Wednesday 29th July 2015
NEWS TICKER, Tuesday July 28th: The Spanish Mercado Alternativo Bursátil (MAB) has admitted INCLAM to list on the market’s growth company segment. The company will trade from July 29th this year. Its trading code will be INC and trading will be through a price setting mechanism which will match buy and sell orders by means of two daily auction periods or “fixings”, at 12 hrs and at 16 hrs. Stratelis Advisors is acting as registered adviser and MG Valores SV as liquidity provider. - Moody's: Al Khalij Commercial Bank (al khaliji) Q.S.C.'s asset quality and capital strengths moderated by high reliance on market funding. Al Khalij Commercial Bank (al khaliji) Q.S.C. (AKB) benefits from a solid overall financial profile which is moderated by high reliance on market funding and concentration risks, says Moody's Investors Service in the report "Al Khalij Commercial Bank (al khaliji) Q.S.C: asset quality and capital strengths are moderated by high reliance on market funding" - While German SME’s continue to be plagued by recruiting problems, according to a new KfW survey fewer are bothered about filling employment vacancies than they were back in 2010. More women and older people in the working population, increasing labour mobility and the rise in skilled labour from other EU countries is helping filling the employment gap. Even so, the survey suggests that over the longer term, skilled labour shortages could be the order of the day – In a filing with the Luxembourg Stock Exchange Bank Nederlandse Gemeenten has given notice of amended final terms to the holders of TRY77.5m notes at 10.01% due June 17th 2025 (ISIN Code: XS1247665836 and Series no. 1214) issued under the bank’s €80bn debt issuance programme. The amendment includes provision that the issuer may settlement any payment due in respect of the notes in a currency other than that specified on the due date subject to pre-agreed conditions. Deutsche Bank London is the issuing and paying agent, while Deutsche Bank Luxembourg is listing agent, paying agent and transfer agent. The Shanghai Composite Index ended down 8.5% at 3725.56, its second-straight day of losses and worst daily percentage fall since February 27th, 2007. China's main index is up 6% from its recent low on July 8, but still off 28% from its high in June. The smaller Shenzhen Composite fell 7% to 2160.09 and the small-cap ChiNext Closed 7.4%. Lower at 2683.45. The drop comes as investors wonder how long the government’s buying of blue chip stocks can last. Clearly, the government can’t be seen to be pouring good money after bad to prop up what looks to be a failed strategy of propping up the market. Disappointing corporate earnings data across the globe has affected Asia’s main indices in today’s trading. The Hang Seng Index fell 2.7%. Australia's S&PASX 200 was down 0.2%, the Nikkei Stock Average fell 1% and South Korea's Kospi was off 0.4%. Turnover also remains depressed on Chinese exchanges, with around RMB1.2trn the average volume traded, compared to more than RMB2trn before this current downturn – In other news from the Asia Pacific, New Zealand’s Financial Markets Authority (FMA) has issued a Stop Order against Green Gardens Finance Trust Limited (GGFT) and warns the public to be wary of doing business or depositing money with this company. The Stop Order prohibits GGFT from offering, issuing, accepting applications for or advertising debt securities and/or accepting further contributions, investments or deposits for debt securities – Meantime, in Australia, the Federal Court has found that Astra Resources PLC (Astra Resources) and its subsidiary, Astra Consolidated Nominees Pty Ltd (Astra Nominees), breached the fundraising provisions of the Corporations Act, as part of civil proceedings brought by ASIC. In his judgment, Justice White upheld ASIC's claims that Astra Resources and Astra Nominees breached the Corporations Act by raising funds from investors without a prospectus or similar disclosure document, as required under the law.

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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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