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The US Commodity Futures Trading Commission (CFTC) has issued an order of registration to Eurex Zurich, a foreign board of trade (FBOT) in Switzerland, allowing the company to provide its identified members or other participants located in the US with direct access to its electronic order entry and trade matching system.   Eurex Zurich’s application for registration included representations that its regulatory regime under its regulatory authority, the Swiss Financial Market Supervisory Authority (FINMA), satisfies the requirements for registration under CFTC regulations.   After reviewing the FBOT’s application, the CFTC determined that Eurex Zurich has demonstrated its ability to comply
Global independent fund administrator Apex Fund Services has become the first administrator to receive in principle approval from the ADGM to carry out regulated activity in the jurisdiction.    Under the in principle approval, the grant of financial services permission to act as the administrator of a collective investment fund in the ADGM is subject to final regulatory review of certain pre-conditions being fulfilled.   Having recently acquired Equinoxe Alternative Investment Services, with the backing of Genstar Capital, Apex has stepped up to be ranked one of the world’s top 15 largest fund administrators. The group was founded in 2003
Hamilton Lane has appointed Leslie F Varon and David Berkman as independent directors on the firm’s board, effective 26 May 2017.   Varon has also been appointed chair of Hamiilton Lane’s audit committee.   “We are delighted to have Leslie and David join Griff Sexton as independent directors, thereby expanding the board to six members including our CEO Mario Giannini, myself, and Erik Hirsch, our vice chairman,” says Hartley Rogers, chairman of Hamilton Lane.   “As we continue to grow and serve our clients, we are committed to deepening our resources and furthering the spirit of innovation that has long existed at our firm,” says Giannini. “Leslie and
Neuberger Berman has broadened its suite of alternative investment solutions with the launch of two UCITS funds employing collateralised index put writing strategies.   The Neuberger Berman US Equity Index PutWrite and Global Equity Index PutWrite funds seek to generate attractive risk-adjusted returns through the harvesting of premiums from selling put options on US and global equity indices, respectively, and the conservative investment of underlying collateral.   Volatility of this strategy is generally lower than the underlying equity indices as investors typically experience lower up market and down market capture than the underliers. Therefore, over time, this strategy aims to
The Hedge Fund Standards Board (HFSB), the global standard-setting body for the alternative investment industry, has become co-chair of the Open Protocol Working Group.   The Open Protocol template standardises the collection and representation of risk information of hedge funds and other types of investment funds, and currently is used by funds with over USD1 trillion in assets under management.   Open Protocol, which is an open standard which all investors and managers are free to adopt, will be added to the HFSB Toolbox. The Toolbox complements the HFSB’s standard-setting activities by providing additional guidance on practical issues to managers,
Citi is to sell its fixed income analytics and index businesses to London Stock Exchange Group (LSEG) for a total cash consideration of USD685 million, subject to customary adjustments.   The transaction includes Citi’s fixed income analytics platform, The Yield Book, and Citi Fixed Income Indices which include the World Government Bond Index (WGBI).   Subject to regulatory clearance and other customary closing conditions, the transaction is anticipated to close in the second half of 2017.   Citi made the decision to divest the businesses following a strategic review process. Citi believes that LSEG is a partner that will optimise
Alternative investment fund manager SQN Capital Management has appointed Dawn Kendall as managing director of SQN Asset Management Ltd, the UK manager of the SQN Secured Income Fund (LSE-SSIF).   Kendall joins SQN from TwentyFour Asset Management where she was a partner, portfolio manager and a member of the executive committee.   She started her career at SG Warburg (now UBS), and has since held senior investment and management positions at Newton, Axa (Architas), and Investec Wealth & Investment as well as at TwentyFour.    Her primary specialism is fixed income with an extensive background in investment trusts, structured finance, product development, marketing, risk, derivatives
Nasdaq and Astana International Financial Centre JSC (AIFC) have signed a new agreement for the development of Kazakhstan’s nascent stock exchange, the AIFC Exchange.   The exchange is targeted to launch in late-2017 and will initially trade equities and fixed income with other asset classes for future phases.   Within the framework of the agreement, the Nasdaq Matching Engine will be implemented and go through several rigorous testing and acceptance stages before official deployment. The Nasdaq Machine Engine is the most widely-used matching engine in the world that combines extraordinary performance with extensive functionality to cost-effectively meet current and future business and
Signs of economic growth, steady US yields and a calm dollar greenlit a rebound in global risk assets after last week’s declines, according to the latest Weekly Brief from Lyxor’s Cross Asset Research team.   Less noise about the controversial Trump’s ties to Russia and a relatively innocuous Fed statement helped US equities to recover.   While the minutes reinforced expectations for a fully-priced June rate hike, they didn’t change investors’ prospects for at most two hikes in 2017.   It supported dollar assets, including EM markets and non-energy commodities.   Meanwhile, Eurozone assets had to contend with the firmer
The Billion Dollar Club of hedge fund investors continues to expand, as new members join their ranks and total combined allocations to the asset class rise, according to Preqin.   This group of those investors allocating USD1 billion or more to the industry has seen a net increase of eight members in the 12 months to June 2017, and now stands at 242 institutions.   Furthermore, the level of capital invested in hedge funds by these investors has grown by 6 per cent over the past year, and now stands at USD805 billion. The Billion Dollar Club of investors collectively

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