Financial Markets
Top stories summarized by our editors
3/21/2019

A no-deal Brexit would see the UK crash out of the EU Emissions Trading System, which could decrease prices. London-based ICE Futures Europe is the largest exchange handling carbon contracts.

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ICE Futures, EU
3/21/2019

Derivatives traders are seeking clarification of initial-margin compliance requirements for about 800 buy-side firms in light of regulators' decision to absolve Phase 4 and Phase 5 entities of the documentation burden.

3/21/2019

Carla Stent has been selected as the first chairwoman of commodity broker Marex Spectron. Stent is a former chief operating officer at Virgin Group and a former executive at Barclays.

3/21/2019

Asset managers are resisting use of algorithms as the industry is dragged "kicking and screaming" into quantitative trading, Man Group Chief Investment Officer Sandy Rattray says. Some firms are adopting natural language processing and are hiring scientists, Rattray says, but asset managers who ignore technological advancement face irrelevance.

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Sandy Rattray
3/21/2019

Enterprise Products Partners and CME Group will partner to hold a second electronic auction for crude exports April 4. The auction will take bids for West Texas Intermediate light sweet crude oil exported from Enterprise's Houston terminal.

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Reuters
3/21/2019

Fastly, a startup that makes cloud software, has selected Bank of America to serve as lead underwriter for an initial public offering expected later this year, sources say. The IPO reportedly could give the company a valuation of more than $1 billion.

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Reuters
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Bank of America
3/21/2019

Point, a startup that makes equity-based loans to homeowners and homebuyers, raised $122 million in a funding round that included investments from Prudential Financial and Bloomberg Beta. The fresh capital will fund expansion into more than 30 states.

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VentureBeat
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Prudential Financial, Bloomberg
3/21/2019

Guesty, a property-management platform tailored to the needs of short-term rental landlords, raised $35 million in a recent funding round. With the additional capital, it will continue development of its products and will open new offices in what it sees as key growth markets.

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VentureBeat
3/21/2019

Skedulo, a startup that developed cloud-based technology to help companies manage mobile employees, recently raised $28 million. The money will fund several initiatives, including the incorporation of analytics and machine learning features into the Skedulo system.

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VentureBeat
3/21/2019

NS8, a startup developing online fraud prevention products using the software-as-a-service model, raised $26 million in a recent funding round. The capital will allow the startup to expand in several areas, including channel development and product innovation, CEO Adam Rogas said.

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VentureBeat