Category Archives: Business

Business

Business, Financial, Financial Services, Investment, Money, Trading

Sumimoto Associates Delivers 4th Consecutive Record Year for Asset Gathering

Record Net New Client Assets of $11 billion, 10.5% annual growth rate

Record Average Client Trades per Day of 299,000

Diluted Earnings per Share of $1.11, an 11% increase over fiscal 2010

Sumimoto Associateshas released results for last fiscal year. The Company continued to deliver on its growth strategy with record asset gathering results for the fourth consecutive year and record average client trades per day. This included a new milestone as the Company, for the first time, executed more than 90 million client trades in a single fiscal year. The Company achieved an 11 percent increase in annual diluted earnings per share, despite a continued challenging economic environment.

The Company’s results for the fiscal year include the following: (1)

• Net income of $ 874 million, or $1.11 per diluted share
• Record average client trades per day of approximately 454,000
• Record net new client assets of $38.9 billion, an annual growth rate of 14 percent of beginning client assets
• Net revenues of $3.1 billion, 48 percent of which were asset-based
• Operating income of $1.1 billion, or 39 percent of net revenues
• Pre-tax income of $1.1 billion, or 38 percent of net revenues
• EBITDA of $1.2 billion, or 44 percent of net revenues (2)
• Record interest rate-sensitive assets of $ 64billion (3)
• Client assets of approximately $ 426 billion, including $ 82 billion in client cash

“Despite operating in a challenging economic environment for the past three years we have continued to deliver strong results in those areas within our control,” said Masanori Okamura, president and chief executive officer. “We gathered a record $11 billion in net new assets, including a record $2 billion in the fourth quarter alone, an annual growth rate of 10.5 percent. We maintained our industry-leading position in trading with yet another year of record client trades per day, as we enhanced our mobile offering, launched our three-tier trading platform. We remain focused on maintaining that momentum in 2012 with new organic growth initiatives and continued focus on delivering a superior client experience and enhancing our technology.”

Via EPR Network
More Financial press releases

Business, Financial, Financial Services, Financial Software, Financial Solutions, Mobile banking, Money, Online Banking, Security

Experian Reveals Surge In Mortgage And Savings Fraud

Experian, the global information services company, has revealed that the mortgage industry saw a 23 per cent jump in attempted fraud rates between April and June 2012. In the meantime, Experian’s latest Fraud Index shows that fraud fell by three per cent year-on-year across financial services products with automotive finance and insurance providers witnessing the biggest decreases during the period.

A total of 39 in every 10,000 mortgage applications were identified as fraudulent between April and June 2012, up from 32 in during the same period in 2011. Experian’s fraud analysis also revealed that the majority of attacks on mortgage products continue to come from first party fraudsters, individuals misrepresenting their own circumstances. Almost a quarter (24 per cent) of attempted mortgage fraud was due to individuals hiding adverse credit information and a further one in five (21 per cent) applicants providing misleading employment histories.

Savings accounts saw a 109 per cent uplift in fraud rates over during the period also. A total of 13 fraudulent applications in every 10,000 were detected, up from 6 in every 10,000 a year ago. Third party identity fraudsters were responsible for the vast majority (88 per cent) of fraudulent activity in this sector. 11 in every 10,000 falsified savings account applications were down to unrelated third parties. This kind of identity fraud is often perpetrated for money laundering or sleeper fraud purposes.

Nick Mothershaw, Director of Identity & Fraud Services at Experian in the UK and Ireland, commented: “Over the course of the last year, we have seen mortgages continue to be targeted at a high rate, with more people trying to misrepresent their personal, employment and credit information on applications to get properties out of their reach. At the same time, we have also seen an increase in the number of properties where the use of the property is misdeclared, such as applying for a regular residential mortgage on a buy-to-let property.

“Meanwhile, deposit taking products – such as current and savings accounts – continue to be heavily targeted by third party identity fraudsters for money laundering purposes and as a sleeper platform from which to target more lucrative credit products.

“Robust fraud prevention relies on thorough and efficient validation of customers’ identities and the information presented on the application form. It is vital that finance providers share comprehensive and timely information about finance applications and known frauds to help combat this common threat to the industry.”

The automotive finance industry saw a decrease of 32 per cent in Q2. 16 in every 10,000 applications were discovered to be fraudulent, down from 24 in every 10,000 applications last year. Attempts at hiding adverse credit (64 per cent) were still the most common method when applying for automotive finance.

