As trading across multiple asset classes increases, operating in silos is no longer
an effective strategy for optimizing operations, mitigating risk and capitalizing
on market opportunities. In less than ten years, multi-asset class trading has exploded, as buy- and sell-side firms utilize an increasingly broad array of investment strategies to improve performance and exceed their peers. This diversification has occurred across both asset segments and geographies, as financial firms seek out new opportunities for growth.
In a decade of low interest rates, regulatory change and cost-reduction mandates, the growth in trading of alternative assets has been a response by many firms, including those in traditional equities and debt markets, to improve returns. This is also reflected, for example, in the quadrupling volume of futures and options contracts traded from 2003 to 2011.
The Multi-Asset Class Conundrum: Solving Post-Trade Complexities Across Busin...Broadridge
As trading across multiple asset classes increases, operating in silos is no longer an effective strategy for optimizing post-trade efficiency, mitigating risk and capitalizing on market opportunities. This paper uncovers how leading firms are consolidating their operations, data and technology infrastructures to create a center of excellence for multi-asset post-trade processing.
Value chain methodology: Potential use by the Ethiopian Livestock Feed (ELF) ...ILRI
Presented by Getachew Legese (EIAR) at the inception meeting for the ‘Fodder and feed in livestock value chains in Ethiopia’ project, ILRI, Addis Ababa, 21-22 February 2012
Next Generation Integrated Treasury and Trading for Energy and Commodity Comp...CTRM Center
Energy producers, traders and consumers today face a challenging trading environment with more regulatory oversight, lower prices, increasing costs and almost constant volatility. As a result forward thinking energy companies are already adopting a more closely integrated treasury and trading approach, a potentially overlooked opportunity by many. Typically, trading and treasury are separate areas of business with limited or no integration between them. The traders work to sell commodities at the best price or to profit from trading, while the treasury function with its concern over available cash, navigating future investments and doing so in the right currency and at the right location, has a range of responsibilities, including FX and IR hedging, broader credit management, debt and capital management and more. Usually, the treasury department gets a fixed time view of trading positions to work with and can miss opportunities to protect profits or control costs as a result as these exposures change rapidly. Even large oil and gas majors have experienced the situation where trading has a good month but FX rates moved against them to give an entirely different result. Despite believing that they were hedged, FX markets went against the company leaving it with significantly eroded traded profits.
The Multi-Asset Class Conundrum: Solving Post-Trade Complexities Across Busin...Broadridge
As trading across multiple asset classes increases, operating in silos is no longer an effective strategy for optimizing post-trade efficiency, mitigating risk and capitalizing on market opportunities. This paper uncovers how leading firms are consolidating their operations, data and technology infrastructures to create a center of excellence for multi-asset post-trade processing.
Value chain methodology: Potential use by the Ethiopian Livestock Feed (ELF) ...ILRI
Presented by Getachew Legese (EIAR) at the inception meeting for the ‘Fodder and feed in livestock value chains in Ethiopia’ project, ILRI, Addis Ababa, 21-22 February 2012
Next Generation Integrated Treasury and Trading for Energy and Commodity Comp...CTRM Center
Energy producers, traders and consumers today face a challenging trading environment with more regulatory oversight, lower prices, increasing costs and almost constant volatility. As a result forward thinking energy companies are already adopting a more closely integrated treasury and trading approach, a potentially overlooked opportunity by many. Typically, trading and treasury are separate areas of business with limited or no integration between them. The traders work to sell commodities at the best price or to profit from trading, while the treasury function with its concern over available cash, navigating future investments and doing so in the right currency and at the right location, has a range of responsibilities, including FX and IR hedging, broader credit management, debt and capital management and more. Usually, the treasury department gets a fixed time view of trading positions to work with and can miss opportunities to protect profits or control costs as a result as these exposures change rapidly. Even large oil and gas majors have experienced the situation where trading has a good month but FX rates moved against them to give an entirely different result. Despite believing that they were hedged, FX markets went against the company leaving it with significantly eroded traded profits.
SUPPLY CHAIN FINANCE IN THE CONTEXT OF WORKING CAPITAL MANAGEMENTIgor Zax (Zaks)
Igor Zax, Managing Director of Tenzor Ltd., published a special report, Supply Chain Finance in the Context of Working Capital Management .
The report, published in conjunction with BCR Publishing, covers industry structure, risk management, financing and operational aspects, the way companies viewed the product, as well as trade offs between dynamic discounting and supply chain finance products.
