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Citi and Eaton Vance Management have begun clearing FX Cash-Settled Forwards at CME Group with two Euro/US dollar trades cleared on 15 January 2019.
“CME Group is pleased to clear our first cash-settled forwards, which provide a new capital-efficient way for our customers to trade G10 foreign exchange,” says Sean Tully, CME Group Global Head of Financial and OTC Products. “This first cash-settled trade, combined with the recent increase in our Non-Deliverable Forward clearing volume in late 2018, allows us to work with our clients, clearing members and liquidity providers to help customers mitigate their risks through cleared solutions.”
Liquidnet, a global institutional investment network, reached a new record for volume traded in the Australian market in 2018. Local and international asset managers exchanged via Liquidnet a total of AUD11.8 billion in Australian Equities, up 20 per cent from the volume traded the previous year.
The strong block-trading activity on Liquidnet was pushed by an uptick in the use of algo trading solutions by Australian members, with an increased focus on improving execution quality following the introduction of MiFID II in January 2018.
Liquidnet Head of Australia, Kate Weidenhofer (pictured), says: “We’ve had great success in helping asset
The market rebound started at the end of December fuelled strategies that were most exposed to risk assets, such as L/S Equity and Special Situations. This is in sharp contrast to performance in Q4-18, which was dreadful.
That’s according to the latest Weekly Brief from Lyxor’s Cross Asset Research team which says: “Our preferred strategies are those that can navigate fast changing market conditions like those experienced recently. Merger Arbitrage and Fixed Income Arbitrage have met expectations in that respect.”
“CTAs did well in December but are under pressure in January, due to the rebound in equities. The
The Citco Group of Companies (Citco), a provider of asset servicing solutions to the global alternative investment industry, has passed the USD1 trillion mark for assets under management.
Citco says the milestone was reached purely through organic growth, an industry first amongst alternative asset service providers.
The growing drive to streamline operations is leading managers to outsource more functions, including: front office risk reporting, middle office treasury and collateral management, back office financial statements, and tax and regulatory reporting. Simultaneously, growing diversification across asset classes, moves into hybrid strategies and the launch of a wide range of investment vehicles
Northern Trust has named Kimberly Evans as head of Private Capital Fund Administration in North America, leading a growing practice dedicated to providing middle- and back-office solutions for a range of alternative asset class investment managers, including real estate, private debt, infrastructure and both traditional and hybrid private equity funds in the region.
Evans, with 25 years of financial services experience, will focus Northern Trust’s global capabilities on a segment of the alternatives market experiencing rapid asset growth and increased demands for transparency. Northern Trust offers an integrated solution including trade management, reconciliation, risk and analytics, fund accounting, global custody
American credit specialist CIFC has launched a UCITS fund as it builds its presence in Europe. The CIFC Global Floating Rate Credit Fund opens up access to the firm’s structured credit expertise for the first time in a UCITS format.
The fund will invest in some of the more liquid tranches of collateralised loan obligation (CLO) bonds, investing at least half of its funds in BBB-rated bonds.
The fund, which has launched with commitments of over GBP50 million, is managed by structured credit veteran Jay Huang and is targeting a return of 7-8 per cent pa.
Domiciled in
Trillium announced today that leading futures broker Wedbush Futures will now use Trillium’s Surveyor platform for trade surveillance.
“I have worked with several surveillance products over the last couple of years and I am truly impressed with the seamless on-boarding process. We are fortunate to work with Trillium,” says Scott Lamm (pictured), VP of Surveillance, Business Conduct at Wedbush Futures.
“We welcome Wedbush Futures to our growing Surveyor customer base and share in their excitement about this partnership. Surveyor offers its users next-generation detection, visualisation, and workflow functionality to keep up with the demands of current-day trade surveillance. All
Thalēs has appointed David Modiano as Managing Director of its Capital Strategies group. In his new role, he will be based out of New York and will report to Edouard Robbes, President of Thalēs Capital Partners.
Most recently Modiano (pictured), was a Partner and Head of Business Development at Mill Hill Capital, a New York-based credit hedge fund. Prior to that, he spent ten years combined at Investcorp and Lyxor Asset Management where he was second in command in their hedge fund seeding teams.
“David brings a unique perspective and a track record of success in the industry which will be
MUFG Investor Services, the global asset-servicing arm of Mitsubishi UFJ Financial Group, has appointed Daniel McNamara as Chief Strategy Officer to support and shape MUFG Investor Services’ long-term growth plan.
He will be based in London and will report to John Sergides, Chief Executive Officer of MUFG Investor Services.
McNamara (pictured), will have oversight of the six lines of business within MUFG Investor Services, focusing on the use of capital and resources across these business lines, overseeing the delivery of new client solutions, and developing a set of standards and best practices regarding products and services in order to
The Bermuda Monetary Authority (BMA) has recorded a year-on-year increase in new re-insurance registrations, from 58 in 2017 to 75 in 2018.
The greatest year-on-year growth was experienced by Bermuda’s commercial re-insurance sector, ie Class 3A, 3B, 4 general business and Class C, D, E long-term re-insurers; 28 new commercial re-insurers were registered by the BMA in 2018, compared to 17 in 2017. In addition, the growth of Bermuda’s captive re-insurance sector continued its momentum; 19 new captives, ie Class 1, 2, 3 general business and Class A, B long-term re-insurers were registered in 2018, compared to 17 in 2017.
