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Many Hedge Funds historically have used futures to gain exposure to indices, but this may be set to change, according to research by exchange traded fund (ETF) provider Source.
The overall costs of ETFs have been trending lower, making them more competitive compared to futures based on the same underlying indices, especially when considering the additional costs of ‘rolling’ futures at each expiry period. Three of the six indices that Source regularly monitors had more expensive futures rolls in the December 2015 expiry period compared to the relevant Source ETFs. This was in spite of asset managers reducing their net
- 03/05/2016
Nir Regev’s Regev Group, which is based in Missouri, has joined DFPG Investments, a national independent broker-dealer and RIA.
"We are very pleased that Nir identified the fit with our firm," says DFPG's CEO, Mike Bendix. "Nir brings a lot of value to DFPG, not the least of which is his stellar reputation and respect from so many industry peers and partners."
Nir Regev (pictured) says: "Part of the draw to DFPG was the established expertise they provide relating to alternative products, which I consider important to my practice. But the tipping point for me was DFPG's people. I recognised
- 03/05/2016
- 03/05/2016
Aston Hill Asset Management has appointed Manitou Investment Management as exclusive sub-advisor to two closed end funds, the Aston Hill VIP Income Fund and the Aston Hill Advantage VIP Income Fund., effective 1 May, 2016,
“The appointment of Manitou to these additional mandates underlines the importance of the partnership and our confidence in their investment process. Their disciplined approach is a perfect fit for these two mandates." says Aston Hill CEO James Werry. "The Manitou investment team has an extremely strong track record built on behalf of their high net worth and institutional clients. Being able to bring this kind
- 03/05/2016
CME Group is to collaborate with Crypto Facilities Ltd, a digital assets trading platform, to develop the CME CF Bitcoin Reference Rate (BRR), which will provide a final settlement price in US dollars at 4 pm London time on each trading day, and CME CF Bitcoin Real Time Index (RTI), which will allow users real-time access to bitcoin prices.
Both new products are expected to launch in the fourth quarter of 2016.
The BRR will aggregate the trade flow of major bitcoin spot exchanges during a specific calculation window into a once-a-day, transparent reference rate of the US dollar price
- 03/05/2016
The European Securities and Markets Authority (ESMA) has issued two Opinions proposing amendments to its draft Regulatory Technical Standards (RTSs) under the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
ESMA proposes to revise the RTS on non-equity transparency – which includes requirements in respect of bonds, structured finance products, emission allowances and derivatives – and the RTS on the methodology for the calculation and application of position limits for commodity derivatives. The Opinions were produced in response to proposed amendments by the European Commission to these draft RTSs.
MiFID II will extend transparency requirements to
- 03/05/2016
The pan-European gas trading platform PEGAS registered a total volume of 153.7 TWh in April 2016, which represents almost the double of the volume traded over the same period last year (April 2015: 77.0 TWh).
The increase was driven by a volume increase on the futures market with 104.2 TWh (April 2015: 30.5 TWh).
Spot trading volumes in April reached 49.5 TWh. On the Dutch market area TTF, 13.6 TWh were traded which represents a growth of 9 per cent compared to last year. The German NCG hub registered a total volume of 18.2 TWh (+20 per cent), while GASPOOL
- 03/05/2016
- 03/05/2016
The US CFTC has approved a final rule to amend a requirement that swap dealers (SD) and major swap participants (MSP) exchange the terms of swaps with their counterparties for portfolio reconciliation so that SDs and MSPs need only exchange the “material terms” of swaps.
This requirement is found in CFTC Regulation 23.500(i).
The final rule also amends the definition of “material terms” in CFTC Regulation 23.500(g).
The final rule benefits SDs, MSPs, and their counterparties by enabling them to focus on reconciling data fields that impact swap valuation and counterparty obligations, without impairing the CFTC’s ability to oversee
- 03/05/2016
The number of regulatory ‘incubator’ or ‘umbrella’ firms in the City of London’s institutional financial sector has grown to 52, according to Sturgeon Ventures LLP, which claims to have been the first such firm to launch 18 years ago.
Sturgeon has also announced that it has opened an office in Hong Kong, where it will be a regulated investment manager and asset gatherer known as Sturgeon Hong Kong.
The firm writes that there is substantial market potential in Hong Kong because of growth in start-up managers in Asia, UK fund managers requiring more access to family offices and funds
- 29/04/2016
UnaVista, London Stock Exchange Group’s global regulatory reporting platform, has partnered with regulatory reporting testing and compliance firm, Kaizen Reporting giving UnaVista clients access to Kaizen Reporting’s ReportShield service, which offers quality assurance testing of MiFID transaction reports at a field level,
as well as governance training and consultancy. UnaVista’s market leading Approved Reporting Mechanism (ARM) already provides clients with advanced validation checks to ensure submitted data is valid. Kaizen Reporting’s ReportShield testing service, combined with UnaVista’s Reconciliation service, will allow firms to test the quality of their source data for valid but incorrect information. Firms can then correct the
- 29/04/2016
- 29/04/2016
SS&C Technologies Holdings has been appointed by Nicola Wealth Management (NWM) to provide a range of fund administration services for nearly USD4 billion in assets under management (AUM).
NWM has grown to be one of Canada’s leading independent wealth management firms with close to USD4 billion AUM and over 130 employees in four locations across Canada, including Vancouver and Toronto. SS&C will provide NWM with a full range of administration services including fund accounting and investor services. NWM will benefit from SS&C’s expertise and service, while its technology platform will support NWM’s 15 funds and 4 limited partnerships.
"Working
- 29/04/2016
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