Of our days, with the opening of borders, the companies compete very aggressive for the flow of their products in a market, where only the companies well organized can afford a good share of the market. The survival of such and such company necessarily passes through the improvement of performance and competitiveness of organizations in general, and small and medium-sized enterprises (SMES) in particular. It is in this perspective that the establishment of the platform of the supply chain management can provide considerable benefits to SMES on their competitors
Supplier Relationship Management (SRM) Research 2012-2013salleijn
Over the last twelve years that we have conducted the Supplier Relationship Management (SRM) Survey, the market for SRM has steadily grown and companies continue today to invest in these critical applications. The growth in this market is a testament to the importance of this survey.
In addition to an overview of the major players in the market, the vendor survey shares the experiences, issues and questions that we see daily as procurement professionals implementing and optimizing SRM. Within the document, our expert colleagues share their views and experiences on SRM, resulting in cutting-edge opinion that offers a unique perspective on different facets of SRM. Major themes include the Seven Strategies for Future Procurement, Procurement and Sustainability, Usability and Demand Management, Supply Chain Finance and Procurement and Innovation.
Furthermore, the reader can find vendor profiles describing the participating vendors in greater detail. The descriptions cover information related to their specialization, the total scope of their offering, their distinguishing characteristics compared to competitors, the types of solutions offered (SaaS/In-house etc.), implementations and markets targeted.
Source-to-Pay: Advancing from Pure Cost Optimization to Value GenerationCognizant
The majority of businesses treat their sourcing, procurement and payment (S2P) processes as non-core functions. As a result, S2P does not receive the strategic or capital focus it deserves. By employing Cognizant's S2P Transformation Framework, global businesses can transform their S2P function from a mere support activity to a strategic business enabler that helps eliminate bottom-line erosion, increase competitive strength, and maintain the loyalty of customers and suppliers alike.
Capital market firms are making decisions on which business lines, asset classes and services to keep and operate and which ones to exit. Regulatory reform and the
clearing mandate are driving the firms to consolidate their traditional exchangetraded derivatives (Futures and Options) and OTC derivatives into a single clearing
business, even while bi-lateral, uncleared derivatives will continue to co-exist with cleared products.
Rethinking Reconciliation: How a Global Center of Excellence Can Enhance Risk...Broadridge
In two years, outsourced reconciliation solutions have grown exponentially as increased focus on risk, regulations, and cost reduction has heightened the need for greater transparency and efficiency across all areas of financial services operations. Discover how leading financial institutions are enhancing risk management and reducing costs through a global center of excellence for reconciliations.
Financial Due Diligence via Operational Perspective | Co-Authors Steve Koinis...Tom Atwood
Having diverse subject matter expertise on hand can benefit Deal Teams - starting at indication of interest (IOI), to diligence, and all the way to post-close value creation.
SUPPLY CHAIN FINANCE IN THE CONTEXT OF WORKING CAPITAL MANAGEMENTIgor Zax (Zaks)
Igor Zax, Managing Director of Tenzor Ltd., published a special report, Supply Chain Finance in the Context of Working Capital Management .
The report, published in conjunction with BCR Publishing, covers industry structure, risk management, financing and operational aspects, the way companies viewed the product, as well as trade offs between dynamic discounting and supply chain finance products.
Of our days, with the opening of borders, the companies compete very aggressive for the flow of their products in a market, where only the companies well organized can afford a good share of the market. The survival of such and such company necessarily passes through the improvement of performance and competitiveness of organizations in general, and small and medium-sized enterprises (SMES) in particular. It is in this perspective that the establishment of the platform of the supply chain management can provide considerable benefits to SMES on their competitors
Supplier Relationship Management (SRM) Research 2012-2013salleijn
Over the last twelve years that we have conducted the Supplier Relationship Management (SRM) Survey, the market for SRM has steadily grown and companies continue today to invest in these critical applications. The growth in this market is a testament to the importance of this survey.
In addition to an overview of the major players in the market, the vendor survey shares the experiences, issues and questions that we see daily as procurement professionals implementing and optimizing SRM. Within the document, our expert colleagues share their views and experiences on SRM, resulting in cutting-edge opinion that offers a unique perspective on different facets of SRM. Major themes include the Seven Strategies for Future Procurement, Procurement and Sustainability, Usability and Demand Management, Supply Chain Finance and Procurement and Innovation.
Furthermore, the reader can find vendor profiles describing the participating vendors in greater detail. The descriptions cover information related to their specialization, the total scope of their offering, their distinguishing characteristics compared to competitors, the types of solutions offered (SaaS/In-house etc.), implementations and markets targeted.
