Updates from December, 2015 Toggle Comment Threads | Keyboard Shortcuts

  • Jennifer J 11:40 on December 29, 2015 Permalink | Reply  

    TradingScreen Shortlisted For Three CTA US Services Awards 

    The annual CTA US Services Awards 2016, has short listed TradingScreen with the following; 

    CTA Intelligence us performance awards

    TradingScreen is elated to be recognized for its accomplishments. Thank you to our customers and partners for their continued support and patronage.

    If you would like to read more about the awards, please click here.

     
  • Jennifer J 11:54 on December 28, 2015 Permalink | Reply
    Tags: , , , , , ,   

    TradingScreen's Morning Roundup 

    KEY REGULATORY DEVELOPMENTS:

    TECHNOLOGY:

    THOUGHT LEADERSHIP:

     
  • Jennifer J 11:19 on December 18, 2015 Permalink | Reply  

    Hedgefund News Wrap: Week Ending 12/18/2015 

    HIKE IT UP , SAID THE FED

    (CNN MONEY) – For the first time since 2006, and what seems like years of deliberating, the Federal Reserve has announced that it will raise interest rates by 25 basis points. In layman’s terms, it is increasing the target for short team interest rates to a range of 0.25% to 0.50%, from the previous range of 0% to 0.25%.

    There’s no need to panic, as rates will be raised slowly. Also, if you’ve been putting your extra pennies in your piggy bank, it will finally start to get fatter as it will start to earn interested over the next couple years as rates start climbing higher.

    This is not the best news for home buyers, as mortgage rates will start to raise. This comes at a time when millennials are known for renting later in their life than their parents, and this hike will most likely add to that.

    As with most things, time will tell… Janet Yellen, we’re lookin’ at you.

    Read the entire article at CNN Money
    More coverage: CNBC and Forbes

     

    “ESSENTIALLY… A PONZI SCHEME”  

    (Bloomberg Business) – Martin Shkreli, a name that makes Wall Street cringe, has been arrested on securities fraud charges and people are celebrating. The infamous 32-year-old rose to “fame” recently by jacking up the price of a lifesaving pill from $13.50 to $750 and was even dubbed “America’s Most Hated Man.”

    The money-hungry entrepreneur and Turing Pharmaceuticals CEO was charged by federal prosecutors for allegedly plundering Retrophin, a bio-pharmaceutical company he used to run, for personal gain. According to court documents, Retrophin filed a lawsuit against Shkreli in August stating that he used the company to “enrich himself” and pay off claims to other investors. When it comes down to it, the company is seeking $65 million in damages from the former manager.

    Read the entire article at Bloomberg Business
    More coverage: ABC News and The New York Times

    HIV DRUGS FOR SALE – GOING, GOING, GONE – SOLD TO GLAXO

    (Bloomberg Business) – GlaxoSmithKline Plc agreed to purchase Bristol-Myers Squibb Co.’s portfolio of experimental HIV treatments for as much as $1.46B. 

    In the form of two transactions, Glaxo’s ViiV Healthcare unit will pay $317M in cash upfront for two drugs in late-stage development and another $33M for assets that in the preclinical or discovery phases of research.  In addition, another $587M in contingent milestone payments.

    Read the entire article at Bloomberg Business
    More coverage: The Wall Street Journal and MarketWatch

     

     
  • Jennifer J 10:20 on December 17, 2015 Permalink | Reply  

    A Toast To You… 

    Holiday Card

     
  • Jennifer J 11:57 on December 14, 2015 Permalink | Reply
    Tags: , , , , , , ,   

    TradingScreen's Morning Roundup 

    KEY REGULATORY DEVELOPMENTS:

    LITIGATION:

    TECHNOLOGY:

    THOUGHT LEADERSHIP:

     
  • Jennifer J 15:12 on December 11, 2015 Permalink | Reply
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    Hedgefund News Wrap: Week Ending 12/11/2015 

    LET’S TALK ABOUT STEVE WYNN

    (CNN Money) – A CEO has come up with an interesting way to save his company from the red and being one of the worst-performing stocks of the year. Founder and CEO of Wynn Resorts, Steve Wynn, purchased more than 1 million shares of Wynn Resorts between December 4 and 8.

