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The Managed Funds Association (MFA) has submitted a comment letter in support of the Commodity Futures Trading Commission’s (CFTC) proposed rules on the mandatory clearing of certain additional interest rate swap classes.
“We strongly support the CFTC’s proposal and its continued efforts to move sufficiently standardised and liquid swap transactions from the over-the-counter market to mandatory central clearing,” says MFA president and CEO Richard H Baker (pictured). “We believe that expanding clearing, as proposed in this rule, will further increase transparency and competition, reduce risk, enhance market integrity, and facilitate the harmonisation of clearing requirements across the globe.”
The
- 19/07/2016
Japan Exchange Group (JPX) has gone live with a new Nasdaq-powered trading system for its subsidiary, Osaka Exchange.
"We are proud to be supporting JPX as they successfully launch their new trading system on the Osaka Exchange," says Lars Ottersgård, executive vice president, market technology, Nasdaq. "As JPX continues to expand its business both regionally and globally, the technology they've implemented will provide the flexibility and performance capabilities, as well as the risk and surveillance solutions, to help the exchange group meet and exceed their growth plans."
The trading system is designed to provide the Osaka Exchange with higher performance,
- 19/07/2016
EBS BrokerTec, ICAP's electronic foreign exchange (FX) and fixed income business, has appointed Jim Iorio as global head of sales.
He will also sit on EBS BrokerTec’s executive management committee.
Based in New York, Iorio will be responsible for all sales across both the EBS and BrokerTec platforms, spanning multiple asset classes and products. He will report to Gil Mandelzis, CEO of EBS BrokerTec.
Iorio joins EBS BrokerTec from Barclays where he was global head of currency and commodities distribution. During his career at both Barclays and Lehman Brothers, he has held a wide variety of senior roles
- 19/07/2016
Boutique asset manager Unigestion has launched a long/short strategy, the second of two factor funds created in collaboration with its client Railpen, which were announced in January.
The first of the strategies, the long only “Equity Compass” strategy, which launched in December 2015, has attracted GBP50 million of assets and has returned 5 per cent in the first six months since launch, outperforming its benchmark by more than 3 per cent.
Following this success, the long /short “Alternative Equity Compass” strategy was launched mid-May 2016 and the strategy has already proven successful, having performed well during the days following
- 19/07/2016
BCP Asset Management and Apex Fund Services have signed a partnership agreement for fund administration services.
As part of the recent acquisition of four High Street buildings in a prime Dublin 2 location by BCP and Meyer Bergman, BCP has launched two new funds with global independent administrator Apex Fund Services: The Kells Investment Fund I and Kells Investment Fund II.
The BCP acquisition was in partnership with Meyer Bergman and is valued in excess of EUR100 million.
BCP, an independently owned investment manager in the Irish market, has over EUR2 billion in assets under management. Apex Fund
- 18/07/2016
- 18/07/2016
Funds of hedge funds (FoHF) have gone from accounting for nearly 50 per cent of all hedge funds assets under management (AUM) in 2008 to 28.3 per cent in 2016, according to eVestment’s latest Fund of Hedge Funds Industry Report.
Over the last four quarters, net investor flows were -USD50.3 billion, while HF’s flows were essentially flat, at +USD0.34 billion. eVestment believes this suggests that while FoHF money is coming out, it is being replaced by other investors.
FoHFs have been dealing with investor sentiment by reducing fees. Management fees have been in decline since 2010, falling from an average
- 18/07/2016
Hedge funds posted gains through mid-July as the HFRX Market Directional Index gained 2.17 per cent and the HFRX Global Hedge Fund Index gained 1.03 per cent through mid-month.
HFRX Event Driven Index posted a gain of 1.56 per cent through mid-July, extending its strong performance from prior months.
The HFRX Distressed Index posted a gain 3.21 per cent for month, with contributions from exposure to the basic materials and consumer sectors.
The HFRX Special Situations Index gained 1.11 per cent from core positioning in LinkedIn, SABMiller, Yahoo and Macquarie Infrastructure.
The HFRX Merger Arbitrage Index declined
- 18/07/2016
- 18/07/2016
After three consecutive positive monthly results the UCITS HFS Index has seen a draw-down again, reporting losses of 0.41 per cent in June 2016.
The broad index started slowly into the month, posting marginal gains and losses of 0.02 per cent and -0.05 per cent in week one and two respectively.
The biggest hit for the UCITS HFS Index came not in the week of the Brexit referendum itself, but in the week before (week three) with losses of 0.49 per cent. In the fourth week of trading small losses of 0.08 per cent proved that the majority of
- 18/07/2016
- 18/07/2016
The European Energy Exchange (EEX) has been re-appointed as the common auction platform for CO2 emission allowances, following the completion of a joint procurement procedure.
The European Commission has signed a contract with EEX and its clearing house European Commodity Clearing (ECC) for running Europe-wide primary market emissions auctions on behalf of 25 participating member states for another period of up to five years.
“We are very pleased to continue our services for the European Commission and the participating EU member states”, says Peter Reitz, chief executive officer of EEX. “The new contract testifies to the role of EEX
- 18/07/2016
The Preqin All-Strategies Hedge Fund benchmark reveals that hedge fund performance stabilised in the second quarter of 2016 following a volatile start to the year, and recovered from losses seen in Q1.
The industry posted gains of 0.15 per cent in June, despite global market turbulence leading up to and following the Brexit vote; this represents a fourth consecutive month of positive performance.
his streak of positive industry performance has resulted in hedge funds reporting returns of 2.15 per cent for the second quarter, which in turn, has driven overall gains of 1.36 per cent through H1 2016. Despite
- 18/07/2016
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