MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
The service is the first Asian dark pool that serves clients on both the buy- and sell-side. It is an anonymous crossing network, which allows buyers and sellers to perform their trades without the order information becoming public, thereby helping to reduce the negative price impact typically associated with block trades.
Since its launch, more than 75 companies have signed up to use the platform and there has been liquidity in 356 different stocks. The average size of a cross has been $1.15 million.
ôThere is clearly a demand for this type of service in Asia. Dark pools have become an essential part of trading strategy in the US and Europe and we are excited to be one of the first dark pools in Asia,ö says Ned Philips, BlocSecÆs CEO.
Investors can connect via their order management system, such as Bloomberg or the BlocSec website. Orders must be firm orders of at least $1 million. There are a number of ways that orders can be crossed: at the mid-point, passive or aggressive, or at a full-day volume weighted average price.
Financials and healthcare have been spotted as promising sectors, while several tech IPOs are on the way, including a $2.2 billion fintech firm and a GIC-backed e-commerce startup.
A strong recovery in the Asia Pacific private capital markets in 2021 sets up favourable hiring and compensation trends.
The $95 billion Korean savings will set up a separately managed account for real estate debt investment early next year in order to shorten decision-making and help it win deals in a crowded market.
The fund's 29.6% returns marked its best ever and exceeded its reference portfolio, which has 80% allocated to equities, by 1.73%.