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Commerzbank is to a pay USD12 million civil monetary penalty to settle CFTC charges relating to numerous violations of the Commodity Exchange Act (CEA) and CFTC Regulations, including failing to supervise its Swap Dealer’s activities for more than 5 years and making misleading statements and material omissions to the CFTC concerning its Swap Dealer’s operations and compliance with the CEA and CFTC Regulations.
Commerzbank AG is a global banking and financial services company based in Frankfurt, Germany, that has been provisionally registered with the CFTC as a Swap Dealer since 31 December 2012.
Commerzbank is also required to comply
Arquitos Capital (Arquitos) has become the first independently-run client of Willow Oak Asset Management’s (Willow Oak) fund management services (FMS) offering.
Previously, Willow Oak has started or seeded other funds on its platform.
Michael Bridge, chief executive officer for Enterprise Diversified (ENDI), Willow Oak’s parent company, says: “Asset management is in our DNA at ENDI. Our primary focus going forward is expanding our successful Willow Oak asset management platform. We are, therefore, excited to add Arquitos to our Willow Oak platform, which also includes Alluvial, Bonhoeffer, and Willow Oak Select. The addition of Arquitos to Willow Oak FMS enables
SANNE, a specialist provider of outsourced corporate, fund and private client administration, has promoted Karlien De Bruin to Director and Head of SANNE’s Management Company (Manco) business in South Africa.
In her new role, Karlien (pictured), will lead a team of business and operational professionals in delivering best-in class expertise whilst promoting and growing the Manco business.
Graeme Rate, Head of Hedge at SANNE, says: “This promotion reflects my confidence and that of SANNE’s that Karlien is the right person to continue driving and strengthening our Manco business. Karlien is an experienced leader with a broad and deep
The Carlyle Group (NASDAQ: CG) has made a strategic investment in alternative investments platform iCapital Network.
Abacus Group, a provider of hosted IT solutions and application hosting for alternative investment firms, has completed the acquisition of Hedgepoint Solutions, a boutique IT consulting firm based in New York City.
“Abacus Group has been doing some amazing things in the hosted IT space, growing not just throughout the US but also internationally into the European market. I’m excited for us to integrate with such an innovative company,” says Vick Manocha, Managing Director of Hedgepoint Solutions.
Founded in 2001, Hedgepoint Solutions has provided a wide array of technology services to businesses across various industries and sectors, with a
Fincross International (incorporated as RUBIX Financial Group Ltd) has received an in-principle approval for an investment banking license from the Financial Services Commission of Mauritius (FSC).
Led by former Société Générale CEO of the Middle East and Africa, Eddy Abramo, Fincross International is building an ecosystem of financial products and services based on proprietary distributed ledger technology, which it says will ‘revolutionise the creation, management, safeguarding and settlement of financial products and tokenised assets for institutional, corporate, intermediary and private clients’. The company is regulated by the FSC and has welcomed EY onto its advisory board.
Mauritius, an
Following a slightly challenging September period, CTAs reported negative performance in October, according to data released by Societe Generale.
All CTAs entered into negative territory, both for the month and YTD, with the SG CTA Index down 2.79 per cent and the SG Trend Index down 4.29 per cent. The short-term and quant macro strategies fared considerably better as the SG STTI Index was down marginally by 0.40 per cent.
Continuing from September’s slight drop, losses were driven primarily by trend-following strategies, with losses in commodities, equities and bonds. Commodities were a particular drag on results, with the upwards
Powernext has introduced new PEG Spot contracts on its trading platform PEGAS to accompany the merger of the PEG Nord and TRS hubs, which completed on 1 November 2018.
PEG Futures products were already available since 28 September 2018 and successfully traded during the month of October. The first PEG Spot instruments became tradable on PEGAS on 30 October 2018.
Benoit Pouzieux, Gas System Managing Director at GRTgaz, says: “The design of the selected solution was carefully elaborated together with market participants, French TSOs, and CRE (Commission de régulation de l’énergie), in the scope of the ‘Concertation Gaz’ process
LaSalle Investment Management (LaSalle) has launched LaSalle Global Partner Solutions (LaSalle GPS), a new fully integrated division dedicated to building robust, indirect investment portfolios by partnering with expert real estate operators across the world.
The launch follows the closing of La Salle’s acquisition of the Real Estate Multi-Manager business of Aviva Investors.
The new platform will offer a range of opportunities across private, public, debt and equity segments through investment in third-party and in-house funds, joint ventures, co-investments and secondaries.
LaSalle GPS will be led by CEO, Ed Casal, who joined LaSalle from Aviva Investors where he was
Natural language processing (NLP) is changing the way humans interact with machines in ways that were unthinkable a decade ago. Thanks to huge advances in machine learning, driven and supported by ever-faster computer processing, we are increasingly using NLP tools such as Amazon Alexa, Siri, Google assistant, Cortana, Bixby, and interacting with chatbots from our service providers.
