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The Exchange Council of the Frankfurt Stock Exchange has unanimously elected Michael Rüdiger as its new Chairman.  Rüdiger is CEO of DekaBank Deutsche Girozentrale, and has been a member of the Exchange Council as representative of public law credit institutions since the last election on 1 December 2016. He takes over from Lars Hille, representative of the cooperative financial services network (Genossenschaftliche Finanzgruppe, who will leave DZ BANK AG in October 2017 and therefore will terminate his membership in the Exchange Council after ten years. Dr Matthias Zieschang, Executive Board member at Fraport AG, remains Deputy Chairman. “Lars Hille took
Intercontinental Exchange (ICE) is to acquire Bank of America Merrill Lynch’s Global Research division’s index platform.  The BofAML indices are the second most used fixed income indices by assets under management (AUM) globally, and upon closing, the AUM benchmarked against the combined fixed income index business of ICE will be nearly USD1 trillion. Upon closing, the indices will be re-branded as the ICE BofAML indices. The terms of the agreement were not disclosed, and the transaction is expected to be completed in the second half of 2017. The financial impact of the transaction is expected to be immaterial in 2017.
The European Energy Exchange (EEX) achieved a total volume of 246.9 TWh on its power derivatives markets in May (May 2016: 287.8 TWh). In the Phelix futures for the German/Austrian market area, a volume of 164.2 TWh was traded in May. The volume for the newly introduced Phelix-DE-Futures amounted to 8.1 TWh. EEX recorded the highest monthly trading volume since the beginning of the year in Italian (36.5 TWh) and Spanish (6.4 TWh) power futures. The May volume comprises 144.4 TWh traded at EEX via Trade Registration with subsequent clearing. Clearing and settlement of all exchange transactions was executed by
AlphaCat Managers (AlphaCat), a wholly owned subsidiary of Validus Holdings, has appointed Bernard Van der Stichele as Portfolio Manager. He will report to Lixin Zeng, Chief Executive Officer of AlphaCat. Van der Stichele brings over 15 year of institutional investment management experience to AlphaCat. Previously, he served as Vice President at AQR Capital Management. Prior to that, he was a Senior Investment Analyst at Ontario Teachers’ Pension Plan, where he developed its first direct ILS investment strategy. Lixin Zeng, Chief Executive Officer of AlphaCat, says: “We are delighted to welcome Bernard to the AlphaCat team. With his impressive track-record and
By A J Alex Gelinas (pictured), Sadis & Goldberg LLP – President Trump has made tax reform a priority and the election of a Republican-controlled Congress has created the possibility for major changes in federal income tax and estate taxes. Despite the current in turmoil in Washington DC, there is a general belief that some sort of major tax reform will be enacted in 2017 or 2018.  On April 26, President Trump unveiled a one-page summary of the “2017 Tax Reform for Economic Growth and American Jobs” (the Trump Proposal). The President’s press release described the Proposal as the “biggest
LOGiQ Asset Management has appointed Tim Fitzpatrick as chief compliance officer of the company and certain of its securities-registered subsidiaries, effective 1 June 2017 subject to securities regulatory approval.   Fitzpatrick is a highly experienced compliance executive with an extensive background in Canadian securities regulatory practices.   Most recently he was the chief compliance officer at Goodman & Company, Investment Counsel Inc, and has also served as a senior compliance officer for Mackenzie Financial Corporation. Prior to this, Fitzpatrick was a compliance and investor inquiries officer at the Ontario Securities Commission.   “We are pleased to welcome Fitzpatrick to the
Lysis, a provider of business change management and KYC services, and iMeta, a provider of client lifecycle management software, have joined forces to create a Client Lifecycle Managed (CLM) service for the small to medium size institutions in the financial services sector.   The new offering streamlines the on-boarding, KYC and CLM processes, and aims to benefit financial firms who are looking to improve efficiency and reduce the cost of their overall regulatory operational KYC processing and reporting obligations without having to incur the high capital investment typically associated with on-premise CLM and KYC solutions.   The new service includes a
Corporate credit specialist Muzinich & Co has launched the Muzinich Emerging Market Debt Fund for investors aiming to tap into capital growth opportunities in EM credit.   The Ireland-domiciled OEIC fund complements the existing Muzinich Emerging Market Short Duration Fund by giving investors access to the higher return potential available from regular duration emerging market credit.   Warren Hyland (pictured), portfolio manager of both funds, says: “The economic cycle is shifting. We’re moving from an environment where deflation and economic slowdown were the primary concerns to one of reflation and rising interest rates, where growth drivers are coming to the
Law firm Dechert has appointed Joachim Kayser as a financial services/alternative investment partner in Frankfurt.   Kayser (pictured) was most recently head of alternative investments as well as asset management regulatory with accounting and tax firm PwC Germany.    “We are delighted that Joachim and his team will be joining our German financial services group. The addition of Joachim and his team in Frankfurt will nicely complement our existing German practices in Bonn, Frankfurt and Munich,” says Achim Pütz, managing partner Dechert’s Frankfurt office.   Kayser`s practice focuses on legal and operational advice for investment funds as well as their
Colt now provides connectivity to the pan-European exchange Equiduct through its financial extranet Colt PrizmNet, making it easier for firms to meet their best execution requirements under MiFID II.   Colt PrizmNet connects to key equity trading venues as well as other asset classes, simplifying access to multiple venues through a single platform and supporting firms to fulfil their regulatory obligations.    Equiduct is a regulated market segment of the Börse Berlin, and is considered pre-trade transparent and fully MiFID compliant. It provides access to pan-European equity markets, including the Euronext area, UK, Germany, Italy, Nordics, Spain and Switzerland. In

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