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Thirteen global banks, ICAP plc and market infrastructures The Depository Trust & Clearing Corporation (DTCC) and Euroclear have joined forces with AcadiaSoft, to solve an industry problem involving margin flows.
Four global banks, as well as ICAP, DTCC and Euroclear are making investments in AcadiaSoft, bringing the total bank investors in the company to 13. In turn, AcadiaSoft will link its industry-leading MarginSphere electronic messaging service for OTC derivatives with ICAP TriOptima’s triResolve OTC trade reconciliation service and the Margin Transit Utility (MTU) to be operated by the DTCC-Euroclear GlobalCollateral joint venture. The links create an open, seamless, end-to-end margin
- 08/07/2015
INDATA, a leading industry provider of software and services for buy-side firms, today announced that
Edinburgh-based hedge fund sponsor Kiltearn Partners has implemented the iPM Epic platform, expanding the firm’s front-to-back office solution from INDATA.
Founded in 2011, Kiltearn has been an INDATA client since 2013, having originally selected INDATA’s iPM system for their front-to-back office needs including OMS, Compliance, Portfolio Modeling, Accounting, Performance, and Reporting. In recent years, the firm has experienced substantial growth, moving from less than USD1 billion in Assets Under Management to over USD7 billion in AUM, which prompted the company to evaluate its
- 07/07/2015
The Managed Funds Association (MFA) has released a new position paper detailing the changes financial markets have undergone since the passage of the Dodd-Frank Act, as well as the expanded role alternative investments now play.
The paper, “Dodd-Frank at 5: The Role of Alternative Investments in Today’s Capital Markets,” is the first in-depth look at the role the Dodd-Frank Act has had in reshaping our financial institutions from the standpoint of the alternative investment industry.
“MFA played a meaningful role throughout the legislative process by providing constructive feedback to policymakers on ways to ensure a safer, more stable and
- 07/07/2015
As of 7 August 2015, GMEX will provide a Euro-denominated IRS Constant Maturity Future (CMF) for trading and clearing on Eurex. Both parties agreed on this cooperation at the end of 2014.
The cooperation will facilitate the electronic arranging of CMF contracts on GMEX’s platform with trade confirmation and central clearing taking place at Eurex.
“The regulatory reforms have spurred market demand for our CMF contract as it brings the benefits of futures trading closer to OTC products, while delivering the efficiencies of centralised order execution, standardised central clearing and effective hedging of interest rate exposure. Launching a unique product
- 07/07/2015
CBOE Futures Exchange plans to list futures with weekly expirations on the CBOE Volatility Index (VIX Index) beginning Thursday, July 23, 2015, subject to regulatory review. VIX Weeklys options at CBOE are expected to follow, also subject to regulatory approval.
The VIX Index is based on real-time prices of options on the S&P 500 Index (SPX) and is designed to reflect investors' consensus expectations for 30-day stock market volatility. Standard VIX futures and options expire monthly. Weekly VIX futures and options expirations offer convergence to the VIX cash index four to five times per month, instead of once a month.
- 07/07/2015
Proskauer has appointed Bruno Bertrand-Delfau (pictured) as a partner in the firm’s private investment fund’s practice based in London.
Bertrand-Delfau has extensive experience in private equity secondary transactions, notably advising Ardian (formerly AXA Private Equity). He has worked on many landmark transactions in the industry – both in Europe and the US – and advises institutional investors on their primary investments in private equity funds and other related transactions.
Nigel van Zyl, head of the European Private Investment Funds Group, says: “We are thrilled to have Bruno join our team. His experience strengthens our position in the private equity industry
- 07/07/2015
S&P Capital IQ has launched a new intra-day municipal bond pricing service designed to assist regulatory and industry efforts aimed at bringing about greater transparency to the market.
Provided by Standard & Poor's Securities Evaluations Inc., a business unit of S&P Capital IQ specialising in multi asset class mark to market solutions, the new service will enable users to track pricing on over three million bonds throughout the trading day.
This new service has been designed to support portfolio managers, advisors and back offices looking to develop solutions that address recent Securities & Exchange Commission (SEC) rules requiring institutional
- 07/07/2015
The Organisation for Economic Cooperation and Development (OECD) – the international standards-setter for tax transparency and cooperation – has underlined Guernsey’s reputation as a cooperative jurisdiction.
Monica Bhatia, Head of the Secretariat of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes, says: "I am very surprised that Guernsey has been included in a list of non-cooperative jurisdictions. We are very pleased with the cooperation Guernsey has shown as a very active member of the Global Forum.
“It has demonstrated its commitment to upholding the highest standards of transparency and exchange of information. This is evident
- 07/07/2015
Hedge funds suffered a blow in June, with the Lyxor Hedge Fund Index down 2 per cent. The industry is nonetheless outperforming traditional asset classes in a context in which the correlation between equities and bonds is positive. In June, the MSCI World was down 2.6 per cent and sovereign benchmarks were down on both sides of the Atlantic (the 10-year Bund price is down 2 per cent; 10-year Treasury price down 1.7 per cent).
- 06/07/2015
Hawksford has appointed Moira Ashby as an associate director. Ashby (pictured) will be part of the team responsible for defining, building and growing Hawksford’s corporate business.
A tax specialist, she has had extensive exposure to a large variety of corporate clients including trading businesses, banks and life assurers. Over the past nine years she has been involved with complex engagements ranging from UK and Jersey tax compliance through to structuring advice, transactions, due diligence and FATCA/CRS advisory.
Ashby joins Hawksford from Ernst & Young in Jersey where she worked for four years in the financial services tax team. Prior
- 06/07/2015
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