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News & Commentary
Content tagged with Asset Management posted in November 2012
Proliferation of CSAs Causes Headaches for Brokers, Buy Side — Greenwich, Frost
News  |  11/30/2012  | 
An estimated 82 percent of U.S. asset managers surveyed by Greenwich Assoc. use CSAs for efficiency and transparency, but the trend is leading to a reduction in execution payments to smaller broker dealers and administrative headaches to buy side.
Investors Swarm into Stock ETFs Amid "Fiscal Cliff" Hopes—Lipper
News  |  11/30/2012  | 
Investors in U.S.-based funds have pumped the most new money into stock exchange-traded funds since mid-September, while adding to bond funds amid growing optimism U.S. lawmakers will avoid the looming "fiscal cliff" of tax hikes and spending cuts. Data from Thomson Reuters' Lipper service showed on Thursday that Stock ETFs raked in $7.66 billion in new investor cash in the week ended Nov. 28, the most money since the week the U.S. Federal Reserve announced its extended stimulus plan.
Soft Dollars May Put Buy Side At Odds With Investors: Report
News  |  11/29/2012  | 
The use of soft dollars may prevent investors from getting the full benefit of everything they're paying for, according to Woodbine Associates.
A Toast to Mary and 10 Suggestions for the New SEC Commissioner
Commentary  |  11/29/2012  | 
Mary Schapiro's efforts to clean up our marketplace are her legacy.
New ITG Algo Takes Aim at Customization, Liquidity Sourcing
News  |  11/28/2012  | 
The broker says its latest algorithm will help the buy side take a more strategic approach to sourcing liquidity.
Fidessa Teams With Thomson Reuters on Buy-Side Liquidity Sourcing
News  |  11/26/2012  | 
The firm says the Autex platform opens up access to sources of block liquidity, helping the buy side navigate a highly fragmented marketplace.
FINRA Threatens to Suspend Morgan Keegan in ex-NBA Star Flap
News  |  11/21/2012  | 
Wall Street's industry-funded watchdog, FINRA, has notified Morgan Keegan & Co. that it will suspend the brokerage's license for not complying with an arbitration ruling in favor of retired basketball star Horace Grant unless the firm meets certain conditions, according to a letter reviewed by Reuters.

Nasdaq CEO Calls on Washington to Compromise
News  |  11/20/2012  | 
Washington needs to rediscover its ability to compromise and commit to a long-term plan to reduce the nation's debt, the head of Nasdaq said.
SEC Expands Probe Into Whether Exchanges Favor HFT
News  |  11/20/2012  | 
The heightened regulatory scrutiny comes on the heels of a series of major technical glitches at capital markets firms that have damaged investor confidence.
Morgan Keegan And Ex-NBA Star in Dispute Over Interest
News  |  11/20/2012  | 
Morgan Keegan & Co is disputing the amount of interest owed to retired NBA basketball player Horace Grant on a $1.46 million arbitration award and has refused to pay $333,000 in interest that Grant says he is owed.

Mini-Flash Crashes Continue To Fly Under The Radar
News  |  11/19/2012  | 
For no particular reason, events known as mini-flash crashes routinely happen in equities, as fat finger errors and faulty algos interact with HFT firms in the electronic market infrastructure.
JPMorgan, Credit Suisse Settle with SEC for $417 Million
News  |  11/19/2012  | 
JPMorgan Chase and Credit Suisse will pay a combined $416.9 million to settle civil charges that they misled investors in the sale of risky mortgage bonds prior to the 2008 financial crisis.
Global Shadow Banking Hits $67 Trillion
News  |  11/19/2012  | 
The "shadow banking" system, blamed by some for aggravating the global financial crisis, grew to a new high of $67 trillion globally last year.
Obama Presses Case on 'Fiscal Cliff' with Dimon, Buffett
News  |  11/19/2012  | 
President Barack Obama's intensive lobbying to avert big year-end tax hikes and spending cuts resumed over the weekend as he spoke with senior corporate chieftains, including JPMorgan Chase's Jamie Dimon and legendary investor Warren Buffett.
Citi Traders Join Wall Street Masses With Pink Slips
News  |  11/19/2012  | 
Another round of cuts is underway on Wall Street. Meanwhile, here is some advice for those who will be looking for new jobs in 2013.
Protecting Your Trading Desk From the Next Tech-Driven Crash
News  |  11/16/2012  | 
After several technology incidents and mini-flash crashes pointing out the risks inherent in computerized trading, institutional traders and sell side desks are examining how they can protect their orders from getting caught up in the next debacle.
MF Global Report: Regulators Need Better Grip on Finance
News  |  11/16/2012  | 
Poor supervision contributed to the downfall of futures brokerage MF Global, House Republicans said in a report.
U.S House Committee Blames Everyone For MF Global's Collapse
News  |  11/15/2012  | 
Regulators, credit rating agencies and MF Global itself were all to blame for the brokerage's collapse last year, a U.S. congressional committee found.

DTCC Finds 1.3 Mln Soaked Securities in Sandy-Flooded NY Vault
News  |  11/15/2012  | 
The Depository Trust & Clearing Corp., which processes financial transactions and stores securities, has begun the long process of recovering about 1.3 million soaked securities that were stored in a 10,000-square-foot underground vault in a lower Manhattan skyscraper flooded by Superstorm Sandy.

Lightspeed Muscles In On Options Market With New Platform
News  |  11/14/2012  | 
As so many traders struggle to make money in the current equities landscape, Lightspeed makes a play for the options market with its latest trading platform.
Global Fund Industry Rebounds, Total Assets Now $120 Trln
News  |  11/13/2012  | 
The fund management industry has rebounded from the global financial crisis and conventional assets under management are now 13 percent above pre-crisis levels, a report said on Tuesday.

