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In September 2018, the European Energy Exchange (EEX) increased volumes on its power derivatives markets by 42 per cent to 377.1 TWh (September 2017: 265.8 TWh) and, as a result, reached the highest monthly volume since November 2016.
In particular, record volumes in Phelix-DE Futures (232.8 TWh) and Phelix-AT Futures (0.5 TWh) as well as in Futures for the Italy (62.1 TWh) and Spain (12.2 TWh) contributed to this development. Furthermore, volumes in power options increased by 60 per cent to 12.2 TWh (September 2017: 7.7 TWh).
The September volume comprised 204.6 TWh traded at EEX via Trade Registration
Commodity Futures Trading Commission (CFTC) Chairman J Christopher Giancarlo has released a white paper titled ‘Cross-Border Swaps Regulation Version 2.0: A Risk-Based Approach with Deference to Comparable Non-US Regulation.’
Based on the principles set forth in this white paper, Giancarlo (pictured), intends to direct the CFTC staff to put forth new rule proposals to address a range of cross-border issues in swaps reform.
“I have been a constant supporter of the swaps market reforms passed by the US Congress in Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the commitments made by
September was a tough month overall for hedge funds, with several strategies down according to benchmark liquid indices. L/S Equity and Macro/CTA strategies underperformed with sector rotations having a negative impact on the former, and higher bond yields and the US Dollar reversal impacting the latter.
According to the latest Weekly Brief from Lyxor’s Cross Asset Research team though, there were some very bright spots.
Lyxor writes: “Fixed Income Arbitrage managed to protect bond portfolios against the rise in bond yields which took place in the largest economies over the recent weeks. Meanwhile, Merger Arbitrage was fuelled last week
Fund services provider Moore Management has appointed Matthew Satchell as Funds Director.
Satchell’s appointment, which is effective immediately, constitutes a continued strengthening of the group’s senior funds team in Jersey following Moore’s recent acquisition by Luxembourg-headquartered investor services firm SGG Group.
Before joining Moore, Satchell (pictured), had spent over ten years successfully developing his career with a top tier offshore law firm, where he gained extensive experience advising on the full spectrum of collective investment funds, from unregulated vehicles and joint venture arrangements to non-domiciled and regulated funds.
In addition to completing a secondment to an international private
Jersey-based corporate, private client and fund service provider Hawksford has launched a London office following the acquisition of the corporate services business of audit and accountancy specialist S H Landes.
The new London office will service the growing relationship between European and Asian markets and demonstrates Hawksford’s confidence in the City as a global centre for international finance, attracting clients seeking outsourced solutions and asset protection for corporate and private clients.
Hawksford group chief executive Michel van Leeuwen says: “This significant acquisition gives us a strong presence in one of the world’s leading international finance centres. It demonstrates Hawksford’s
The Maples Group has expanded its global offering, with the addition of Luxembourg legal services.
From 1 October 2018, the firm’s newly established Luxembourg office will offer advice on fund formation, finance, corporate, tax and associated regulatory work.
The addition of this fifth jurisdiction to Maples and Calder’s offering is highly complementary to its existing British Virgin Islands, Cayman Islands, Irish and Jersey capabilities, particularly for clients using Luxembourg along with the firm’s services in these other jurisdictions.
MaplesFS, the Maples group’s independent global provider of specialised fiduciary, fund administration, entity formation and management, insurance management and trust
Offshore law firm Carey Olsen has appointed corporate and finance lawyer Richard Munden as a partner in its Cayman Islands office.
Munden advises on a wide range of corporate and finance transactions with particular expertise in aviation finance and other asset finance matters including asset-backed securitisations. He also specialises in financing for hedge funds and private equity funds, debt capital market transactions, equity issues and joint venture and shareholder arrangements across a wide range of industries.
He joins Carey Olsen after 10 years at another offshore law firm in the Cayman Islands where he was responsible for leading and
Picton Mahoney Asset Management (Picton Mahoney) has added three Fortified Alternative Funds to its existing Fortified Fund family. providing Canadian retail investors with additional access to the sophisticated hedging techniques and alternative investing strategies that Picton Mahoney has been offering since 2004.
“Today is an extremely exciting day for Picton Mahoney. We think the timing is excellent to be able to provide Canadian retail investors with more tools to better position their portfolios against the emerging headwinds of tomorrow’s markets,” says David Picton, President and Chief Executive Officer, Picton Mahoney. “We are pleased to expand our family of Fortified Funds
Northern Trust (Nasdaq: NTRS) has launched an outsourced trading capability designed to help asset owners and asset managers achieve better overall trading and performance outcomes.
The capability – Integrated Trading Solutions (ITS) – combines Northern Trust’s proven trading experience in equities and fixed income with comprehensive access to global markets, trading venues and liquidity. ITS enables seamless integration using advanced technology across trade execution, middle office, matching and settlement. The potential benefits to our clients may be reduced costs and reduced risks, while enabling the achievement of Best Execution* obligations.
“Institutional investors are at a tipping point, faced with unprecedented
James Williams, managing editor at Hedgeweek, assesses how data analytics techniques can be used to personalise client experiences for investment managers.
The amount of data is growing exponentially. According to IDC, there were 16.3 zettabytes of information generated in 2017 alone; one zettabyte is 1 billion terabytes. However you cut it, that’s a huge number. One that is too large to comprehend. In simplistic terms, according to one industry professional “if every piece of data were a penny, it would cover the earth’s surface five times over”. Indeed, with Amazon and Apple both hitting the trillion dollar market cap mark,
