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Following the launch of futures and options on the popular MSCI EAFE index that represents the developed markets of Europe, Australasia and the Far East, Eurex has become the only exchange that offers futures and options on all major MSCI indexes. And with the introduction of futures on the EURO STOXX 50 Corporate Bond Index, Eurex is the first mover offering an exchange traded market for the corporate bond segment in Europe.   The new products meet the market’s needs, especially those of the buy side whose investment behaviour is undergoing structural changes. Passive products like Exchange Traded Funds (ETF)
Malta’s launch of its Institutional Securitisations Market (ISM) later this year will put the country on a competitive footing in the sector with Luxembourg and Dublin, according to Managing Partners Group (MPG), the international asset management group. Jeremy Leach (pictured), Chief Executive Officer at MPG, believes the move signifies a huge effort by the Malta Stock Exchange (MSE) in advancing its services and improving the quality of financial services conducted in the country. The timing of the launch, in which the ISM will become a segment of the Exchange, also coincides with the introduction this year of the new ‘Simple,
Sanlam FOUR, the boutique investment manager of the Sanlam Group, has boosted the management team behind its Strategic Bond Fund. Francois Kotze (pictured), who joins Sanlam FOUR from Rathbone Brothers, has been named as assistant manager alongside lead manager Craig Veysey, who has run the Strategic Bond Fund since launch in March 2012. Prior to his role as a fixed income analyst at Rathbones, Kotze was a senior credit and macro analyst at Sanlam Private Investments.   The team behind the Sanlam Strategic Bond Fund also includes macro analyst Matthew Brittain, who joined the Sanlam investment team in 2015.  
The final regulations of MiFID II announced today are likely to lose brokers business, analysts their jobs and also hit fund managers’ profits says Cleveland & Co Associates, the boutique legal advisory business. Among the new regulations of MiFID II, which are due to come into effect in January 2018, is a requirement for investment banks to be more transparent about their costs. Banks and investment managers will be forced to disclose specific fees to their clients – such as fund and asset managers – for research. As it stands, banks include research costs into trading commissions that are charged
Ogier has promoted two senior investment funds specialists in its Cayman team in recognition of their experience and technical skill. Ben Gillooly (pictured), has been promoted to Counsel, while Justin Savage has become a Managing Associate.   Gillooly Ben works with major financial institutions, hedge fund managers and their onshore counsel with a particular focus on Latin American financial markets. He is Caymanian and has been qualified in the jurisdiction for more than ten years. Gillooly also has experience working in Hong Kong.   Ogier introduced the new Counsel role to the firm’s structure at the start of the year.
In June 2017, the European Energy Exchange (EEX) achieved a total volume of 181.2 TWh on its power derivatives markets (June 2016: 374.7 TWh). The June volume comprises 106.5 TWh traded at EEX via Trade Registration with subsequent clearing. Clearing and settlement of all exchange transactions was executed by European Commodity Clearing (ECC).   EEX launched new contracts during the month offering its customers further hedging opportunities against the background of the impending split of the German-Austrian price zone. On 26 June, the Phelix AT Future for the Austrian market and further short-term maturities as well as a Non-MTF offering
CTAs suffered from another trend reversal and underperformed last week, according the latest weekly brief from Lyxor’s Cross Asset Research team. Lyxor writes: “From a top down perspective, we maintain an underweight stance on CTAs. In our view, the trend following environment remains unbalanced and too reliant on equity markets. At the other end of the spectrum, Fixed Income Arbitrage outperformed and Event-Driven was fairly resilient last week. For the full month of June, both strategies outperformed.   “Recently, on several occasions we expressed our strong conviction on Fixed Income Arbitrage. This is a strategy that performs well when bond
Bats Europe has reported June volume and highlights for Bats LIS, its new block trading platform powered by BIDS technology, which saw more than EUR2.0 billion in notional value traded during the month, setting a new monthly record. Bats, which completed the roll-out of Bats LIS to buy-side firms less than four months ago, also reported that 85+ buy-side firms are now connected and utilising the platform. Additionally, more than a dozen sell-side firms are connected to Bats LIS. Bats expects the number of firms using Bats LIS to continue to grow given the interest in the service.   In
Low volatility net asset value (LVNAV) money market funds (MMFs), a new fund category introduced as part of a new regulatory reform of the sector in Europe, will likely attract a large chunk of the almost EUR600 billion in assets currently held in prime constant net asset value (CNAV) funds, according to a new report from Moody’s. Under the new regulation, prime CNAV MMFs will be phased out by January 2019.   LVNAV funds closely resemble the current CNAV model in risk and structure, but unlike CNAV funds allow the imposition of liquidity fees and redemption gates on investors under
Deutsche Boerse’s T7 trading technology is now live for Xetra trading on the Frankfurt Stock Exchange, putting both Xetra and Eurex derivatives trading on the same system.  Eurex Exchange, the European Energy Exchange (EEX) and the Bombay Stock Exchange (BSE) already are using T7 trading technology, while Vienna Stock Exchange and the Irish Stock Exchange will soon migrate their systems to T7. The new system reduces latency, meaning the time for order processing, even further.   Harmonising Xetra and Eurex trading technology also produces significant synergies and means lower development and maintenance costs for  those participants who are active on

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