Bruno Zutterling, Director for Investment Fund Services at Clearstream, knew where to look for clients of the Vestima+ mutual fund order routing platform he has created. What better place to start than CDC IXIS, the French banking group where he
State Street says it is servicing nearly two thirds of the Securities Investment Trust Enterprise (SITE) collective investment funds market in Taiwan. The Boston based bank claims that, at 31 August 2004, it was supplying investment services including fund accounting
Totem Market Valuations, the provider of derivatives valuation services, has expanded its independent pricing service for interest rate swaptions, caps and floors. It now includes Swiss Francs, Hong Kong Dollars and Korean Won. Totem already provides pricing information on vanilla
An iShares Exchange Traded Fund (ETF) based on the FTSE Xinhua China 25 Index has been launched by BGI. This is the first China only ETF for US investors. It is traded on the New York Stock Exchange. On the
A study published in the recent issue of The Journal of Finance has found that short term shareholders impose more transaction costs on mutual funds than long term shareholders, who end up subsidizing these costs. Interestingly, mutual funds can predict
The Financial Planning Association has praised the Securities and Exchange Commission for initiating a 'fact finding' investigation into reported problems with fee based brokerage programs. The SEC joins the NASD and New York Stock Exchange in investigating possible abuses of
The decision by the Securities and Exchange Commission (SEC) to ban directed brokerage commissions taken by unanimous vote on 18 August will see the $475 million spent each year on directed brokerage in the US or approximately 75 million shares
U.S. Bancorp Fund Services (USBFS) says it is now offering chief compliance officer (CCO) services, and has been appointed CCO for 41 mutual funds. "The added compliance responsibilities in today's business environment are a challenge for some mutual fund companies
The Staff of the Securities and Exchange Commission (SEC) is considering recommending that the SEC bring a civil action against American International Group, Inc. (AIG)., alleging violations of the federal securities laws. The violations are in respect to three AIG
Opus Prime Capital will be launching a discretionary managed futures program later this month on Schneider's platform. The portfolio manager, Jin Khang, was formerly a proprietary trader at Kidder Peabody, Fuji Bank and Korea Exchange Bank. In 1998 he began