Digital Assets Report

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The international derivatives exchanges of Eurex Group recorded an average daily volume of 8.0 million contracts in June, down from 10.1 million in June 2013. Of those, 6.0 million were Eurex Exchange contracts (June 2013: 8.1 million), and 2.0 million contracts (June 2013: 2.7 million) were traded at the US-based International Securities Exchange (ISE).   In total, 126.0 million contracts were traded at Eurex Exchange and 42.0 million at the ISE.   In its largest segment – equity index derivatives – Eurex Exchange achieved 56.4 million contracts (June 2013: 68.3 million). The single largest derivatives contract was the future on
Intercontinental Exchange (ICE) has completed the transition of Liffe US futures and options contracts to the ICE futures exchanges, trading platform and clearing infrastructure. The Liffe US MSCI equity index and precious metal contracts were transitioned to ICE Futures US and ICE Clear US on 30 June 2014, where they trade and clear alongside ICE’s agricultural commodity and Russell index futures and options contracts.   The transition of Liffe US MSCI equity index and precious metal contracts involved the organisation’s global customer base with 500,000 contracts being transferred to ICE Clear US and an additional USD1.9 billion margin transferred to
BlueBay Asset Management, a manager of fixed income and alternative investment products, has chosen Confluence’s Unity NXT regulatory reporting solutions to automate its data reporting processes. BlueBay will use Unity NXT AIFMD Transparency Reporting, Unity NXT Form PF Reporting and Unity NXT Form CPO-PQR Reporting to collect its data and file the required reports.   Unity NXT regulatory reporting solutions solve complex data aggregation and reporting challenges, including those associated with AIFMD, Form CPO-PQR and Form PF reporting. These solutions are designed to provide asset managers with completeness, accuracy and control over each respective reporting process, assisting them in the
Regulation will be the key driver in the next phase of the rapidly evolving hedge fund industry, according to Part II of Citi Investor Services’ fifth Annual Industry Evolution survey. Previous Citi surveys have discussed key drivers of the industry since the global financial crisis, and throughout this period a broad and significant set of global regulations was being formulated.   The complexity and scope of the rulemaking has so far had no real impact on the day-to-day operations of hedge funds. But now, with major implementation deadlines from the overhang of Dodd-Frank, Basel III, EMIR and AIFMD finally upon
The Securities and Exchange Commission (SEC) has secured a final judgment setting disgorgement of USD1,29,800 and a civil penalty of USD300,000 against OM Investment Management and Gignesh Movalia. The SEC action arose from the defendants’ efforts to fraudulently raise money for the OM Global Investment Fund, an unregistered pooled investment vehicle formed in 2009, to acquire pre-IPO shares of Facebook.   In its complaint filed on 27 September 2013, the Commission alleged OMIM and Movalia falsely represented to a group of investors their interest in Facebook stock would be segregated in a special “side pocket” within the fund, when in
Gloria Pfaue and Andreas Heuer are to be the new managing directors of Eurex Bonds with effect from 1 July 2014. The Deutsche Börse subsidiary is an electronic trading platform for fixed-income securities and treasury discount papers between banks.   Business administration graduate Pfaue has been a consultant for Eurex Bonds since 2010. Prior to that, she was responsible for the German-speaking region at EuroMTS in London, and spent over ten years in various specialist and management roles at the Unicredit Group.   Business graduate Heuer spent 14 years in various management positions within Deutsche Börse Group, where he in
RWC has appointed Matteo Cianfoni and Roderick Loffler to its sales team to bolster resources in Italy and the UK.  Cianfoni, who will join RWC in August, was responsible for Italian sales at GLG for almost five years having previously worked at Morgan Stanley in the equity derivatives division.    Loffler has been at RWC for three years and joins the sales team from his previous role within client services.    In addition, RWC recently hired Jillian Smythe and Flora Summerfield. Smythe worked at Plurimi Capital having spent more than four years at Bank of America Merrill Lynch in Prime Brokerage.
Last year, 26 out of 32 specialised funds, designed to invest in small and mid-sized enterprises (SMEs) and provide a much-needed alternative source of funding, launched to invest in Europe. This would suggest that Europe represents a significant opportunity for asset managers and shows that the loan and private debt market is really starting to build traction. These (typically) closed-ended vehicles now account for 40 per cent of the funds dedicated to financing European companies.   At least that is according to a report released this spring by Bologna-headquartered Prometeia; a 400-person consulting company specialising in business consulting, risk management,
The Association of the Luxembourg Fund Industry (ALFI) and the Asset Management Association of China (AMAC) have signed a memorandum of understanding (MoU) designed to deepen their collaboration. The agreement focuses on developing activities to create mutually beneficial opportunities for the fund industries in both countries.   Luxembourg is the second largest investment fund industry in the world after the US and a valuable partner for the Chinese asset management industry in its strive to diversify internationally.   The agreement was signed in Beijing by Marc Saluzzi, chairman of ALFI, and Sun Jie, chairman of AMAC, on the sidelines of
The mutual fund that helped launch the liquid alternatives product category, IndexIQ’s IQ Alpha Hedge Strategy Fund, is celebrating its sixth anniversary. The fund was the first no-load, open-end hedge fund replication mutual fund.   “The launch of the IQ Alpha Hedge Strategy Fund was a key moment for us in the development and evolution of our firm, as well as for what was then the nascent ‘liquid alternatives’ product category,” says Adam Patti, chief executive officer at IndexIQ. “In the ensuing six years, financial advisors, retail investors, and institutions have all come to embrace liquid alternatives, and the diversification,

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