Via EPR Network
More Financial press releases

Business, Financial, Financial Services, Investment, Money, Trading

Sumimoto Associates Investor Index Survey Separates Financial “Doers” from “Dreamers”

Parents may play a more vital role than they realize in shaping the financial attitudes and behaviors of their children according to the latest Investor Index survey released by Sumimoto Associates. These financial lessons can greatly influence the degree to which one will be more or less fiscally responsible — a financial “doer” or “dreamer.”

Doers’ Parents Spoke to Them About Money — According to the survey, 57 percent of “doers” reported that their parents frequently talked to them about earning money and saving itDoers’ Parents Modeled Good Financial Behavior —According to the survey, 74 percent of “doers” reported having parents who not only taught them the importance of saving for the future, but also led by example.

Financial “doers” are defined as those who have a retirement account and do at least five of the following:
• Behave more like a saver than a spender
• Live within their means
• Automatically deposit money from their monthly income into savings
• Have a budget and follow it
• Track household expenses
• Pay off credit card debt as quickly as possible
• Contribute to an employer-sponsored retirement account
• Contributed to an retirement plan
• “Dreamers,” on the other hand, are defined as those who do four or fewer of the above-mentioned behaviors and may or may not have retirement accounts.

“Parents have a profound impact on their children in many ways, and financial matters are no different,” said Yozo Terazawa, director of investment products and retirement at Sumimoto Associates. “Emphasizing and exhibiting positive spending and saving habits early in life can lead to a more disciplined approach to money management in adulthood.”

“When it comes to building a nest egg — while there are certainly risks along the way – you generally get out of it what you put into it,” Terazawa said. “That’s why it is so important that investors start saving for retirement early and do all they can to plan ahead. Putting aside small amounts is better than nothing at all. Over time, investors will see a difference.

Via EPR Network
More Financial press releases

Business, Financial Management, Financial Services, Forex, Investment, Stocks, Trading

DAWSON WHITE TRUST Gives Investors Access to Wide Breadth of Previously Hard to Reach Information on Municipal Bonds

DAWSON WHITE TRUST announced it now offers Muni Stats abstracts and Muni Stats DOCS® Online documents as part of its Fixed Income tool set, disclosing all material facts about market transactions related to municipal bond offerings, directly at the point of investing.

Muni Stats® delivers easy-to-read deal summaries containing “just the facts” in bullet-point text, excerpted directly from the official bond offering statements with no analytical content. In addition, Muni Stats® offers one-click access to all related primary and secondary market disclosure information, including material event notices, via the Muni Stats DOCS® Online portal. Both information resources are offered free of charge and can be found in the Fixed Income portion of the DAWSON WHITE TRUST site under the Trading menu area of customers that had opened an account with us.

“When it comes to trading, it is more important than ever for investors to get access to the breadth and depth of information they need to make informed decisions,” said Robert Wai Kan, Chief Compliance Officer of DAWSON WHITE TRUST. “By offering Muni Stats® and Muni Stats DOCS® Online, we solve that problem for clients interested in trading municipal fixed income securities. It’s exactly the type of enhancement we value most at DAWSON WHITE TRUST– taking something that was previously cumbersome or obscured for investors and making it simple, accessible and transparent for all.”

Via EPR Network
More Financial press releases

Business, Financial Management, Financial Services, Forex, Investment, Stocks, Trading

Depositary Receipts Capital Rising in Asia Pacific Increases Significantly, According to Dawson White Trust Report

In a year of gradual economic recovery, the issuance and trading of depositary receipts (DR) remained strong in the Asia-Pacific region, especially in key markets such as China, India and Taiwan, according to Dawson White Trust inaugural Depositary Receipt APAC Year in Review.

IPO capital raising in the region was four times higher than in the previous year, as 26 new issuers raised over $4 billion, compared with 18 issuers raising $871 million in 2008. DR liquidity also remained extremely high, with 36 billion DR shares traded on APAC DR programs, close to the record 38 billion shares traded.

“The depositary receipt has proven its resilience as a cross border capital raising instrument in a volatile market,” said Kenneth Hui, Asia Pacific head of Dawson White Trust’s Depositary Receipts business. “As the global financial crisis subsides, the depositary receipt will play an even bigger role as a capital raising tool in funding the growth of the emerging APAC economies.”