Source-to-Pay: Advancing from Pure Cost Optimization to Value GenerationCognizant
The majority of businesses treat their sourcing, procurement and payment (S2P) processes as non-core functions. As a result, S2P does not receive the strategic or capital focus it deserves. By employing Cognizant's S2P Transformation Framework, global businesses can transform their S2P function from a mere support activity to a strategic business enabler that helps eliminate bottom-line erosion, increase competitive strength, and maintain the loyalty of customers and suppliers alike.
Capital market firms are making decisions on which business lines, asset classes and services to keep and operate and which ones to exit. Regulatory reform and the
clearing mandate are driving the firms to consolidate their traditional exchangetraded derivatives (Futures and Options) and OTC derivatives into a single clearing
business, even while bi-lateral, uncleared derivatives will continue to co-exist with cleared products.
Rethinking Reconciliation: How a Global Center of Excellence Can Enhance Risk...Broadridge
In two years, outsourced reconciliation solutions have grown exponentially as increased focus on risk, regulations, and cost reduction has heightened the need for greater transparency and efficiency across all areas of financial services operations. Discover how leading financial institutions are enhancing risk management and reducing costs through a global center of excellence for reconciliations.
Financial Due Diligence via Operational Perspective | Co-Authors Steve Koinis...Tom Atwood
Having diverse subject matter expertise on hand can benefit Deal Teams - starting at indication of interest (IOI), to diligence, and all the way to post-close value creation.
Emerging Differentiators of a Successful Wealtlh Management PlatformCognizant
Changes in the wealth management industry are driving the need for a flexible, scalable platform that enables wealth managers to differentiate their services and profitably serve the mass affluent and mass markets.
The characteristics of most growth markets require companies to adapt both their go-to-market strategy and their operating model to address the ever-evolving consumer needs and segments within the limits of the country’s institutional voids and culture. Some companies have managed to overcome the Growth Markets’ voids they face by merely tweaking their existing operating model a fraction. However, most companies which are looking for longer term growth in these complex markets are finding that they need to make more far-reaching and bold changes to their operating models to bridge these voids which step away from the structured and efficient capabilities that have made them so successful in the developed markets.
Making Analytics Actionable for Financial Institutions (Part I of III)Cognizant
To maximize ROI from their analytics platforms, financial institutions must build solutions that explicitly, visibly and sustainably enable real-time translation of data into meaningful and continuous improvements in their products, services, operating models and supporting infrastructures.
Over the last several years, the phenomenal growth and expansion of wholesale commodity trading has begun to have a significant impact on both business practices and strategic thinking across commodity supply chains. Producers and processors of raw materials (commodities) and sellers of finished goods that rely heavily on commodity feed stocks have had to come to terms with a business environment of generally increasing and significantly more volatile prices for their raw materials. Despite some weakening in commodity prices on the back of a stronger dollar and increased supply recently, volatilities remain problematic and in the longer-term, prices will continue to increase as the global population continues to grow and as more of that population become consumers of goods.
B2B marketing services market landscape for CRM, SaaS implementation, call center, contact center, market research, Internet marketing and related B2B marketing agencies
The Importance of Real-Time Forward CurvesCTRM Center
The ability to manage and utilize accurate forward price curves has always been an important aspect of commodity trading and risk management -- indeed, it is at the very heart of price risk management. Despite this, the collection of price time series data and the creation, validation and maintenance of curves, has also always proven to be somewhat problematic – particularly in illiquid, thin and/or real-time markets.
Buy-Side firms are in constant need of adaption to the changing markets, Ever Increasing Regulations and increased Cost Pressures. This article highlights Emerging Technology Trends and potential for Asset Management firms to address some of the challenges through right Technology adaption
Value Study: Investing in ETRM / CTRM in Turbulent TimesCTRM Center
The only constant is change echoes an astute observation by the Greek philosopher, Heraclitus, some 2,500 years ago. Those of us who are engaged in the world of commodities are continually reminded of the accuracy of his observation, particularly recently, as commodity prices collapsed led by crude oil. In fact, our industry is continually impacted by changes in the regulatory environment, supply/demand balance, global economic environment, technology developments, political intervention and more.
Recently, BP noted in its annual Energy Outlook1, “Today’s turbulence is a return to business-as-usual. Continuous change is the norm in our industry. The energy mix changes. The balance of demand shifts. New sources of energy emerge, such as shale gas, tight oil, ultra-deepwater oil or renewables. Economies expand and contract. Energy production and consumption are affected by disruptions, from wars to extreme weather. New policies are created to address climate change or bolster energy security.“
Big Data in the Fund Industry: From Descriptive to Prescriptive Data AnalyticsBroadridge
NICSA’s Technology Committee, including Dan Cwenar, President, Access Data, Broadridge, offer perspectives on the “state of play” of Big Data in the fund industry:
The history of “ Big Data”
The definition of Big Data in the context of industry applications.
