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Gen II Fund Services, an independent private equity fund administrator, has joined The Depository Trust & Clearing Corporation (DTCC) Alternative Investment Product (AIP) Services. AIP is a platform that links global market participants — including broker/dealers, fund managers, fund administrators and custodians, providing a single standard, efficient end-to-end process for alternative investments including private equity, hedge funds, funds of funds, non-traded real estate investment trusts (REITs), managed futures and limited partnerships. Gen II's membership in the AIP services enables the Firm to seamlessly and efficiently service our private fund sponsor clients that maintain investor relationships with Registered Investment Advisors.  "Joining
Intercontinental Exchange (ICE), a leading operator of global exchanges, clearing houses and data services, has introduced the expanded ICE Data Services, bringing together proprietary exchange data, valuations, analytics, desktop tools and connectivity solutions from across ICE and the New York Stock Exchange, Interactive Data and SuperDerivatives.  This development is part of the ongoing integration of Interactive Data, which ICE acquired in December 2015. ICE formed its ICE Data subsidiary in 2003, recognising the rising demand for exchange data as markets became increasingly automated. ICE continues to invest in its data services to address evolving customer needs driven by regulatory reform,
Pavilion Financial Corporation (Pavilion), a North American based employee-owned, investment services firm, plans to acquire Altius Holdings Ltd, the parent company of Altius Associates Ltd. and Altius Associates (Singapore) Pte Ltd (Altius Associates), a global private markets advisory and separate account management firm with offices in the UK, US and Singapore.  The transaction is expected to close in the third quarter of this year subject to regulatory approval.   Pavilion will combine the operations of Altius Associates with LP Capital Advisors, LLC (LPCA), the alternative asset advisory subsidiary of Pavilion headquartered in Sacramento, California. The combination will be highly complementary,
Traiana, a provider of pre-trade risk and post-trade processing solutions, has seen a threefold growth in allocation volumes via its Harmony Equity Swaps service.  The platform achieved growth of 185 per cent between May 2015 and May 2016, following strong growth of 144 per cent over the same period the prior year. The Harmony Equity Swaps solution is designed to reduce the cost and complexity of post-trade processing for the contract for difference (CFD)/equity swaps market by providing a central, automated and secure electronic messaging and matching service to buy and sell side firms, outsourcers, trade repositories and CCPs. Growth
How behavioural analysis can serve as a meaningful supplement to the hedge fund due diligence process, potentially exposing key insights about hedge fund managers that might ordinarily remain hidden, is the focus of a new white paper from TeamCo Advisors. The paper, entitled, “Behavioural Analysis: Seeing What Is Left Unsaid,” was co-authored by TeamCo Managing Director Aimee F Kish, CAIA and Leanne ten Brinke, PhD, a Banting Postdoctoral Fellow at University of California, Berkeley. TeamCo Advisers is a privately owned investment advisory firm that manages portfolios of select hedge funds and other opportunistic alternative assets. In collaboration with Dr ten
Pzena Investment Management has promoted Gary J Bachman to the newly created role of Chief Operating Officer (COO), effective 1 July. Bachman will assume oversight of the operations of Pzena Investment Management, LLC and will also be named to its Executive Committee effective as of 1 July.   Jessica R Doran will assume the position of Chief Financial Officer and Treasurer, after having spent several years in various roles at Pzena. Ms. Doran will report to Bachman and Bachman will report to Pzena’s Chairman and Chief Executive Officer, Rich Pzena. “Gary has tremendous expertise in our industry and I am
Citadel has appointed Steven Lieblich as Chief Technology Officer of the firm’s hedge fund business.  A 30-year veteran of Morgan Stanley, Lieblich has served in a series of senior technology roles, most recently as Morgan Stanley's Chief Information Officer. Steve will report to Citadel's Founder and CEO Kenneth C Griffin, and will join the firm this fall. Before serving as Chief Information Officer for Morgan Stanley, Steve's tenure at the firm included leading the technology division of its Institutional Securities Group, which included investment banking and sales and trading operations. He previously led the Equity Technology Group and the technology
Hedge fund managers navigated intense volatility on Friday as the Brexit vote resulted in massive dislocations across global currency, equity, commodity and fixed income markets, most specifically reflected in Sterling’ steep decline against the Dollar and the Yen. Hedge fund performance was mixed across strategies with wide dispersion and high turnover, as losses across directional beta strategies were partially offset by mixed performance in non-directional and trend following strategies. UK-based hedge funds manage an estimated USD426.4 billion (£ 323 billion British Pound Sterling),  roughly 80 per cent of the USD527.6 billion managed by all European located hedge funds. The HFRX
Larry Hatheway (pictured), Group Chief Economist and Head of Multi Asset Portfolio Solutions at GAM, looks at what happens next following the UK’s vote to leave the EU… The UK’s historic referendum has, predictably, sent powerful shockwaves through global capital markets. Intra-day volatility in sterling, European equities and selected other asset classes has approached or even exceeded that seen during the most turbulent episodes of the global financial crisis. The market moves – particularly the sharp fall of sterling – are very much in line with the estimates made by most economists and strategists in their Brexit scenarios.   What
EDHEC-Risk Institute has released an overview and analysis of the forthcoming framework to be used by financial institutions to determine initial margin (IM) and variation margin (VM) payments when trading non-cleared over-the-counter (OTC) derivatives.  The new publication – Initial Margin for Non-Centrally Cleared OTC Derivatives – Overview, Modelling and Calibration – was produced by the research chair on “Innovations and Regulations in Investment Banking” which is supported by the Fédération Bancaire Française (FBF). Coming into effect in September 2016, this new framework was set out in 2015 and is based on the recommendations of the BCBS/IOSCO Working Group on Margin

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