Microsoft's Windows Unit Head, Once a Possible CEO, Exits
News  |  11/13/2012  | 
The executive most widely tipped to be the next chief executive of Microsoft Corp has left the world's largest software maker barely two weeks after launching the flagship Windows 8, as CEO Steve Ballmer moved to tighten his grip on the company.

Investor Behavior Is At Odds with Goals, Says State Street Think Tank
News  |  11/12/2012  | 
Only one third of investors believe their primary investment provider is acting in their best interest, according to a study by State Street's Center for Applied Research.
Jefferies, Valued at $3.6 Billion, To Be Bought by Leucadia
News  |  11/12/2012  | 
Investment company Leucadia will buy Jefferies Group in a deal that values the investment bank at $3.6 billion.
BlackBerry Will Finally Announce Its ComeBack ... in January
News  |  11/12/2012  | 
BlackBerry 10 has some cool new features. But will Wall Street execs leave their iPhones for the BlackBerry?
Regulators: Capital Rules Won't Take Effect Jan. 1
News  |  11/9/2012  | 
Banking regulators do not expect proposed rules requiring financial institutions to hold more capital to take effect at the start of next year.
Most Hedge Funds Lost Ground in October
News  |  11/8/2012  | 
Hedge funds fell 0.5 percent on average in October, the industry's first loss in five months.
PSP Capital Partners Pritzker Sees 'Fiscal Cliff' Deal Taking Time
News  |  11/8/2012  | 
Penny Pritzker, head of PSP Capital Partners and longtime supporter of President Barack Obama, said an agreement with Republicans over the looming federal debt crisis could take six to nine months.
Wall Street Left To Rebuild Obama Ties After Backing Romney
News  |  11/7/2012  | 
Wall Street firms gambled on Mitt Romney and lost.

For Global Investors, Fed Relief Trumps Fiscal Angst After U.S Poll
News  |  11/7/2012  | 
The world's biggest investors expect a modest fillip for global bonds and stocks from the re-election of President Barack Obama, as anxiety eases over White House policy toward the Federal Reserve and China.

Wall Street Left to Rebuild Obama Ties After Backing Romney
News  |  11/7/2012  | 
Wall Street firms gambled on Mitt Romney and lost.

2012: Year of the Busted Broker and Buy Side Trader
Commentary  |  11/6/2012  | 
It was a bad year for brokers and the buy side but it was a wonderful time to be a cold-eyed observer.
HSBC Fears U.S Money Laundering Fines to Top $1.5 Bln
News  |  11/5/2012  | 
A U.S. fine for anti-money laundering rule breaches could cost HSBC significantly more than $1.5 billion and is likely to lead to criminal charges, Europe's biggest bank said on Monday.

UBS Shakes Up Investment Bank Management
News  |  11/5/2012  | 
The new head of UBS's investment bank has stamped his mark on the division with a management reshuffle, days after the Swiss bank said it was pulling back from fixed income trading and cutting 10,000 jobs.

Morgan Stanley Makes Kelleher Sole Institutional Banking Head
News  |  11/5/2012  | 
Morgan Stanley has revamped its institutional securities business, announcing on Monday that Paul Taubman will retire as co-head of the trading and banking unit while co-head Colm Kelleher will remain as president.

Capital Markets Outlook 2013: Mobile in a Millennial World
News  |  11/5/2012  | 
Financial firms must develop cutting-edge mobile apps that will attract ultra-demanding Millennials and institutional clients who want to seamlessly track their portfolios, research stocks and trade on the go.
How Presidential Election Results Will Impact Wall Street Compensation
News  |  11/5/2012  | 
An eFinancialCareers survey of over 900 financial professionals showed that the vast majority expect the Nov 6 election to have a big impact on executive compensation.
Bond-Heavy Overseas Funds Want Obama Win
News  |  11/5/2012  | 
Overseas investors, many of whom are creditors to the highly-indebted U.S. government, reckon a re-election of President Barack Obama would be best for world markets even if U.S. counterparts say otherwise.

Apple Rolls out iPad Mini to Shorter Lines
News  |  11/2/2012  | 
The launch of Apple Inc's iPad mini attracted smaller crowds from Sydney to New York on Friday than have been typical for previous Apple product debuts, events marked by people lining up for hours or even days.

Thomson Reuters Operating Profit Down, Trading Pressured
News  |  11/2/2012  | 
Thomson Reuters Corp reported on Friday a 15 percent fall in operating profit because of declining revenue and higher costs at its division that serves the financial industry.

Sandy's Hit Is Hard To Gauge For Economists
News  |  11/1/2012  | 
Massive storm Sandy could slow growth in the already weak U.S. economy to as little as 1 percent in the fourth quarter.

ITG's POSIT Match Takes Aim at Fragmentation, Liquidity
News  |  11/1/2012  | 
The firm says its latest offering looks to solve the problem of temporal fragmentation and expensive liquidity at an important time in the trading day.
Money Manager Invesco's Quarterly Profit Climbs
News  |  11/1/2012  | 
Money manager Invesco Ltd said its third-quarter profit rose 2 percent as customers added almost $12 billion to the firm's funds.

Capital Markets Outlook 2013: Upheaval in Fixed Income
News  |  11/1/2012  | 
Electronic trading is gaining traction in fixed income as capital-constrained dealers and new rivals seek ways to offer liquidity to the buy side.

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