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News Article | May 8, 2017
Site: www.acnnewswire.com

Colt PrizmNet Connects Three of the Top Five US Brokers Colt's financial extranet reaches 75 providers; Growing range of services available - including MiFID II compliance solutions and cloud-based services The Colt PrizmNet financial extranet now connects three out of the five leading brokers* in US electronic equity trading. Colt is challenging the status quo with Colt PrizmNet, a financial extranet offering deterministic low latencies for delivering data, software, content and financial services worldwide. It provides connectivity to all major venues, ensuring best execution and visibility into global markets, and increasing algorithmic trading efficiency. Over the past year, Colt has expanded the pool of providers available on Colt PrizmNet from 50 to 75, including Ak Investment, Applied Blockchain, Cappitech, and Succession Systems. The Colt PrizmNet reach continues to expand to make it the logical financial extranet choice; with more than 100 providers being on boarded this year. The addition of key brokers to Colt PrizmNet provides connectivity to FIX/FAST execution gateways for order routing, management and execution. This simplifies access for trading firms to reach key liquidity centres and trading counterparties. The financial extranet will also enable clients to reach content hosted in, or being migrated to, the public cloud. Moreover, Colt PrizmNet provides access to a growing ecosystem of MiFID II compliance providers, including TRADEcho/Boat and Aquis Exchange. This combination of services means that Colt PrizmNet offers unparalleled connectivity to the world's capital markets that is scalable and future-proof. Andrew Housden, VP of Capital Markets at Colt, said, "Colt continues to put customer service at the heart of its business; we mean it, live it and make it the focus of everything we do. The overall customer experience in the financial services sector has not kept pace with changing requirements brought on by cloud services and regulatory demands, so many clients now look to Colt to help with their global technology challenges. We have recently doubled the size of our Capital Markets team in New York as well as making significant expansions in Europe and Asia. This means we now have both the product portfolio and service delivery capability to meet most network infrastructure requirements." Colt PrizmNet offers simplified access to multiple venues and providers and full control of services using an advanced online portal. The financial extranet connects a global capital markets ecosystem of 75+ exchanges, venues and service providers; and 10,000+ participants. It provides firms with efficient access to solutions to their trading and compliance challenges, including: - Successions Systems - supporting market access compliance "We like that Colt goes the extra mile to create an informed community around its financial extranet through a keen understanding of vendors, their services and market participants' priorities. We expect our partnership will help Colt PrizmNet to make further inroads into the North American market, as well as simplify connectivity to our solutions for firms in Europe. We also anticipate that Colt PrizmNet's strong presence in Asia will help us attract new customers in that region," said Anthony Masso, President and CEO, Succession Systems. - Cappitech - simplifying MiFID II and EMIR reporting "At Cappitech we are seeing growing interest from financial firms looking towards cloud solutions to increase operational efficiency. However, client and trade data security is still a major concern when deploying products in the cloud. We are excited to be integrating Capptivate within Colt PrizmNet and implementing with them a unique and secure instance of our solution within AWS to meet the demands of the financial industry," said Ron Finberg, Business Development Manager, Cappitech. - Applied Blockchain - a blockchain solutions development and consulting firm "At Applied Blockchain we are building an ecosystem of blockchain applications for a range of enterprise clients. At its heart, blockchain is a network of trust that brings together disparate and often competitive companies onto a single shared network. Integrating the Applied Blockchain Mantle with Colt PrizmNet brings together the key benefits of blockchain technology with a world-class connectivity infrastructure to enable the secure, scalable and interoperable development of enterprise grade blockchain solutions that are ready for use within regulated markets," said Peter Bidewell, Chief Marketing Officer, Applied Blockchain. - Ak Investment (AK Yatirim) - Fast access to Borsa Istanbul with one of Turkey's largest brokerage houses "Our partnership with Colt PrizmNet gives connected clients the fastest access to Turkey's equities market from London. It's an example of the value Colt PrizmNet brings to the capital markets ecosystem by expanding trading opportunities and connectivity solutions. The PrizmNet team clearly understood our needs and priorities, and worked efficiently to ensure rapid implementation of our PoP at LD4," said Nazli Calik, Trading Assistant Manager, Ak Investment. For more information, please visit http://www.colt.net/product/financial-extranet/ or contact . *Greenwich Associates: Trading Slowdown Fuels Slowdown Among U.S. Equity Brokers http://bit.ly/2qI32P0 About Colt Colt provides high bandwidth services for enterprises and wholesale customers in Europe, Asia and North America's largest business hubs. Colt enables the digital transformation of businesses through its intelligent, purpose-built, cloud-integrated network, known as the Colt IQ Network. It connects over 700 data centres around the globe, with over 24,500 on-net buildings and growing. Colt is also recognised as an innovator and pioneer in software defined networks (SDN) and network function virtualisation (NFV). Colt has built its reputation on putting its customers first, with a focus on delivering true local presence and agility for enterprises that are global yet need local attention. Customers include data intensive organisations spanning over 200 connected cities in nearly 30 countries. Colt counts 19 of the top 25 global telecoms companies and 18 out of the top 25 global media companies (Forbes 2000 list, 2016) amongst its customers. In addition, Colt works with over 50 exchange venues and 13 European central banks. Owned by Fidelity Investments, Colt is one of the most financially sound companies in its industry, providing the best customer experience at a competitive price. For more information, please visit www.colt.net. Press Contacts: Paula Muezerie Marketing Lead, Capital Markets at Colt +44 (0)20 7947 1035 Think Alliance Group for Colt, Henry Chow Tel: +852 3978 5323 / E-mail: Matthew Schultz Tel: +852 3978 5321 / E-mail: Colt to Launch High-Bandwidth Services in Hong Kong by July 2017


