3rd July 2009    5:38

                                                                                                                            .... The hedge fund industry shows signs of stabilisation with continued reduction in redemption.... Neonet says buy-side clients may now utilise its advanced trading platform to access the UBS suite of trading strategies for equities execution. UBS is the most recent addition to Neonet's EMS broker access offering..... Pensplan, the Italian pension fund service provider, appoints State Street for investment servicing mandate.... The Bank of New York Mellon, has been appointed principal paying agent and issuing agent for Qtel International Finance Limited’s $5 bn GMTN programme.... EMCF appoints BNP Paribas Securities Services for settlement outsourcing in Portugal                                                                                 

TODAY'S KEY STORIES

A NEW FACE
Demand from large institutional clients continues to shape the rapidly evolving prime-brokerage model, forcing providers to re-examine what is profitable and what is not, what steps need to be taken in order to help clients improve clarity and risk management,...

NEW STRATEGIES IN A CROWDED MARKET
When algorithms first began to make their mark ten years ago, reports abounded that high-touch sales trading would disappear as the new world order took over, but, to paraphrase Mark Twain, reports of the death of the trader have been greatly exaggerated. A de...

THE 2009 US TRADING ROUNDTABLE
The latest in FTSE Global Markets thought leadership roundtables examines the new dynamic between the buyside and the sellside in the US trading market.

EXECUTION ONLY IS ON THE UP
As agency trading has pulled away from the pack, a distinction has emerged between the different types of agency brokers. According to a report by strategic research and advisory firm Celent, the change in brokerage models is ‘Darwinian’ in its evolution. The ...

THE URGE TO MERGE
There has long been talk of consolidation among asset servicers in Europe’s over-banked landscape but the financial crisis might actually kick-start the process, writes Lynn Strongin Dodds

SAXO MUSCLES IN ON THE WORLD'S BANKING SECTOR
The founders and co-chief executive officers of Saxo Bank AS, Kim Fournais and Lars Seier Christensen, actively foster a staff culture based on “seven Saxo Bank values”, lifted from a novel by Russian-American writer Ayn Rand. The values stress the importance ...

 

More Stories From FTSE Global Markets

PATRICK COLLE: COVERING ALL BASES
Patrick Colle: UK Head of BNP Paribas Securities Services
POOLING TO OPTIMISE RESOURCES
Pension Pooling: the onus on costs
HIGH BROW, HIGH SIGHTS, HIGH SOCIETY
Profile of Joe Velli, charismatic CEO of ConvergEX
UK EYES SUKUK BOOST
Sukuk: UK eases tax treatment
FX TO THE FORE
The 2009 FX roundtable
CHERRY PICKING TALENT
Fund administration: Transparency is key
ALL THAT GLISTERS
London's AIM: Some Canadians think again
HOLD ON TO YOUR HAT
Index revue: on a knife-edge
SHOWING THE WAY
REITS: UK to lead bounceback in Europe?

More Stories From Emerging Markets Report

HARSH TIMES
Asset Management: Brazil
THE SLOW OPENING OF CUBA
Cuba: Time for a Fresh Look
LATAM DUSTS OFF PROJECT PLANS
Laitin America: Courting Infrastructure Funds
CHINA TARGETS REITs
REITs:Will Asian REITs Make a Comback
SAUDI ARABIA: REAL ESTATE IN FOCUS
Saudi Arabia: Bold Plans for the Future
INSTABILITY MOUNTS
Pakistan: The Next Iraq?
BACK FROM THE BRINK
Eastern Europe Reaction to Credit Crunch
CURRENCY UNIONS EYED IN STORMY TIMES
Currency Unions: Strength In Numbers
DRs: A POST RECESSIONARY PARADIGM
The Steady Returns of EM Investment Flows


COVER STORY


HIGH BROW, HIGH SIGHTS, HIGH SOCIETY New York headquartered brokerage ConvergEx is a precocious contender to the broker/dealing big league. A mere toddler, in relative terms (it was only spun out of The Bank of New York in October 2006), the firm is streaking up the dealing league tables. In some respects that’s because the make-up of New York’s leading trading league tables has changed irrevocably, as some of the larger houses have either disappeared or sunk in the volume rankings. In other respects however, the brokerage has consistently punched above its weight and over its short life has made a seemingly indelible mark on the landscape. Has its meteoric trajectory still got legs? Francesca Carnevale talks to Joe Velli, ConvergEx’s chief executive, about his long term vision.