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Global law firm K&L Gates has added Sasha Burstein as a partner in the firm’s investment management, hedge funds and alternative investments practice in San Francisco.
She joins K&L Gates from Paul Hastings.
Burstein counsels investment advisors and institutional investors on matters involving private investment funds, including hedge, private equity, and hybrid funds. She advises on legal and regulatory matters such as registration and operation, mergers and acquisition transactions, and regulatory compliance, as well as the structuring, negotiating, and documenting of alternative investments.
“We are extremely pleased that Sasha has joined us,” says Edward Sangster, administrative partner of K&L Gates’
- 24/08/2016
The US Commodity Futures Trading Commission (CFTC) has charged Deutsche Bank with failing to report any swap data for multiple asset classes for five days, submitting incomplete and untimely swap data, failing to supervise its employees responsible for swap data reporting, having an inadequate business continuity and disaster recovery plan and violating a prior CFTC order.
As alleged in the CFTC’s complaint, on 16 April 2016 Deutsche Bank’s swap data reporting system experienced a systems outage that prevented Deutsche Bank from reporting any swap data for multiple asset classes for approximately five days.
Deutsche Bank’s subsequent efforts to end
- 24/08/2016
Exchanges are recognising the changing futures commission merchant (FCM) landscape and are willing to look to new and innovative ways to serve their client base, according to a report by TABB Group.
The CME Group is the latest to propose a direct clearing option for its end users as Direct Funding Participant (DFP) members, following the similar ISA Direct initiative launched by Eurex Group earlier this year.
Tom Lehrkinder, author of Clearing House Calculus II: Exchanges Expand the Boundaries of Self Clearing, explains futures clearing has reached an inflection point that has forced exchanges and clearing houses to take
- 23/08/2016
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
- 23/08/2016
- 23/08/2016
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
- 23/08/2016
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
- 23/08/2016
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
- 23/08/2016
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
- 23/08/2016
- 23/08/2016
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
- 22/08/2016
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
- 22/08/2016
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