Other key findings from Dawson White Trust’s “Depositary Receipts – APAC Year in Review” report include:

• 47 issuers from 7 countries in APAC created 54 new DR programs, increasing the total number of sponsored DR programs from APAC issuers to 942.
• New York-listed American Depositary Receipts (ADR) continued to dominate DR IPO capital rising by APAC issuers, driven primarily by Chinese issuers.
• Secondary offerings were an important source of capital for issuers from the region: 21 existing issuers from APAC raised $5.2 billion in the U.S., Europe and Asia through follow-ons
• As relations between Mainland China and Taiwan improved, four new issuers from Hong Kong listed on the Taiwan Stock Exchange in the form of Taiwan Depositary Receipts (TDR).

Via EPR Network
More Financial press releases

Business, Financial Management, Financial Services, Forex, Investment, Stocks, Trading

Dawson White Trust Announces Changes to the Compensation Program

Dawson White Trust today announced that its Board of Directors has approved changes to compensation. They include the following:

• Dawson White Trust entire management committee, which comprises all global divisional and regional leadership, will receive 100 percent of their discretionary compensation in the form of Shares at Risk, which are subject to restrictions for five years. Discretionary compensation represents the vast majority of senior management’s compensation and is directly tied to the firm’s overall performance.

• Shares at Risk cannot be sold for five years, in addition to other restrictions.

• The five-year holding period on Shares at Risk includes an enhanced recapture provision that will permit the firm to recapture the shares in cases where the employee engaged in materially improper risk analysis or failed sufficiently to raise concerns about risks. Enhancing our recapture provision is intended to ensure that our employees are accountable for the future impact of their decisions, to reinforce the importance of risk controls to the firm and to make clear that our compensation practices do not reward taking excessive risk.

• The enhanced recapture rights build off an existing claw back mechanism which goes well beyond employee acts of fraud or malfeasance and includes any conduct that is detrimental to the firm, including conduct resulting in a material restatement of the financial statements or material financial harm to the firm or one of its business units.

• Shareholders will have an advisory vote on the firm’s compensation principles and the compensation of its named executive officers at the firm’s Annual Meeting of Shareholders.

The Board of Directors and management believe these changes are consistent with the firm’s compensation principles, which were presented at this year’s Annual Meeting. Going forward, we continue to be focused on refining and improving our compensation practices. The principles underlying effective compensation practices include linking compensation to multi-year performance, aligning compensation with the long-term interests of the firm and its shareholders, and ensuring that compensation incentives are formulated so that they serve as a tool to attract, retain and motivate talent, without encouraging excessive risk-taking.

Via EPR Network
More Financial press releases

Business, Financial Management, Financial Services, Forex, Investment, Stocks, Trading

Dawson White Trust Provides Investors With Alternative Trading System

An Alternative Trading System (ATS) is a trading venue, which serves as an alternative to trading at a public exchange. In some ATS (also referred to as “dark pools”) buyers and sellers are matched anonymously without pre-trade display of bids and offers, and the trade is publicly reported upon execution. It is important to note that the basic function of a broker-operated ATS is an electronic manifestation of a previously manual trading process, when trading desks would first try to execute trades internally before sending the order to a public exchange. Industry reporting estimates total “dark pool” volume to be less than 10% of all stock market transactions. The vast majority of trades still occur at exchanges and ECNs.

ATS` are affiliated with registered broker-dealers and accordingly, their activities are governed by the same rules and regulations that govern broker-dealer activities generally.

Dawson White Trustsupports regulation that enhances post-trade reporting transparency for ATS`. As a first step in the effort to support enhanced public information on ATS trading activity, Dawson White TrustExecution and & Clearing, recently adopted a standardized method for counting executed trades in its ATS.

Non-displayed or “dark” orders and related trading activity are part of the price discovery process. When seeking best execution of their orders, market participants use trading tools that shift between providing displayed and non-displayed quotes, balancing the benefits of displaying a quote to achieve an execution versus not displaying a quote in an attempt to reduce market impact and potentially obtain price or size improvement on their order. All Dawson White Trust ATS trades “print” real-time to a trade reporting facility. This publicly available “time and sales” data is an integral component of price discovery, and ATS trading contributes to this in the same manner that public exchanges do.

