Latest News
Hedge fund and private equity firms are dominating office leasing in core areas of London among the financial services sector (excluding banks), with latest figures revealing strong demand, according to research out from Cushman & Wakefield.
In the first quarter of this year, take-up of office space from non-banking financial services firms was around 240,000 sq ft with hedge funds accounting for approximately a quarter (23 per cent) and private equity nearly a fifth (18 per cent). These figures are slightly down on overall comparisons to 2015, which was an extremely buoyant period for financial services companies according to the
- 14/04/2016
The European Securities and Markets Authority (ESMA) is to publish its first EU-wide stress test exercise regarding Central Counterparties (CCPs) on 29 April 2016.
ESMA is mandated to conduct stress tests of CCPs under the European Markets Infrastructure Regulation (EMIR). The stress test assesses the resilience and safety of the European CCP sector and aims to identify possible vulnerabilities.
Steven Maijoor (pictured), ESMA Chair, says: “CCPs offer significant benefits to the market and play a key role in making derivatives markets safer. CCPs are also highly interconnected – both with financial institutions and markets – and the increasing volumes
- 14/04/2016
- 14/04/2016
Societe Generale Securities Services (SGSS) in the UK has been mandated by Linear Investment Limited (Linear), a full-service mini-prime broker servicing international asset managers and hedge funds, to provide its Global Broker-Dealer Services (GBDS) outsourcing solution.
SGSS’ outsourcing platform encompasses a fully integrated set of modular services from execution, liquidity support, middle and back office processes, to core securities processing and asset servicing. SGSS developed this solution in response to increasing market demand from institutional brokers, mid-tier banks and mid-tier broker-dealers who want to concentrate on their key business and lower their production costs by outsourcing their non-core activities.
- 14/04/2016
On 31 December, 2016 the Financial Industry will go live with PRIIPs regulation. The regulation will introduce the Key Investor Document (KID), a maximum three-page document, written in plain language that must be shared with all retail investors before they enter into a contractual agreement on any Packaged Financial and Insurance based product.
Of course, such documents are not new to the UCITS Fund Industry. Back in 2011, a similar document – the Key Investor Information Document (‘KIID’) – was introduced under UCITS IV. The European Commission has duly taken this into account and has granted five-year grandfathering period for
- 14/04/2016
Aurum Fund Management has launched the Aurum Dynamic Strategies Fund, a multi-manager, multi-strategy, alternative UCITS fund.
Kevin Gundle, CEO of Aurum Research Limited, Aurum’s UK subsidiary, says: “Aurum’s proximity to the hedge fund industry gives it a unique vantage point from which to evaluate and access the most interesting alternative UCITS launches: those that are coming from hedge fund managers.”
The firm writes that in an environment where European investors face negative interest rates and there is widespread concern about volatility in equity markets, the Aurum Dynamic Strategies Fund seeks to provide investors with lower correlation, lower volatility
- 14/04/2016
The Chicago Board Options Exchange (CBOE) plans to start overnight dissemination of the CBOE Volatility Index (VIX Index) on 15 April.
Values for the VIX Index are expected to be published every 15 seconds, beginning at 2:15 am CT, during CBOE's extended trading hours session for VIX and S&P 500 Index (SPX) options, which run from 2:00 a.m. to 8:15 am CT, Monday through Friday.
The VIX Index is calculated using real-time prices of SPX options, which historically traded only during regular US trading hours. CBOE added a 6-hour and 15-minute overnight SPX trading session in March 2015.
- 14/04/2016
As declining open outcry options volume on CME Group's New York trading floor now represents just 0.3 per cent of the company's overall energy and metals trading volumes, CME Group will close its New York trading floor at year-end, subject to CFTC review.
All options products listed with and subject to the rules and regulations of NYMEX and COMEX will be available for trading on CME Globex, and for submission for clearing through CME ClearPort.
Since the company announced in Q1 2015 that open outcry futures trading in New York would end last Summer, average daily volume for
- 14/04/2016
The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, has elected three new members to its Board of Directors.
The new directors are Lester Owens, Managing Director and Global Head of Wholesale Banking Operations at JPMorgan; Paul Simpson, Managing Director and Global Head of Equity Asset Management Services at Bank of America Merrill Lynch; and Joseph Weinhoffer, Treasurer and Chief Investment Officer of ED&F Man Capital Markets Inc.
The Board provides direction and oversight for DTCC in the interests of its diverse stakeholders, while promoting safety and stability across the
- 14/04/2016
Atalaya Capital Management, a private credit asset manager, has closed its sixth Special Opportunities Fund (Fund VI) at its USD800 million hard cap, exceeding its USD750 million target.
Fund VI is the fourth consecutive oversubscribed Atalaya Special Opportunities Fund, representing an increase from its USD575 million predecessor, Fund V. Fund VI’s investors are predominantly public and corporate pension plans, foundations, and endowments.
Like previous Atalaya Opportunity Funds, Fund VI will invest primarily in credit opportunities, the majority of which will be senior debt collateralised by financial, real estate, or corporate assets. Targeted investments include: specialty finance loans against small balance
- 14/04/2016
The European Energy Exchange (EEX), part of Deutsche Börse Group, is to acquire the remaining shares in the Singapore-based Cleartrade Exchange (CLTX) from Freight Investor Holdings. The transaction will take effect as of 15 April 2016.
With this transaction, EEX further strengthens its commitment to become a global commodity exchange developing new asset classes and geographies, whilst continuing growth of its core markets.
“With this transaction we are taking a further important step towards the expansion of EEX Group beyond Europe and beyond the energy sector”, explains Peter Reitz, Chief Executive Officer of EEX. “The Cleartrade Exchange commodity markets form
- 14/04/2016
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