Tuesday, 30 September 2014
Last updated 18 min ago
Sep 18 2012 | 11:04am ET
The Bank of Nova Scotia aims to expand its prime brokerage business with a new off-the-shelf technology platform and an attractive balance sheet.
The Canadian bank has become the first adopter of CoreOne's PrimeOne platform. And it's hoping its strong credit rating and relative lack of exposure to the troubled eurozone will attract clients.
"Where we might not have been an obvious choice for prime services before, given all the events of the past few years we are more likely to be considered now," John Stracquandanio, Scotiabank's prime services chief, told the Financial Times.
"Prime brokers used to differentiate their business based on technology and their platform. But technology has become a lot more fungible," Michael Ginelli, head of product development at the bank, said. "Since the credit crisis people tend to be a lot more focused on who the bank is. Counterparty is now the first port of call."
With PrimeOne on board, Scotiabank now offers full-service prime brokerage operations in the U.S., with increased services outside of North America, as well.
"We built the PrimeOne business with companies like Scotiabank in mind, delivering comprehensive and advanced capabilities in a more efficient manner within a quantifiable budget," PrimeOne head E.J. Liotta said. "We're driven by delivering a continuous stream of innovative products and services to a marketplace that has traditionally had to build their own technology, at great expense, to service prime brokerage operations."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...