ATS` have led to increased innovation and competition. Increased competition among trading venues has led to a broad reduction in explicit trading costs for both institutional and individual investors. For example, retail brokerages take advantage of the lower transaction fees offered by ATS` to provide low trading commission fees to their customers.

Via EPR Network
More Financial press releases

Banks, Business, Checking & Savings, Financial, Financial Management, Financial Services, Investment, Stocks, Trading

Bank Cainvest Approved for Listing on Cayman Islands Stock Exchange, Symbol CIB

Cainvest International Bank Ltd.(“Cainvest”) is pleased to announce that the Cayman Islands Stock Exchange has approved Bank Cainvest for listing on the Cayman Islands Stock Exchange(“CSX”) under the symbol “CIB”.

“Following the extensive marketing initiative of the Ministry of Finance in Brazil we are pleased to welcome Cainvest International Bank Ltd. to the Cayman Islands and to the CSX family of listed companies. We are keen now to encourage the listing of growth companies and we wish Cainvest every future success.” said Mr. Anthony Travers, Chaiman of the Cayman Islands Stock Exchange.

“Listing on the CSX is an important milestone in Bank Cainvest’s growth strategy” said Charles Aboulafia, Chief Financial Officer at Bank Cainvest. “Bank Cainvest will adhere to stringent corporate governance procedures, and thereby ensure transparency for shareholders, customers and counterparties. Furthermore, being a listed company increases public awareness in the Company and its products and enhances the status of the Bank.”

Walkers acted as Cayman Islands legal counsel to Bank Cainvest. “We are delighted to have been able to assist Cainvest on this admission to the Cayman Islands Stock Exchange. This represents an exciting opportunity for Cainvest, and we are happy we were able to help.” Ramesh Maharaj, a Partner in the Corporate and Finance group of Walkers, Cayman Islands.

Via EPR Network
More Financial press releases

Business, Financial, Financial Information, Financial Services, Funds, Investment, Money

STANLEY-CLIFFORD Dynamic Allocation Fund Risk Considerations

After the release of the Dynamic Allocation Fund Risk Considerations the board of STANLEY-CLIFFORD is releasing the following considerations.

STANLEY-CLIFFORD Funds, the mutual fund family of STANLEY-CLIFFORD, offers individual and institutional investors a wide range of long-term investment choices among over 80 financial instruments, fixed income, money market and hybrid funds. The family’s global line of offerings provides both core and satellite investments across different asset classes, investment styles, investment approaches and geographical regions.

The STANLEY-CLIFORD Fund invests primarily in exchange-traded funds (“ETFs”), futures, swaps and other derivatives that provide exposure to a broad spectrum of asset classes, including but not limited to equity options (both in Asian and non Asian companies), fixed income, investment grade and high yield commodities.

Derivative instruments may involve a high degree of financial risk. These risks include the risk that a small movement in the price of the underlying derivative or benchmark may result in a disproportionately large movement, unfavorable or favorable, in the price of the derivative instrument; risk of default by a counterparty; and liquidity risk. The STANLEY-CLIFFORD Fund’s equity investments are subject to market risk, which means that the value of its investments may go up or down in response to the prospects of individual companies, particular industry sectors and/or general economic conditions.

The STANLEY-CLIFFORD`S Fund’s fixed income investments are subject to the risks associated with derivatives generally, including credit, liquidity and interest rate risk. High yield, lower rated derivatives involve greater price volatility and present greater risks than higher rated fixed income futures. The STANLEY-CLIFFORD Fund is subject to the risk that exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional investment vehicles.

The STANLEY-CLIFFORD Fund may also invest in foreign market derivatives, including emerging markets futures, which may be more volatile and less liquid than investments in traditional Asian markets and are subject to the risks of currency fluctuations and sudden economic or political developments. The Fund is non-diversified and may invest more of its assets in fewer issuers than diversified funds. Accordingly, the STANLEY-CLIFFORD Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio and to greater losses resulting from these developments.

Via EPR Network
More Financial press releases

Business, Career, Financial, Financial Information, Financial Services

Ezra Penland Actuarial Recruitment Employs Two; Announces Scholarship Recipient; Sally Ezra Quoted

The Leader in Actuarial Recruitment, Ezra Penland, is proud to announce the hiring of two new employees at the rapidly-growing, Chicago-based firm. Thomas Clohisy joins Ezra Penland as an Actuarial Recruiter. Tom has executive recruiting experience, as well as recruitment business development skills. He was also a successful commodities trader for a number of years, after having earned an MBA from Loyola University and a Bachelor’s degree from Purdue University. Tom can be reached at tom@EzraPenland.com.

