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Mindful Wealth, an Asset Management company with around US$600 million under management, has successfully completed the VCC Pilot Programme with the Monetary Authority of Singapore (MAS) and re-domiciled one of its funds, Avenida CLO Equity Fund, from the Bahamas to Singapore. MAS has recently introduced a new Variable Capital Companies (VCC) framework to provide a new corporate structure for investment funds which seeks to facilitate the co-location of fund managers’ substantive fund management and domiciliation activities in Singapore. VCC is constituted under the Variable Capital Companies Act. After MAS launched the VCC framework, it has been running a pilot programme for
Convertible bond arbitrage strategies may hold half of the reported short positions in Tesla, as short bets against the electric carmaker remain resilient despite its market value roaring past USD150 billion this week.
City law firm McCarthy Denning has appointed Justin Conway, a pan-European Special Situations and Credit Trading lawyer, as a Partner in its Banking & Finance Department.
Cowen has entered into an agreement to cooperate with Global Prime Partners (GPP) to transition GPP’s International Prime Brokerage business to Cowen. Cowen and GPP will work together to implement this transition efficiently and with a commitment to best serve GPP’s clients and personnel, as well as maintain the level of services current GPP clients have come to expect.
As part of the agreement, Cowen has hired GPP’s prime brokerage team, including personnel from the sales, operations, client service, onboarding and trading teams. GPP will also provide Cowen with Custody, Clearing and other related services. Additionally, Cowen will acquire from GPP
AiX has launched what it says is the world’s first natural language Artificial Intelligence (AI) broker platform, facilitating automated peer-to-peer trading in institutional over-the-counter (OTC) markets.AiX aims to transform OTC markets through its unique AI-driven negotiation and matching engine, executed through the AiX chatbot, which enables instant access to global liquidity, immediate price discovery, best execution and automatic settlement while ensuring anonymity. Facilitated through natural language processing and cognitive reasoning, the AiX chatbot serves the role of a human voice broker but uses technology that allows it to process thousands of orders accurately at a fraction of the cost for the end-user.
Initially live in global cryptocurrency markets, AiX’s first negotiated
Truss Edge, a specialist technology platform for ETF and hedge fund operations, has updated its true STP Safari platform, which grew out of the operational and reporting needs of a large macro hedge fund, and now serves the front, middle and back office automation requirements of both hedge funds and ETFs.
GMEX Group (GMEX), a specialist in digital business and technology solutions for exchange and post-trade operators, and Digital Partners Network (DPN), have launched the Seychelles-based Securities, Commodities and Derivatives Exchange (SECDEX).SECDEX is a fully regulated, multi-asset, hybrid (both traditional and digital) exchange which aims delivers seamless trading, clearing and settlement by combining the market infrastructure experience of GMEX, as a founding shareholder, with the professional services of DPN, as a co-founding shareholder.
These include specialist legal, finance, compliance, corporate structuring services and investment opportunities through a tokenised digital fund.
This means that in addition to the listing of traditional securities
Leucadia Asset Management, has formed a strategic relationship with Dymon Asia Capital and made an investment in the Dymon Asia Multi-Strategy Investment Fund. In connection with the transaction, Leucadia Asset Management will acquire an economic interest in certain of Dymon Asia Capital’s strategies. Dymon Asia Capital is a leading Asia-focused alternative investment management firm managing strategies across public and private markets globally.
The new fund will invest in Asian equities, currencies and bonds through 26 of Dymon Asia Capital’s portfolio managers. In addition to being a cornerstone investor in this new fund, Leucadia Asset Management will provide certain services to Dymon
Pirum Systems has launched IM Instruct which is designed to help users of OTC Derivatives instruct IM to the various Triparty and Third-Party Custodian collateral venues and replace the multitude of instruction operating models by delivering a single, automated, exception-based solution.IM Instruct meets the industry’s need to standardise the various instruction flows across all collateral venues into a single instruction platform. Users simply integrate once with IM Instruct and achieve real-time two-way connectivity to all their Triparty and Third-party Custodian collateral venues. Pirum allows users to instruct, monitor and manage the full instruction and affirmation process to maximise STP and
International law firm Sullivan & Worcester has appointed Jennifer Pastarnack as a partner to lead its firmwide Global Debt and Claims Trading practice in New York.“At Sullivan, client relationships are at the core of our success. Jennifer brings that same client-focused, value-driven mentality to her practice. She has tremendous experience in a specialised area of the markets our domestic and international clients are interested in,” says Joel Carpenter, managing partner of the firm. “She is a great fit and we’re pleased that she’s chosen Sullivan as her new professional home.”
Pastarnack works with hedge funds, investment banks and asset managers
