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The London Metal Exchange (LME) and Henry Bath, whose shareholders include CMST Development and Mercuria Energy, have set up a pilot programme for the launch of the LMEshield commodities safeguarding system in China. During the pilot programme, which will run for a period of one year, Henry Bath will issue receipts on the LMEshield system.   Receipts will initially be issued for bonded warehouses in Shanghai, with the intention of expanding to other Chinese locations.   The deployment in the PRC is based on the existing LMEshield system, allowing commodities owners and lending banks to hold and finance Chinese commodity
Nasdaq and SIX Swiss Exchange have extended their current technology contract, which includes X-stream INET Trading technology for all SIX markets, including equities, ETFs, structured products, funds and fixed income, as well as SMARTS Market Surveillance and Nasdaq Pre-Trade Risk Management. In addition, the new SIX Swiss Exchange At Midpoint (SwissAtMid) dark pool was launched on Nasdaq trading and surveillance technology earlier this month.   The two companies have been partners for more than 10 years.   "We are delighted to extend our successful technology relationship with Nasdaq," says Christoph Landis (pictured), division CEO, SIX Swiss Exchange. "Our broadly diversified international client base
Object Trading, a provider of multi-asset trading infrastructure, has been fully approved by BM&F Bovespa in Sao Paulo as a conformed ISV to handle market data, order entry and pre-trade risk constraints via its Direct Market Access (DMA) platform for its clients and partners. BM&F Bovespa’s recent requirements for direct connections, in lieu of order routing partnerships, take effect today.   Buy-side firms in Brazil and internationally will continue to seek and find deep liquidity in BM&F Bovespa’s futures and options contracts in interest rates, FX and equity index products.    Further, these firms will need to keep pace with
Oaktree Capital Group has appointed Steven Gilbert to its board of directors, effective 24 October 2016. Gilbert is the founder and chairman of the board of institutional investment firm Gilbert Global Equity Partners.   Howard Marks, Oaktree’s co-chairman, says: “Over three decades, Steve has had an impressive career in private equity investing, investment banking, investment management and law. Additionally, he has owned and operated businesses as well as served as a corporate director for numerous companies. We are excited to welcome Steve to our board and look forward to benefiting from his insight and experience.”   “It is a privilege to
CBOE Holdings has reported net income allocated to common stockholders of USD40.3 million, or USD0.50 per diluted share, for the third quarter of 2016, compared with USD67.2 million, or USD0.81 per diluted share, in the third quarter of 2015.   Last year's third quarter financial results represent an all-time high for the company, while this year's results include USD8.6 million of acquisition-related expenses.    Adjusted net income allocated to common stockholders was USD47.2 million, or USD0.58 per share, compared with USD63.0 million, or USD0.76 per share, for the third quarter of 2015.    Operating revenue for the quarter was USD156.2 million,
Bitcoin asset manager Global Advisors (Jersey) has appointed custodians and extended the trading powers for its flagship fund, Global Advisors Bitcoin Investment Fund (GABI). Co-founder and chief investment officer Daniel Masters says the new developments pave the way for the GABI to list on the Channel Island Securities Exchange, which is anticipated to occur this November.   The bitcoin custodians for the fund are Gemini Trust Company and itBit, both US-domiciled New York State-charted limited purpose trust companies that are regulated bitcoin custodians. In addition to meeting the capitalisation, reserve, compliance, consumer protection and cyber-security requirements of the New York
Millennium Trust Company, a provider of custody solutions for institutions, advisers and individuals, has expanded its fund custody solution to include custody for registered investment companies ('40 Act Funds) as well as verification services. "Millennium's fund custody solution was created in late 2010 to address advisers' need to comply with the SEC Custody Rule 206(4)-2, and to create much-needed transparency for the end investor," says Gary Anetsberger (pictured), CEO of Millennium Trust. "The services quickly attracted adviser-controlled funds investing in alternative assets such as marketplace loans, private equity, hedge funds as well as traditional assets.”   The solution now supports
Jeff Parker has joined Wall Street Horizon, a provider of corporate event dates and information for institutional investors and traders, as an investor and advisory board member.   Parker (pictured) has been an entrepreneur, chief executive and investor in financial information and analytics companies.   He founded and served as CEO for Technical Data Corporation, Thomson’s First Call and CCBN.com (Corporate Communications Broadcast Network). He also served as chairman and CEO of Thomson Financial from 1988 to 1991.   Parker is currently a venture partner with GrandBanks Capital (Boston), chairman of the board of Mainstream Data (Salt Lake City) as well
The Warsaw Stock Exchange will reduce exchange members fees on transactions on the GPW Main Market and the NewConnect ATS as of 1 November 2016. The fee reductions for brokers include a reduction of the fixed fee on an order and a reduction of the monthly fee for displaying the best bid/ask prices for retail investors.   The fee reduction is a promotion with no set end date, applicable to all broker orders executed on the Electronic Order Book and as block trades in shares, rights to shares, and ETF units.   The most significant reduction concerns small orders, e.g.
Managed futures have become an alternative asset class that is widely used by investors seeking overall portfolio diversification and absolute returns independent of the direction of broad equity and bond markets, according to a study by alternative investment managers Steben & Company. In a new white paper examining the performance of managed futures funds, the firm writes: “The most common managed futures trading strategy is trend following, a strategy that attempts to exploit momentum in more than 200 global futures markets (including commodities, equities, fixed income, and currencies) by taking long positions in rising markets and short positions in falling markets.”   Steben writes

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