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The National Futures Association (NFA) has ordered The Cambridge Strategy Asset Management Limited, an NFA member commodity pool operator (CPO) and commodity trading adviser (CTA) located in London, to pay a USD60,000 fine.
The decision, issued by NFA's business conduct committee (BCC), is based on a complaint authorised by the BCC on 23 August 2016, and a settlement offer submitted by Cambridge.
The complaint alleged that Cambridge commingled offshore pool funds, distributed pool statements that contained errors, failed to receive funds in the name of the pool, failed to disclose the amount of all fees charged to pool participants,
- 07/11/2016
Moody Aldrich Partners (MAP) has acquired substantially all of the assets of Pittsburgh-based kWantix Trading and kWantix Trading Advisors.
In addition, MAP has entered into a long-term technology licensing agreement with kWantera, a Pittsburgh-based power market decision intelligence firm.
As part of the deal, Dr Kaiyu Shen, principal trader at kWantix, joins Moody Aldrich.
The business will continue to operate under the kWantix brand.
“The kWantix trading strategy is a unique quantitative addition to our platform,” says Eli Kent (pictured), managing partner of Moody Aldrich Partners, “its proven technology provides us with the foundation to develop an
- 07/11/2016
More than a third of asset managers plan on increasing investments in commercial loans, alternatives, derivatives, equities and mutual funds over the next 12-month period, according to a survey by SS&C Technologies.
The 2016 Global Insurance Asset Management Technology Outlook survey, which was conducted in Q2 2016, polled 100 insurance and asset management executives in accounting, finance operations, investments, and technology from around the globe.
Participants were asked to respond to 28 questions on current challenges, concerns, and the future direction of their asset management operations.
"Our 2016 survey shows that large insurers and other asset management firms
- 04/11/2016
International corporate, private client and funds business Hawksford has appointed Peter Cheesley as business development director.
Cheesley (pictured) joins from Nautilus Trust, where he was head of business development.
In his new role, which focuses on corporate, private client and fund services, he will be responsible for developing new business opportunities for Hawksford’s international offices in targeted regions.
“I am looking forward to growing the global business and enhancing Hawksford’s product offerings. Using the experience I have gained in the banking, legal and fiduciary sectors, I will focus on developing successful new business relationships and maximising revenue opportunities,”
- 04/11/2016
Orchard Street Investment Management has launched its third special situations fund, which will invest in commercial property opportunities across the UK.
Singapore's sovereign wealth fund GIC Private (GIC) is a principal investor of the fund.
The fund will have an initial GBP150 million investment capacity and will look to acquire assets across the UK.
Philip Gadsden, managing partner at Orchard Street, says: “For an investor of the scale and reputation of GIC to have selected Orchard Street a third time to launch a fund is a strong endorsement of the strength of our working relationship. We are confident
- 04/11/2016
Goldman Sachs Asset Management (GSAM) has launched an ETF seeking to track the Goldman Sachs Hedge Fund VIP Index, a proprietary index maintained by GSAM.
The index includes 50 “Very-Important-Positions” – US-listed stocks that most often appear in the top 10 holdings of over 650 hedge fund managers, managing over USD700 billion in equity.
GVIP is competitively priced to shareholders at 45 basis points (bps) and began trading on the NYSE Arca on 3 November with USD20 million in assets.
“We’re thrilled to be able to package these high conviction investment ideas from a broad array of professional
- 04/11/2016
- 04/11/2016
Online trading provider CMC Markets has increased its market share in the UK across all three product segments of financial spread betting (FSB), contracts for difference (CFDs) and foreign exchange (FX).
That's according to a survey of over 12,000 traders in the Investment Trends 2016 UK Leveraged Trading Report.
CMC Markets increased its market share in FSB from third to second position, from fourth to third position in CFDs and from fourth to third position in FX, all based on primary market share.
This growth has been driven by strong customer satisfaction, with CMC Markets achieving the highest rating
- 04/11/2016
- 04/11/2016
The Warsaw Stock Exchange (GPW) and ACI Polska (the Polish Financial Markets Association) have signed an agreement whereby GPW will take over as the fixing organiser of the WIBID and WIBOR reference rates.
GPW becomes both the reference rate fixing organiser and the calculation agent.
The agreement will enter into force upon its approval by the WIBOR board and after the acceptance of the amendment to the Rules for Fixing WIBID and WIBOR Reference Rates by banks (fixing participants).
GPW decided to take over as reference rate fixing organiser following a proposal issued by ACI Polska.
ACI
- 04/11/2016
Intercontinental Exchange’s ICE Futures Europe Low Sulphur Gasoil contract achieved a daily volume record of 766,054 contracts on 1 November 2016.
Volume in ICE Low Sulphur Gasoil-related contracts, such as the ICE Low Sulphur Gasoil/Brent Futures Crack and the ICE Heating Oil/Low Sulphur Gasoil Futures Spread also achieved daily records of 57,890 contracts and 10,164 contracts, respectively.
The strong growth in ICE Low Sulphur Gasoil futures volume is driven by rising hedging demand from European refineries to meet winter diesel specifications and increasing hedging activity in cross-Atlantic diesel arbitrage flows.
The ICE Low Sulphur Gasoil futures contract is
- 04/11/2016
Arthur J Gallagher has extended its capabilities in credit and political risks insurance with the appointment of Rupert Boyle and Nick Ollerenshaw as executive directors.
Both report to Mark Gubbins (pictured), managing director of the specialist structured credit and political risks practice, and are based in London.
Boyle and Ollerenshaw join from JLT and bring over 45 years’ experience to Gallagher. They will use their experience and expertise to develop business with a particular emphasis on structured corporate and trade finance, protection of assets and investments, counterparty and performance risk.
Gubbins says: “In the current geopolitical environment, structured
- 04/11/2016
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