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Nasdaq Commodities and Saxo Bank are teaming up to offer small and medium sized companies (SMEs) in the Nordic region direct access to Nordic Power futures on Saxo’s fully integrated trading and risk management platform.
The addition of Nasdaq Nordic power products on SaxoTraderGO offers Saxo’s clients access to a liquid product at the most established power market in Europe. With Saxo, clients can hedge their energy and currency exposure with low barriers to entry.
Saxo’s clients can trade the global markets from a single dashboard and have a clear view of their overall portfolio exposure across all asset
- 06/02/2017
Matthew Hepler, a partner at hedge fund Mercato Capital Management, has been appointed to the board of directors of Terex, with immediate effect.
Prior to joining Marcato, which is a significant shareholder in Terex, Hepler was a managing director at Relational Investors where he led the firm’s research team focusing on the industrials and materials sector.
David A Sachs, chairman of the board, says: “We are pleased to have Matt join the Terex board of directors representing the perspective of one of our largest shareholders.”
John L Garrison, Jr, Terex president and chief executive officer, adds: “We look
- 06/02/2017
The Royal Bank of Scotland (RBS) is to pay a USD85 million civil monetary penalty to settle CFTC charges that over a five-year period from January 2007 through March 2012, through the acts of multiple traders, RBS attempted to manipulate the US Dollar International Swaps and Derivatives Association Fix (USD ISDAFIX).
The CFTC charges say that RBS engaged in the unlawful conduct in order to benefit certain derivatives positions it held that were priced or valued off of the USD ISDAFIX benchmark.
RBS will be required to take specified steps to implement and strengthen its internal controls and procedures,
- 06/02/2017
Imation Corp has launched an investment adviser subsidiary, GlassBridge Asset Management.
In conjunction with the launch, Imation has concluded the transition of its principal business activities to become a publicly-traded alternative asset manager.
Imation intends to rebrand as GlassBridge Enterprises in the summer of 2017. The corporate headquarters will remain in Oakdale, Minnesota.
The launch of GlassBridge is the result of the closing of a transaction with Clinton Group, a diversified asset management firm and an investment adviser registered with the US Securities and Exchange Commission, on 2 February 2017. The transaction allows for GlassBridge to place under
- 03/02/2017
Alternative asset manager FS Investments has appointed Chris Condelles as head of capital markets and investor relations (IR).
Condelles will serve as an executive vice president based in the firm’s Philadelphia headquarters.
In his new role, Condelles will help expand the reach of the firm’s growing suite of investment solutions by overseeing relationships with key stakeholders including institutional investors, banks, rating agencies and the analyst community.
“Chris brings substantial experience building profitable credit and financing solutions businesses to our platform at FS Investments,” says Michael C Forman (pictured), chairman and CEO of FS Investments. “At a time when
- 03/02/2017
The Alternative Investment Management Association (AIMA) has published a guide for investment managers to help them understand and implement the requirements of the European Union’s updated Markets in Financial Instruments Directive (MiFID2).
The guide to the directive, which comes into effect from January 2018, has been produced with significant input from law firm Schulte Roth & Zabel.
AIMA’s MiFID2 Guide aims to provide investment managers with a better understanding of which aspects of MiFID2 are relevant to them, what the rules require and what practical steps they can take to ensure compliance with the new framework.
MiFID2
- 03/02/2017
- 03/02/2017
HedgeCoVest is to provide The SMArt Xchange (SMArtX) exclusively to SS&C’s client base of advisers using Axys, APX, or Black Diamond.
This integration is designed to allow for seamless, sleeve-level reporting and portfolio accounting of all SMArtX accounts through adviser-focused SS&C technology solutions.
SMArtX grants SS&C Advent advisers exclusive access to a UMA/SMA offering that provides intra-day liquidity on almost 150 investment strategies. Advisers gain access to long only, long/short, and options strategies, which are allocated into a single brokerage account. The SMArtX service uses proprietary technology to maintain a real-time record of investment managers’ activity and automatically creates
- 03/02/2017
CME Group has reported revenue of USD913 million and operating income of USD540 million for the fourth quarter of 2016.
Net income was USD373 million and diluted earnings per share were USD1.10.
On an adjusted basis, net income was USD387 million and diluted earnings per share were USD1.14. Financial results presented on an adjusted basis for the fourth quarters of 2016 and 2015 exclude certain items, which are detailed in the reconciliation of non-GAAP results.
Total revenue for full-year 2016 was USD3.6 billion and operating income was USD2.2 billion. Net Income was USD1.53 billion and diluted earnings per
- 03/02/2017
- 03/02/2017
Instinet has added two new tools to its Plazma online account management platform – Vendor Search and Credit Tracker.
Vendor Search helps users to efficiently find research providers by searching multiple categories, including sectors and specialities.
Credit Tracker, designed to be MiFID II ready, helps provide customers with functionality to track and manage Commission Sharing Agreements and Research Payment Accounts.
Instinet Europe is authorised by the Financial Conduct Authority (FCA) as a payment institution, and provides cash management services that are consistent with the RPA approach.
Plazma has undergone a refresh making it easier to navigate, which
- 02/02/2017
A market correction could provide some longer-term benefits, says Nathan Flanders, managing director, Fitch Ratings…
Mention the words ‘market correction’ and reactions range from mild worry to outright concern among most market participants. However, a number of different types of investment managers may actually welcome hearing those words, as a market correction could provide some longer-term benefits.
Why is it that a market correction, which we define as a temporary decline in asset values of approximately 10 per cent, could benefit a business model primarily predicated on delivering positive returns to investors? The answer is that despite the short-term performance
- 02/02/2017
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