News Article | May 8, 2017
Site: www.prnewswire.com

This will be a live, interactive online event where investors are invited to ask the company questions in real-time - both in the presentation hall as well as the association's "virtual trade booth." If attendees are not able to join the event live on the day of the conference, an on-demand archive will be available for 90 days. It is recommended that investors pre-register and run the online system check to save time and receive event updates. Learn more about the event at www.VirtualInvestorConferences.com. Established in 1946, Garanti Bank is Turkey's second largest private bank with consolidated assets of US$ 90.4 billion as of March 31, 2017. Garanti is an integrated financial services group operating in every segment of the banking sector including corporate, commercial, SME, payment systems, retail, private and investment banking together with its subsidiaries in pension and life insurance, leasing, factoring, brokerage, and asset management besides international subsidiaries in the Netherlands and Romania. As of March 31, 2017, Garanti provides a wide range of financial services to its more than 14.5 million customers with approximately 20 thousand employees through an extensive distribution network of 956 domestic branches; 7 foreign branches in Cyprus, one in Luxembourg and one in Malta; 3 international representative offices in London, Düsseldorf and Shanghai with 4,794 ATMs, an award-winning Call Center, internet, mobile and social banking platforms, all built on cutting-edge technological infrastructure. Moving forward to maintain sustainable growth by creating value to all its stakeholders, Garanti builds its strategy on the principles of always approaching its customers in a "transparent", "clear" and "responsible" manner, improving customer experience continuously by offering products and services that are tailored to their needs. Its competent and dynamic human resources, unique technological infrastructure, customer-centric service approach, innovative products and services offered with strict adherence to quality carry Garanti to a leading position in the Turkish banking sector. With its dynamic business model and superior technology integrated to its innovative products and services, Garanti continues to differentiate itself and facilitate the lives of its customers. Its custom-tailored solutions and wide product variety play a key role in reaching US$ 74.1 billion cash and non-cash loans. The high asset quality attained through advanced risk management systems and established risk culture place Garanti apart in the sector. Following the best practices in corporate governance, Garanti's majority shareholder is Banco Bilbao Vizcaya Argentaria S.A. (BBVA) with 49.85% share. Having shares publicly traded in Turkey, depositary receipts in the UK and the USA, Garanti has an actual free float of 50.07% in Borsa Istanbul as of March 31, 2017. Since 2010, VirtualInvestorConferences.com, created by BetterInvesting (NAIC) and PRNewswire, has been the only monthly virtual investor conference series that provides an interactive forum for presenting companies to meet directly with investors using a graphically-enhanced online platform. Designed to replicate the look and feel of location-based investor conferences, Virtual Investor Conferences unites PR Newswire's leading-edge online conferencing and investor communications capabilities with BetterInvesting's extensive retail investor audience network. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/garanti-bank-to-webcast-live-at-virtualinvestorconferencescom-may-11-300453013.html


