16 – 22 MAY 2013
ommendations about who to connect to,” he said in an interview. SunGard’s most recent client win, an expanded mandate by Kepler Capital Markets, to develop a connection to UBS MTF, is an example of that, Carré said. Kepler, a long-time user of SunGard’s Valdi platform, added access to UBS using the software-as-a-service model just last month. UBS MTF operates the largest dark order book in Europe with approximately 11% of equity market share, according to Thomson Reuters’ monthly market share report for March 2013. Carré said Kepler is an example PHILIPPE CARRÉ global head of conof a firm that was nectivity, SunGard further advanced in its decision to initiate the connection while others are looking for guidance. But both indicate the hesitation over whether to use dark liquidity is disappearing, he added. “A couple of months or years ago
people would have been very cautious. Now there is growing sentiment that dark pools are a tool in the arsenal of choice that people have.” TRADING FIRMS
HSBC sees prime brokerage opportunities in EM
HSBC believes emerging markets hold the most opportunity in prime brokerage, according to Warren McCormick, managing director, who spoke during a morning session of Markit’s Securities Finance and Equities Forum in New York. In the emerging markets, HSBC’s prime brokerage business is focusing on Brazil and China, McCormick told WSL on the sidelines after his panel. Helped in part by a rise in securities lendin ????????? ???????????????????????????????????????????????????????????????????????????!??????????????????????????????????????????????????????????????????????????????????()
?????Q?????????????????????????????????????????
??????????????????????????????q
???????????????????????????t?5?
??????????? ???????????????????????????????????????????????????????????????????????????????!M ?e??????????????????????????????????????????????????????????????????????5?
????????????Q???????????????????????????????????????????????????????????????????????1??????????????????????????????????????????????5?
?????????????????????????????????????????????? ??????????????????????????????????????????5?
????????????????????????????????????????????????????????????e????A?????????????????????!M ?e???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????e????????????????????????????((??()Q()
Q ??????????????????????????()P()???
??????????????Q??????
?????????????????????????????????????????????????????????????????
??????????M??????e5???????????????????????5???????????????????? ?????????????
???????????9eT?A??????????????????????????
Q ????e??????????????e??????????????????????????????????????????????????????????????????????????????????e5???????????????????????????????????????????????????????????????????????????????????????????????q]??e????????????????????M
=QP???e51%????????????????????????????t?
Q ?
????????????e5?????????()Q???
??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????e???????????????????]?????????????
??????????????????????????????????????qQ????e?????????????????????????????????????????????????????????????t???e5??????????????Q?????????????????????????????????????????????????????????????????????????????e?????????????????????????????????????????????????e5????????????????e5???????????????????????????????????????????????A???d?Q?????????????????????????????????????????????????????????????????????Q?????????????????????????????????????????????????????????????????????????????????????????e5?????????????????????????????????????????????????????????????qQ??????????????????????????????????t??????????((0