previously unrepresented on the exchanges. In February this year, the SCA and the Ministry of Economy issued a law requiring private joint stock companies to list their shares on a second market, in the hope that it would encourage firms to eventually move onto the main board- Moody's has placed the B3 corporate family rating, B3-PD probability of default rating and B1 rating on the senior secured facilities of Reynolds Group Holdings Limited under review for downgrade. The review follows RGHL's announcement that it had entered into a definitive agreement to sell its SIG Combibloc business to Onex Corporation for up to €3.75bn. The transaction is expected to close in the first quarter of 2015, pending final regulatory approvals and the satisfaction of other customary closing conditions - Morocco’s House of Representatives yesterday approved a new law authorising the establishment of Islamic banks and private companies to issue Islamic bonds. Since the Islamist-led government took office in 2011, it has been attempting to develop Islamic finance in the country. The bill was passed unanimously - According to Iran’s Fars News Agency (FNA) Iran’s non-oil exports have grown by 28% since the end of March. Iran’s non-oil exports have surged by 28% since the Persian new year (March 21), Fars News Non-oil export revenues, minus gas condensates, were approximately $18bn this year. Roughly $5bn from the non-oil exports revenues were from tourism (up 32%), though the bulk comes from engineering, workforce and transit services. Some 93% of the country’s non-oil export revenue comes from Asian countries. Imports since the end of March have risen 32% to $21.695bn -IXICO the brain health company, today announces that the contracts for two separate clinical trials in Huntington’s disease with two pharmaceutical companies have been extended. As a consequence, IXICO anticipates the revenue from these two contracts to be significantly enhanced to a potential £2.5m over approximately three years – Any announcement around the sale of Japan Post Holding’s projected IPO now looks to be postponed until January, according to the company’s president Taizo Nishimuro, at a news conference earlier today. In October, the government selected Nomura Securities and ten other underwriters for the initial public offering. The IPO is the first leg of the government's plan to sell up to two-thirds of Japan Post's shares. The government is hoping to raise more than $20bn from the sale - The US Commodity Futures Trading Commission (CFTC) filed notice to revoke the registrations of Altamont Global Partners LLC (Altamont), a commodity pool operator of Longwood, Florida, and John G. Wilkins a principal, managing member and approximate one-third owner of Altamont. The notice alleges that Altamont and Wilkins are subject to statutory disqualification from CFTC registration based on an order for entry of default judgment and an amended Order of permanent injunction. The orders include findings that Altamont and Wilkins misappropriated commodity pool funds and issued false quarterly statements to pool participants. The notice alleges that Wilkins is subject to statutory disqualification from CFTC registration based on his conviction for conspiracy to commit mail fraud and wire fraud. A US District Court has sentenced Wilkins to 108 months in federal prison - The Straits Times Index (STI) ended +0.94 points higher or +0.03% to 3345.93, taking the year-to-date performance to +5.72%. The FTSE ST Mid Cap Index gained +0.08% while the FTSE ST Small Cap Index gained +0.08%. The top active stocks were SingTel (+0.26%), Global Logistic (+1.52%), DBS (-0.40%), OCBC Bank (+1.26%) and UOB (-0.42%).The outperforming sectors today were represented by the FTSE ST Consumer Services Index (+0.40%). The two biggest stocks of the FTSE ST Consumer Services Index are Jardine Cycle & Carriage (+0.29%) and Genting Singapore (+0.44%). The underperforming sector was the FTSE ST Utilities Index, which declined -0.97% with United Envirotech’s share price declining -0.61% and Hyflux’s share price gaining +1.09%. The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India (+0.78%), SPDR Gold Shares (-0.22%), United SSE 50 China ETF (+2.33%). The three most active Real Estate Investment Trusts (REITs) by value were Suntec REIT (+0.26%), Ascendas REIT (+0.87%), CapitaMall Trust (+0.51%). The most active index warrants by value were HSI23800MBeCW141230 (+20.35%), HSI24400MBeCW141230 (+18.67%), HSI23600MBePW141230 (-20.00%) and the most active stock warrants by value today were OCBC Bk MBeCW150413 (+6.38%), KepCorp MBePW150330 (-5.88%), UOB MB eCW150415 (unchanged) - Sentiment in the Italian consumer sector has taken another step backwards according to the latest figures this month. The Italian Consumer Confidence indicator has now fallen for a seventh straight month to produce a November reading of just 100.8, from a peak above 106.0 this sentiment metric reached 101.3 last month, market expectations for today’s reading were for a slight rise to 101.6. The Organisation for Economic Co-operation and Development (OECD) yesterday published a less than optimistic report for the near term growth prospects of the Italian economy. The previous OECD report projected growth for Italy of 0.5% over the full 2014 year but this has now been revised downwards by almost a full point to forecast a 2014 contraction of -0.4%.

Portware to acquire Aritas technology

Wednesday, 09 May 2012
Portware to acquire Aritas technology The broker-neutral, multi-asset trading solutions, Portare has announced that it has reached a definitive agreement to acquire the technology and analytical assets of Aritas Group, Inc. The terms of the deal were not disclosed. http://www.ftseglobalmarkets.com/

The broker-neutral, multi-asset trading solutions, Portare has announced that it has reached a definitive agreement to acquire the technology and analytical assets of Aritas Group, Inc. The terms of the deal were not disclosed.

 

Aritas, formerly known as Pipeline, offers a suite of predictive analytics and trade optimisation solutions designed to maximise alpha and minimise trading costs for institutional investors. Its Alpha Pro technology solution uses proprietary quantitative analysis of historical and real-time order flow, recommends a trading strategy most likely to enhance performance over the life of the order, and makes execution decisions based on the trader’s preference. Aritas’ Algorithm Switching Engine allows traders to execute the trading strategies from Alpha Pro by switching between an extensive suite of algorithms to maximize liquidity access, minimize information leakage and enhance trade execution quality.



 

According to Alfred Eskandar, “Aritas’ technology assets are highly complementary and add advanced artificial intelligence and commission optimization tools to Portware’s core offerings.”  He believes that the acquisition will provide a “natural extension of our broker-neutral trading solutions, and allows us to partner with the entire broker community to maximize the benefit of these advanced analytics.”

Eskandar continued, “Our goal is to empower traders to analyze, communicate and execute their investment ideas in an automated way. This acquisition allows us to offer any firm, regardless of size, an extraordinary level of automation and choice in their trading workflows. Clients can direct order flow to multiple brokers, improve execution quality, and reduce trading costs while delivering consistent results across multiple strategies.”

“We’re excited to join forces with Portware to unlock the value we have created in our technology assets,” said Jay Biancamano, Aritas’ Executive Chairman. “Only an open, broker-neutral provider of trading solutions can fully deliver this value to our customers, and Portware is the global leader, with a proven ability to deliver technology-driven value.”

Until January of this year Aritas was known as Pipeline. The name was changed in January this year as the company struggled to deal with the fallout from an SEC fine into its management of its dark pool. On October 24th 2011 the SEC fined Pipeline $1 million penalty to settle charges that the broker failed to disclose to clients that up to 80% of orders sent to the firm's dark pool were filled by a wholly owned trading affiliate.

It is perhaps therefore not surprising that the acquisition does not include the Aritas broker/dealer or the Aritas Block Market. These assets will remain with Aritas Group, Inc.

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