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The first-ever futures contract tracking the Taiwan Stock Exchange Capitalisation Weighted Stock Exchange Index (TAIEX) is to list on the Osaka Exchange (OSE), a subsidiary of Japan Exchange Group (JPX), on 19 July 2016.
The listing is the latest extension of the growing link between the Taiwan Stock Exchange Corporation (TWSE) and JPX, with a growing number of financial products tracking Japanese stock market indices listing on TWSE and the Taiwan Futures Exchange (TAIFEX) since the second quarter of 2015.
These products include ETFs tracking the TOPIX and Nikkei 225 indexes, and TOPIX Futures respectively.
The TAIEX index is comprised of all listed common shares traded on
- 20/07/2016
- 20/07/2016
The Jersey Financial Services Commission (JFSC) has welcomed the European Securities and Markets Authority’s (ESMA) recommendation to the European Parliament, Council and Commission that Jersey should be among the ‘third countries’ granted an AIFMD passport.
The JFSC has fully engaged with ESMA and has been working closely with member state regulators as part of the assessment process.
Following ESMA’s advice, there is now a period of up to six months for the European Commission to propose appropriate legislation and for the European Parliament and Council of Ministers to agree to the third country passporting rules becoming applicable to Jersey
- 20/07/2016
Tower Trading Group (TTG), a trading firm delivering bespoke commercial and technical solutions for professional traders, has selected Ancoa’s market surveillance platform to monitor its multi-asset trading activities across all exchanges and independent services providers (ISVs).
Deployment of the Ancoa platform has been timed and designed to enhance TTG’s compliance function with the advent of the Market Abuse Regulation (MAR) which came into effect on 3 July 2016.
Detecting and dealing with manipulative trading practices to prevent market abuse has become a regulatory requirement for proprietary trading firms, market makers and brokers across a wide range of asset classes.
- 20/07/2016
Operations technology startup Predictive has acquired 2338 Technologies, an early-stage, privately-backed startup developing machine learning technologies.
The purchase price has not been disclosed.
2338’s technology will now power PredictiveOps, a SaaS application that is aiming to transform language in hedge fund documents and regulatory filings into useable data for operations planning and automation.
As part of the transaction, 2338’s founder and CEO Carl P Evans III has agreed to join Predictive as co-founder, chief product officer, and corporate counsel. Evans brings over 15 years of software, hardware, robotics, machine learning development, and technology management experience to Predictive.
- 20/07/2016
- 20/07/2016
The European Securities and Markets Authority (ESMA) has published its advice regarding the Alternative Investment Fund Managers Directive (AIFMD) passport to non-EU AIFMs and AIFs in 12 countries.
Currently, non-EU AIFMs and AIFs must comply with each EU country’s national regime when they market funds in that country.
ESMA’s advice relates to the possible extension of the passport, which is presently only available to EU entities, to non-EU AIFMs and AIFs so that they could market and manage funds throughout the EU.
For each country, ESMA assessed whether there were significant obstacles regarding investor protection, competition, market disruption
- 19/07/2016
Exiger, a regulatory and financial crime, risk and compliance firm, has acquired The Poseidon Group, a Hong Kong and Singapore-based due diligence and business intelligence firm.
With the addition of Poseidon into its growing portfolio of specialised due diligence and business intelligence solutions for global and regional banks, private equity groups, hedge funds, multinational corporations, foundations, and endowments, Exiger gains significant expertise and manpower in Hong Kong and Singapore, bolstering the firm's ability to service the needs of clients operating in the Asia Pacific region.
"Over the past 10 years, Velisarios Kattoulas and his team at Poseidon have developed
- 19/07/2016
- 19/07/2016
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
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