A leading fund services provider is to switch its international fund trading platform to blockchain technology from May, in a move it claims will cut distribution costs by up to £3.4bn (€3.8bn) a year.Calastone said it would be the first transition to blockchain for the global funds sector and would make products more accessible to all market participants and investors across 40 markets and more than 1,700 financial organisations.Calastone’s clients – all of which will be switched onto the blockchain platform – include Danish pension fund AP Pension and asset managers Hermes Investment Management, JP Morgan Asset Management, Aviva Investors and Baring Asset Management, according to its website.The whole network will start to use blockchain technology in May 2019 through Calastone’s new Distributed Market Infrastructure (DMI), a trading platform. Campbell Brierley, Calastone’s chief innovation officer, said: “Calastone’s DMI will totally transform the trading and servicing of funds and has the potential to realise significant long-term value.”He said that, by gathering all trading relationships together in a digital infrastructure, all participants would benefit from the real-time view of each record.From a data perspective, this would give them “a single version of the truth”, he said.“Instantly this alleviates common friction points that exist today, including areas such as reconciliation and settlement, which are resolved automatically with all transactions being performed in the same environment,” Brierley said.In a statement announcing the development, Calastone argued that the investment fund industry “trails other financial services sectors, still beset by manual processes, outdated systems and technologies”. The current system of fund trading was “opaque, fragmented, and doesn’t work in the interests of consumers”, Calastone said.
Mojo Maritime, a part of James Fisher Marine Services (JFMS), has, together with Ecole Centrale de Nantes, enabled Floatgen to supply energy to the French electrical grid from the SEM-REV marine energy test site, near Le Croisic in France.Ecole Centrale de Nantes and Mojo Maritime worked at the Floatgen floating wind turbine, which is one of the few prototypes installed in the world today, to replace a defective connection box which was preventing an electrical connection to marine energy converters.Ecole Centrale de Nantes installed the subsea connection hub, to which three demonstrators can connect simultaneously on the SEM-REV site two years ago.However, final validation checks on the connection revealed an insulation defect on one of the phases of the 25 km long underwater cable, which had to be repaired to ensure it wouldn’t jeopardize future projects and was ready to supply energy to the French electrical grid.The Ariadne offshore construction vessel was chartered for the task. The 8MW electrical connection is now operational and will start supplying its first kWhs this summer, the company noted.Mojo Maritime France project manager, Maxime Morandeau, said: “It’s been an absolute pleasure to work with Ecole Centrale de Nantes on this project. To optimize operations we used Mermaid for accurate modelling and scenario planning, which reduces the risk of any unexpected situations or costs, and meant that the project was completed according to plan.”
COLUMBIA, Mo. — David Stevens broke free up the middle. He ran forward at the snap, turned to face his quarterback and hauled in the pass that made Ryan Nassib the greatest quarterback, statistically, in Syracuse history.Nassib’s 14-yard completion to Stevens on the opening drive of the game on Saturday made him the all-time leading passer in school history, passing Orange legend Marvin Graves to move into the top spot. And by the time Nassib had led his team on a last-second scoring drive to upset Missouri 31-27, he’d thrown for 385 yards and one touchdown.His final touchdown pass of the game, a 15-yarder to Alec Lemon, gave him 23 for the year, setting another SU record for most touchdown throws in a single season.“I love that guy,” offensive coordinator Nathaniel Hackett said. “Congratulations, Ryan. Holy cow.”As head coach Doug Marrone has grown the Syracuse program over his four years at the helm, Nassib’s growth as a quarterback has taken on a direct relationship.AdvertisementThis is placeholder textHe spent a season observing — and waiting — during the Greg Paulus experiment, playing a limited role on a few plays per game. But since then, the team has been his. It’s gone as he has gone, and lately that direction has been up.“We trust him, and he leads our team in the right direction,” Lemon said.With Saturday’s win, he’s now guided the Orange to victories in four of its last five games. He engineered two touchdown drives in the final half of the fourth quarter last night, calmly running the offense and exuding the poise and moxie needed late in games.He even overcame a later interception on a pass that deflected off Wales’ hands. Instead of wallowing in the moment — one that could have sealed the game for Missouri — he shared a moment of encouragement with his tight end and promptly mounted the seven-play, 81-yard touchdown drive that won the game and strengthened his legacy.“It was fun,” Nassib said. “We have fun silencing crowds like this. We’ve been here before, and we were fortunate enough to make enough plays to have it happen again.”It was a stark contrast from last year’s team, which promptly fell off a cliff in the second half of the season by losing five straight games. Suddenly, this year’s Orange squad can compete with anyone.And Nassib is the main reason why.“I already knew (the offense was) going to make the play,” safety Shamarko Thomas said. “When they tell us they’re going to make the play, they do it. I already knew we were going to win.”Injury to Franklin hurts Tigers He had been erratic. See the 27 incompletions and four interceptions in a loss to Florida. He had been ineffective. See the 92 total passing yards in a 21-point defeat to South Carolina.But on this night, a warm one in front of a modest crowd against a mediocre non-conference opponent, James Franklin was dominant.Through two possessions he completed every pass. Through one quarter he tallied 173 passing yards and a pair of touchdowns. He picked apart a Syracuse secondary that tackled poorly and covered worse on the way to a 17-10 halftime lead.Franklin’s first pass of the game, a bubble screen that floated towards the left side, was plucked out of the air by speedster Dorial Green-Beckham, who promptly raced down field untouched for a 70-yard touchdown.He started the Tigers’ next possession with four straight completions, amassing 54 yards in a matter of seconds. Franklin capped the drive with a 30-yard touchdown pass to Jimmie Hunt on a crossing route, and Hunt outraced three SU defenders to reach the corner of the end zone.He cooled after halftime, producing zero points in the third quarter. And then he got hurt — an injury that proved costly in a game decided in the final few minutes.“I just got the word that he was dinged,” Missouri head coach Gary Pinkel said. “Our trainers pulled him out. We’ll see where it goes from here. I don’t know which play it happened on.”Just as suddenly as he had put together what looked like the best game of his season, Franklin was gone. And in his place was backup Corbin Berkstresser, who managed the game fairly well but lacked the explosiveness that Franklin, a dual-threat quarterback, used to torment the Orange early.Berkstresser finished the game 4-for-8 for 85 yards and one interception on the game’s final play. He led the Tigers on a touchdown drive on his first possession of the game, but after that he produced a three-and-out and a field goal when his team needed seven points to try and put away the Orange.He ended with a face full of Deon Goggins, who shoved a Missouri offensive lineman into the quarterback’s lap on he final play of the game. The result was a ball heaved desperately down field and easily picked off by Keon Lyn, igniting a celebration for the Orange.“It came down to who wanted it more,” Goggins said. “And we wanted it more. I sure wanted it more, so I had to get back there and make something happen and help my brothers.” Comments Facebook Twitter Google+ Published on November 18, 2012 at 11:31 am Contact Michael: [email protected] | @Michael_Cohen13