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The US Commodity Futures Trading Commission (CFTC) has charged Hendrik A Van Beuningen and his company, DeBrink Trading Fund I (DeBrink) with fraud, misappropriation, and issuing false statements in connection with a commodity pool they operated. The CFTC Complaint, filed under seal on 28 March, 2016, alleges that, from at least January 2014 to at least January 2016, the Defendants fraudulently solicited and accepted at least USD505,000 from at least five members of the public for the purported purpose of pooling funds to trade various futures contracts. The CFTC’s Complaint also charges the Defendants with registration violations concerning their commodity
FlexTrade Systems has appointed Tim Wong, Maroof Khan, and Dan Enstedt as Vice Presidents of Business Development, Multi-Asset Sales, for the company’s APAC region. According to Manish Kedia (pictured), Managing Director of FlexTrade Systems Pte Ltd, in Singapore, multi-asset trading has gained a solid foothold in the APAC region on both the buy-side and sell-side.  “Considering the growth of electronic trading in the area, it became paramount for us to expand our sales presence with a more regional focus,” says Kedia. “With Tim in North Asia, Maroof handling South East Asia and Dan covering Australia and New Zealand, FlexTrade is
Alternative investment manager Franklin Square Capital Partners has hired Lewis Katz as Chief Business Development Officer. In this newly created role, Katz will develop new growth opportunities and help diversify distribution into new sales channels by collaborating with teams across the firm to expand its financial technology, marketing and educational initiatives.  “Lewis Katz has wide-ranging experience with alternative investments, large-scale business development, partnership growth and technology expansion,” says Michael C Forman (pictured), Chairman and CEO of Franklin Square. “He will be instrumental in forging says paths for Franklin Square as we continue our growth as a leader in alternatives.” In
SS&C Technologies Holdings has appointed Ron Tannenbaum as Managing Director of Business Development for Europe, Middle East, and Africa (EMEA) in its Alternative Fund Services business, SS&C GlobeOp.  He will be based in SS&C’s European headquarters in London and will report to Punit Satsangi, Managing Director, Head of Alternatives EMEA Business Development.   Most recently, Tannenbaum was Co-Founder and Partner (UK Marketing and Sales) at AltB Partners LP. Prior to this, he was Partner and Co-Founder of GlobeOp Financial Services, which was acquired by SS&C in 2012. Mr. Tannenbaum has also served in a number of senior executive positions at
The European Securities and Markets Authority (ESMA) has fined the trade repository DTCC Derivatives Repository Limited (DDRL) EUR64,000, and issued a public notice, for negligently failing to put in place systems capable of providing regulators with direct and immediate access to derivatives trading data.  This is a key requirement under the European Markets and Infrastructure Regulation (EMIR) in order to improve transparency and facilitate the monitoring of systemic risks in derivatives markets. This is the first time ESMA has taken enforcement action against a trade repository registered in the European Union (EU). DDRL is the largest EU registered trade repository.
100 Women in Hedge Funds (100WHF) has selected The Women’s Foundation (TWF) as its 2016 philanthropic beneficiary in Hong Kong.  100WHF is a global, practitioner-driven non-profit organisation which serves more than 13,000 alternative investment management investors and professionals through educational, professional leverage and philanthropic initiatives. To date, 100WHF has raised US$38 million (gross) for charitable causes.   100WHF’s mission was established in 2001 on three core pillars: Education, Peer Leverage and Philanthropy. 100WHF's philanthropic mission is to leverage its members’ collective abilities and expertise in order to give back to the global community among three annually rotating themes: Education, Mentoring,
The attraction for private equity as an alternative asset class is as strong as perhaps it has ever been. As the results of a recent E&Y survey reveal (Positioning to win: 2015 global private equity survey), 19 per cent of investors said they currently allocate up to 5 per cent of capital to private equity, but 39 per cent said they allocate more than 25 per cent.  This is encouraging news for private equity managers, but with it comes extra responsibility as investors and regulators alike ramp up their due diligence. Indeed whereas only 28 per cent of managers said
Quod Financial has partnered with SR Labs to use the firm’s SuperFeed product to enhance its turnkey low latency solutions in smart order routing, algorithmic and automated trading. SR Labs delivers the widest range of normalised market data solutions via its flagship SuperFeed data feed and its Direct Feed Handler products. These are complemented by a range of supporting enterprise products, including the DART entitlements system and Data Fabric middleware, underpinned by the OpenMAMA API.  Quod’s Adaptive Execution Platform and its applications are now integrated with the OpenMAMA API. Ian McIntyre, COO Europe at SR Labs, says: “The combination of
Increased confidence in the Channel Islands’ funds sector is reflected in positive year-end figures from both Guernsey and Jersey, says Ogier funds partner Simon Schilder. The year-end figures for Guernsey funds under management and administration increased by 1.2 per cent to reach GBP2.7 billion over the fourth quarter of 2015 and GBP8.2 billion (3.7 per cent) year-on-year to reach GBP227.6 billion. Jersey’s statistics revealed a GBP7 billion increase over the quarter – though a GBP3 billion loss year-on-year – to GBP225.8 billion in regulated funds under administration. Schilder says: “ESMA’s positive recommendation of Jersey and Guernsey for the extension of
Eurex Clearing is to launch a new membership type that allows buy-side participants to have a direct contractual relationship with the clearinghouse facilitated by a clearing agent.  The so-called ISA Direct service addresses changes in the regulatory landscape and will contribute to the safety, robustness and efficiency of the overall market. For buy-side firms, ISA Direct is a unique way to meet new regulatory requirements with reduced counterparty risk and strong protection for their assets. For clearing agents, the new service eases the adaptation to the new capital rules as it frees up equity capital currently required for client’s business

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