Digital Assets Report

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The UK’s HM Revenue & Customs (HMRC) has designated the Gibraltar Stock Exchange (GSX) as a recognised stock exchange under the Income Tax Act 2007 (ITA). The designation extends to the entire Gibraltar Stock Exchange and is a significant development that allows GSX to expand its services and offering to issuers.   In particular, HMRC recognition extends eligibility to the UK SIPPs and ISAs market for GSX-listed securities.   The decision follows recognition of GSX by ESMA in January 2015 and the Cayman Islands Monetary Authority (CIMA) in March 2015.   Nick Cowan (pictured), managing director of GSX, says: “GSX’s
Governance, risk and compliance services provider Cordium has appointed Stephen Squire (pictured) as vice president, head of broker-dealer consulting. Squire will be working out of Cordium’s San Francisco office.   Squire brings a wealth of insight into the broker-dealer space based on two decades of experience in the industry. Prior to joining Cordium, Squire worked at FINRA while attending law school. He has also served as the head of legal and compliance for a variety of broker-dealers and investment advisers.   His experience also includes tenures with several regional securities firms throughout the country. In 2013, Squire started his own consulting
The Chicago Board Options Exchange (CBOE) is planning to launch options on the FTSE Emerging Index on 26 September 2016.  The FTSE Emerging Index is a market-capitalisation weighted index representing the performance of large and mid-cap companies from advanced and secondary emerging markets.   The FTSE Emerging Index (FTEM) includes approximately 972 securities from 22 countries, as of 31 August 2016, and covers a range of industries, from commodities to banking to technology.   The index is derived from markets within the FTSE Global Equity Index Series (GEIS), which gives investors a comprehensive way to measure the performance of the
TMX Market Insights has named John Willock as director, TMX Datalinx – the company’s real-time data offering – effective 26 September 2016. Reporting directly to Eric Sinclair (pictured), president, TMX Market Insights and group head of information services, TMX Group, Willock will be responsible for managing the suite of TMX Datalinx real-time products and services, including all equities, derivatives and TMX Information Processor feeds.   “John brings vast international experience in market data to the TMX Market Insights team,” says Sinclair. “We are extremely excited to have him join TMX and look forward to incorporating his unique perspective into how
KCG Holdings has completed the acquisition of Neonet Securities, an independent agency broker and execution specialist based in Stockholm, Sweden. The Neonet business, which will operate as a subsidiary of KCG and be renamed KCG Neonet, will continue to be based in Stockholm and led by CEO Tim Wildenberg.     KCG Neonet provides clients with global execution services and capabilities, leveraging KCG’s expanded foothold in continental Europe and the technologies of both businesses.      Philip Allison, chief executive officer of KCG Europe, says: “Neonet’s talented team of specialists and commitment to client service make them an ideal strategic
Lyxor Asset Management has expanded its alternative UCITS offering by teaming up with Kingdon Capital Management to launch the Lyxor/Kingdon Global Long-Short Equity Fund. The launch sees Kingdon become the first global equity manager with daily liquidity on Lyxor’s UCITS platform.   The fund focuses on improving the equity diversification of investors’ portfolios by maintaining a portfolio invested across different geographies and industries, using a combination of long and short investments and actively managing the fund’s market exposure. The fund seeks to achieve attractive risk-adjusted returns with lower volatility than equity markets.   With a performance history of more than
Grassi Fund Administration Services (GFAS) has launched a compliance and regulatory services division. GFAS provides compliance and regulatory services to enable its clients to establish and maintain rigorous compliance programmes, risk assessments, mock audits and anti-money laundering and KYC services.   Using a collaborative approach to client’s specific requirements, GFAS can serve as a complete outsourced compliance resource. It provides regulatory services including registration services; Form ADV (Parts 1&2); Form PF; FATCA; Schedule 13F and other regulatory filings; regulatory reviews and governance; disclose requisite state and federal registration changes; and annual reviews.   The compliance programme includes consulting to help
Hedge fund launches and liquidations both declined in the second quarter, as hedge funds posted steady gains through a volatile quarter, driven largely by the Brexit vote.  New hedge fund launches totalled 200 in Q2 2016, down slightly from 206 in the prior quarter and 252 in Q2 2015, according to the latest HFR Market Microstructure Report.   Hedge fund liquidations totalled 239 in Q2 2016 compared to 291 in the prior quarter and 200 liquidations in 2Q 2015.   Liquidations exceeded launches for the third consecutive quarter, but the recent data shows the narrowest margin of contraction (39 funds)
Dynamic Credit, an alternative fixed income asset management and advisory firm, has selected ClearStructure Financial Technology's portfolio management solution, Sentry PM, to support its growing ABS and corporate credit business. Dynamic Credit was using an in-house built solution to monitor and manage their portfolios.   Sentry PM's ability to grow and scale along with Dynamic Credit was an attractive component in addition to Sentry's connection to their current data providers.   The implementation of Sentry PM will deliver further efficiency, transparency and control to Dynamic Credit's front, middle, and back office operations.   Sentry PM's coverage of alternative fixed income
The Hedgeweek USA Awards 2016, presented on 15 September in NYC, brought together the leading names in the US hedge funds industry to celebrate the achievements of the best performing managers and service providers. While the markets continue to pose challenges for both managers and investors, the industry is reaping the benefits of responding positively to growing regulatory demands while focusing on generating non-correlated results for investors. The awards were determined by the votes of Hedgeweek's subscribers, who include institutional investors, wealth managers, fund managers and other industry professionals at firms including fund administrators, prime brokers, custodians, law firms, custodians and advisers.

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