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PEGAS, the pan-European gas trading platform of EEX Group operated by Powernext, registered 153.1 TWh on its Futures segment in July 2019.
Those strong results were driven by the great performance of the Dutch TTF, which has reported its second best month since the creation of the platform with 126.3 TWh (record month: 131.0 TWh in February 2016).
The Austrian CEGH VTP also contributed to this dynamic and reported a record-breaking month with 9.1 TWh of futures products traded (previous record: 8.8 TWh in August 2018).
With 110.1 TWh exchanged in July, the spot segment registered a 30 per cent
BCS Global Markets (BCS GM), has appointed Andrew Richards as Prime Services Sales Director. Based in London, Richards will be supporting the firm’s expansion by strengthening and expanding the global investor base in the US, Europe, Emerging and frontier markets and will report to Tim Bevan, CEO of BCS UK.
Richards (pictured) will also be responsible for selling the firm’s flagship International Prime Services offering, primarily Synthetic/Physical Prime & Execution, to the small- and mid-tier Hedge Fund community across various strategies, including Equity, Derivatives and Fixed Income.
Andrew has over 15 years of experience delivering exceptional business development and relationship
GAM’s alternative risk premia strategy has surpassed USD2 billion in assets under management (AuM) with inflows from multiple institutional investors in July bringing 2019 year to date inflows to more than USD 600 million and AuM to USD 2.4 billion in total.
GAM Systematic’s alternative risk premia strategy typically targets around 15 risk premia strategies across the style categories of value, momentum and carry. The team, which benefits from industry leading expertise built over almost 15 years, uses a disciplined research process to design, systematically implement and cost-effectively trade the various risk premia. In doing so, the team seeks to
Ropes & Gray advised Hamilton Lane on Hamilton Lane Strategic Opportunities Fund V which has attracted more than USD760 million in commitments from a wide range of global LPs including repeat as well as new investors from Asia, the Middle East, Europe and North and South America.
The Fund announced its final close on 30 July.
The Series is focused on making credit-oriented investments with consistent cash yield, shorter duration and attractive risk-adjusted returns. Consistent with previous vehicles, the Fund is comprised of a diverse set of institutions, including Taft-Hartley pension funds, insurance companies, high-net-worth individuals and endowments and foundations.
Research by global financial services regulatory consultancy Bovill finds that despite the FCA pursuing 19 investigations under the Senior Managers and Certification Regime (SMCR), to date there has been only one successful enforcement action.
The findings come two and a half years after the regulation’s introduction, which aims to bring culpable senior individuals in financial services to account for misconduct. Bovill suggests that, despite the regulator’s desire to show the effectiveness of SMCR, punishments are proving difficult to enforce under the new rules.
The Freedom of Information Request issued to the regulator reveals that 19 companies had been
Ares Management Corporation (NYSE: ARES) has appointed Joel Holsinger Co-Head of Alternative Credit for the firm’s Credit Group, effective immediately.
Holsinger will serve on the Ares Management Committee and work alongside Keith Ashton as Co-Head of Alternative Credit to expand the firm’s global coverage of the USD4 trillion alternative credit sector. Ares Management’s Alternative Credit strategy pursues asset-focused direct investments primarily in North America and Europe across a spectrum of specialty assets, real assets and financial assets.
“We are very excited about our substantial and growing presence in the alternative credit sector, and we see similarities between today’s alternative credit
At nearly USD8 trillion, the US defined contribution (DC) retirement market remains one of the largest – and growing – opportunities for asset managers. From 2007 to 2017, net assets grew by 67 per cent, increasing by USD3.1 trillion.
Cryptocurrency trading firm GSR has appointed Xin Song as a specialist advisor to oversee expansion into Mainland China.
With this move, GSR, which already has a presence on three continents and employs a staff of over 30 financial specialists and traders, will be focusing expansion efforts on institutional counterparties in China that have a need for advanced cryptocurrency products and services.
Xin will work with the Global Markets team, leading strategy in Asian markets and continuing to expand GSR’s product offering in Derivatives and Structured Products. Xin has extensive experience in cryptofinance and derivatives, most recently as CEO of
In July 2019, the European Energy Exchange (EEX) increased its volume on the power derivatives market by 55 per cent to 331.4 TWh compared to the previous year (July 2018: 213.8 TWh).
In particular, the markets for Austria and France achieved strong growth rates. In the Austrian Phelix-AT Future, trading volumes increased five-fold to 771,484 MWh (July 2018: 136,690 MWh) while volumes in the French market doubled year-on-year to 36.8 TWh (July 2018: 18.2 TWh).
In addition, power futures for Germany (215.1 TWh, +67 per cent), Italy (47.3 TWh, +27 per cent) as well as Central- and South-Eastern Europe (14.1
Axioma, a global provider of services including multi-asset enterprise risk management, portfolio construction, performance attribution, regulatory reporting and custom index design, is to integrate OpenFin with its enterprise solution axiomaBlue technology layer.
Axioma will deploy its portfolio risk management dashboard application on OpenFin as the first phase of the partnership. The result is a combined technology stack that provides front and back-end optimization, app deployment, and collaborative workflows for Axioma clients.
Fabien Couderc, Chief Strategy Officer, Axioma, says: “This strategic partnership is the first step in what will be a transformative journey for Axioma as we aim to facilitate a straightforward
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