Updates from April, 2016 Toggle Comment Threads | Keyboard Shortcuts

  • TradingScreen 09:52 on April 25, 2016 Permalink | Reply  

    TradingScreen Wins WatersTechnology Best Sell-Side Technology Award 

    Tradingscreen has won the WatersTechnology Sell-Side Technology Award for Best Sell-Side OTC Trading Initiative.   WatersTechnology Sell-Side Technology Awards recognize the leading technologies, through an auditable and transparent methodology underpinned by the input and experience of judges.

    Victor Anderson, Editor-in-Chief, WatersTechnology said: “TradingScreen has demonstrated leadership through its Sell-Side OTC Trading Initiative, underpinned by the firm’s innovative technology and versatile trading platform, which currently powers one of the largest and most complex fixed-income markets in the world. TradingScreen’s technology provides a single trading platform that can manage liquidity and the various inherent demands of a highly fragmented market with ever-increasing regulatory requirements.”

    Philippe Buhannic, CEO of TradingScreen said: “We are proud to receive the recognition for our innovation in the development of Sell-Side OTC platform as these markets go through an intense redefinition and are moving from basic RFQ models to ‘Best Execution’ operating models. This combined with the dramatic shrinking of market making and liquidity creates a challenge for all players, especially for the Sell Side in their Market making and Intermediation OTC business. New solutions are key to solving the operational and liquidity issues and TradingScreen is actively engaged in working with top participants on this.”

    For more information…

     
  • Jennifer J 11:05 on April 11, 2016 Permalink | Reply  

    TradingScreen’s Morning Roundup 

    KEY REGULATORY DEVELOPMENTS:

    LITIGATION:

    TECHNOLOGY:

    THOUGHT LEADERSHIP:

     
  • Jennifer J 13:08 on April 8, 2016 Permalink | Reply  

    Hedgefund News Wrap: Week Ending 04/08/2016 

     

    PFIZER & ALLERGAN DEAL SPOILED

    (Fortune) – Just when the Pfizer and Allergan $160 billion merger received a green light, the U.S. government, specifically the President, took the deal to a screeching halt. As a result of a new U.S. Treasury rule aimed at such deals, titled “inversions,” Pfizer and Allergan walked away from the deal.

    U.S. drug-maker Pfizer Inc. (PFE.N) and Ireland-based Allergan Plc (AGN.N) broke up on Wednesday and walked away from the historic $160 billion proposed mega-merger that was in the works. The merger would have allowed Pfizer to cut its tax bill by an estimated $1 billion annually by domiciling in Ireland, where tax rates are lower. Pfizer will now have to pay Allergan $150 million to reimburse expenses from the no-go deal.

    Now, Allerigan has wasted little time in shacking up with someone else, as they have struck a $3.3 billion Alzheimer’s drug deal. Just hours after it’s break up with Pfizer, Allergan announced a significant licensing pact with the U.K.’s Heptares Therapeutics for its Alzheimer’s drug portfolio.

    Read the entire article at Fortune
    More coverage: New York Times and Rueters

    DONE DEAL, MARRIOTT AND STARWOOD MERGE

    (Business Insider) – After weeks and weeks of bidding, and Chinese insurance giant Anbang attempting to jump in and backing out, Marriott International and Starwood Hotels are officially the world’s largest hotel company.

    The deal includes Marriott buying Starwood and paying its shareholders 0.8 shares of Marriott plus $21.00 in cash. Starwood shareholders will own about 34 percent of the combined company’s common stock after completion.

    starwood and marriott

    Arne Sorenson, Marriott’s president and chief executive officer, said, “With today’s successful stockholder approval milestone, we are that much closer to completing our transaction. Our teams continue to plan the integration of our two companies, and we are committed to a timely and smooth transition.  We appreciate the stockholders’ vote of confidence in our ability to drive long-term value and opportunity as a combined company.”

    The merger will create one big happy hotel family with 30 brands and 1.1 million rooms with Starwood’s Westin, W Hotels and Aloft joining Marriott’s Renaissance, AC Hotels, The Ritz-Carlton and others.

    Read the entire article at Business Insider
    More coverage: USA TODAY

    $23 MILLION RAISED FOR AMY AND ANDREW

    (The Street) – Wait, who? Introducing Amy and Andrew, the artificially intelligent personal-assistance bots that do all of the time-sucking work for you. X.ai, the parents company of the bots, have just raised a round of venture funding totaling $23 million. X.ai plans to use the funds to beef up its data-science team and building out an enterprise product and eventually promote and sell it.

    The bots take care of tasks such as scheduling meetings over email, all one has to do is “cc” Amy, or her counterpart Andrew, on an email regarding a meeting and she takes over the task of coordinating schedules and setting the date.

    Of course, people are skeptical of using robots and what people may think of people who use them, but time will tell if people adapt.

    Read the entire article at The Street
    More coverage: CNN Money and Inc.com

     
  • Jennifer J 12:16 on April 1, 2016 Permalink | Reply  

    HedgeFund News Wrap: Week Ending 04/01/2016 

    OVER 134K RESERVATIONS FOR THE NEW TESLA

    (Bloomberg) – Tesla has released the Model 3 and the public is loving it. The reasonably priced $35,000 Tesla is by-far the cheapest car ever offered by the company and it already has over 135,000 reservations in under 24 hours.

    Debuted on Thursday, the 200-plus-miles of range has been said to be a platform for future vehicles, sits five passengers and is a very safe car. This is HUGE for the automobile world, as this brings electronic vehicles and autonomous driving to the masses at a very affordable price.

    The Model 3 is “the final step in the master plan, which is a mass market, affordable car,” Tesla’s chief executive, Elon Musk, said at the unveiling. “It was only possible to do after going through the prior steps.”

    With all of the reservations, Tesla is doing a happy-dance as just the reservations alone are more than total sales of all previous Tesla cars combined.

    Read the entire article at Bloomberg
    More coverage: Business Insider and New York Times

    A ROUND THREE KNOCKOUT FOR MARRIOTT

    (USA TODAY) – Anbang has jumped ship in the pursuit of Starwood after weeks of out-bidding Marriott. Starwood Hotels & Resorts Worldwide put a “For Sale” sign up and Marriott took the bait, but then Anbang wanted a piece and a bidding war ensued.

    After three weeks of going back and forth, Anbang has given up and Marriott has won! But why? We aren’t totally sure. “It’s quite a surprise that they withdrew the offer,” Sigrid Zialcita, managing director of Asia-Pacific research at Cushman & Wakefield Inc. in Singapore, said by phone Friday. “They bit off more than they can chew.”

    While the deal is not officially-official, the deal between Starwood and Marriott is expected to close mid-year. If so, the merger would make Marriott the largest hotel company, with about 1.1 million rooms in 5,700 properties.

    Read the entire article at USA TODAY
    More coverage: Bloomberg and The New York Times

    GET THAT GOLD

    (CNN Money) – Gold had its best quarter since 1986 as it rose 16.5 percent in the first three months of 2016. The world’s largest gold-focused exchange-traded fund, SPDR, are approaching their highest level since December 2013.

    “This is one of the most surprising gold rallies I have ever seen,” said Ira Epstein, a strategist at the Linn Group who has been trading gold for 40 years.gold.PNG

    Gold is demolishing virtually every other asset class this year. But, why? According to several sources, gold is a “safe haven” that investors turn to when they’re scared because it’s a classic. These fears caused investors to pour $13.4 billion into gold assets during a recent 11-week stretch, the largest weekly inflow since the 2009 crisis

    Read the entire article at CNN Money

    More coverage: The Wall Street Journal and MarketWatch

     

     
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