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The National Settlement Depository (NSD), Russia’s central securities depository, has signed a memorandum of understanding with China Securities Depository and Clearing Corporation (CSDC), which provides services to the Shanghai Stock Exchange and the Shenzhen Stock Exchange.
The parties agreed to exchange experience and information, and to develop cooperation in the sphere of depository and settlement operations, operational interactions via correspondent accounts (links), corporate action processing, and information services.
Eddie Astanin (pictured), chairman of the executive board, NSD, says: “The Asian region is a very important element for full-scale integration of Russia’s post-trade infrastructure into the global financial system. Together
- 26/10/2016
Datactics, a provider of data quality and matching software, has appointed Owen Chuck as sales director and Alex Brown as product manager.
It follows on from the appointment of ex-UBS director Mick Foster to the company board and hire of regulations specialist Luca Rovesti earlier this year.
The London-based senior appointments are aimed at further strengthening the firm’s senior team and reinforce its capacity to meet increasing demand from clients for its risk, entity and instrument data solutions in London and across Europe.
Increased market interest in Datactics software for the purpose of regulatory reporting and metrics has
- 26/10/2016
The European Corporate Debt Private Placement (ECPP) Joint Committee, coordinated by the International Capital Market Association (ICMA), has launched an updated version of the European Corporate Debt Private Placement Market Guide.
The guide sets out a voluntary framework for common market standards and best practices which are essential for the further development of the ECPP market providing medium to long term finance especially to European mid-sized companies, in close alignment with the European Commission’s goal of bringing about a Capital Markets Union.
By the end of 2015, the ECPP market was estimated at EUR33 billion including German Schuldschein issuance.
- 26/10/2016
Adding leverage to an alternative investment fund does not necessarily increase the risk, according to a study by the Alternative Investment Management Association (AIMA) and the CAIA Association.
The AIMA/CAIA study suggests that there is no direct relationship between hedge fund leverage and the volatility and downside risk of fund performance.
For example, funds that typically have the highest leverage ratios of all hedge funds – those using relative value or arbitrage strategies – have lower volatility on average and have suffered smaller losses during crises and other periods of market stress over the last 20 years.
Equally,
- 26/10/2016
Risk management has mutated under AIFMD, causing risk managers to become more involved in the portfolio management process from an ex ante risk perspective. As investors become more educated on the risk function, managers who can demonstrate an independent, robust risk management environment have the potential to improve their capital raising capabilities.
Historically, risk management has always been viewed as a tactical function within hedge funds and has tended to operate in the background. But AIFMD regulation and increased investor due diligence is making risk management a more strategic function, causing risk managers to become increasingly involved in the capital
- 25/10/2016
Tikehau Capital is to manage the investments of Lyxor’s European senior debt funds in a deal which expands Tikehau’s leveraged loans and CLO business from EUR1.9 billion in assets under management to EUR2.6 billion, raising its total AUM to EUR9.8 billion.
Under the terms of the deal, Tikehau Investment Management, the asset management arm of Tikehau Capital, will replace Lyxor UK as investment manager of Lyxor’s four European senior debt funds, with a total of EUR700 million in AUM.
Under this agreement, Lyxor UK’s European senior debt operational team will join Tikehau IM in London. Lyxor will remain the
- 25/10/2016
Linedata, a software solution provider to the investment management and credit industries, has released the latest version of Linedata Icon, the firm’s flagship fund accounting solution.
Linedata says the latest release is part of the continuing programme of functional and technological evolution and builds on the broad and deep functionality offered by Linedata Icon and follows on from recent releases which have introduced new functionality with enhanced instrument coverage and regulatory compliance.
An extension to corporate actions processing allows clients to see both an Accounting Book of Records (ABOR) and an Investment Book of Records (IBOR) and to provide
- 25/10/2016
The Thomson Reuters and Singapore Exchange Singapore Fixed Income Indices (TR/SGX SFI) have been selected as the recommended fixed income benchmark by United Overseas Bank (UOB) following the discontinuation of the UOB SGS Index.
Launched in 2013, the TR/SGX SFI offer a solution for tracking the performance of investments in the Singapore debt markets. They offer wide coverage of over 60 government, statutory board and corporate bond indices, and a time-specific assessment of the fair market value of SGD bonds, which are priced objectively and independently by the Thomson Reuters Evaluated Pricing Service.
Stephan Flagel (pictured), global head of
- 25/10/2016
Managed futures traders lost 0.40 per cent in September, according to the Barclay CTA Index compiled by BarclayHedge.
The index is up 0.10 per cent year to date.
“The US Fed, in spite of its hawkish tone, opted to hold rates steady which roiled financial markets,” says Sol Waksman (pictured), founder and president of BarclayHedge.
Seven of Barclay’s eight CTA indices had losses in September. The Diversified Traders Index was down 0.83 per cent, Currency Traders lost 0.78 per cent, Systematic Traders were down 0.40 per cent, the Financial/Metals Traders Index lost 0.22 per cent, and Discretionary Traders
- 25/10/2016
The Direxion Indexed Commodity Strategy Fund (DXCTX) has received a 5-star Morningstar Rating as of 30 September 2016.
The fund tracks the performance of the Auspice Broad Commodity Index, a quantitative long/flat index that can be exposed to up to 12 major commodities in the energy, metal, and agricultural sectors.
"Most traditional commodity funds provide static long-only exposure to commodities. This limits their potential to contribute to a portfolio's long-term performance because there's no way to get defensive," says Ed Egilinsky, head of alternatives for Direxion. "The long/flat approach makes the fund potentially more adaptive to volatile commodity markets."
- 25/10/2016
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