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Nasdaq has extended its contract with BM&F Bovespa – the largest stock exchange in Latin America – for the use of the SMARTS Market Surveillance platform across Brazil's equities, commodities and futures markets. Nasdaq has been working with BM&F Bovespa since 2011, helping to detect irregularities and market abuse in the Brazilian market.   As well as continuing to provide high quality market surveillance solutions, Nasdaq will be upgrading the exchange to the latest version of SMARTS, which includes a broad set of enhancements such as new modules, improved performance and capacity, and new visualisations to aid investigation.   "We
After a drawdown in June due to the market turmoil surrounding the Brexit vote, the UCITS HFS Index bounced back in July, reporting gains of 0.75 per cent. The broad index started the month with a positive performance of 0.32 per cent after the first full week of trading. Maintaining that momentum, week two brought additional gains of 0.30 per cent.   The UCITS HFS Index slowed down in the second half of the month, but week three and four still saw the increases of 0.11 per cent and 0.03 per cent, respectively. Of all funds tracked 76.23 per cent
Hedge funds investing in Latin America posted strong gains through mid-2016, reversing declines in four of the past five years, including the last three years, to lead all areas of hedge fund performance through the first half of 2016. That’s according to the latest HFR Emerging Markets Hedge Fund Industry Report, which reveals that the HFRI EM: Latin America Index having surged 8.9 per cent in Q2, and added another 4.3 per cent in July.   This brings its year-to-date performance to +24.4 per cent for 2016.   Capital invested in emerging markets hedge funds rose to conclude Q2 2016
Norrep Capital Management has appointed Wan Kim as senior vice president, national sales and marketing. Kim has over 20 years of experience in the investment industry. Prior to joining Norrep, he was at a large financial institution where he managed external wholesalers supporting 27,000 active financial advisers in all channels (IIROC, MFDA, AMF, and MGAs) using bank products.   Previously, Kim led the sales teams at three other national fund companies where he held the role of senior vice president, national sales. Kim led a sales team to 54 consecutive net positive months of sales of mutual funds from 2004
All six of IndexIQ’s family of IQ hedge absolute return indices recorded a positive performance in July. The IQ Hedge Market Event Driven Index led the way with a return of 2.77 per cent for the month, followed by the IQ Hedge Long/Short Index which was up 2.59 per cent and the IQ Hedge Global Macro Index, up 1.13 per cent.   The IQ Hedge Multi-Strategy Index, the IQ Merger Arbitrage Index and the IQ Hedge Market Neutral Index recorded returns of 0.93 per cent, 0.64 per cent and 0.29 per cent, respectively.   “We saw markets relax a little
European exchange group Euronext is to acquire a 20 per cent stake in central counterparty EuroCCP for around EUR14 million, subject to closing adjustments. This follows the announcement on 12 May confirming Euronext was in exclusive talks to acquire a stake in EuroCCP.   The completion of the transaction is subject to regulatory approvals and the deal is expected to close towards the end of the year.   The transaction will enable Euronext to offer user choice in clearing for the equity markets within the Eurozone, through the implementation of a preferred CCP model followed by a fully interoperable service,
CBOE Futures Exchange (CFE) has been approved as a Registered Market Operator (RMO) by the Monetary Authority of Singapore (MAS). CFE may now allow professional investors, accredited investors and expert investors, as defined under Singaporean law, to become CFE Trading Privilege Holders (TPHs) and access CFE’s market directly.   A growing number of market participants from outside the US are trading CBOE Volatility Index (VIX) futures, which trade on CFE nearly 24 hours, five days a week.   In addition to offering VIX futures in non-US trading hours, direct access to CFE’s market in Singapore enables CFE to further expand
Edwin Chin, the former head trader in residential mortgage-backed securities (RMBS) at Goldman Sachs, is to be barred from the securities industry and pay USD400,000 to settle charges that he repeatedly misled customers and caused them to pay higher prices.   An SEC investigation found that Edwin Chin generated extra revenue for Goldman by concealing the prices at which the firm had bought various RMBS, then re-selling them at higher prices to the buying customer with Goldman keeping the difference.    On other occasions, Chin misled purchasers by suggesting he was actively negotiating a transaction between customers when he was merely
The latest Hedge Fund Tracker analysis from S&P Global Market Intelligence shows the top funds managed approximately USD150 billion in equity holdings, up from the USD141 billion under management in the first quarter.  These funds also decreased the number of positions to 399 in the second quarter from 408 in the second quarter, breaking last quarter’s record as the fewest stock positions held since S&P Global Market Intelligence began tracking this data in 2014.  Information technology and healthcare sectors were the biggest net sells for the top ten hedge funds.   “Like other market participants, hedge funds were at the
Corporate credit specialist Muzinich & Co has added to its European syndicated loans team with the appointment of Torben Ronberg, Stuart Fuller, Sam McGairl and Alex Woolrich. Muzinich & Co says expansion of its team forms part of a global effort to invest across the capital structure and provide compelling investment opportunities for investors.   The trio joins from ECM Asset Management, a subsidiary of Wells Fargo.

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