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CBOE Holdings plans to open its first international business development office in London in July.  The new office – headed by Matthew McFarland, director of global client services – will enable CBOE to increase its presence in the region and allow its business development team to more directly engage with European-based clients and potential new customers, as well as the exchange's strategic partners.  "We are pleased to establish our first international business development office in London, a key European financial centre,” says Andy Lowenthal (pictured), Senior Vice President of Business Development at CBOE. "The opening of this office is the
Cleartrade Exchange (CLTX) has been officially approved as a registered Foreign Board of Trade (FBOT).  The FBOT approval, which has been granted by the US Commodity Futures Trading Commission (CFTC), allows CLTX to provide their participants located in the US with direct access to its electronic order entry and trade matching system. The FBOT approval also endorses CLTX as an established and organised exchange which is subject to continuous supervision by the local regulator, Monetary Authority of Singapore (MAS), whose comprehensive supervision and regulatory function is similar to that of the CFTC. “We are very pleased to receive official approval
Volante Technologies has created a solution specifically designed to accelerate the process of integrating with Ripple, a provider of distributed financial technology solutions offering real-time settlement of cross border payments. At SIBOS 2015 Volante demonstrated Ripple-readiness as a feature of the VolPay Hub product.  Building on this capability and following close engagement with Ripple, Volante has developed an integration solution designed to simplify connectivity to Ripple.   For over 15 years Volante’s technology has enabled financial institutions and corporates to accelerate their connectivity to a wide range of clearing and settlement mechanisms. The software suite includes an ever growing and
Recent data suggests that the aggressive overhaul of the US swaps market with respect to European implementation schedules continues to drive cross-border liquidity fragmentation, bringing the worries held by market participants since the implementation of Swaps Execution Facility (SEF) mandates in late 2013 into reality. in TABB Group’s latest research, “Global Swaps Liquidity Fragmentation 2016: Redefining the Balance”, analyst Colby Jenkins (pictured) examines recent interdealer cleared trading activity data compiled by LCH.Clearnet SwapClear and published by the International Swaps and Derivatives Association (ISDA) to establish the new cross-border liquidity pool dynamics for swaps trading activity for interest rate swaps. Jenkins
After a strong start to 2016, CTAs have now completed their third consecutive month of negative performance. All five daily indices that Societe Generale Prime Services calculates were down in May.  The flagship SG CTA Index, that measures a broad range of managed futures strategies, has now also dipped just below zero on year to date performance for the first time this year.   Short term trading strategies continue to be the best performers, with the SG Short Term Traders Index dipping to -0.93 per cent in May, but still comfortably positive for the year so far, at 4.18 per
The US Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad has signed a Memorandum of Understanding (MOU) with the European Securities and Markets Authority (ESMA) regarding cooperation with respect to derivatives clearing organisations (DCOs) established in the United States that have applied or that may apply to ESMA for recognition as central counterparties (Recognised CCPs).   Through the MOU, the CFTC and ESMA express their willingness to cooperate with respect to Recognized CCPs. The CFTC and the European Commission (EC) anticipated the execution of an MOU when the Common Approach for Transatlantic CCPs was announced earlier this year (see CFTC-EU
Institutional investors are increasing capital allocations to alternative strategies in a quest for strong returns in the low-interest-rate environment, according to a new study from BNY Mellon. The report, Split Decisions: Institutional investment in alternative assets, produced by BNY Mellon in association with FT Remark, found that among the various alternative asset classes, private equity is most favoured by institutional clients, accounting for 37 per cent of their exposure, followed by infrastructure (25 per cent), real estate (24 per cent), and hedge funds (14 per cent).   According to the study nearly two-thirds of investor respondents said that alternatives had
Nautilus Managed Account Platform, a wholly owned subsidiary of the Johannesburg Stock Exchange, has retained Societe Generale Securities Services (SGSS) to provide trustee services for its Management Company (ManCo) in South Africa. The appointment follows the decision by the Financial Services Board (FSB) in South Africa to extend the scope of funds regulated by the Collective Investment Scheme Control Act (CISCA) to include hedge funds. The CISCA regulates two types of hedge funds: Qualified Investor Funds (QIFs) and Retail Hedge Funds (RFs). MANCOs seeking to offer hedge funds to the public are required to register with the FSB and appoint
Lyxor Asset Management (Lyxor) has signed a distribution agreement with Intesa Sanpaolo Private Banking, the wealth management arm of the Intesa Sanpaolo banking group, making Lyxor’s range of Alternative UCITS and Multi-Asset funds now available to private banking investors in Italy.  The range of funds available through this agreement is comprised of Lyxor’s seven Alternative UCITS funds and two Multi Asset funds.  Alternative UCITS funds allow for alternative investment strategies focused on delivering performance with limited correlation to markets, within the robust European UCITS regulatory framework. Lyxor’s Alternative UCITS Platform is one of the fastest growing platforms in the industry
Affiliated Managers Group (AMG) is to acquire Petershill Fund I’s minority equity interests in five alternative investment firms – Winton Capital Group, Capula Investment Management, Partner Fund Management, Mount Lucas Management, and CapeView Capital. Under the terms of the agreement, AMG will acquire the interests in the firms from Petershill Fund I for approximately USD800 million in total consideration, which will be paid in cash at closing, funded up to 50 per cent in equity. Upon the closing of the transaction, senior management at each of the firms will continue to hold an unchanged majority of the equity in each

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