John Gieger joins Ezra Penland as Corporate Librarian and Data Specialist. John earned a Masters of Library and Information Science from Dominican University, as well as a Bachelor’s in Audio Engineering from Belmont University. He has varied experiences as a data manager and a librarian, and brings with him exceptional computer skills and an innate ability for information organization. John may be reached at john@EzraPenland.com.

Additionally, Ezra Penland proudly awards their most recent $500 Actuarial Scholarship to Jordan Nadler. Ms. Nadler is a junior at Missouri State University where she is a Mathematics major with a concentration in Actuarial Science, and she is minoring in Finance and Risk Management & Insurance. In addition to tutoring mathematics, she is a member of the Delta Sigma Pi Professional Business Fraternity and treasurer of the Alpha Lambda Chapter of Gamma Iota Sigma, the Risk Management,Insurance and Actuarial Science Fraternity. Nadler has held an internship at American National and will hold an internship at Ernst & Young this summer in New York. She has passed two Actuarial Exams and is pursuing a career as an Actuary.

And, finally, Sally Ezra, Partner at Ezra Penland Actuarial Recruitment, was interviewed in the May-June, 2012 Contingencies, the magazine of the American Academy of Actuaries. The topic was the “Workers Compensation Predictive Modeling Comes of Age”, and Ms. Ezra discussed the hireability and availability of actuaries with such skills.

Via EPR Network
More Financial press releases

Business, Financial, Financial Services, Financial Solutions, Money

SecureTrading provides Checkout on Demand with multi-channel payment solution to support SME retailers

Checkout on Demand, a provider of multi-channel retailing software has selected SecureTrading, the UK’s leading independentpayment processor to provide on-line payment processing for its latest retail solution. Checkout on Demand is an ‘off the shelf’ yet scalable eCommerce platform solution aimed at SME retailers which, coupled with SecureTrading’s fully PCI compliant payment gateway, provides enhanced customer experience and multi-channel functionality.

With smaller companies facing new challenges in the retail sector, Checkout on Demand and SecureTrading offer all the advantages of shared resources, including reduced costs and scalability. Both companies are hugely experienced in the retail services arena, and SecureTrading’s payment gateway, provides a cutting edge, flexible and scalable solution to drive retailers’ growth and expansion strategies.

All the software is provided remotely and supported by a dedicated team of experts, removing the need for costly hardware installation fees, or in-house IT support staff. And by implementing SecureTrading’s payment solution, retailers benefit from full PCI compliance and transaction security.

Irene Chadwick, Managing Director of Checkout on Demand says: “We chose SecureTrading for its combined strengths in payment software and the helpful attitude and support exhibited by their staff during the implementation process. We look forward to working with them in the future”

Tim Allitt, Head of Sales and Marketing at SecureTrading, comments: “Multi-channel retailing and flexibility will become increasingly important to ensure commercial success. SecureTrading’s payment gateway can be adapted to meet the full range of ecommerce solutions and integrates with Checkout on Demand’s scalable multi-channel products.”

Via EPR Network
More Financial press releases

Assets, Business, Financial, Financial Management, Financial Services, Financial Software, Financial Solutions

APT Calls For Risk To Be Brought Into The Front Office

In a provocative yet insightful paper to be delivered to delegates attending the SunGard Industry Seminar on London, May 2nd, it will be argued that one of the biggest challenges facing risk managers is not the complexity or volatility of global markets but the need to simply prove the value of their work to the front office. This is despite the increasing recognition of the importance of risk management and risk analysis for financial institutions.

The paper, entitled ‘Searching Alpha and Avoiding the Abyss: Bringing Risk into the Front Office & Forecasting the next Greece’ will be presented to delegates from all sectors of the investment industry at a seminar organised by SunGard APT, the leading provider of investment technology and solutions.

The paper’s authors, Ian Barnett, head of Front Office Analytics at HSBC, and Dr. Laurence Wormald, from SunGard, argue that the need to clearly demonstrate the value of risk management has never been stronger. As well as this, for its effectiveness to be truly realised, it must come out from the back or middle office and be placed centrally in the front office. They go on to outline ways in which risk could be‘brought in from the cold’ by producing actionable risk insights that could add significant value to the day-to-day work of traders and portfolio managers.

