Investment Bank Ubs To Outsource Fixed Income Trading Platform

Credit: Reuters/Arnd Wiegmann (Reuters) – Swiss bank UBS (UBSN.VX) will begin outsourcing its fixed income trading platform to two technology groups in an attempt to save costs, a source told Reuters. UBS declined to comment. French trading software firm Murex and Ion Trading have been finalized to handle bookings and electronic exchange gateways, the source said. The combination of a regulatory drive to make markets less risky, a reduction in banks trading for their own account and the end of a 30-year bull market in fixed income is forcing all banks to rethink their operations and, in most cases, shrink. Europe’s leading investment banks took a trading revenue battering in the third quarter last year that gives a glimpse into the upheaval facing the industry as a whole. Fixed Income, Currencies and Commodities units are particularly vulnerable to the sweep of regulatory change to make markets more transparent and banks take less risk, in a bid to prevent another financial crisis.
Source: http://www.reuters.com/article/2014/01/19/us-ubs-outsourcing-idUSBREA0I0GW20140119

At 10:00 a.m.; the stock was trading 1.4 per cent lower at Rs 562.10. SAIL: Steel Authority of India, one of India’s largest employers, is planning to trim its workforce by nearly 10% in 2014-15. At 10:00 a.m.; the stock was trading 0.6 per cent higher at Rs 68.25. Coal India Ltd: Coal India Ltd could have helped power companies save their production cost by 12%, or 35 paise a unit, if it had kept coal prices lower by using the money that it would pay as interim dividend, power sector executives said. At 10:00 a.m.; the stock was trading 0.9 per cent higher at Rs 276.25. MindTree Ltd: For the December quarter, the Bangalore-based firm posted a net profit of $14.2 million, a 31.5% drop from the preceding quarter.
Source: http://articles.economictimes.indiatimes.com/2014-01-17/news/46301348_1_jet-airways-ltd-tata-motors-ltd-tcs-ltd

Insider Trading Law Can’t Handle Nest and Nestor

With 24.9 seconds left in the game, Rubio coughed up the ball again with the shot clock winding down, which set up Gerald Greens game-winner following a Phoenix timeout. The Spaniard does a lot of things well, but he cant shoot and he becomes too predictable in half-court sets because hes always looking to set up teammates. Great point guards, like Stephen Curry and Ty Lawson , keep defenses on their toes because they can set up teammates and score in bunches. Why are those two guys used in the example specifically? Well, because the Timberwolves could have had either one in the 2009 NBA draft. In 2009, Minnesota drafted three point guards with its three first-round picks: Rubio at No.
Source: http://bleacherreport.com/articles/1927731-should-minnesota-timberwolves-consider-trading-ricky-rubio

UBS to outsource fixed income trading platform

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Source: http://www.ft.com/cms/s/0/dd8f6818-79ea-11e3-a3e6-00144feabdc0.html

EU Weighs Ban on Proprietary Trading at Some Banks From 2018

A new cohort of lawmakers will enter the EU assembly in July following May elections. So Late I see no point in bringing it out now, Sharon Bowles , chairwoman of the parliaments economic and monetary affairs committee, said in an e-mail. Realistically I think the commission needs to hold back on this and consult again when there is a new commissioner. Its a great shame that it is so late — it means it will not be examined by the MEPs that have worked on these and related issues in this mandate. Barnier intends to unveil his plans by the end of this month, Chantal Hughes , his spokeswoman, said in an e-mail, while declining to comment on the content of the proposals. The measures would need to be adopted by the parliament and national governments to become law.
Source: http://www.bloomberg.com/news/2014-01-16/eu-weighs-ban-on-proprietary-trading-at-biggest-banks-from-2018.html

Should Minnesota Timberwolves Consider Trading Ricky Rubio?

While I dont have any desire to start watching 12-year-olds fight each other in a cage, I welcome the prospect of more MMA on television. Its still a fringe sport in many respects. If multiple organizations find success, Fighters will have more opportunities, but the sport as a whole will grow. It seems like a win for everyone involved.
Source: http://mmajunkie.com/2014/01/trading-shots-is-there-a-place-for-wsofs-brand-of-low-impact-mma/

Bond trading stings Goldman, Citi in fourth quarter

There are fun nuances here . 4 I can’t find any case law on it. (And I’ve asked Twitter! And Google. It’s practically legal research, I’ll send you the bill.) I imagine that in some cases it could be material. If you knew that China was launching an investigation of Nu Skin, you might short Herbalife, and that link is so clear that a court might find it material.
Source: http://www.bloomberg.com/news/2014-01-16/insider-trading-law-can-t-handle-nest-and-nestor.html

Trading Shots: Is there a place for WSOF’s brand of ‘low-impact’ MMA?

Others, such as Morgan Stanley, are relying more heavily on units such as wealth management for growth and as a source of steady revenues. That business is expected to be a bright spot for Morgan Stanley, when it reports fourth-quarter results on Friday. But consultants and bankers said many on Wall Street are still refraining from cutting their trading operations. They are waiting to see which rivals scale back.
Source: http://www.reuters.com/article/2014/01/17/us-goldman-citigroup-results-idUSBREA0F1JR20140117?feedType=RSS

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