FIS to Buy SunGard from Private Equity Owners for $9.1 Billion – Wall Street Journal (subscription)
Fidelity National Information Services agreed to buy SunGard for $5.1 billion in cash and stock, a decade after a group of private-equity firms acquired the financial software company in one of the signature deals of the buyout boom that preceded the financial crisis. The deal will end plans by SunGard’s owners to take it public.
BlueCrest Capital Management Named in Libor-Rigging Lawsuit – Profit & Loss
BlueCrest Capital Management is being sued by a group of investment firms over claims an employee at the firm conspired with banks to rig the Swiss franc Libor rate.
SGX Sets USD/CNH Futures Trading Record after Yuan Devaluation – LeapRate
The People’s Bank of China move to sharply cut the Chinese renminbi (RMB) daily reference rate has bolstered trading activity in SGX USD/CNH Futures, with a new record high of 6,177 contracts (US$618 million in notional value) traded on August 12 2015.
ITG Hid a Secret Trading Desk in Its Dark Pool – Bloomberg
The financial industry is built on top of many overlapping complex systems of regulation, so it is not always easy to know what’s legal and what isn’t. But the financial industry is also built on the dream of making money for nothing, of arbitrage, of perpetual motion machines, of converting intellect into cash without the annoying interventions of hard work and risk.
Nomura Said to Cut 60 Jobs in London Focused on Fixed Income – Bloomberg
Nomura Holdings is cutting about 60 fixed income and credit derivative positions at its global markets operation in London.
UBS Appoints New Roles in FX, Rates, Credit Group – Reuters
Swiss bank UBS said on Wednesday it appointed new roles in its foreign exchange, interest rates and credit (FRC) business with Dylan Roy to head of the group’s Americas division.
Portware Hires Matsko to Head FX Trading Services – Profit & Loss
Portware, has appointed FX industry veteran Christopher Matsko as its head of foreign exchange trading services. Matsko previously held senior sales roles at 360T, FXall, Associated Foreign Exchange and Capital Markets Services.