S&P reaches $20 trillion in market cap
“There is a bullish bias remaining in the market after Trump said there will be a phenomenal tax plan coming,” said Nick Raich, CEO of The Earnings Scout. “I think investors don’t want to be on the wrong side.”
Trading Technologies International
Trading Technologies International (TT) appointed Michael Kraines to chief financial officer. Kraines will be responsible for finance, planning, strategy and business development. Prior to joining TT, Kraines spent 25 years as an investment banker in the Financial Technology sector, executing over $35 billion of market structure sector transactions. Kraines joins TT from Sandler O’Neill + Partners, where as a managing director he led the Financial Technology effort.
ED&F Man Capital Markets, Eris swap futures
ED&F Man Capital Markets, the global financial brokerage firm, is now live with clearing and execution of Eris Exchange, a global leader in swap futures, for customer and house accounts. ED&F Capital Markets offers a comprehensive, flexible range of services to manage risk across exchange-traded, over-the-counter OTC products to maintain strong client care. Eris is now on their list of global markets.
hehmeyer names returns with 3 business units
HTG Capital Partners, a Commodity Trading Advisor (CTA) specializing in managed futures programs, rebranded Jan. 25 as Hehmeyer Trading + Investments. The organization will include three main divisions: Hehmeyer Trading Group, its proprietary trading business; Hehmeyer Customer Services, its futures introducing broker operations; and Hehmeyer Capital Management, its commodity trading advisor and commodity pool operator. Previously, in July 2016, HTG Capital Partners acquired the introducing broker, money management and proprietary trading businesses of Kottke Associates.
BrokerTec, NEX Group’s global electronic fixed income trading platform, announced in January that it has agreed to acquire a controlling majority stake in e-MID SIM SpA “e-MID,” the first Italian electronic central limit order book platform for Interbank Deposits and Overnight Indexed Swaps. The transaction is subject to certain conditions, including the approval of the Bank of Italy.
The Vanguard Group topped $4 trillion in assets for the first time at the end of January. In 2016, assets under management grew by $322.8 billion, more than all of its rivals combined. Vanguard is the second largest asset manager to BlackRock, with more than $5 trillion in assets.
FXCM has been banned from operating in the United States after the Commodity Futures Trading Commission (CFTC) found the retail currency broker had an undisclosed interest in the market maker that consistently “won” the largest share of FXCM’s trading volume — and thus was taking positions opposite its retail customers. According to the CFTC, FXCM made false statements to National Futures Association to conceal FXCM’s role in the creation of its principal market maker as well as the fact that the market maker’s owner had been an FXCM employee and managing director. FXCM also agreed to pay a $7 million fine and never seek to register with the CFTC, and the two founding partners, Dror Niv and William Ahdout, will withdraw from CFTC registration. FXCM, Niv and Ahdout didn’t admit or deny the findings.
Additionally, FXCM has committed to selling its U.S. accounts after reaching a settlement with the U.S. financial regulators that requires it to exit the U.S. market.