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Pacific Fund Systems (PFS), a provider of fund administration software to hedge funds and private equity funds, has made two appointments to its European operations team. Erich Carshagen, a senior business analyst within the PFS group, has relocated to PFS’ new European offices headquartered in the Isle of Man.   Carshagen will be working with Martin Heaney, PFS’ senior business analyst and head of testing, and the business analyst team across the PFS group, and will continue to provide client training and supporting materials, migration assistance, support, design specifications for new developments and enhancements, and system testing. Carshagen is a
The European Energy Exchange (EEX) has determined the auction calendar for the auctions of EU allowances (EUA) and EU aviation allowances (EUAA) to be held on the successor EU common auction platform (CAP2), in accordance with the EU Auctioning Regulation. The CAP2 auctions, which are conducted under a new service contract awarded to EEX last month, will start on 5 September 2016. Until the end of this year, a volume of 159 million emission allowances is scheduled to be auctioned off on behalf of 25 EU member states.   The timing of the auctions will be the same as for
Fund administration provider MainstreamBPO is to acquire New York-based hedge fund administration business Fundadministration. Fundadministration is a US full-service fund administration firm that works with emerging and established hedge fund managers, registered investment advisers and traders.   The firm administers 140 funds for 45 clients with funds under administration (FUA) of USD5 billion.   All of Fundadministration’s existing staff will join MainstreamBPO with Fundadministration CEO Denise DePaola to join the group’s executive team and become the CEO of MainstreamBPO’s US operations.   The acquisition is part of Australian based MainstreamBPO’s growth strategy of expanding into key fund services markets, with
Managed futures traders gained 0.37 per cent in July, according to the Barclay CTA Index compiled by BarclayHedge. The index is up 2.12 per cent year to date.   “July’s global equity rally proved to be the major source of profits for many CTA portfolios,” says Sol Waksman (pictured), founder and president of BarclayHedge.   Five of Barclay’s eight CTA indices had positive returns in July. The Diversified Traders Index gained 0.73 per cent, Systematic Traders were up 0.50 per cent, and Financial/Metals Traders gained 0.24 per cent.   “On the commodity side, long precious metals and short energy positions
TIM Group, a provider of software, services and platforms for institutional investors, has added three new staff members to work in its New York office. Christopher Kleparek joins the team from Thomson Reuters where he was responsible for growing and maintaining strategic relationships in the capital markets community.   Jay Goldenstein joins from RavenPack International where he specialised in quantitative data products.   Austin Mueller previously worked at Informa Investment Solutions, helping clients identify best reporting solutions.   The trio will focus on business development and managing client relationships for TIM Group.   The business development team is led by
Bats Europe has made available for testing on its platform its MiFID II compliant process for order record keeping, which the exchange is proposing as the industry approach to encourage harmonisation. Bats is also making available a range of enhancements to facilitate further user testing of their algorithms.   To be compliant with MiFID II rules, and specifically the order record keeping requirement known as “RTS 24”, trading venues will have to record considerable amounts of data throughout the trading day. This presents Bats and other trading venues and their users with a challenge: how to capture and store sensitive
BSE – formerly Bombay Stock Exchange – is now supported by Redline’s market data and order execution gateway solutions, enabling firms trading on the exchange to receive and act upon real-time price and order book information faster than before. “Our support for BSE brings Redline’s high-performance technology to one of the world’s fastest exchanges,” says Mark Skalabrin, CEO of Redline Trading Solutions. “Adding BSE is an important step in expanding our support for global exchanges.”   Redline’s InRush feed handler was written to the low-latency Enhanced Order Book Interface (EOBI) protocol, which BSE adopted as part of its multi-year partnership
Satuit Technologies, a provider of software solutions for the professional investment market, has partnered with CenturyLink to offer cloud-based hosting of its SatuitCRM and SatuitCRA software. As part of this change, database infrastructure will be upgraded to SQL 2012.   In addition to allowing Satuit to upgrade the infrastructure and its security features, the new partnership will allow Canadian clients to use a Canadian site to host their SatuitCRM data.   The migration of client sites began in late July. All remaining client databases will migrated to the new partner by early autumn.   “We have been working intensively with
Agency-focused brokerage and trading services provider Convergex has enhanced its recently launched Small Cap Algorithm by improving the algo's fair price model. This enables traders to source as much liquidity as possible in less liquid names while minimising impact in the market place.   Convergex's Small Cap Algorithm rests completely hidden in over 15 ATSs, yet will exit the market when it senses that it is signalling its presence in the market place. The algorithm will then return to the market when it determines that it is advisable to re-engage. Meanwhile, block executions are continuously analysed for the potential execution
Australian hedge funds have recovered from the outflows which occurred during the global financial crisis, according to industry stalwart Kim Ivey (pictured), now an adviser to hedge fund managers and family offices. He says that some are having a particularly good year now thanks to the extra volatility from the nervousness over China and the ramifications of Brexit.   Ivey, a founder of the annual Hedge Funds Rock & The Australian Hedge Fund Awards charity night, which is in its 15th year and is due to be held at Sydney’s Ivy Ballroom on 15 September, says trend-following strategies such as

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