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The Commodity Futures Trading Commission (CFTC) has issued a proposal to streamline regulations for swap dealers by simplifying overly complex notification provisions and reducing certain intricate and prescriptive requirements that have been found to provide little or no benefit.
In the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congress mandated that a swap dealer notify each counterparty that the counterparty has the right to choose whether to require their funds to be kept in a segregated account with an independent third party, separate from the assets and other interests of the swap dealer. The CFTC regulations 23.700 through 23.704
Fintech Velocimetrics, a provider of business flow tracking and performance analytics, has made two key hires in New York, as the company looks to add more US and Canadian clients to its roster of investment banks, international hedge funds and exchanges.
John Benini brings a wealth of technical experience to the team. At Velocimetrics, he will be responsible for solution implementation and client support for US customers. John, who is a server and network infrastructure specialist with over ten years’ experience, joins from Majestyk Apps where he held the position of CTO. He started his career as a trading systems
Apex Group (Apex), one of the world’s largest fund administrators, has appointed Joseph Holman as Global Head of Allocators for the Group.
Holman will manage relationships with institutional-sized investors and allocators worldwide and brings with him more than 25 years of industry experience in building and integrating businesses in the fund management space.
As Global Head of Allocators, Holman will report to the Group’s recently appointed Chief Revenue Officer, Fred Jacobs, and will be based alongside him in the New York office.
Prior to joining the Apex team, Holman held a variety of senior positions throughout the fund
OANDA’s Exchange Rates API now offers forward rates to corporate clients around the world.
In addition to OANDA’s existing daily averages, real-time (spot) rates, central bank exchange rates and tick-level data that already helps help treasury, risk management and finance departments mitigate currency exposure and optimise efficiencies, OANDA’s forward rates data will be of value to organisations that are looking to monitor the mark-to-market value of forward contracts.
This new data set aims to provide corporate treasurers and finance directors with an accurate, trustworthy view of the forwards market, offering over 360 forward rate currency pairs – more than
Volumes on FXSpotStream grew at the fastest rate of all reporting eFX cash venues during the first half of 2018.
Alan F Schwarz, CEO of FXSpotStream, says: “Our Average Daily Volume (ADV) was up 49 per cent in the first six months of 2018 versus the same period in 2017. During the first half of 2018 we supported a total of USD3.56 trillion reflecting an increase in overall volume of USD1.15 trillion when compared to the first half of 2017.
“In June we also crossed the USD30 billion ADV mark for the first time hitting an ADV high of
The top four hedge fund investment strategies for the second quarter of 2018 were Equity Hedge, Macro, Blockchain/Crypto, and Event-Driven, according to a new survey carried out by the Hedge Fund Association in conjunction with UMB Fund Services.
The Top Hedge Fund Strategies survey, which polled the views of institutional and family office investors, alternative investment managers and industry executives, also reveals that the most impactful sources of differentiation are uncorrelated strategies, firm reputation/pedigree, management team experience, performance, and fees.
In addition, the top four hurdles to new fund development are capital raising, regulatory/tax implications, fund structure/terms and costs,
A new single structure for conducting both the fund and insurance element of insurance-linked securities (ILS) business is being devised in Guernsey.
Expert insurance lawyer Mark Helyar is leading the way with the development of “true convergence” in the ILS space where “capital markets and insurance markets meet”.
“My job is to put together structures to help them to invest in each other,” he said while speaking at the ILS Insight event organised by Guernsey Finance in Zurich. “The collateralised re market has become so big in recent years. With Cat bonds you’ve got risk looking for capital, and with
Itiviti, a global provider of multi-asset trading technology and financial infrastructure, today announced that India-based brokerage firm Edelweiss Securities Limited (ESL) has deployed Itiviti’s client connectivity and trading solution to support its algorithmic trading business.
ESL made the decision to replace its existing system with Itiviti’s modular solution to better capitalise on trading opportunities in India’s dynamic, fast-growing markets.
By leveraging the Itiviti OMS and connectivity solutions, ESL says its trading desk can now efficiently execute trades and manage order flows on all Indian exchanges. Itiviti’s technology, integrated with ESL’s existing applications and infrastructure, provides a highly scalable trading
Harry Moumdjian has been appointed Global Head of FX Sales, BNY Mellon Markets.
In this newly-created role, Moumdjian will focus on unifying BNY Mellon Markets’ FX sales teams globally under one leader and review the company’s currency product suite as it continues to build out a full-service FX platform aimed at enhancing the client experience.
Moumdjian joins BNY Mellon from Morgan Stanley, where he ran the firm’s DeltaFX and e-FX sales functions. Prior to this, Moumdjian worked at Goldman Sachs, Bank of America and Citibank in a variety of FX sales and trading roles.
He is based in
The US insurance industry continued to reduce its risk appetite for hedge fund investments, as holdings declined year over year by 8.5 per cent to USD16.4 billion from USD17.9 billion in 2016, according to a new AM Best report.
The Best’s Special Report, titled, ‘Insurers and Hedge Funds – The Pullback Continues’, notes that it was the second straight year that insurers pulled back from its hedge fund investments. In particular, the life/annuity sector halved its hedge fund holdings in the two-year period, to USD7.0 billion in 2017 from USD14.2 billion in 2015.
In first-quarter 2018, overall hedge fund