    Following suite, the stock surged more than 15% in early trading Wednesday and investors became excited again. Although at $72 today, far from it’s March 2014 high of $246.65, it’s common practice that when a CEO buys a large piece of the pie, it’s a good sign. Wynn now owns more than 11  million shares of the company, wearing the crown of the firm’s largest individual shareholder and third-biggest overall.

    With Chinese gambling rules taking a disastrous toll on one of Wynn’s properties, it will be interesting to see if his investment pays off.

    Read the entire article at CNN Money
    More coverage: Business Insider and The Motley Fool

    A CASUAL $130 BILLION

    (USA TODAY) – The chemical giants DuPont and Dow Chemical Co. have agree to merge in an all-stock deal valued at $130 billion, including future plans to split into three. Get ready for DowDuPont to be a household name.

    The new chemical and agricultural giant is one of top 20 largest mergers ever, speculating that there may be some regulation difficulties. “Any merger that consolidates this market into fewer hands will give farmers fewer choices and put them at even more economic disadvantage,” said Wenonah Hauter, executive director of the advocacy group Food & Water Watch, in a statement. “The Department of Justice needs to block this merger to prevent the further corporate control of the basic building blocks of the food supply.”

    But on the bright side, the companies have identified $3 billion in annual cost savings, equaling $30 billion in market value. DowDuPont will be split in about 18-24 months time via tax-free spin-offs, becoming three independent companies; agriculture, materials and specialty products.

    Read the entire article at USA TODAY
    More coverage: CNBC and The Washington Post

     

    DON’T BET ON BETTING IN NY

    (Fortune) – DraftKings and FanDuel are in a very, very large pickle. If you’re in the state of New York and are planning on betting on either DraftKinds or FanDuel, you are officially SOL for the duration of the case regarding the two companies.

    After going back and forth for sometime now, a judge put his mallet down and has sided with Schneiderman’s efforts in shutting down their games for New York players. Both companies have stated they plan to file emergency appeals seeking to block the order from taking effect, but let’s see how it shakes out.

    All I have to say is, “let the boys play!”

    Read the entire article at Fortune
    More coverage: CNN Money and Business Insider

     
  • Jennifer J 10:45 on December 10, 2015 Permalink | Reply  

    TradingScreen Powers SGX’s Bond Trading Platform 

    SGX partners with TradingScreen to deploy SGX Bond Pro, the first OTC trading venue dedicated to Asian Bonds.

    SINGAPORE and NEW YORK, Dec. 10, 2015 – Singapore Exchange (SGX) today announced the successful launch of SGX Bond Pro, the first OTC trading venue dedicated to Asian Bonds, which is powered by TradingScreen’s Galaxy global fixed income platform infrastructure.

    TradingScreen, the leading independent provider of liquidity, trading, and investment technology via SaaS, was selected as SGX Bond Pro’s technology platform provider in 2014, and provides infrastructure available in SaaS or as an implemented application.

    SGX Bond Pro connects buyers and sellers of Asian bonds and provides them with multiple trading protocols that cater to their liquidity needs. The trading protocols were developed in consultation with the industry to facilitate how participants, including accredited investors such as global asset managers, private and investment banks, want to access liquidity.

    SGX Bond Pro has additional functionality designed to achieve greater efficiencies in trading and settlement. With sophisticated tools to access liquidity through quote-driven and order-driven trading protocols including auctions, crossing, RFQ and RFS, the platform adapts uniquely to the new liquidity reality of the fixed income market.  It also adapts to the particular characteristics of Asian bond market, which is the largest growth market for fixed income securities.

