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Investcorp has appointed Sunil Gaglani in the newly-created role od chief risk officer of the firm’s hedge fund business. Gaglani will be responsible for monitoring the risks of investments made across the firm's Hedge Funds business including fund of funds, single managers, special opportunity and alternative beta portfolios. He will be a member of the Hedge Funds Investment Committee and report to Lionel Erdely, Head and Chief Investment Officer of the Hedge Funds Group at Investcorp. Erdely, says: "We are pleased to welcome Sunil to Investcorp. I am confident that his extensive experience in managing hedge fund risks will further
ITG, the independent execution broker, has been appointed as a US trading intermediary for Bondcube’s buy-side to buy-side trades. As a US trading intermediary on Bondcube, ITG will facilitate the settlement of trades between buy-sides. The partnership will increase the probability of a match for clients of both firms by allowing ITG clients access to the additional Bondcube liquidity and participants and vice-versa.   Frank DiMarco, Head of Fixed Income Electronic Trading at ITG, says: “We are delighted to connect to Bondcube as a US intermediary. It means our clients can now access an additional pool of liquidity to improve
DBV-X, a new EU regulated marketplace for collateral and secured deposits, is to go live in Europe later this year. Focused solely on funding and collateral needs, DBV-X will offer market participants access to a diverse range of counterparties and liquid assets.  All participants sign a single standard legal agreement to join the platform and have full control over the products and counterparties used, thereby enabling a peer-to-peer market to flourish.   The platform will offer full pre-trade counterparty anonymity, price transparency and a choice of execution models. Market participants are able to trade automatically within their risk limits to
Managed futures traders lost 1.27 per cent in April according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 2.22 per cent year to date. “Sharp trend reversals in commodity and bond markets, coupled with a rapid unanticipated decline in the value of the US Dollar, led the Barclay CTA Index to its worst month since May 2013, when it dropped 1.58 percent,” says Sol Waksman, founder and president of BarclayHedge. All eight of Barclay’s CTA indices had losses in April. The Diversified Traders Index was down 2.07 per cent, Systematic Traders lost 1.58 per cent, Discretionary
FIX Trading Community, the non-profit, industry-driven standards body at the heart of global financial trading, has announced the results of its Global Post-Trade Survey used to determine the use of FIX in the post-trade workflow.  An overwhelming majority of respondents asserted their use of FIX for the confirmation/affirmation process. The purpose of the survey was to see where work needs to be done by the Global Post-Trade Working Group (GPTWG), in terms of both geographical and asset class perspective. The survey was distributed to the broker/dealer community in January 2015, and invited them to complete a series of questions regarding
The average time taken to exit private equity-backed buyout investments has increased year-on-year since 2008. In this extract from the Preqin Private Equity Spotlight: May 2015, Anna Strumillo and Ciantelle Lawrence conduct an in-depth analysis of buyout holding periods. Private equity investments are traditionally long-term investments with typical holding periods ranging between three and five years. Within this defined time period, the fund manager focuses on increasing the value of the portfolio company in order to sell it at a profit and distribute the proceeds to investors. This in turn determines how quickly and how much the investors can
A new start-up in digital currency, CRYEX, has filed an application with the Swedish Financial Supervisory Authority (Finansinspektionen) to become one of the world’s first regulated crypto currency clearing organisations.  CRYEX intends to create a members-only European marketplace for trading FX, including digital currencies like bitcoin and other crypto currencies.    CRYEX will provide a gateway between traditional regulated financial industry players and digital currencies. The new trading and clearing platform will enable regulated market participants to trade a full suite of spot products − even derivative products − in a highly secure and regulated environment.   CRYEX has chosen
BullionVault.com, one of the world's largest physical online gold and silver markets, has seen an increase in the amount of larger investors turning to gold in the UK. In the case of gold specifically, the average purchase size amongst customers depositing GBP100,000 or more is now 26 per cent greater by weight so far in 2015 from the 2014 average, and 20 per cent greater than the same period last year.  UK residents have made 40 per cent of 2015's larger deposits to date, but accounted for only 27 per cent during the same period last year.   But it’s
The London Pensions Fund Authority (LPFA) has selected an affiliate of Apollo Global Management as its alternative credit manager.  Subject to final documentation, Apollo will oversee the LPFA’s GBP150 million allocation to alternative credit including distressed debt, real estate debt, leveraged senior loans and private lending.  The mandate will be unconstrained and target absolute returns by investing across a number of higher yielding debt markets. It is expected that the majority of investments will be made within developed markets; however, there is also scope for allocations to emerging markets.  Apollo’s appointment was made after a thorough two-part tender process, which
Interactive Data, a provider of fixed-income evaluated pricing, is to launch a new Indicators Service in July, leveraging the same fixed income evaluated pricing and reference data content that supports pricing and trading functions at buy-side and sell-side firms. As global financial markets prepare for the effects of a rise in interest rates, there is widespread concern that an imbalance of supply and demand could lead to increased volatility in fixed income markets and constrain liquidity. At the same time, regulatory pressures have caused certain types of market participants to increase their regulatory capital, and reduce or eliminate fixed income

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