Market

SGX seeks to widen participation in clearing of OTC financial derivatives

Singapore Exchange is consulting the public on its proposal to extend its central counterparty clearing services for over-the-counter traded financial derivative contracts to participation from non-bank financial institutions. »


Traders

NYSE Euronext global derivatives trading volume up 17 per cent

NYSE Euronext’s global derivatives average daily volume increased 17.5 per cent to 7.1 million contracts traded per day in July 2010.  »


The Interview – Jesse Redmond and Justin Pawl, Evolved Alpha: “Many investors do not realise the hedge fund industry has a surprisingly high correlation to beta markets”

Jesse Redmond and Justin Pawl, founders and co-portfolio managers of multistrategy specialist Evolved Alpha, say the business is structured to provide investors with a portfolio of liquid, secure and transparent alpha-return strategies, retaining the diversification, nimbleness and sophisticated risk management of top multistrategy funds but expanding the universe of potential managers to several thousand rather than the small subset that would trade exclusively in-house for one firm. »

Index

Ucits HFS Index up 0.35 per cent in July

After a slight loss in June the Ucits HFS Index returned a positive result in July 2010. »


Regulation

Hedge fund industry to face extensive regulation in years ahead, says KPMG

A regeneration of the capital markets enabled a relatively successful 2009 for the hedge fund industry, research by KPMG shows. »


Frederic Oudea, Societe Generale chairman and chief executive

Societe Generale reports group net income of EUR1.08bn in Q2

Societe Generale recorded group net income of EUR1.08bn in quarter two 2010 and EUR2.15bn in the first half of 2010. »


Tyler Kim, chief information officer, Maples Finance

Maples Finance adopts Advent Geneva for managed accounts

Fund services provider Maples Finance is using Geneva, Advent Software’s portfolio management and fund accounting solution, to capitalise on the growing demand for managed account administration services among institutional investors. »


Tax

Cayman Finance rejects claims that low tax jurisdictions hurt US economy

The financial services industry in the Cayman Islands has rejected claims by a US business group that low or no-tax jurisdictions hurt the US economy because they encourage tax evasion. »


Trader at screen

DTCC launches equity derivatives reporting repository

The Depository Trust & Clearing Corporation has launched its Equity Derivatives Reporting Repository and has received Financial Services Authority approval for the DTCC Derivatives Repository subsidiary.  »


Walter Lukken, chief executive officer of NYPC

New York Portfolio Clearing appoints chief risk and chief compliance officers

New York Portfolio Clearing has appointed Joseph Benning as chief risk officer and Laura Klimpel as chief compliance officer and counsel. »


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