The movement from descriptive towards prescriptive analytics in driving decisions
Common misconceptions about the use of predictive analytics.
FATCA Compliance: Riding a Roller Coaster of Regulatory ChangeBroadridge
FATCA will impose new due diligence, withholding, and reporting requirements on financial institutions. This paper outlines the significant regulatory change FATCA brings to provide the IRS with an increased ability to detect U.S. tax evaders—specifically, those among U.S. “persons” (individuals or entities) who maintain foreign accounts and investments either directly or indirectly, through their ownership in foreign entities.
A guide to help advisors understand the proposed Department of Labor changes to the fiduciary definition regulations.
The DOL’s proposed changes to the fiduciary definition regulations are causing financial advisors to re-examine their business models and to determine whether they may be a fiduciary to the plan and participants under the proposed regulations. These proposed changes will not only impact qualified retirement plans, but non-qualified plans too, such as IRAs. There could be major implications for how advisors will work with IRAs if these changes are implemented. This Practice Guide provides a framework to help advisors understand this issue by addressing the following questions:
What are the rules today?
What is being proposed?
How would some of the proposed changes impact an advisor’s practice?
Are there any action steps an advisor can take today in anticipation of the new rules?
The availability of electronic solutions, the regulatory framework within which to offer them and an increasing investor appetite for digital information has created new opportunities in investor communications. Today, companies can provide information to investors when, where, and how they want it – and that makes for more engaged investors.
That’s never been more important. as governance, transparency and accountability in capital markets become more closely scrutinized and more rigorously measured, engaging investors, encouraging voter participation and demonstrating leading communication practices is vital.
ERISA Fiduciary Issues: A Guide for AdvisorsBroadridge
The role, expectations and legal requirements for ERISA fiduciary advisors is changing. Plan sponsors are increasingly looking to retirement plan advisors for guidance. This brings potential business opportunities but also more regulatory scrutiny. This paper provides advisors with guidelines to understand the plan sponsor role as fiduciaries and the steps to take to avoid breaching their duties.
Managing Big Data: A Big Problem for BrokeragesBroadridge
Reliable mutual fund invoicing and analysis has been challenging the industry for years due to the regulatory environment and other factors, and in this report we explore key concerns, current approaches, and the way forward. Based on in-depth interviews with financial services executives, this paper uncovered the significance of a data management and analytical challenge facing brokerages, which has led to lost revenue, increased compliance and reputational risk, and lost sales opportunities.
Fee and Commission Management in Global MarketsBroadridge
Look at key trends, challenges and solutions in fee and commission management. The challenge for any global financial institution is the sheer complexity and number of relationships and fees. The ongoing financial crisis has intensified the need for transparency and risk reduction. Explore the potential benefits of automation of commission and fees management and consider ways to quantify costs savings and other gains.
Global Investing: Considerations for Building an End-to-End SolutionBroadridge
US clients are missing out on 90% of the world’s investment opportunities. Traditionally, firms have faced cost, complexity, and time-to-market hurdles when considering how to offer foreign securities to their clients. The paper defines the critical capabilities brokerage firms need to support international investing and provides best practices and a questionnaire to help design a roadmap for global expansion.
The New Hedge Fund-Prime Broker RelationshipBroadridge
The financial crisis has changed the relationship between hedge funds and prime brokers. With the default of some leading providers, funds have realized that they should diversify their prime broker relationships and require more transparency on operational processes of prime providers. However, as the funds industry regains momentum, they are looking to their prime brokers to provide services that will support business expansion. Hence, prime brokers need to adapt their offering and IT infrastructure to respond to the changing market.
Transforming Customer Engagements in a Digital WorldBroadridge
Financial services companies must adapt to new communications channels as customers are more connected than ever and expect companies they do business with to cater to their preferences. Businesses must move beyond focusing on marketing channels as silos and now consider how channels and devices need to connect across the full customer experience.
Broker-Dealer Outsourcing: Key Regulatory Issues and Strategies for ComplianceBroadridge
Due to the efficiencies and economics of outsourcing, broker-dealers are relying more and more on outsourcing for a broader range of tasks. However, because of new and stricter regulations, outsourcing presents ever-growing compliance and oversight challenges. This paper explores how to retain regulatory controls while gaining the maximum benefit from outsourcing.