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The US Commodity Futures Trading Commission (CFTC) has provided time-limited no-action relief concerning swap execution facility (SEF) access for block trade execution.
This time-limited relief to SEFs is until 15 December 2015 at 12:00 am EST.
The relief granted will facilitate market compliance with credit screening and efficient straight-through processing requirements for block trades.
A block trade is, among other things, a publicly reportable swap transaction that “[o]ccurs away from the registered [SEF’s] or [DCM’s] trading system or platform and is executed pursuant to the registered [SEF’s] or [DCM]’s rules and procedures.” (Commission regulation 43.2)
A Futures
- 22/09/2014
SunGard has launched its APT Enterprise platform, which provides integrated risk management through an interactive risk dashboard for buy-side firms.
The new platform will provide asset managers with a competitive advantage derived from an intuitive and coherent analysis of both market and liquidity risks.
This is achieved by improved modelling of multi asset class portfolios, and by streamlining the workflow for market data management. With this capability, asset managers will have the flexibility to enhance their investment strategies, and to realise substantial operational efficiencies through large-scale automation of risk reports.
Leveraging SunGard’s fully hosted risk managed service, APT
- 22/09/2014
The Alternative Investment Management Association (AIMA), the global hedge fund industry association, has formed a new AIMA Council, its global board of directors.
The former US SEC commissioner Kathleen Casey (pictured) continues as non-executive chairman.
The newly elected members of the AIMA Council are:
· Karl Wachter, general counsel, Magnetar Capital;
· Eva Sanchez, general counsel, Citadel Europe; and
· Choo San Yeoh, director, Albourne Partners (Asia).
Those continuing their directorships of AIMA are:
· Olwyn Alexander, partner, EMEA hedge funds leader, PricewaterhouseCoopers;
· Andrew Bastow, vice-president – head of European structuring and regulatory affairs, AQR
- 22/09/2014
- 22/09/2014
Workflow efficiency is becoming increasingly challenging for hedge fund managers as they look to launch multiple fund structures. Managing multiple hedge funds as well as separately managed accounts often leads to multiple systems, data flow complexity and a web of counterparty relationships to make sense of.
There can be little room for error in today’s regulatory environment. As a result, managers are turning to solutions that can handle front to back trade cycles using one integrated solution to mitigate the risk of data discrepancies.
In a recently published case study, New York-based Liquid Holdings, a cloud-based technology platform supporting
- 22/09/2014
Fuchs & Associés Group has been granted authorisation by the CSSF for Fuchs Asset Management SA, its Luxembourg-based super management company (Super ManCo).
Fuchs Asset Management SA, which was created on 10 June 2014, operates in accordance with Luxembourg’s laws on undertakings for collective investment schemes (UCITS) and the Alternative Investment Fund Managers Directive (AIFMD).
Fuchs Asset Management offers a wide range of services for investment funds within structures governed by the UCITS and AIFMD directives, including private equity and real estate funds, as well as structuring solutions, risk management and compliance and the relocation of funds. Fuchs Asset
- 22/09/2014
- 22/09/2014
London-based Source, one of Europe’s leading ETF providers, this week announced that it was launching its first product in the US. Source’s first investment product to be listed on the New York Stock Exchange is the Source EURO STOXX 50 ETF, which offers highly liquid exposure to the largest blue chip stocks in the Eurozone.
The firm’s US launch is spearheaded by a management team of ETF veterans led by co-founders Ted Hood, CEO, and Peter Thompson, Chief Strategy Officer. They are joined by Executive Chairman Lee Kranefuss, an ETF pioneer and the architect of iShares, and Senior Advisor Richard
- 21/09/2014
The Irish Funds Industry Association (IFIA) has welcomed the consultation by the Central Bank of Ireland (CBI) to enhance fund management company effectiveness and efficiency.
The consultation proposes further enhancements to the existing governance structure and includes a proposal to rationalise the current list of 15 designated functions under AIFMD to six functions.
It is also proposed that UCITS management companies (and self-managed UCITS) managerial functions will similarly be rationalised to six.
In order to ensure the availability of the necessary skillsets required to oversee these functions the CBI are relaxing their requirement to have two Irish resident
- 19/09/2014
The Irish Funds Industry Association has welcomed the announcement by the Central Bank of Ireland (CBI) on the finalisation of the framework for Ireland’s loan origination fund structure.
This will be the first dedicated regulatory regime in the EU for loan funds and will operate under the EU’s Alternative Investment Fund Managers Directive (AIFMD).
Managers who are authorised AIFMs and that meet the additional conditions under the Central Bank’s AIF Rulebook will be able to avail of the new structure in order to market loan origination funds within the EU under the AIFMD passport.
The funds will be
- 19/09/2014
Omni Partners, the alternatives specialist set up by trading veteran Steve Clark in 2004, is preparing to launch its fourth product, Omni European ELS, to external investors.
Omni European ELS follows a low net European equity long/short strategy by pursuing opportunities in liquid large-cap equities in developed Europe identified via a dynamic valuation and factor process.
Omni European ELS is managed by Howard Spooner and Hugh Selby-Smith.
Spooner serves as chief investment officer and has more than 30 years of trading experience. He was most recently head of European equity trading at Barclays and previously spent time at
- 19/09/2014
STOXX has launched the STOXX Global 3D Printing Tradable Daily Short Index, which has been licensed to HypoVereinsbank onemarkets (UniCredit Bank AG) to serve as the basis of an index certificate.
“The STOXX Global 3D Printing Tradable Daily Short Index is the latest addition to our suite of innovative short and leveraged strategy indices,” says Hartmut Graf, chief executive officer, STOXX Limited. “The new index offers access to the 3D Printing sector, and allows sophisticated market participants to make tactical investments during bearish markets.”
“Our open-ended index certificate on the STOXX Global 3D Printing Tradable Daily Short Index (DE000HY53DS5)
- 19/09/2014
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