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The Central European Gas Hub (CEGH), located in Vienna, is already the reference market in Central Eastern Europe (CEE), according to a paper from Powernext, operator of the pan-European gas trading platform PEGAS. Powernext published the position paper in response to a study initiated by E-Control on the performance of the Austrian gas market and the impact potential market area integrations.    An integration with neighbouring markets like Slovenia, Slovakia and Croatia could further bundle liquidity in CEE and reduce dependency on oil-indexed contracts.   The study on potential market area mergers has been conducted by the independent consultant WECOM.
The Financial Conduct Authority (FCA) has appointed its new Skilled Person Panel, effective until 2021. The panel is a supervisory tool, used by the financial watchdog to carry out independent reports, known as a s166 review, where there are specific concerns about a regulated firm’s activities.   The reviews have been used to tackle heavyweight cases including closer examinations of restructuring deals and alleged money laundering.                       Firms issued with a s166 Requirement Notice need to select one of the appointed providers from the panel to carry out the Skilled Persons review. A skilled person must have the necessary expertise
Quaero Capital has appointed Francesco Samson as its group chief operating officer, as of 1 April, subject to Swiss Financial Market Supervisory Authority FINMA’s approval. Samson joins from Brevan Howard in Switzerland, where he was head and chief operating officer of the Geneva office and a member of the executive committee of Brevan Howard Investment Products in Jersey. He has considerable experience in the asset management business, built up over more than 20 years.   Prior to his last post, he spent 10 years at Nyon-based EIM SA, where he was partner, group chief operating officer and member of the
eVestment, a provider of institutional investment data and analytics, has launched the eVestment iPhone app. The app pulls from eVestment’s SaaS-based Analytics platform and allows users to see and use high-level summaries, charts and graphs highlighting research, competitive analysis and due diligence across traditional long-only and hedge fund investment vehicles.   The app is available free in the Apple App Store for all users with an existing eVestment Analytics subscription.   “Smartphones have changed how business people consume and retrieve data: they expect information to be easily accessible, easy to use anywhere and anytime and on their device of choice,”
By Dami Oloidi, Meyler Capital Sonar for ships: Sonar technology is used by ships to map the ocean floor. First, sound signals are sent out, via a transmitter, in the direction of the ocean bed. Secondly, the signals reach the ocean bed and bounce off whatever object they touch. Finally, they reflect back to a receiver to transform the sound signals into an image of the ocean bed. Underwater features closer to the ship take less time to reflect back to the receiver, as opposed to features further away from the ship. This time differential is used to map the valleys and mountains ranges
Nodal Clear, the clearing house subsidiary of Nodal Exchange, has been recognised by the European Securities and Markets Authority (ESMA) as a third-country central counterparty (CCP) under the European Markets Infrastructure Regulation (EMIR). Under European law, third-country CCPs must receive recognition from ESMA to be deemed a Qualifying Central Counterparty (QCCP).   European bank affiliated clearing members may receive favourable capital treatment for their exposures arising from derivatives cleared though a CCP that is considered a QCCP such as Nodal Clear.   “Recognition by ESMA will permit Nodal Clear to continue to provide capital efficient risk management solutions to our
Public Pension Capital (PPC) and FiveW Capital, together with existing management, have acquired Viteos Fund Services, a provider of middle‐ and back‐office technology and services for the investment management industry. The transaction brings together a group of financial and strategic investors experienced in building and growing technology and service providers.   The Viteos management team will continue to lead the company.   Viteos, founded in 2003, provides customised straight‐through‐processing and integrates post‐trade operations for the investment management industry in the US, Europe and Asia. It provides shadow‐accounting services and offers a full range of middle‐ and back‐office outsourcing through its
Alternative IQ has launched a careers service specifically designed to serve Canada's hedge fund community. The AIQ Careers Service offers two options to connect companies in Canada's hedge fund industry with the right people: a basic job posting facility where firms post positions and candidates respond directly to the company, and a full service recruitment package which is custom tailored to each company's particular needs.   "Either way, the advantage of recruiting through Alternative IQ is that companies and positions are presented only to those candidates who are uniquely qualified and keenly interested in a career in Canada's hedge fund
Imagineer Technology Group has appointed Bob Ceremsak as a senior advisor to the company. Ceremsak (pictured) will advise Imagineer as it grows its three product lines, Clienteer, FundInsight and Webvision.   “We are excited about having the opportunity to work with Bob,” says Mark Daniel, principal and head of business development for Imagineer. “Bob has not only been a very engaged client, having used our products previously, but brings a unique breadth of experience and industry connections to our firm as we look to expand our footprint in the industry and tell our success story.”   Ceremsak retired as a
Cowen Group is to acquire Convergex Group from private equity firm GTCR, Bank of New York Mellon and other shareholders for a total consideration, less certain closing adjustments, of USD116 million in cash and Cowen common stock. With combined pro forma brokerage execution revenues of over USD400 million in 2016, the transaction expands Cowen’s reach to 108 countries around the globe, including China.   Cowen expects the acquisition to be accretive to economic income per share and return on tangible common equity in 2018.   Convergex is an agency-focused global brokerage and trading related services provider with a client base

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