Sensoy A.,Borsa Istanbul | Sensoy A.,Bilkent University | Yuksel S.,Borsa Istanbul | Erturk M.,Borsa Istanbul
Physica A: Statistical Mechanics and its Applications | Year: 2013

We analyze the cross-correlation matrix C of the index returns of the main financial markets after the 2008 crisis using methods of random matrix theory. We test the eigenvalues of C for universal properties of random matrices and find that the majority of the cross-correlation coefficients arise from randomness. We show that the eigenvector of the largest deviating eigenvalue of C represents a global market itself. We reveal that high volatility of financial markets is observed at the same times with high correlations between them which lowers the risk diversification potential even if one constructs a widely internationally diversified portfolio of stocks. We identify and compare the connection and cluster structure of markets before and after the crisis using minimal spanning and ultrametric hierarchical trees. We find that after the crisis, the co-movement degree of the markets increases. We also highlight the key financial markets of pre and post crisis using main centrality measures and analyze the changes. We repeat the study using rank correlation and compare the differences. Further implications are discussed. © 2013 Elsevier B.V. All rights reserved.


Sensoy A.,Borsa Istanbul | Sensoy A.,Bilkent University
Resources Policy | Year: 2013

We use a relatively new approach to endogenously detect the volatility shifts in the returns of four major precious metals (gold, silver, platinum and palladium) from 1999 to 2013. We reveal that the turbulent year of 2008 has no significant effect on volatility levels of gold and silver however causes an upward shift in the volatility levels of palladium and platinum. Using the consistent dynamic conditional correlations, we show that precious metals get strongly correlated with each other in the last decade which reduces the diversification benefits across them and indicates a convergence to a single asset class. We endogenously detect the shifts in these dynamic correlation levels and reveal uni-directional volatility shift contagions among precious metals. The results show that gold has a uni-directional volatility shift contagion effect on all other precious metals and silver has a similar effect on platinum and palladium. However, the latter two do not matter in terms of volatility shift contagion. Thus, investors that hedge with precious metals should, in particular, monitor the volatility levels of gold and silver. © 2013 Elsevier Ltd.


Sensoy A.,Borsa Istanbul | Sensoy A.,Bilkent University
Physica A: Statistical Mechanics and its Applications | Year: 2013

We study the time-varying efficiency of 15 Middle East and North African (MENA) stock markets by generalized Hurst exponent analysis of daily data with a rolling window technique. The study covers a time period of six years from January 2007 to December 2012. The results reveal that all MENA stock markets exhibit different degrees of long-range dependence varying over time and that the Arab Spring has had a negative effect on market efficiency in the region. The least inefficient market is found to be Turkey, followed by Israel, while the most inefficient markets are Iran, Tunisia, and UAE. Turkey and Israel show characteristics of developed financial markets. Reasons and implications are discussed. © 2013 Elsevier B.V. All rights reserved.