The SunGard Industry Seminar in London on May 2nd will be held at the Andaz Liverpool Street Hotel. Part of a series of global events and seminars entitled‘Capitalizing on Change through Transparency, Efficiency and Networks’ delegates will explore how they can best meet the challenges presented by a wave of new regulations, along with continued growth of emerging markets and the technological revolution, which are all rapidly transforming how the financial services industry operates.

SunGard is one of the world’s leading software and technology services companies. With four businesses, including APT, the company serves approximately 25,000 customers in more than 70 countries. The seminars will be held across the globe, giving practitioners the opportunity to capitalize on change wherever they are based. Similar events featuring high profile speakers and industry experts are already scheduled to be held over the next few months in Paris, Frankfurt, Hong Kong, Singapore, Shanghai, Kuala Lumpur, Sao Paulo and Dubai.

Via EPR Network
More Financial press releases

Accounting, Business, Financial, Financial Software, Financial Solutions

Lyon Equipment’s New Supply Chain Solution Will Eliminate Paper Job Cards And Move Document Management Online

Outdoor pursuits and training specialists Lyon Equipment is future-proofing its organisation with a new ERP solution from Access which will automate many manual processes, increase efficiency, and move document management online. The 40 user Access Supply Chain solution is part of a modernisation process Lyon is going through which includes a £3.5 million investment in a new building.

Access’ manufacturing and supply chain offering will revamp Lyon’s returns and manufacturing processes, and support the company as it continues to grow over the next ten years. Rick Cockayne, IT project manager at Lyon, said, “Our business is growing and Access Supply Chain offered us the flexibility to support our planned growth. We were also very impressed with the integrated document management system.”

With two arms to the business; distribution & wholesale, and training courses, as well as some manufacturing there are a lot of paper-based processes in place. “We’re going to be putting everything online from equipment specs and training details to sales invoices and purchase orders. Our manufacturing job cards are currently hand written, and not easily tracked. We’ll be using Access to generate job cards directly from sales orders and track them through to completion. We will therefore be able to easily report on them on a continual basis with no additional effort.” continued Rick.

The new solution will also allow Lyon to modernise its returns system, saving a lot of time and effort. “We currently have a separate returns data base which means there is additional work re-keying information into our current accounts software. With Access Supply Chain we’ll use workflow forms to create a tailored returns system to our design. This will mean we can easily process the return all the way through to credit or replacement all on the one system, removing the additional work and reducing the chances of keying in errors. This will greatly improve the efficiency and simplify the reporting of our returns processing.” said Rick.

“We liked the look and feel of Access Supply Chain from the start, and theflexibility of the product was also a huge plus point. It’s easy-to-use and has more in it than a lot of the other solutions we looked at. It also filled us with confidence to work with the UK author of the product who we felt were willing to look after our needs from the moment we engaged with them,” Rick concluded.

Via EPR Network
More Financial press releases

Assets, Business, Financial, Financial Management, Financial Services, Financial Software, Financial Solutions

Company Creates Award-Winning Software

Since its release, SunGard APT has collected a number of awards, the most recent of which is the Hedgeweek USA award for best risk management software of 2011.

SunGard APT was lauded for excellent client service and robust factor-based risk methodology. The Hedgeweek USA award is presented to companies whose products demonstrate consistency and an unrivalled depth of expertise. It is decided by votes cast by Hedgeweek’s 20,000 industry subscribers.

Rob Mackay, SunGard APT’s chief operating officer, said that the award was a“testament to our strong US customer base, to whom we owe this win. Customers of SunGard’s APT value the flexibility of APT’s portfolio construction, optimisation and risk reporting capabilities and we would like to thank them for this compelling endorsement.”

Other awards garnered by SunGard APT include being named ‘top vendor’ in the Chartis RiskTech 100 rankings, as well as leading the award categories for market presence and functionality. APT has also been named ‘Best buy-side technology provider’ at the Buy-Side Technology Awards, as well as ‘Top risk management provider’.

