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An innovation in Luxembourg’s alternative fund structure range came to market in 2016: the Reserved Alternative Investment Fund (RAIF). This investment fund structure expedites time-to-market, meaning asset managers can set-up their fund project in a shorter timeframe.  Efficient time-to-market Prior to the RAIF, all Luxembourg investment fund vehicles were subject to authorisation and supervision of the Commission de Surveillance du Secteur Financier (CSSF). Built on the Alternative Investment Fund Managers Directive (AIFMD), the law of 23 July 2016 on Reserved Alternative Investment Funds (RAIF law) introduced a new type of alternative investment fund – the RAIF – that is not
Gresham House, a specialist asset manager focused on alternative investment strategies, has appointed Michael Hart to the newly created role of Head of Distribution. Hart has over 20 years’ experience in both traditional and alternative asset management. Most recently he served as Global Head of Business Development at Amundi Alternative Investments. Prior to this he was Global Head of Business Development for Aberdeen Asset Management’s alternative solutions division. Michael also spent over ten years at investment consultants Bfinance. He has an in-depth understanding of investor requirements which has led to a strong network of institutional clients, sovereign wealth funds, government
TGE (Polish Power Exchange) has launched a new trading system provided by Nasdaq. Nasdaq has partnered with TGE since 2008. The new technology boosts TGE’s markets performance capabilities and operational flexibility, allowing the exchange to expand future activities, including adding commodity and derivative instruments to its business offering.   The trading platform operated by TGE features comprehensive multi-market model support, a wide range of order type and asset types, market maker support, execution of derivatives market strategies, market data processing and integrated index calculator as well as comprehensive risk management and real-time position keeping and market control and supervision. Nasdaq’s matching
The US CFTC has issued an Order filing and settling charges against David Liew for engaging in numerous acts of spoofing, attempted manipulation, and, at times, manipulation of the gold and silver futures markets.  Liew engaged in this unlawful conduct for more than two years while he was employed as a junior trader on the precious metals desk for a large financial institution. The CFTC Order finds that Liew acted individually and in coordination with traders at that institution and with a trader at another large financial institution.   In the Order, Liew admits the facts of his manipulation and
INTL FCStone’s Precious Metals Division’s web-based physical gold trading platform, PMXecute+ has traded nearly 10 tonnes of gold, representing close to USD400 million in value, since its launch in late February 2017. Barry Canham, global head of the Precious Metals Division, says: “We are proud of the significant trading volumes that we have achieved with PMXecute+ in the short time since its launch earlier this year. I look forward to providing additional updates to the market in terms of our volumes over the coming months.”   The Company’s focus since launch has been to ensure wider liquidity on the platform,
Friess Associates has launched the Friess Small Cap Growth Fund making the firm’s small-cap services widely available for the first time. Smaller companies played such a significant role in the early growth of Friess Associates that the firm began dedicating specialised attention to the small-cap category in 1982. Over the next 35 years, only institutions and high-net-worth individuals able to meet substantial investment minimums could access the firm’s small-cap services.   Friess Small Cap Growth Fund’s investment minimum is USD2,000 in the fund’s investor class, which will trade under the ticker symbol SCGNX. Led by Chief Investment Officer Scott Gates (pictured), Friess researchers
Volumes for North American corporate bonds on International Continental Exchange’s (ICE) Credit Trade electronic trading platform increased to USD5.7 billion of traded notional in the first quarter of 2017, up 52 per cent compared to fourth quarter 2016 notional traded. Launched in late 2015, the platform has achieved seven consecutive quarters of record notional value of bonds traded. The average trade size executed on the platform now exceeds USD1.1 million for US Investment Grade bonds and USD700,000 for US High Yield bonds.   Based on a unique session-based protocol known as Risk Matching Auctions (RMAs), ICE Credit Trade allows the
Linedata, a global solutions provider dedicated to the investment management and credit industries, and Electra Information Systems (Electra), a provider of state-of-the-art reconciliation solutions for the asset management industry, have integrated Electra Reconciliation and Linedata Mfact, Linedata’s global fund accounting solution. The creation of a purpose-built interface between Electra Reconciliation and the Linedata platform provides Linedata Mfact users with immediate integration through an adapter created and supported by both Linedata and Electra assuring reliable and continued interoperability.   This integration enables traditional account reconciliation (positions, transactions and cash) and management, historical tracking and non-standard matching, and adds the capability to
Intertrust has appointed Cliff Pearce (pictured) asnted  Global Head of Capital Markets. Pearce has over 20 years’ experience working in Capital Markets with premier financial institutions and funds, originating and delivering structured finance transactions to a wide range of clients.  Pearce, who joins from the Bank of America Merrill Lynch, is replacing Robert Berry who recently retired from Intertrust.   In his new role, Pearce will oversee and build on Intertrust’s unique global offering of capital market solutions, with a strong market share in the UK, Ireland, the Netherlands, Luxembourg and Cayman. He will also be responsible for developing a
Exchange turnover in investment products and leverage products increased on Europe’s financial markets in the first quarter of 2017. Compared with the fourth quarter of 2016, turnover rose by 8.0 per cent to EUR30.5 billion.  However, this still represents a 9.0 per cent decrease year on year. Those are some of the outcomes of an analysis by Derivative Partners AG of the latest market data collected by the European Structured Investment Products Association (EUSIPA) from its members.  The members of EUSIPA providing input to the report are: Zertifikate Forum Austria (ZFA), Belgian Structured Investment Products Association (BELSIPA), Association Française des Produits Dérivés de

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