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The London Metal Exchange (LME) has launched LMEshield, a new electronic warehouse receipt system for the global commodities market. The first receipt was issued by Henry Bath & Son Ltd on behalf of BNP Paribas Arbitrage SNC. LMEshield is a custody tool that issues and manages electronic receipts relating to commodities stored off-warrant in a range of global locations. At go-live, LMEshield is available in 19 jurisdictions, including countries new to the LME storage network such as India, South Africa and Chile. “We recognise that there is a need for a reliable standard for warehousing worldwide,” says Matthew Chamberlain (pictured),
The hedge fund industry saw net outflows of investor capital in Q1 2016, totalling USD14.3 billion, with CTAs and multi-strategy funds the only major strategies to see new inflows, according to figures released by Preqin. This continues from the USD8.9 billion overall net outflows that funds recorded in Q4 2015, and is in contrast to the USD28.8 billion that the industry gained in investor capital in the same period last year. Overall, the total assets under management held by hedge funds globally fell 0.48 per cent in the quarter, to stand at USD3.13tn at the start of Q2.  CTAs and
Ron Hovsepian, president and CEO of Intralinks, takes a look at the EU-US Privacy Shield debacle and evaluates what businesses need to know in this byline. Please click here to continue reading.
PGIM’s UCITS platform has surpassed USUSD1 billion in assets, as of 31 March, 2016, through its first 10 funds with more funds to be launched in the coming year. The funds are based on existing strategies managed by PGIM’s wholly-owned investment managers, PGIM Fixed Income, Jennison Associates, QMA, and Pramerica Real Estate Investors. The funds are available to institutional investors or to individual investors through intermediaries and institutional fund platforms. “Growing our UCITS product line is a significant initiative for PGIM across our multi-manager model since adopting our new brand earlier this year,” says David Hunt (pictured), CEO of PGIM.
CME Group has reported record revenue of USD934 million and record operating income of USD574 million for the first quarter of 2016. Net income was USD368 million and diluted earnings per share were USD1.09.   Adjusted for non-recurring items, net income would have been USD390 million and diluted earnings per share would have been USD1.151. "Our record first-quarter financial performance was driven by our highest quarterly average daily volume to date, including record volumes in energy, overall options and electronic options," says CME Group Executive Chairman and President Terry Duffy (pictured). "We delivered record revenue and operating income, and 17
Managed Funds Association President and CEO Richard H Baker has released a statement after the Securities and Exchange Commission voted to issue for public comment a proposal for the creation of a consolidated audit trail designed to gather increased information for regulators to conduct research, reconstruct market events and monitor market activities. “MFA and MFA Members support the overall objectives of a consolidated audit trail as a way to enhance regulators’ ability to oversee our modern markets,” says Baker. “However, implementing a system to track this unprecedented level of customer and trading data must be done in a cost-effective manner.
Tradition Group is planning to launch Elixium, a new EU-regulated Multilateral Trading Facility (MTF) for collateral and secured deposits, in May 2016.  Elixium has been developed to address the growing need for a transparent, open to all, peer-to-peer, regulated marketplace. It seeks to address the growing liquidity concerns that have emerged as a result of changes in regulation and the subsequent composition and availability of balance sheets.  Elixium uses a standardised legal structure, uniform collateral schedules and an underlying credit matrix which allows for rapid counterparty diversification and helps spread counterparty risk to provide a solution that brings all market
Broadridge Financial Solutions has launched its new Solutions Partner Program, a global channel sales initiative that enables leading consulting, technology and servicing firms to offer expanded technology solutions that leverage the company’s suite of products and services as well as resell its solutions into select customer accounts.  Broadridge has hired 20-year industry veteran Ira Newman to lead the Program.    Broadridge’s Solutions Partner Program provides a flexible forum for partners, including consulting, technology and servicing firms, to develop new offerings, explore common customers and reach new clients. It offers partner firms global access to proven technology solutions across Wealth Management,
Barak Fund Management, an Africa-focused alternative fund management company, has chosen TFG Financial Systems to provide it with TFG Complete, TFG’s fully integrated middle office and risk management system.  TFG will be supporting two new Barak funds, investing in the commodities and forex markets respectively. Barak is a specialist in commodity-focused investment opportunities and trade finance across the sub-Sahara African region. Based in Mauritius (with the Advisory team sitting in South Africa), Barak invests across 30 African countries, with particular focus on the soft commodities and food product-related sectors. Lourens Harmse (pictured), Fund Manager of the new Barak Sarafu African
MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, has appointed Daniel Trentacosta as Sales Director. Trentacosta will play a key role in driving business development in North America for MUFG Investor Services’ asset servicing solutions across hedge funds, fund of funds and private equity/real estate funds. These solutions include fund administration, middle-office outsourcing, custody, depository, trustee, fund of hedge fund financing, FX and wider banking services. He will report to John Sergides, Managing Director, Global Head of Business Development & Marketing, in New York.    Trentacosta joins from Och-Ziff Capital Management Group, where he was

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