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The European Energy Exchange (EEX) has conducted the first primary market auction under the new CAP2 contract on behalf of the participating 25 EU member states. In the auction, 3,664,000 EU Allowances (EUAs) were sold at a price of 4.02 Euro/EUA.   The total bidding amount was 6,705,000 EUA which means that participants demanded more than two-fold the determined volume.   In July, the European Commission has signed a contract with EEX and its clearing house European Commodity Clearing (ECC) for running European-wide primary market emissions auctions for another period of up to 5 years. Until the end of this
August was characterised by muted volumes and volatility across most asset classes. Hedge funds generated small, positive returns, with the HFRX Global Hedge Fund index gaining 0.2 per cent for the month.   GAM portfolio manager Anthony Lawler, says: “The headline hedge fund index eked out a small gain and continues its winning streak, now positive for each of the past six months. However, the strategy level indices generated mixed performance, with event driven traders the main beneficiaries of ongoing market stability, while the HFRX Macro/CTA Index was a notable detractor as several trends stalled and reversed.”   The HFRX
European Commodity Clearing (ECC) has introduced a new membership model – the Direct Clearing Participant Model (DCPM). The new model will allow trading participants to have direct access to trading and clearing of spot markets without the requirement of a clearing member which enables a greater number of players, in particular the smaller participants, access to wholesale spot markets and further increasing depth of liquidity.   Initially, the model will be available to the Dutch and Belgian EPEX power spot markets with France, Germany, Switzerland and Austria scheduled to follow by the end of 2016.   It will be extended
Just one of the MVIS family of six investable long/short equity indices recorded positive performance in August. The MVIS Emerging Markets Long/Short Equity Index recorded a return of 0.15 per cent while the other five indices all finished the month in negative territory.   The month’s biggest loser was the MVIS Asia (Developed) Long/Short Equity Index, down 0.84 per cent, followed by the MVIS Global Event Long/Short Equity Index and the MVIS Western Europe Long/Short Equity Index (both -.0.17 per cent), the MVIS Emerging Markets Long/Short Equity Index and the MVIS Global Long/Short Equity Index (both -0.15 per cent) and
Cowen Prime Services prepares to launch its platform in London in the coming weeks with prime brokerage and outsourced trading, among the high-touch services that will be on offer to European hedge fund managers. London is the latest focus of attention for Cowen Prime Services as it looks to expand its network beyond North America.  “We believe that there is a real opportunity for Cowen Prime Services to enter the European market and be successful. Since Concept Capital Markets LLC was acquired by Cowen Group, Inc., last September, we’ve continued to invest heavily in the business,” comments Mike Rosen, Cowen’s
Avelacom has established a point of presence (PoP) in the new DataSpace data centre in close proximity to the Moscow Exchange (MoEx), allowing the firm to optimise customer access to the exchange’s electronic systems. DataSpace, Russia’s first Uptime Institute certified Tier III Gold data centre, will begin serving as a primary data centre facility for MoEx from November 2016.   Between now and the end of October, Avelacom, will be helping its clients to move their low latency infrastructure from current data centres to DataSpace.   Avelacom has also optimised its metro area fibre network to shorten route distance from
Aquila Capital is expanding its advisory board with the appointment of Daniel Just (pictured), chairman of the executive board at Bayerische Versorgungskammer (BVK), Germany’s largest public pension fund. Just has chaired the executive board at BVK since 2013 and previously headed BVK’s asset management division.   Under his tenure the pension fund established real asset investments as an integral part of its portfolio allocation and was one of the first signatories to the UN principles for responsible investment (UN PRI).   Bayerische Versorgungskammer is the competence and service centre for occupational and communal pension schemes. As a public authority of
Fixed income manager BlueBay Asset Management has appointed Mark Bathgate as portfolio manager to its investment grade team. Reporting to Mark Dowding (pictured), partner and co-head of investment grade, Bathgate’s experience in macro-risk-taking around interest rates and government policy will be used across all strategies in the team, providing investment input at a macro level.   BlueBay’s investment grade team invests across sovereign and corporate debt in long only and hedge fund strategies and manages in excess of USD24 billion.   Dowding says: “In the current market environment, investment fundamentals have given way to macro impacts for the large part
Alternative investment management firm PAAMCO has appointed hedge fund veteran Basil Williams as managing director. During the next year, he will transition into head of portfolio management, succeeding David Weinberger who plans to retire in mid-2017.   Williams, who was most recently co-chief investment officer of Mariner Investment Group, cites the innovation at PAAMCO as the key driver for him in joining the firm.   "Whether it is providing alternative absolute return portfolios, solving an LDI challenge or constructing bespoke completion portfolios for traditional asset class allocations, PAAMCO has become the go-to firm for the world's most sophisticated institutional investors,”
Man Group has introduced a new senior management structure alongside a number of internal promotions, following the naming of Luke Ellis as chief executive officer (CEO). The internal management changes will reallocate certain responsibilities, in line with the growth and diversification of the business.   Jonathan Sorrell’s role as president of Man Group has developed to include a number of areas across the business and the intention is that he will step down as the chief financial officer (CFO), following an orderly transition to the new CFO.   Under his new remit as president, Sorrell will focus alongside Ellis (pictured)

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