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Abacus Group, a provider of hosted IT solutions and application hosting for alternative investment firms, has reported revenue growth of 20 per cent year-on-year so far in 2018.
The company has seen a 23 per cent increase in the number of end-users on its flagship IT-as-a-Service product, AbacusFLEXä, and a 28 per cent increase in number of client firms on its cloud platform.
“We marked our first decade of service to the alternative investment community this year, and we are preparing for the next 10 years with a heavy investment in technology and cybersecurity, as well as intentionally-designed office
Global hedge fund asset flows were just slightly positive in August 2018, with USD4.74 billion added to the USD3.3 trillion-plus industry, according to eVestment’s latest Hedge Fund Industry’s Asset Flows Report.
Year to date (YTD) net flows to the industry stand at USD15.38 billion.
Asset flows in August were more widely dispersed across funds and strategies than in the past months. If the trend continues, that would ameliorate some concerns about industry consolidation eVestment data indicated in previous reports, which showed a minority of funds getting the majority of new money.
In spite of performance declines during the
IronX, a new Crypto Exchange joint venture between global online broker IronFX Group and EmurgoHK, creator of the Cardano blockchain, has been awarded full regulatory licence approval by the Estonian Financial Intelligence Unit (FIU).
This licence allows IronX to operate as a fully regulated exchange for the trading of cryptocurrencies.
Estonia, a full EU member-state, adopts a ‘pro-innovation’ approach towards the advancement of DLTs and cryptocurrency regulation and has utilised blockchain technology in its own health, judicial, legislative, security and commercial code registries since early 2012.
The new licence allows IronX to operate as a: provider of a
VTFinTech, a provider of portfolio management and research evaluation services, has joined the OpenFin platform to deploy and deliver its Parity One software at scale to financial institutions.
The Parity One platform that is used by investment firms to build and manage systematic investment strategies end to end. Leveraging its factor-based approach to portfolio construction, its proprietary research evaluation methodologies combine quantitative and qualitative measures to evaluate research under MiFID II.
OpenFin is the first common desktop operating system designed specifically for users in the financial services industry. Used by the banks, brokers, asset managers and hedge funds, OpenFin
Cappitech, a leading provider of regulatory reporting and intelligence technology for the financial services industry, and Trax, a provider of capital market data, trade matching and regulatory reporting services, have entered into an agreement to enable mutual customers to streamline their MiFID II transaction reporting.
The agreement aims to allow financial institutions to meet their MiFID II reporting requirements seamlessly, including daily transaction reporting. Over 40 of Cappitech’s customers are already benefitting from the enhanced MiFID II transaction reporting that the integration offers including German insurance company, Provinzial NordWest; Swiss bank, Swissquote; and Irish broker, AvaTrade.
Ian Webb,
The European Fund and Asset Management Association (EFAMA) has appointed Tanguy van de Werve as its new Director General. He will take up his position on 1 January 2019.
Van de Werve (pictured), will be responsible for the implementation of the Association’s strategic agenda, and the leadership and management of the EFAMA secretariat in Brussels. He will also be the central spokesperson and representative for the European asset management industry with international policy makers, regulators, and other key industry stakeholders.
In a career spanning 25 years, Van de Werve has been instrumental in leading and managing successful advocacy campaigns
The Commodity Futures Trading Commission (CFTC) has issued two orders filing and settling charges against Victory Asset (Victory) and Michael D Franko for spoofing – bidding or offering with the intent to cancel the bid or offer before execution – and the use of a manipulative scheme.
The scheme involved both domestic and international markets and occurred from at least May 2013 to July 2014. One aspect of scheme involved cross-market spoofing – spoofing in one market to benefit a position in another market, where the price of the two markets is generally correlated, particularly in the short term. Franko is
CAMRADATA, a provider of data and analysis for institutional investors, has launched a Private Markets Database giving investors who are looking for more diversification in their investments access to a new private markets screen within CAMRADATA Live.
CAMRADATA Live enables asset managers to showcase their strategies and allows institutional investors and investment consultants to analyse them all in one easy place. Over 2,500 investors and consultants use the portal to search and analyse nearly 6,000 investment products offered by more than 700 asset managers.
Now clients can search in eight private market categories – allowing them to make more informed investment decisions. These
Nikko Asset Management Co (Nikko AM) has established a Corporate Sustainability Department, bolstering its Environmental, Social, and Governance (ESG) commitments both in the way in which it manages itself and how it approaches investing.
Overseen by Representative Director and Executive Deputy President Junichi Sayato and led day-to-day from Tokyo by Global Head of Product & Marketing, and Head of Corporate Sustainability, Stefanie Drews, the Department guides the Firm’s internal ESG commitments and implementation and will work closely with investment teams globally to communicate developments in their approach to ESG in investment processes. Specific internal ESG commitments include nurturing diversity and
Post-financial crisis regulatory changes in derivatives trading have forced change on how UK pension funds and large asset managers conduct their business, according to Maxime Jeanniard du Dot, the COO of derivatives analytics firm OpenGamma.
The regulatory change means that many asset managers and pension funds will be posting initial margin for the first time. Financial institutions with a notional amount of non-centrally cleared derivatives greater than EUR1,500 billion will have to exchange initial margin this month.
OpenGamma estimates that a further 10 firms are expected to be pulled into this tranche, joining the big investment banks already in scope.
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