NEWS UPDATE
FOREIGN EXCHANGE
Nomura to launch electronic FX trading engine in Singapore
The launch of the FX pricing engine in Singapore by Nomura comes as part of a regulatory scheme to make the region a trading hub .
Investment bank Nomura has launched an electronic foreign exchange pricing and trading hub in Singapore with the support of the Monetary Authority of Singapore ( MAS ).
The launch comes as part of a wider regulatory initiative by MAS to attract some of the largest banks to Singapore in a bid to make it a major currency trading hub . Nomura joins a growing list of some of the largest market participants to have launched an engine in Singapore as part of the scheme including Northern Trust , Goldman Sachs , JP Morgan , BNP Paribas , BNY Mellon , Deutsche Bank , Barclays and Macquarie .
The new e-FX pricing engine will be the fourth of its kind launched by Nomura , joining its trading engines already in operation in Tokyo , London and New York .
“ As a global financial services group with a strong presence in Singapore , we are fully committed to supporting the city-state ’ s development as a major global FX hub ,” said Rig Karkhanis , deputy head of global markets and global head of FX and emerging markets at Nomura .
“ This initiative , which is expected to go live later this year , will help support our clients with better infrastructure for execution , improved access to liquidity and effective price discovery .”
BUY-SIDE
Columbia Threadneedle agrees $ 845 million deal to acquire BMO European asset management business
The acquisition of BMO EMEA asset management arm will add $ 124 billion of AUM at Columbia Threadneedle , making it a top 35 global asset manager .
US asset management firm Columbia Threadneedle Investments has agreed to acquire the European investment business of Canada ’ s BMO Financial Group for $ 845 million in cash .
Columbia Threadneedle ’ s parent company , Ameriprise Financial , confirmed that terms of the deal had been agreed on 12 April and it is expected to close by the end of this year , subject to regulatory requirements .
It will add $ 124 billion of assets under management ( AUM ) to Columbia Threadneedle ’ s EMEA business , taking its total AUM to $ 671 billion , making it one of the top 35 asset managers globally and top 10 asset managers in the UK .
8 // TheTRADE // Summer 2021