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Sat here writing this article in one of London’s many coffee shops there are at least half a dozen others tapping away on their MacBooks. By 2020, it is estimated that 40 to 50 per cent of the global workforce will work for themselves, in a freelance or independent consultant capacity, collaborating with people on platforms to deliver a particular service or solution.  Welcome to the gig economy, or sharing economy, that has seemingly been defined overnight by the incredible success of Airbnb and Uber, the e-hailing company.  These two companies, in particular, have completely changed the natural order of
Michel van Leeuwen, who has previously held leadership roles at Cordium and Microsoft Capital Markets, has joined Hawksford as group chief executive to lead the delivery of the firm’s growth plans. Hawksford’s growth strategy will see the business expand its core corporate, private client and funds service lines while simultaneously introducing additional ancillary services that benefit clients.   The growth strategy involves both organic growth and growth by acquisition. The company, backed by UK private equity firm Dunedin, plans to double its overall size and increase its geographical footprint over the next three to five years.   Van Leeuwen (pictured)
SC Distributors (SCD), a wholesale distributor of alternative investment offerings, has appointed PJ McDaniel as eastern divisional sales manager. In this role, McDaniel (pictured) will manage SCD’s sales and marketing initiatives in the Eastern US, including the oversight of the external wholesaling team.   McDaniel returns to SCD after having initially joined the company immediately after its inception, where he was both a wholesaler and sales manager.   Most recently, McDaniel served as managing director and national sales manager at Highland Capital Management where he was responsible for sales, as well as securing new selling agreements, within the independent broker/dealer
London-based investment manager Warwick Capital Partners has selected Wells Fargo Global Fund Services to provide administration, outsourced middle and back office operations and transfer agency services for the new Warwick European Opportunities Fund II. "Wells Fargo Global Fund Services continues to provide its expertise in administering complex credit strategies," says Matthew Coleman (pictured), chief operating officer and partner at Warwick Capital Partners. “In addition, its outsourced operations team enables us to invest in the full range of performing and distressed credit instruments in our portfolio. This decision further enhances our long standing relationship with Wells Fargo.”   "Warwick’s decision to
A new record volume has been set in futures contracts on the CBOE Volatility Index (VIX Index) traded in non-US trading hours, with an estimated 263,663 contracts changing hands. This record surpasses the previous single-day record of 235,141 contracts set during the overnight session on 24 June 2016, when UK voters decided that Britain should leave the European Union.   Last night’s jump in overnight trading volume followed a drop in global market prices after the results of the US Presidential Election began to favour a Donald Trump victory over an expected win by Hillary Clinton.   VIX options and
The US Commodity Futures Trading Commission (CFTC) has submitted a proposed consent order that would resolve its civil enforcement action in the US District Court for the Northern District of Illinois against Navinder Singh Sarao.  The CFTC complaint charged British futures trader Sarao, along with his company Nav Sarao Futures Limited, with unlawfully manipulating, attempting to manipulate, spoofing, and use of a manipulative device — all with regard to the E-mini S&P 500 near month futures contract.    In the proposed consent order, Sarao admits to the allegations in the CFTC complaint, as well as to findings of fact and
MMA Capital Management has entered into an agreement with an affiliate of TSSP, a special situations investment platform, to form a solar lending joint venture.  The joint venture will operate under the name Renewable Energy Lending (REL) and will provide financing for the construction and ongoing operations of solar power projects located throughout North America.   MMA Energy Capital (MEC), a wholly-owned subsidiary of MMA Capital, will provide loan origination and administrative services to REL. Kimberlite Advisors served as financial adviser in the formation of Renewable Energy Lending.   Michael Falcone (pictured), MMA Capital Management's chief executive officer, says: "We
Abacus Group, a provider of hosted cloud IT solutions for alternative investment funds, has welcomed the launch of the UK’s new National CyberSecurity Strategy, which includes stepped up efforts to combat data breaches, identify theft, fraud and money laundering in the financial services sector. Abacus says its services already meet or exceed these standards.   Abacus, which in October announced a major expansion of its services and the opening of a second data centre in London, provides cyber defences to its more than 400 clients in the alternative investment field globally.   Noting that the US Securities and Exchange Commission
Exchange Data International (EDI), in partnership with AlgoCircle, has launched the Economic Indicator Service (EIS), which expands its data coverage to include worldwide economic data. The new EIS aims to deliver professional economic content to financial institutions on both the buy and sell side, and service providers.   It currently covers 2,229 recurring macro-economic indicators, such as GDP data, unemployment releases and PMI numbers from 37 countries.   EDI is enhancing this service by adding additional countries, including Chile, Denmark, Egypt, Finland, Indonesia, Israel, Pakistan, Philippines and Taiwan.   Jonathan Bloch (pictured), CEO of Exchange Data International, says: “EIS represents
With interest rates remaining persistently low NAIC Schedule BA assets, which include alternative investment securities, have generally provided insurers with the potential for higher risk-adjusted returns to help mitigate the decline in higher portfolio book yields, according to a AM Best report. The report, “Hedge Fund Performance Has Insurers Reducing Exposure,” states that without a meaningful increase in interest rates, insurers have limited choices for investing new dollars from maturing securities and new business premiums to maintain targeted risk-adjusted returns. Therefore, the current industry trend toward modestly higher allocations to non-traditional asset classes is likely to continue.   Despite some

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