Latest News
The European Energy Exchange (EEX) is offering an improved service to its Iberian members with the opening of a new office in Madrid.
Brigitte Caboulet, who has played a key role in the recent rapid growth of EEX market share in Spain, will be joined by Alvaro Reyes Diaz in servicing the local market needs.
Steffen Köhler (pictured), chief operating officer of EEX, says: “When it comes to traded volumes, Spain is now our fourth-biggest market after Germany, Italy and France. Therefore, it is important for us to stay in close contact with the market participants and to extend
- 30/01/2017
- 30/01/2017
Fund management company and alternative investment fund manager (AIFM) FundRock Management Company has opened an office in Dublin, which will be headed up by Ross Thomson.
Thomson has nearly 20 years of fund industry experience in Luxembourg and Canada.
FundRock has also made two initial hires from the Dublin market in order to strengthen its local presence, knowledge and relationships.
Following the market uncertainty created in the investment management sector post-Brexit, FundRock is opening an Irish office to service its clients’ needs and capitalise on the significant rise in UK-based deal flows.
Revel Wood (pictured), CEO of
- 30/01/2017
US Commodity Futures Trading Commission (CFTC) acting chairman J Christopher Giancarlo has appointed Amir Zaidi to lead the division of market oversight (DMO).
In addition, Vincent McGonagle has been appointed as the acting director for the division of enforcement (DOE), while Jeffrey Bandman will step down from his role as acting director of the division of clearing and risk (DCR) to become an adviser on issues related to financial technology. John Lawton, a 36-year employee of the commission, has taken over as acting director of DCR.
Giancarlo says: “During my time at the CFTC, I have been impressed by
- 30/01/2017
The alternatives industry grew solidly in 2016 across all segments and factors tracked by Convergence.
The firm measures the overall health of the industry by analysing changes it observes in 17,500-plus advisers, 53,000-plus private funds and 6,000-plus service providers.
According to Convergence’s Q4 2016 update, more advisers and managers were formed who in turn hired more people and launched more funds. The number of service providers servicing the industry grew and the number of regulatory actions increased as well.
Hedge funds “noise” garnered the most negative attention this year as a series of high profile closures, scandals and performance
- 30/01/2017
Mercury Capital Advisors has launched Mercury iFunds, an end-to-end, digital solution offering RIAs, family offices and other wealth advisers a broad range of alternative investments across the liquidity spectrum.
The mobile-responsive fintech platform of curated institutional-quality offerings is the only digital platform operated by a global capital intermediary having relationships with over 2,500 of the largest institutions in the world including sovereign wealth funds, pension funds, insurance companies and endowments.
Mercury is now providing the RIA community, family offices, and other wealth advisers transparent institutional pricing and exclusive access to alternatives across 18 different investment categories.
An investment
- 30/01/2017
Mediatrix Capital Fund has launched as a Bloomberg-listed closed-end hedge fund administered by Sterling Fund Services, audited by KPMG, and domiciled in the Bahamas.
Parent company Mediatrix Capital will raise USD1 billion in investments into the new Mediatrix Capital Fund.
The primary focus of the fund is to trade the FX spot and complex OTC FX options strategies, through the Forex markets and trading mostly G-7 currencies, including the US, Japan, European Union, UK and Canada. Currently, the fund trades primarily in the off exchange OTC FX spot/options for currencies spot gold, silver, platinum and palladium.
Mediatrix Capital,
- 30/01/2017
E*TRADE Securities and E*TRADE Clearing are to jointly pay a USD280,000 civil monetary penalty to settle CFTC charges over non-compliance with applicable record-keeping rules and failure implement diligent supervision.
Both entities have their headquarters in Chicago, Illinois.
The CFTC order finds that between October 2009 and January 25, 2014, E*TRADE Securities did not preserve and maintain certain audit trail logs for their customers. Similarly, E*TRADE Clearing did not preserve and maintain customer audit trail logs after becoming registered as a Futures Commission Merchant in February 2013.
The order finds that by not preserving and maintaining these records, E*TRADE
- 27/01/2017
Quintillion, the European-based affiliate of US Bancorp Fund Services, has expanded its middle office services to include a specialised DTCC reconciliation offering for the OTC derivative and credit spaces.
Quintillion clients using DTCC (The Depository Trust & Clearing Corporation) for electronic confirmation services can now take advantage of a specialised reconciliation service provided by Quintillion.
Daily data from DTCC is now combined with enriched Quintillion portfolio information maintained within Advent Geneva, allowing the fund manager to outsource this function.
Many reconciliations use an extended range of match criteria necessary for fully identifying any OTC derivative or credit instrument
- 27/01/2017
US Commodity Futures Trading Commission (CFTC) general counsel Jonathan L Marcus is to leave the agency.
Marcus joined the CFTC in 2011 as deputy general counsel for litigation, and was promoted to general counsel in 2013.
Robert A Schwartz, currently the deputy general counsel for litigation and adjudication, will become acting general counsel.
CFTC acting chairman J Christopher Giancarlo says: “Jonathan is an accomplished lawyer, and I thank him for his expert legal advice during the time I have been a commissioner. I wish Jonathan and his family the very best. While I am sorry to see Jonathan
- 27/01/2017
- 27/01/2017
Linedata, a solutions provider to the investment management and credit industries, is to acquire Gravitas Technology Services, a provider of middle office and technology services to the hedge fund industry.
Gravitas is based mainly in New York and Mumbai.
Gravitas provides its services using a technology platform that integrates proprietary and third-party tools. Through outsourcing, its customers access services based on a variable, shared cost model.
With over 80 staff in the US and 180 in India, Gravitas supports over 80 asset managers of all sizes in North America.
In 2016, the company achieved revenues of USD26.5 million.
- 27/01/2017
- 27/01/2017
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