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The Depository Trust & Clearing Corporation’s (DTCC) full-service institutional straight-through-processing (STP) suite of products processed close to one billion trades for the first time in 2016, across equities, fixed income, equity swaps and repurchase agreements.
DTCC’s products automate trade lifecycle events between 3,800 investment managers, broker/dealers and custodian banks.
“As a user-owned and governed firm, DTCC takes very seriously its role in advancing solutions that help to secure and shape the future growth and development of the marketplace,” says Paula Arthus (pictured), managing director and head of Omgeo and Data Services at DTCC. “DTCC’s mission is to create market
- 09/02/2017
CME Group has declared a first-quarter dividend of USD0.66 per share, a 10 per cent increase from the prior rate of USD0.60 per share.
The dividend is payable on 27 March 2017 to shareholders of record as of 10 March 2017.
Through its exchanges, CME Group offers a range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. CME Group provides electronic trading globally on its CME Globex platform.
The company also offers clearing and settlement services across asset classes for exchange-traded and
- 09/02/2017
- 09/02/2017
Neptune Networks, an open-standard network for bond real-time AXE indications, has added Nomura and Jefferies to its network.
The Neptune network provides a venue for institutional investors to access sell-side pricing on the key bonds they are looking to buy and sell.
This makes it easier to execute orders, prove best execution, minimise information leakage and comply with regulation such as SEC Rule 22e-4, and its equivalent in EMEA, which expands on the existing framework for the oversight and management of liquidity risks.
Seventeen bond dealers are already live on the real-time network (the remaining four are expected
- 09/02/2017
- 09/02/2017
Proper fund governance has long been championed by leading offshore law firm Conyers Dill & Pearman, which for the last decade has encouraged its hedge fund clients to hold at least annual directors meetings. Initially this was met with some resistance according to Robert Briant (pictured), Partner and head of Conyers’ BVI office, who confirms that such resistance has softened over the last few years.
“Even though there is no requirement in the BVI for the directors to meet annually, they do meet and are happy to meet when we suggest it. So that is a positive change. Some funds
- 08/02/2017
- 08/02/2017
One of the reasons as to why the BVI introduced the Incubator and Approved Fund products in May 2015 was, partly, in response to the fact that fund launch numbers in the global hedge fund industry had started to steadily decline. Rising regulatory and compliance costs were hurting start-up managers and dissuading people from coming to market.
In that sense, the BVI was quite prescient and demonstrates the forward looking approach that its regulator, the BVI Financial Services Commission (the "Commission"), takes to ensure that the jurisdiction remains as accessible as possible to start-ups and emerging managers, as well as
- 08/02/2017
Circle Partners is an independent fund administrator with offices in the BVI, Cayman Islands, and across the EU, the Americas and Hong Kong.
"We've seen a lot of growth in new BVI fund vehicles over the last 12 months – both the Incubator Fund and the more popular Approved Fund," reflects Peter Jakubicka (pictured), Business Development Manager at Circle Partners. "These vehicles have been the main driver of business for us in the BVI and we've seen continued interest in the first few weeks of January this year; this is partly due to the fact that Cayman has not introduced
- 08/02/2017
"We see the funds industry as continuing to contribute to the overall offering of financial services. There remains good interest in the BVI product and we envisage that will continue," asserts Glenford Malone, Director, Investment Business Division, BVI Financial Services Commission, when asked to comment on the growth of the BVI's funds industry.
Like every fund jurisdiction, the estimated 40 per cent drop in new fund launches in the hedge fund industry last year negatively impacted the BVI. And as the costs of running a hedge fund business increase, some are choosing to call it a day and revert to
- 08/02/2017
ACA Compliance Group and GLG (Gerson Lehrman Group) have entered into an exclusive partnership to provide mutual clients with the option to retain ACA’s third-party monitoring service for expert consultations arranged by GLG.
Through this service, ACA Compliance Group, a provider of regulatory compliance and technology products, assists compliance and legal teams by chaperoning designated research consultations, documenting possible inconsistencies with policies, and providing a report of findings or issues to escalate following the consultation.
The service is part of ACA’s off-site compliance support solutions and is provided by ACA’s Analysis and Review Center, a dedicated knowledge centre of
- 08/02/2017
PhaseCapital has appointed Michael Ning as chief investment officer (CIO).
Ning will be responsible for PhaseCapital’s investment strategies and research process and will work to further refine the Boston-based asset manager’s investment platform.
Ning, a 20 year industry veteran, most recently served as senior vice president and portfolio manager, multi-asset absolute return strategy at First Eagle Investment Management. Prior to this, he held positions such as senior vice president and portfolio manager, absolute return strategy and head of quantitative credit research with AllianceBernstein after beginning his career at Citigroup.
“The availability of so many data points today requires
- 08/02/2017
- 08/02/2017
In a disappointing start to the year after a challenging 2016, all Societe Generale CTA indices posted negative returns in January.
The flagship SG CTA Index, SG Trend Index, and SG CTA Mutual Fund Index were all in the low negative territory, down 1.13 per cent, 1.16 per cent, and 0.87 per cent respectively.
Conditions were even more challenging for short term traders, with the SG Short Term Trader Index posting -4.07 per cent.
The SG Trend Indicator reflected the difficult conditions for trend followers, ending down 6.46 per cent. Currencies and commodities both contributed negatively, at -4.15
- 08/02/2017
- 08/02/2017
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