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EEX Group has successfully reached an agreement with LCH Ltd (LCH) in London to novate, subject to member agreement, open positions in Dry Bulk Freight FFA and option contracts from LCH to its clearing house European Commodity Clearing (ECC) by the end of 2017.
Planning and technical preparation for the open interest transfer will begin immediately, ensuring that position holders electing to transfer to ECC from LCH experience a seamless transfer from one clearing house to another.
The agreement, which is subject to the necessary approvals from the EEX Supervisory Board, signifies a major development for the Dry Bulk
- 03/07/2017
Gondor Capital’s two hedge funds continued to outperform in May firms’ domestic hedge fund Gondor Partners, LP climbing 9.68 per cent through May (+1.26 per cent MTD), beating its benchmarks, with the S&P 500 gaining 8.66 per cent and HFRX expanding 2.85 per cent during the same period.
Gondor’s offshore fund, the Gondor Partners, Ltd, closed the first five months of 2017 up 8.54 per cent (+ 0.73 per cent MTD), while the S&P 500 and the HFRX finished 8.66 per cent and 2.85 per cent respectively during the same period.
Portfolio manager Vincent Au points out that both
- 03/07/2017
- 03/07/2017
More than three quarters (77 per cent) of UK fund managers believe that the UK Government should have consulted the asset management industry more before commencing Brexit negotiations, according to a new report from MJ Hudson.
The report, based on a survey of more than 300 fund managers and investors in the UK, Europe and the rest of the world (ROW), also revealed that 80 per cent of UK fund managers do not believe the UK negotiation team has sufficient understanding of asset management in order to deliver a deal that works well for the UK industry; 63 per cent
- 03/07/2017
The value of non-Treasury debt listed on The Warsaw Stock Exchamnge’s Catalyst debt market reached PLN81.8 billion at the end of Q4 2016, the markets highest ever value, according to a new Grant Thornton report.
In addition, the report reveals that during the whole of 2016, the value of instruments listed on Catalyst did not fall quarter on quarter for the first time in three years.
Grant Thornton’s fifth analysis of Catalyst, which opened in September 2009, suggests that it is more than a trading venue for Treasury debt, and that the growing segment of corporate bonds still represents
- 03/07/2017
SteelEye, the compliance technology and data analytics firm, has appointed Matt Smith (pictured), a highly-experienced regulatory tech specialist, as its new Chief Executive Officer.
Smith’s appointment is aimed at helping drive the firm’s growth as it markets its secure and scalable data storage platform which incorporates best-in-class analytics. The SteelEye product has been designed to help financial firms meet their obligations under MiFID II, whilst also acquiring valuable insights into their businesses.
Smith brings over 18 years of technology and management expertise to SteelEye. He joins from Bloomberg where he was a senior product manager working on a range
- 03/07/2017
- 03/07/2017
Tages Capital (Tages) in partnership with Chicago & Bellevue based Rotella Capital Management (Rotella), has launched the Tages International Funds SICAV – Tages Rotella UCITS Fund.
This will be the fourth sub-fund of Tages International Funds SICAV, a UCITS-compliant umbrella fund structure domiciled in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF).
Rotella, established by Robert Rotella in 1995, has been a pioneer in the development of specialist systematic managed futures programmes. The Rotella Polaris Program has been managed since 1991, with the objective of producing consistent absolute returns, minimising monthly drawdowns, and maintaining relatively
- 03/07/2017
MSCI has launched two new ESG indexes, the MSCI Japan Empowering Women Index (WIN) and the MSCI Japan ESG Select Leaders Index.
The Government Pension Investment Fund for Japan (GPIF), one of the world’s largest pension funds, has selected these innovative MSCI indexes as benchmarks for their ESG investment strategy. This reflects the growing use of MSCI ESG indexes globally as part of institutional investors’ investment processes.
Recent research has suggested that greater participation of women in the workforce may have benefits for the Japanese economy. As a result, the Japanese government has set out explicit goals to encourage women’s
- 03/07/2017
Barclays has launched the Barclays Merger Arbitrage US Index Family, a new addition to the Barclays range of Quantitative Investment Strategies.
Barclays launched its first Merger Arbitrage indices in 2010. The addition of the new index family will allow investors to access potential returns from the successful completion of announced merger deals in the US.
The index aims to invest in a wide array of deals in the US and capture the deal spread between the price of the merger target shares and the terms of the deal. It takes a long position in the target company of the merger
- 30/06/2017
The US CFTC has entered into non-prosecution agreements with the former Citigroup Global Markets traders – Jeremy Lao of New York, New York, Daniel Liao (of Minato-Ku, Japan, and Shlomo Salant of New York, New York.
In their non-prosecution agreements, Lao, Liao, and Salant each admits that he engaged in the unlawful disruptive trade practice of “spoofing” (bidding or offering with the intent to cancel the bid or offer before execution) in US Treasury futures markets while trading for Citigroup Global Markets Inc. (Citigroup) in 2011 and 2012. The non-prosecution agreements emphasize Lao’s, Liao’s, and Salant’s timely and substantial cooperation,
- 30/06/2017
The Libero Development Fund has beaten its objective of a return of 12 per cent net per annum for investors, returning 12.6 per cent.
Founded by asset management professionals Mary Murphy (pictured), and Iain Cahill, the fund is now in its third year of trading. It actively creates and trades, through private placement, European Medium Term Notes (EMTNs), bonds and structured notes. All of the securities are issued by investment grade institutions.
“It is very rewarding to be able to deliver on our objective for our clients,” says Murphy, Managing Director of the Libero Development Fund. “As we continue
- 30/06/2017
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