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BNF Capital, SteelEye, Talan, Lyxor Asset Management, Kreston Reeves, Sandler Capital, Hentu, GlobeTax, Wavestone, Margo Group, and Equita have all been confirmed as sponsors of the 2nd annual Rocktoberfest-London which is due to take place on 19 June to raise funds for UK and US charity A Leg To Stand On (ALTSO).
Members of the hedge fund and private equity communities will come together for a night of live rock & roll entertainment, to support ALTSO’s mission of providing free prosthetic limbs, mobility aids, and wheelchairs to children in the developing world.
Since its foundation in 2002, ALTSO has helped to treat over 18,000 children with
Apex Group, a global financial services provider, has appointed Andrew Macklin as General Counsel and member of its Executive Committee.
Apex has expanded exponentially over the past eighteen months diversifying its product set following a number of bolt-on acquisitions around the world. The appointment of Andrew supports the strategy to broaden Apex’s capabilities beyond asset management services, into the institutional provider space.
Most recently Head of Legal at Monzo Bank, Andrew has strong experience advising high growth companies. Prior to moving in-house, Andrew held senior roles at top-tier international law firms Latham & Watkins and White & Case and
The size of the unlisted closed ended fund (CEF market) has grown steadily since 2014, ending 2018 at nearly USD53 billion in assets under management, according to a new report by UMB Fund services and FUSE Research Network (FUSE).
The third edition of the annual report, which covers both interval and tender offer funds, reveals that the former, in terms of number and assets continue to outpace the latter. Since 2014, interval funds have grown at an annual rate of 42.9 per cent to end 2018 with USD27.2 billion in assets. During the same period, tender-offer funds dropped to USD25.6
The European Fund and Asset Management Association’s (EFAMA) Quarterly Statistical Release for the first quarter of 2019 reports a strong increase in net assets of UCITS and AIFs, driven by the rebound of financial markets.
Net assets of UCITS increased by 7.8 per cent to EUR10,004 billion, while net assets of AIFs increased by 6.4 per cent to EUR6,247 billion.
The release also reports a sharp increase in the demand for bond funds in response to a move towards more dovish monetary policy in Europe and the United States.
Net sales of UCITS and AIF bond funds sales turned positive
Outsourcing the trading function has become an important trend within the hedge fund industry as managers, both large and small, look to generate marginal gains by reducing the cost of operations.
A report by Greenwich Associates in December 2018 found that 71 per cent of respondents were “extremely satisfied” with their outsourced trading service providers. Some of the key reasons why managers decided to opt for outsourcing were found to be: the need for additional support for their own trading desks, cost savings and improved execution performance.
JonesTrading Institutional Services, one of the oldest and largest broker/dealer executing equity trading firms
PEGAS, the pan-European gas trading platform operated by Powernext, registered in May 2019 the highest total volume ever traded on the platform: 254.3 TWh. The previous record dates back February 2016 when 228.4 TWh were traded.
This performance resulted from a volume record on PEGAS spot segment with 149.3 TWh (previous record in March 2018: 133.4 TWh), which, in turn, was driven by a new record on the PEGAS TTF spot segment, where 66.9 TWh were traded (previous record in March 2019: 53.1 TWh).
Derivatives trading amounted to 105.0 TWh, an increase by 39 per cent compared to the previous year
Bardin Hill Investment Partners (Bardin Hill) has appointed Kevin Silva as Global Head of Business Development and Investor Relations. Silva, who joins the firm as a partner, will focus on expanding the firm’s relationships with investors and will oversee the Client Relations Department.
“We are thrilled to welcome Kevin to the Bardin Hill team,” says Jason Dillow, Chief Executive Officer and Chief Investment Officer of Bardin Hill. “He has earned a superb reputation over more than 20 years for successfully managing global capital formation teams and developing strategies that meet investor needs. His expertise, vision, and leadership will guide Bardin
SteelEye, a compliance technology and data analytics firm, has launched a new ‘MiFID II Eligibility as a Service’ tool.
MiFID II brings many challenges to buy and sell-side firms, including the requirement to report trades to the regulator on a t+1 basis. Determining which trades are eligible for reporting is no easy task due to the complex reporting rules and various exceptions under the European directive. For firms, this has become an ongoing challenge, requiring significant time investment and vast amounts of external market data.
SteelEye’s ‘MiFID II Eligibility as a Service’ tool tackles this challenge by helping firms
The European Energy Exchange (EEX) significantly increased trading in Austrian power futures in May, achieving a volume of 862,481 MWh (May 2018: 52,486 MWh), completing the shift in liquidity from the former combined DE/AT contract to the current individual DE and AT contracts.
In addition, the Central- and South-Eastern European power derivatives markets also saw a strong upswing, increasing volumes by 62 per cent to 15.9 TWh (May 2018: 9.8 TWh). In total, EEX reached a volume of 269.4 TWh on its power derivatives markets (May 2018: 306.9 TWh). The decline is mainly driven by decreased trading volumes in power options
Derivatives trading firm The Chicago Trading Company (CTC) has named Daniel Feuser as its next CEO.
Feuser, who has been with CTC in a variety of roles in 20 years with the company, most recently, served as Chief Strategy Officer, where he led the firm’s efforts to evolve its core business and expand into new businesses.
Previously, Dan served as Chief Operating Officer where he oversaw the Trading, Quant, Technology, and Operations functions of CTC.
“I am profoundly grateful for the opportunity I’ve had these past 20 years to work with such an incredible team of collaborative, caring, and talented people.
