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The European Energy Exchange (EEX) reached a volume of 311.2 TWh on its power derivatives markets in March, representing a year-on-year increase of 22 per cent (March 2016: 255.8 TWh).
In particular, power products for the German-Austrian market contributed to this result. At 250.5 TWh, volumes in this market increased by 42 per cent (March 2016: 176.6 TWh). This includes 225.9 TWh from Phelix Futures and 24.6 TWh from Phelix Options.
The March volumes comprised also 158.7 TWh registered at EEX for clearing. Clearing and settlement of all transactions was executed by European Commodity Clearing (ECC).
On the
- 04/04/2017
BRI Partner’s Long/Short Equity Index (BRILSE) calculated by Wilshire Associates posted a performance of -0.03 per cent for the month of March, taking it to +3.89 per cent for the year-to-date 2017.
March's performance was largely driven by exposure to value-focused names across the large and mid-cap universes. This was largely offset by positive contribution from the growth portfolios as well as the hedge resulting in a slight loss for the index.
BRIndexes deliver the beta of hedge fund strategies. The BRIndexes do not measure the performance of hedge fund managers and, therefore, do not rely on managers to provide
- 04/04/2017
Since the market correction of 2008, a vast majority of hedge fund net asset flows have gone to a small minority of hedge funds with the strongest brands.
A recent report from Hedge Fund Research shows that approximately 69 per cent of hedge fund assets are controlled by firms with over USD5 billion in assets under management and 91 per cent are controlled by firms with over USD1 billion in assets.
This is a significant increase from the 2009 percentages of 61 per cent and 86 per cent respectively.
Don Steinbrugge (pictured) of Agecroft Partners writes that each
- 04/04/2017
- 04/04/2017
Alter Domus, a provider of fund and corporate services, has opened its second office in Ireland in Cork, creating 60 new jobs.
Alter Domus was established in Ireland in 2011 and in 2014 the firm acquired O'Donovan Stewart Corporate Services. The team was set up in Dublin to provide the full suite of corporate services with strong activity in aircraft leasing, private equity, real estate and debt.
James McEvoy, Alter Domus country executive Ireland, says: “Today, we are delighted to now be able to offer Fund Administration services specialising in private equity, real estate, infrastructure and debt and further,
- 03/04/2017
- 03/04/2017
AK Jensen Group (AKJ), an independent brokerage serving the institutional and hedge fund industries, has named Kieren McCormack as CEO of its subsidiary, AK Jensen Limited.
McCormack (pictured) joins AK Jensen Limited from Credit Suisse, where he was a managing director and head of prime services sales and coverage in Europe. Credit Suisse was the largest prime broker in Europe by assets (Eurohedge) for the past seven years and for the most part McCormack led the team behind this success.
AKJ’s chief executive officer, Anders Kvamme Jensen, says: “McCormack has an impressive 20-year track record in prime services and
- 03/04/2017
- 03/04/2017
The Lyxor hedge fund index was up 0.2 per cent last week, taking it to an increase of 0.5 per cent in March and 1.1 per cent in the first quarter.
Most strategies were up in Q1, with event-driven outperforming and CTAs underperforming.
Within event-driven, special situations funds are leading the pack. Activists have particularly thrived, with leading players in this space up in the range of 4-5 per cent year to date. Meanwhile, market neutral L/S equity funds extended their recovery last week. The Lyxor L/S equity market neutral index is up 3.3 per cent year to date
- 03/04/2017
Gresham House, an asset manager focused on alternative investment strategies and illiquid asset classes, has appointed Andy Hampshire to the newly created role of chief technology officer.
Hampshire (pictured) will develop and drive the implementation of Gresham House’s technology strategy, including the creation of a distinctive co-investment platform. This platform will provide a high quality service for investors and facilitate co-investment opportunities for clients, which will materially enhance the group’s client service proposition.
He will also advise investee companies on the use of technology as a driver of shareholder value creation.
Hampshire has over 10 years of experience
- 03/04/2017
- 03/04/2017
FundRock Management Company has appointed Ronan Doyle as head of risk and operations for its Irish AIFM and UCITS management company branch.
Doyle (pictured) has broad and deep funds industry experience spanning more than 18 years, specialising in fund administration, depositary and management company services.
“At FundRock we have a long heritage in fund governance developed over 80 years and have been involved in the Irish market servicing funds since 2012. As we look to expand our offering in Ireland it is important that we source local talent and expertise in order to enhance our clients experience and increase
- 03/04/2017
Euronext has signed a binding heads of terms with ICE Clear Netherlands, a subsidiary of Intercontinental Exchange, for the provision of clearing services for its financial derivatives and commodities markets.
Under its “Agility for Growth” strategy, Euronext has deployed significant effort to establish clearing optionality for its clients, including acquiring a 20 per cent stake in EuroCCP and subsequently launching the preferred clearing model for cash equities.
On 3 January 2017, Euronext was granted exclusivity to acquire 100 per cent of the share capital and voting rights of LCH.Clearnet SA (Clearnet), contingent on the closing of the merger between
- 03/04/2017
The Derivatives Service Bureau has opened the DSB User Acceptance Testing (UAT) platform to the industry with a revised and updated set of product templates that are consistent with MiFID II requirements.
The UAT platform is a functionally complete system that will provide near real-time allocation of International Securities Identification Numbers (ISINs) for OTC derivatives as well as generate additional attributes that are mandated by MiFID II, such as the Classification of Financial Instruments (CFI) and Financial Instrument Short Name (FISN) ISO standard values.
“We are delighted to make available the UAT platform for formal industry testing on time
- 03/04/2017
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