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CloudQuant has announced a new crowdsourced trading strategy license agreement. This marks the eighth successful partnership with a global algo developer since CloudQuant’s public launch one year ago.
Researchers receive 10 per cent of net trading profits under the terms of the license agreement.
“A crowd researcher can take home USD100,000 per year if his or her licensed trading strategy has a 10 per cent return on investment and is trading a USD10 million or more risk allocation. This type of payout is possible for a college student, data scientist or market enthusiast,” says Tayloe Draughon (pictured), senior product manager.
Neuberger Berman has launched a UCITS strategy tapping into the key enablers and beneficiaries of the long-term evolution of next generation mobility.
The Neuberger Berman Next Generation Mobility Fund aims to exploit investment opportunities created by the ongoing disruption of the USD4.2 trillion global transportation industry.
Originating from Neuberger Berman’s established global research platform, the Fund’s three managers, Saurin Shah, Yan Taw Boon and Michael Barr will be managing a portfolio of 40-60 handpicked stocks, seeking to gain exposure to companies providing solutions to the proliferation of autonomous, electric and connected vehicles, as well as firms well-positioned to benefit
Deutsche Bank AG (DB AG) and Deutsche Bank Securities Inc (DBSI) (collectively, DB), are to pay a USD30 million civil monetary penalty to settle CFTC charges relating to manipulation, attempted manipulation and spoofing of the precious metals futures markets.
A CFTC Order finds that from at least February 2008 and continuing through at least September 2014, DB AG, by and through certain precious metals traders (Traders), engaged in a scheme to manipulate the price of precious metals futures contracts by utilising a variety of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX), and by
The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) has issued conditional, time-limited no-action relief to a banking entity for not counting certain loan-related swaps towards its swap dealer de minimis threshold (under paragraph (4) of the “swap dealer” definition in Regulation 1.3).
The no-action relief provides that DSIO will not recommend that the CFTC take an enforcement action against the banking entity (including any of its insured depository institution subsidiaries, together with their affiliates) for not counting towards its de minimis threshold certain swaps entered into from the date of the no-action relief through
According to a recent risk alert issued by the SEC, investment advisers continue to show deficiencies when it comes to best execution of client securities transactions.
The alert, issued by the Office of Compliance Inspections and Examinations of the SEC, highlighted six areas where advisers typically came up short, including not performing best execution reviews, not seeking comparisons from other broker-dealers, and not fully disclosing best execution practices and soft dollar arrangements.
Jamie Nash (pictured), a lawyer with Kleinberg Kaplan, notes that advisers have a fiduciary duty to seek best execution of client securities transactions, taking into consideration
Kingdom Trust, a regulated financial institution offering qualified custody for digital asset investments like Bitcoin and Ethereum, has secured insurance for assets held on its qualified custody platform through Lloyd’s of London.
“Qualified custody by a regulated, insured financial institution is a top priority and critical hurdle for institutions to invest in the digital asset markets,” says Matt Jennings, CEO of Kingdom Trust. “By adding another trusted specialist like Lloyd’s to our platform, we’re ensuring that current and future clients will have access to a highly-secure, complete safekeeping solution tailored to meet the challenges of institutional finance.”
The company
SmartStream Technologies has added Quality Assurance (QA) testing as a service for its TLM Collateral Management solution. The new service enables collateral administration desks to stay current with changes in the market and regulations, whilst providing the best service to clients.
Many banks have stringent internal testing requirements for new functionality to ensure continuity, connectivity and integration. To reduce the amount of time and expertise devoted to this rigorous testing regime, whilst optimising the effort, cost and outcome, SmartStream is partnering with banks to provide QA testing as a service, delivered by its TLM Collateral Management platform.
SmartStream will
UBS AG (UBS) is to pay a USD15 million civil monetary penalty and to undertake remedial relief to settle CFTC charges of attempted manipulation and spoofing of the precious metals futures markets.
A CFTC order finds that that from January 2008 through at least December 2013, UBS, by and through the acts of certain precious metals traders on the spot desk (Traders), attempted to manipulate the price of precious metals futures contracts by utilising a variety of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange (COMEX), including gold and silver, and by trading in
JonesTrading Institutional Services (JonesTrading) has appointed Timothy (Tim) Baker as Senior Vice President in its Equity Sales Trading Group.
Baker will be responsible for trading and account coverage, with a particular focus on special purpose acquisition companies’ (SPAC’s) and other special trading situations.
Baker brings over 14 years of experience to the role. He was most recently Director at Cowen, which acquired his prior firm, CRT Sterne Agee, where he served as Managing Director, Partner, and Head of Trading. He is a graduate of Ohio Wesleyan University.
Baker will focus on all special situations including SPAC’s, Contingent Value
Pictet Asset Management (Pictet AM) has added a new strategy to its USD42 billion actively managed thematic franchise, the UCITS-compliant Pictet-SmartCity fund, which aims to capture the strong growth potential of companies finding smarter solutions to the challenges posed by rapidly increasing urbanisation.
Pictet-SmartCity is a global thematic equities strategy that aims to exploit the powerful trends driving urbanisation. Its objective is long-term capital growth by investing in companies around the world that are helping to develop the cities of tomorrow.
These companies will be active mainly, but not exclusively, in the following areas: mobility and transportation, infrastructure, real