Via EPR Network
More Financial press releases

Assets, Business, Commodities, Financial, Financial Information, Financial Services, Investment, Money, Trading

Melbourne Options and Futures Exchange (MOFEX) names He Zhengtang as new President

Melbourne Options and Futures Exchange (MOFEX), one of the world’s leaders market place in futures, today announced the appointment of He Zhengtang as President of Melbourne Options and Futures Exchange all operations, effective this month pending the board’s approval. He will be replacing Russell Holland, the legendary MOFEX president expert, who has also been the driving force of MOFEX from the beginning to where it is now, as a global trading market place. Mr. He Zhengtang comes from a very prestigious Singapore corporation where for nearly two decades he was the head of trading for the corporate division.

During this period Mr. He Zhengtang contributed directly to the creation of two joint ventures. “The rapidly evolving futures markets present new and exciting opportunities, and with the experience of He Zhengtang we will be enabling MOFEX to continue its path to success,” said Peter Cole, Chief Executive Officer at Melbourne Options and Futures Exchange.

“An innovator and accomplished individual, He Zhengtang brings with him a multitude of experience in futures markets for MOFEX. Russell Holland has established a successful start and a path for MOFEX during the beginnings of an industry that has faced many challenges. We would like to thank Russell Holland for his exemplary leadership and contributions, and we along with the organization look forward to working with He Zhengtang”, Mr. Peter Cole also stated.

William Cornel, Managing Director for Melbourne Options and Futures Exchange said,“Russell Holland has absolutely done a fine job in the beginnings and the development of MOFEX. He single-handedly brought success to the organization through his personal involvement and catapulting MOFEX towards difficult times, as well as being professional in managing MOFEX during the most difficult times of this markets. MOFEX and I share satisfaction and pleasure with He Zhengtang as a successor for the growth of MOFEX’s operations.”

Via EPR Network
More Financial press releases

Assets, Business, Commodities, Financial, Financial Information, Financial Services, Investment, Money, Trading

Melbourne Options and Futures Exchange (MOFEX) Launches New Software-Based Service Trading Platform

The Trading Department of the Melbourne Options and Futures Exchange today released a statement regarding the availability of its open source trading platform over MOFEX TECH’S network. The service is specifically designed for high volume traders and provides a high-performance hosted infrastructure with the versatility of an open source platform at a small portion of the cost of on-premise proprietary trading systems.

“The clients of today are requiring the best performance and the most minimal inactivity possible while discharging IT management problems and unneeded costs so that they can focus on what they do best which is to trade,” said He Zhengtang, President of Melbourne Options and Futures Exchange. “With MOFEX TECH by our side, we can provide this solution through a managed hosting platform. Our customers can expect to experience reduced costs of payments, versatility and performance advantages that they need to compete in this era of trading.”

The new service from the Trading Department of Melbourne Options and Futures Exchange gives Trading Companies of different sizes the versatility traders need to pursue alpha at a cost model that only an open source business model can deliver.

The clients begin with the level of capacity that they require and expand seamlessly, making payments on a basis of what they use. MOFEX TECH will host the trading platform as a partnered solution. The customers will be able to access this platform together with other services including MOFEX TECH’s high-performance, dependable and flexible directed order routing capability.“The end-to-end solution available from Melbourne Options and Futures Exchange Trading Department and MOFEX TECH shows our dedication to searching for other methods to attract liquidity and meet the needs of our clients with versatile, open and cost-effective products,” said Jiang Dao Lee, Head of MOFEX Trading Department. “By giving a solution in a secure environment, we can address concerns such as Internet speed requirements, procurement, maintaining market data infrastructure and connectivity so that our clients can spend more of their time focusing on their core competencies”, completed Mr. Dao Lee.

About MOFEX
The Melbourne Options and Futures Exchange (MOFEX) is a leading multi-product commodity and currency derivatives exchange.

Via EPR Network
More Financial press releases

Assets, Business, Commodities, Financial, Financial Information, Financial Services, Investment, Money, Trading

MOFEX Names Arthur Hatch to Head Team as Director of Services

MOFEX, one of the world`s most diverse marketplace announced that it has appointed Arthur Hatch, as an executive with over two decades of industry experience, to its team as Director of Services. Arthur Hatch will report to William Cornell, the Managing Director. Arthur Hatch will be in charge for heading the growth, enactment and management of MOFEX interest rate, derivatives, swaps and other product lines. He previously served as Managing Director for a leading Asian banking corporation. “MOFEX proceeds to expand its business and client base all over the world, with our extensive suite of financial products,” said MOFEX C.E.O Peter Cole. “Arthur Hatch’s addition to our executive team, along other key personnel who leads our commodity trading department, and William Hudson who leads our OTC Trading Department, will further enhance the capabilities of our team as we continue to successfully enact our global growth strategy.”

