Friday, 29 August 2014
Last updated 16 hours ago
Jan 22 2007 | 10:20am ET
State Street Corp. is expanding its foreign-exchange trading capabilities, agreeing to buy Currenex for $564 million in cash. Currently privately-owned, Currenex offers the high-volume, high-frequency active-trading services favored by hedge funds.
“Today’s announcement reflects our proven strategy of acquiring key technologies that enhance capabilities for our customers and expand our market share in high-growth areas such as foreign exchange,” State Street Vice Chairman Joseph Hooley said. “This acquisition also diversifies State Street’s trading customer base beyond traditional asset managers to include more active currency managers and hedge funds.”
State Street’s existing forex platform, FX Connect, is a major institutional electronic trading service.
“The two platforms are extraordinarily complementary with almost no overlap,” explains State Street Global Markets head Stanley Shelton. “Once this transaction closes, we will more quickly to integrate Currenex’s technology with Global Link, our multi-asset class trading platform.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...