Brian Bollen's Blog

ECB approves major projects

The Governing Council of the European Central Bank (ECB) has approved the consolidation of the Eurosystem’s real-time gross settlement system TARGET2 and the securities settlement platform TARGET2-Securities (T2S), and the development of a Eurosystem Collateral Management System. It says both projects will modernise existing systems and increase overall efficiency.

To 2018 and beyond!

Mint - Blain’s Morning Porridge

For the avoidance of doubt – the Morning Porridge is unrestricted market commentary freely available to all qualified investors on an unsolicited basis. It is not investment advice…

I do apologise for the irregularity of the Morning Porridge this month – lots going on, lots of folk to see, and lots of commentary requests. Full and normal service will resume in the New Year, and next week I’ll be focusing on some 2018 outlook Porridge notes – unless of course something terrible exciting happens. Which is why I’ve primed the home PC for action over the festive break! 

Fear of the unknown among institutional investors

Liquidity from electronic market makers has become an integral part of the US equity market, but the firms that deliver it remain largely unknown to many institutional investors whose trades often involve these little-understood firms. This opacity has created a level of fear among investors about the quality and reliability of electronic market makers.

ASX to quit CHESS

ASX, the linchpin of Australia's financial markets, has today announced its intention to replace CHESS using distributed ledger technology (DLT) developed by its technology partner Digital Asset (DA).

CSD Prague opens direct account in Euroclear Bank

CSD Prague says it has opened a direct account in Euroclear Bank SA/NV.

Swiss payments harmonisation: banks finish ISO 20022 migration

No fewer than 208 banks in Switzerland have completed the migration to the new ISO 20022 technology standard on schedule.

Brian Blessed: Absolute Pandemonium

Am currently reading Absolute Pandemonium, a memoir by Brian Blessed, who played Fancy Smith in Z-Cars, Augustus Caesar in I, Claudius and Vultan, leader of the Hawkmen, in Flash Gordon.

It's very enjoyable

Axioma names Ian Lumb MD Risk

Axioma, a provider of enterprise risk management, portfolio management, and regulatory reporting solutions, reports the appointment of Ian Lumb as managing director, head of risk solutions. It says this is a newly created position. Lumb was previously Global Head of UBS Delta, the portfolio analysis and risk management system recently acquired by StatPro.

Ahold Pensioenfonds selects BNP Paribas Securities Services

BNP Paribas Securities Services has been appointed to provide global custody and value added services to Ahold Pensioenfonds, the €4.5bn pension fund of Ahold Delhaize, the Netherlands’ leading food retailer. 
The mandate covers custody, investment accounting, investment compliance, regulatory reporting, performance measurement and risk reporting and is effective from January 1 2018. 

John de Waal, Senior Director Finance & Risk of Ahold Pensioenfonds, said: “After an extensive selection process we selected BNP Paribas Securities Services as our new custodian. BNP Paribas Securities Services offers local services tailored to our needs and requirements, supported by a solid global custody organisation. Together with BNP Paribas Securities Services we will be able to further improve our performance and risk reporting.” 

BNP Paribas Securities Services says this marks another milestone in its development of in the Netherlands. Earlier this year, the bank acquired a full-service local asset administration platform and a team of more than 50 specialists, which significantly increased its existing local expertise and capacity in the country. 

I want a yacht

Mint - Blain’s Morning Porridge

I want a yacht and really that’s not a lot, been an angel all year…!

For the avoidance of doubt – the Morning Porridge is unrestricted market commentary freely available to all qualified investors on an unsolicited basis. It is not investment advice…

For Foreign Readers of the Morning Porridge struggling to understand what on earth is going on in UK politics.. don’t worry. This is normal.

Something for the weekend

Chris Iggo, chief investment officer, Fixed Income, AXA Investment Managers, offers a highly readable investment commentary to ponder over the weekend.

In brief, he covers Crypto-mania, high returns, low volatility, extremes, but the economy is strong, strong, strong and yield will not equal return

Allfunds achieves €350bn global AuA milestone

Allfunds Bank, which bills itself as Europe´s largest fund platform, says it has achieved a new milestone by passing €350bn assets under administration (AuA) globally, an increase of €100bn year-to-date thanks to its efforts in the digital space and expansion of products available on the platform.  

Citi appointed by EntrepreneurShares

Citi reports from New York that it has been appointed by EntrepreneurShares to provide full exchange-traded fund (ETF) services including fund accounting and administration, custody, and transfer agency for its inaugural ETF fund (www.brianbollen.com).

Graves joins CIBC Mellon

CIBC Mellon reports that Bill Graves has joined the company as Chief Technology and Data Officer. This newly created role is designed to further strengthen CIBC Mellon's ability to meet clients' evolving needs as the industry drives forward into a new era of data, technology enablement and cyber security.

New NZ Super Fund role for Hart

The NZ Super Fund has appointed Del Hart as head of external investments and partnerships, replacing Fiona Mackenzie.

The role has responsibility for the NZ Super Fund’s investment mandates with approximately 30 external managers, covering NZ$6.5bn of assets in listed and unlisted markets globally.

Prior to joining the Fund as a portfolio manager in 2010 Ms Hart worked for Russell Investments in New Zealand and Pictet Asset Management in London. She has also worked with Tower Managed Funds. She will report to Matt Whineray, chief investment officer, and sit on the fund’s investment committee.

A little fairy falls down dead

Mint - Blain’s Morning Porridge

Whenever a child says “I don’t believe in fairies”, there’s a little fairy somewhere that falls right down dead…

For the avoidance of doubt – the Morning Porridge is unrestricted market commentary freely available to all qualified investors on an unsolicited basis. It is not investment advice…

Interesting day’s play in prospect as US tax reform sees the wheel coming loose on the final lap… will they, won’t they make it across the line later today? It's complex procedural stuff you can read all about on the wires, but the likelihood is the gains we’ve made over recent days in anticipation of a massive tax giveaway to US corporates might just have been premature.