    All market participants have the choice to access the new venue through multiple interfaces from a high level, fast FIX API, a state-of-the-art, intuitive award winning HTML5 user interface.

    Muthukrishnan Ramaswami, the President of SGX, said, “SGX Bond Pro is indicative of our strategy to innovate and build infrastructure where there is a clear market demand.  It also demonstrates our ability to develop solutions that address the liquidity challenge in the Asian bond market.  We continue to receive positive feedback from the market and we hope that a strong community will anchor itself around this innovative platform. The partnership with TradingScreen has offered SGX the opportunity to offer a world class trading venue in record time.”

    Philippe Buhannic, CEO of TradingScreen, says, “This launch is the start of a revolution in fixed income trading in Asia and represents a significant milestone in the fixed income market, as well as, a technology breakthrough. The single trading model that the market has been using over the past decade has proved limited in handling the demands of the buy-side. In the future, liquidity management will become central to the market evolution and SGX Bond Pro has been launched as a significant liquidity solution.  We are confident that both the buy and sell-side will be quick to recognize its unique value.”

    TradingScreen has earned numerous awards for its innovation on this project and is delighted to have again brought its unique and extensive expertise in global multi-asset trading to the Asian fixed income market.

    If you have any questions, please fill out the form attached and a representative from TradingScreen will reach out to you in a timely manner. Link – https://tradingscreen.wufoo.com/forms/sgx-bond-pro-information/ 
     
  • Jennifer J 11:36 on December 7, 2015 Permalink | Reply  

    TradingScreen's Morning Roundup 

    KEY REGULATORY DEVELOPMENTS:

    LITIGATION:

    TECHNOLOGY:

    THOUGHT LEADERSHIP:

     
  • Jennifer J 11:47 on December 4, 2015 Permalink | Reply  

    Hedgefund News Wrap: Week Ending 12/04/2015 

    BLUECREST IS NOW BLUE IN THE FACE

    (The New York Times) – BlueCrest Capital Management, the $8 billion fund run by Michael Platt, was once one of Europe’s largest hedge funds. But now it will return all client money and Platt will turn his attention to managing his own wealth and that of his partners and employees.

    The firm has stated that outside investors, who account for about $7 billion of the firm’s assets, will get 75 percent of their money before the end of January and 90 percent by the end of the first quarter. Some may ask, why the sudden change? According to the firm, who will now become a private investment partnership, declining fees and rising costs are the main reason for the move.

    bluecrest

    “We like this new structure for us a lot more than the one we are leaving behind,” said Platt in an interview. “The investor base has become increasingly institutional and they want lower levels of risk and lower levels of fees.”

    The firm peaked in 2012 when it oversaw around $36 billion, but now the risk-taking that was done in its early age is now increasingly limited by institutional investors’ demands for safer products. BlueCrest will now be part of the club of hedge funds that have decided to stop handling outside clients’ money.

    Read the entire article at The New York Times
    More coverage: The Wall Street Journal and Bloomberg

    AVON GOING ONCE, GOING TWICE, (POSSIBLY) SOLD

    (Fortune) – Avon Products, AVP, is in “advanced talks” to sell its long ailing North American business to a private equity firm in an effort to turn around sales numbers.

    Cerberus Capital Management LP, a firm known for investing in distressed companies, would then become Avon’s largest shareholder and might get board seats, according to disclosed sources.

    But not everyone is happy about the deal, in fact there is an activist investor group, led by Barington Capital, who is attempting to block the deal. Even though the iconic “Avon Ladies” are now bringing in half the amount of sales they did with the all-time high posted in 2007, the group is gung-ho with Avon remaining i-n-d-e-p-e-n-d-e-n-t and strong on its own.

    Over the years competition from cosmetic-giants like Sephora and Ulta have taken over the the beauty regimen of women every where, but time will tell if Avon can be an “oldie, but a goodie.”

    Read the entire article at Fortune
    More coverage: The Wall Street Journal and The New York Times

     

     
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