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The Commodity Futures Trading Commission (CFTC) has issued an Order to the Korea Exchange (KRX) permitting certain KRX Members to solicit and accept orders and in connection therewith, accept funds directly from U.S. customers for trading on KRX without having to register with the CFTC as futures commission merchants (FCMs).
The order also permits these designated KRX Members to engage in marketing conduct in the US for a period not to exceed thirty days. This exemption follows similar exemptions granted to other foreign exchanges or foreign regulators pursuant to Regulation 30.10.
The order will be published in the Federal
- 09/02/2016
A total of 42 hedge fund deals were closed or announced globally in 2015, exceeding the 32 transactions that closed in 2014, according to the 4th edition of Madison Capital’s hedge fund industry M&A overview.
Additionally, 2015 transaction volume as measured by AUM was approximately 27% higher than 2014. Propelled by the wave of transactions in the fourth quarter of 2015, there are other key drivers creating deal momentum, positioning 2016 to be a record year in terms of hedge fund M&A transactions.
According to the report, hedge fund industry assets are at an all time high despite the
- 09/02/2016
BIL Manage Invest, the third-party management company of the Banque Internationale à Luxembourg (BIL) Group has received approval from the CSSF_ to launch its Lux Multimanager SICAV, a hosted “rent-a-compartment” UCITS fund platform.
Lux Multimanager SICAV provides third-party investment managers, fund initiators and other fund promoters (managers) of investment funds with a fully UCITS-compliant umbrella fund platform within which they can manage a sub-fund (compartment) in accordance with their own investment strategies. BIL Manage Invest has appointed RBC Investor Services Bank SA in Luxembourg to provide custody, central administration and domiciliary services to the platform.
The managers are appointed
- 09/02/2016
All managed futures indices posted positive returns in the first month of the year, with Societe Generale’s headline SG CTA Index leading performance. At 4.21 per cent this is the highest monthly return for the index since 2015’s opening month. Short-term traders also made significant gains, ending up 3.73 per cent.
The newly launched SG CTA Mutual Fund index made a strong start, completing its first live month up 2.64 per cent.
The SG Trend Indicator mirrored the gains of the SG Trend Index, ending up 2.35 per cent. Performance attribution from the Trend Indicator shows trend-followers benefitted from
- 08/02/2016
- 08/02/2016
David Lamb (pictured), head of dealing at the forex specialists FEXCO, on Mark Carney’s latest press conference…
Mark Carney's press conference revealed that he too gave up something for the New Year – forecasting interest rate rises.
Understandably the Governor chose not to mention the large amount of egg left on his face after the embarrassing ditching of his prediction – made last summer – that we would have greater clarity on interest rates at the start of 2016.
With UK inflation continuing to be dragged down by tumbling commodity prices, the prospect of an interest rate rises
- 08/02/2016
- 08/02/2016
Red Oak Capital Fund has launched a new private investment fund specialising in debt instruments collateralised by commercial income producing real estate.
Working with seasoned real estate investors and developers, Red Oak intends to expand its reach into the hard-money commercial lending arena for projects that are not typically serviced by traditional institutional lenders.
"There is a huge demand for short-term transitional financing in the commercial real estate market right now,” says Joe Elias (pictured), Senior Director with Red Oak. "Banks and institutional lenders have had their hands tied with red tape and can't be as flexible as they
- 08/02/2016
LiquidityBook, an ASP-based provider of buy- and sell-side and OMS and FIX trading solutions, has appointed Sean Sullivan as Chief Revenue Officer. Sullivan, who will report directly to co-founders Kevin Samuel and Rick Goldenberg, will be responsible for the firm’s sales and business development strategy globally.
Sullivan brings more than 20 years of experience in the financial technology industry to the firm. Most recently he served as Chief Revenue Officer for REDI Global Technologies, a leading trade management platform provider. Prior to that, he was Head of Global Sales for Eze Software Group, and was also a member of the
- 08/02/2016
- 08/02/2016
Liquid alternatives specialist AlphaSimplex Group has hired Alistair Lowe (pictured) in the newly created role of senior advisor to the firm’s investment committee.
Lowe, an investment industry veteran, was most recently consulting with several investment management and financial technology firms. Before that he was with State Street Global Advisors, where he was chief investment officer for global equities and, previously, CIO of global asset allocation and currency.
“Alistair brings broad and deep experience with asset allocation and quantitative strategies to help support and build upon AlphaSimplex’s successful growth,” said Duncan Wilkinson, CEO of AlphaSimplex.
In his new role,
- 08/02/2016
The administration of the CBOE Volatility Index (VIX Index) is now in alignment with the Principles for Financial Benchmarks established by the International Organisation of Securities Commissions (IOSCO).
The VIX Index, calculated using real-time bids and offers of S&P 500 Index (SPX) options listed for trading on CBOE, is a recognised and accepted benchmark for futures and options trading under U.S. regulatory standards set by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).
CBOE policies and procedures cover administration of the VIX Index, which CBOE believes has contributed greatly to the VIX Index being considered
- 08/02/2016
Hedge funds posted mixed performance to begin 2016 as global financial markets plunged, driven by steep declines in oil and concerns regarding the global impact of the slowing Chinese economy, resulting in the worst start to a year for hedge funds since 2008.
The broad-based HFRI Fund Weighted Composite Index posted a decline of -1.7 per cent for January, bringing the Index Value to 12073.48, while the HFRI Asset Weighted Composite Index fell -1.2 per cent, according to data released today by HFR, the established global leader in the indexation, analysis and research of the global hedge fund industry. Total
- 08/02/2016
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