Sensoy A.,Borsa Istanbul
Physica A: Statistical Mechanics and its Applications | Year: 2015

During recent years, networks have proven to be an efficient way to characterize and investigate a wide range of complex financial systems. In this study, we first obtain the dynamic conditional correlations between filtered exchange rates (against US dollar) of several countries and introduce a time-varying threshold correlation level to define dynamic strong correlations between these exchange rates. Then, using evolving networks obtained from strong correlations, we propose an alternative approach to track the hot money in turbulent times. The approach is demonstrated for the time period including the financial turmoil of 2008. Other applications are also discussed. © 2014 Elsevier B.V. All rights reserved.


Sensoy A.,Borsa Istanbul | Hacihasanoglu E.,Borsa Istanbul
Energy Economics | Year: 2014

This study aims to investigate the presence of long-range dependence in energy futures markets. Using a daily dataset covering from 1990 to 2013 (which includes crucial events for energy markets such as invasion of Iraq and global financial crisis of 2008), we estimate time-varying generalized Hurst exponents of several energy futures contracts with different times to maturity using a rolling window approach. Results reveal that efficiency of energy futures markets is clearly time-varying and changes drastically over the sample period. For futures contracts with 1-4. months to maturities, crude oil and gasoline are found to be more efficient compared to others. On the other hand, for contracts with 5-9. months to maturities, crude oil and natural gas futures are more efficient. For almost every different month to maturity, heating oil and gas oil futures are found to be the least efficient markets. Moreover in general, the efficiency of energy futures markets is found to be decreasing dramatically when time to maturity is increasing. Several implications are discussed. © 2014 Elsevier B.V.


Sensoy A.,Borsa Istanbul | Tabak B.M.,Catholic University of Brasília
Physica A: Statistical Mechanics and its Applications | Year: 2014

This article proposes a new procedure to evaluate Asia Pacific stock market interconnections using a dynamic setting. Dynamic spanning trees (DST) are constructed using an ARMA-FIEGARCH-cDCC process. The main results show that: 1. the DST significantly shrinks over time; 2. Hong Kong is found to be the key financial market; 3. the DST has a significantly increased stability in the last few years; 4. the removal of the key player has two effects: there is no clear key market any longer and the stability of the DST significantly decreases. These results are important for the design of policies that help develop stock markets and for academics and practitioners. © 2014 Elsevier B.V. All rights reserved.


Erdem O.,Borsa Istanbul | Ceyhan E.,Koç University | Varli Y.,Borsa Istanbul
Physica A: Statistical Mechanics and its Applications | Year: 2014

The correlation in time series has received considerable attention in the literature. Its use has attained an important role in the social sciences and finance. For example, pair trading in finance is concerned with the correlation between stock prices, returns, etc. In general, Pearson's correlation coefficient is employed in these areas although it has many underlying assumptions which restrict its use. Here, we introduce a new correlation coefficient which takes into account the lag difference of data points. We investigate the properties of this new correlation coefficient. We demonstrate that it is more appropriate for showing the direction of the covariation of the two variables over time. We also compare the performance of the new correlation coefficient with Pearson's correlation coefficient and Detrended Cross-Correlation Analysis (DCCA) via simulated examples. © 2014 Elsevier B.V. All rights reserved.


Sensoy A.,Borsa Istanbul | Tabak B.M.,Brazilian National Council for Scientific and Technological Development | Tabak B.M.,Catholic University of Brasília
Physica A: Statistical Mechanics and its Applications | Year: 2015

This paper proposes a new efficiency index to model time-varying inefficiency in stock markets. We focus on European stock markets and show that they have different degrees of time-varying efficiency. We observe that the 2008 global financial crisis has an adverse effect on almost all EU stock markets. However, the Eurozone sovereign debt crisis has a significant adverse effect only on the markets in France, Spain and Greece. For the late members, joining EU does not have a uniform effect on stock market efficiency. Our results have important implications for policy makers, investors, risk managers and academics. © 2015 Elsevier B.V. All rights reserved.

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