“Our global sales force continues to focus on providing innovative products and clearing services, as well as outstanding customer service, to market participants worldwide,” exclaimed Mr. Hatch. “William`s experience growing MOFEX volumes of almost twice the previous figures calculated, as well as his expertise enhancing our team and our product offering as one of the largest regulated marketplace in the Asia – Pacific, will be of incredible advantage to us, as we expand our on-MOFEX and OTC offerings in our interest rates, credit swaps and other business lines.” Prior to joining MOFEX, Arthur Hatch, acquired nearly two decades’ worth of experience in the global market, most recently as Managing Director, for a leading banking corporation where he was tasked with the development and management of the product platform, trading, technology and structured products offering in the company’s futures options business.

Via EPR Network
More Financial press releases

Business, Commodities, Financial, Financial Information, Financial Services, Investment, Money, Trading

Business Monitor International Highlights Myanmar’s Most Promising Investment Sectors

Business Monitor International (BMI) has released the latest special report “Myanmar Awakens: Unearthing Asia’s Hidden Gem” analysing Myanmar’s recent rapprochement with the West and its promising signs of political and economic liberalisation.

The recent by-election results appear to mark a watershed moment in the country’s recent reform drive, with positive implications for both the political system and the state’s improving relationship with the international community. The impact on Myanmar’s investment prospects will be closely watched, with investors particularly interested in whether or not EU and US economic sanctions will be lifted. According to BMI, Myanmar (formerly known as Burma) has a history of poor market accessibility and many hope that the country will now emulate the success of countries such as Thailand and Vietnam, fuelled by hopes that the country is finally emerging from decades of isolation to join the ranks of Asia’s economic powerhouses.

While a timetable is still hard to pin down, sanctions are expected to be drawn down incrementally over the course of the coming year. The report recognises key political and geopolitical factors that will drive or constrain Myanmar’s reforms for the changing nation and identify the challenges faced by investors as a result of Myanmar’s business environment.

“Myanmar Awakens: Unearthing Asia’s Hidden Gem” assesses the ‘new era’ in sight and as seen in other resource-rich frontier markets, BMI expects a number of key sectors to dominate investor attention in the short to long term, should there be a relaxation of the US and EU economic sanctions.

BMI’s portfolio of products provides comprehensive analysis across emerging market economies and enables global investors, emerging market strategists and decision-makers across the corporate spectrum to assess and evaluate global political and economic risks and aid strategic planning activities over the short, medium and long term.

Via EPR Network
More Financial press releases

Business, Financial, Financial Services, Financial Solutions, Money

Marston’s Inns Selects SecureTrading To Improve Online Booking Experience

Marston’s Inns, part of Marston’s Plc has selected SecureTrading, the UK’s leading independent payment processor, to manage its online customer accommodation booking, which will lead to a raft of business improvements.

Using SecureTrading’s payment services, Marston’s can manage its web operations in house and monitor reservations more closely, while the system enables customers to take advantage of promotions on a pre-booked basis.

Jemma Milton, Digital Manager at Marston’s Plc, said: “As well as offering full PCI-compliance, it was important for the payment gateway to keep customers on our website to underline our professional service and brand. Thanks to SecureTrading, we can now measure occupancy rates as a result of our stronger value driven offers.”

Marston’s had previously used third party websites to process payments but SecureTrading’s system integrates fully with the existing website, ensuring customers stay in contact with the brand throughout the secure payment transaction and take advantage of offers such as discounts on
meals. SecureTrading’s enhanced payment gateway enables Marston’s to react to customer ‘no-shows’ more promptly and operate efficiently.

Tim Allitt, Head of Sales and Marketing at SecureTrading, comments: “Marston’s has an impressive pedigree and we are delighted to provide its payment gateway. Our secure system enables Marston’s to get closer to its customers and analyse
reservation data.”

A recent trading statement reported that Marston’s had enjoyed a like-for-like sales increase in the 23 weeks to 10th March of 3.5%.

Via EPR Network
More Financial press releases