THETRADETECH DA I LY
BUY-SIDE NEWS
latest news
THE OFFICIAL NEWSPAPER OF TRADETECH 2018
Technology
FCA PURSUES ANNUAL BUY-SIDE
‘VALUE FOR MONEY’ ASSESSMENT
Asset managers in the UK will be forced
to provide annual assessments with
regards to costs and value for money of
funds. Fund managers will have to as-
sess value for money against a ‘non-ex-
haustive’ list of elements prescribed by
the Financial Conduct Auth ority (FCA),
including whether charges are reasonable
in relation to costs and the quality of
service provided.
NATIXIS REBRANDS ASSET
MANAGEMENT BUSINESS
Natixis Investment Managers is to
rebrand its asset management busi-
ness with a renewed investment
focus towards fixed income, equity and
insurance. The rebrand will see the €324
billion asset manager renamed ‘Ostrum
Asset Management’ as part of Natixis’
‘New Dimension’ strategic plan, which
was laid out last year.
ALLIANCE TRUST SELLS LIONTRUST
SHARES FOR £21 MILLION
Alliance Trust has sold its 4,060,792
shares, or 8.2% stake, in Liontrust Asset
Management and raised net proceeds of
£21 million. The global trust firm received
the shares - valued at £17 million or
334.9p per share - when Liontrust agreed
to buy its asset management business,
Alliance Trust Investments, in April 2017.
JP MORGAN TRADING TEAM
DEVELOPS MACHINE LEARNING
MODEL FOR EQUITY DESK
JP Morgan Asset Management’s equity
trading team has developed a new model
using machine learning to make the
execution of orders more efficient and
less expensive. The equity desk, led by
Lee Bray, head of equity trading for Asia
Pacific at JP Morgan Asset Management,
is looking to have to have 50% of trading
flow driven by machine learning by the
end of the year.
8
THETRADETECH DAILY
Fidelity International partners up
for cloud-based data platform
LUSID PLATFORM PARTNERSHIP ALSO INCLUDES HSBC SECURITIES SERVICES,
ATLANTA WEALTH AND FINTECH FIRM FINBOURNE.
F
idelity International has teamed up with
FinTech firm FINBOURNE, HSBC Securities
Services and hedge fund Altana Wealth to
design a new cloud-based investment manage-
ment platform.
The four organisations will collaborate to
design a shared, cloud-based data utility that
aims to reduce operating cost and improve the
quality of information for in-house and client
use.
The platform, named LUSID, is aimed at
replacing existing in-house software and hard-
ware, and achieve advanced standards of data
handling for institutional clients.
“FINBOURNE is building a platform from the
ground-up based on collective experience which
allows us to approach data challenges in a novel
way,” said Yugo Ashida, director, architecture, at
Fidelity International.
“Being a member of the LUSID Design Council
gives us the flexibility to test different tech-
nology, apply new thinking and put in place the
foundations to reimagine our current architec-
ture.”
Industry bodies and regulators alike have been
encouraging asset managers to collaborate
more with FinTech firms to optimise processes
and increase efficiency through new and emerg-
ing technologies.
Both the Financial Conduct Authority (FCA)
and the Investment Association have an-
nounced new innovation hubs and accelerator
programs, designed to boost technology innova-
tion and adoption by buy-side firms.