Latest News
The European Energy Exchange (EEX) has published the calendar for the auctioning of EU aviation emission allowances (EUAA) for 2018 in coordination with the European Commission and the participating member states as well as with the competent German and Polish authorities.
In its capacity as the common auction platform appointed by 25 Member States, EEX will conduct four auctions of EU aviation allowances (EUAA) in 2018: 23 May, 958,000 EUAAs; 18 July, 958,000 EUAAs; 12 September, 958,000 EUAAs; 21 November, 955,000 EUAAs.
In its capacity as the auction platform appointed by the Federal Republic of Germany, EEX will conduct
Hedge funds snapped a two-month performance decline in April, led by fixed income-based Relative Value Arbitrage and Equity Hedge strategies.
The broad-based HFRI and many sub-indices extended YTD gains over equity market index declines, according to data released today by HFR, the established global industry leader in the indexation, analysis and research of the global hedge fund industry.
The HFRI Fund Weighted Composite Index advanced +0.38 per cent for the month, bringing YTD performance to +0.39 per cent through April and topping the YTD declines of the S&P 500, DJIA, DAX, FTSE and MSCI World indices.
Driven
Hedge funds indices were overall positive during the past week but most strategies contributed negatively, according to the latest Weekly Brief from Lyxor’s Cross Asset Research team.
Lyxor writes: “CTAs, which are short USD and long energy retracted, while Diversified and Neutral L/S Equity funds destroyed some alpha this week, reflecting counter-intuitive sector rotations.
“By contrast, the sudden reversal in many M&A deal spreads contributed to boost Merger funds. The average deal spread of our basket of 75 tradable merger deals reverted back to 7 per cent from 10 per cent a week ago.”
Average daily transaction value on the Euronext cash order book stood at EUR7,876 million in April, down 8.8 per cent compared to April 2017 and down 11.2 per cent from the previous month.
For the first four months of 2018, the average daily transaction value on the Euronext cash order book stood at EUR8,512 million, up 14.2 per cent compared to the same period last year.
From January 2018, volumes on ETFs are only measured on order book activity due to low revenue-impact of off-book activity. Based on the previous presentation, activity is EUR358 million, down 34.7 per cent compared to
Pascale Auclair is to be appointed Corporate Secretary of La Française Group, subject to the approval of the company’s Supervisory Board in June.
Auclair will become the third member of the Board of Directors alongside Xavier Lépine (Chairman) and Patrick Rivière (Managing Director). Taking over from Pierre Lasserre, Auclair will oversee Internal Control and Compliance, Operational Risks and Data Protection, Legal Affairs and Group Risk Control.
Xavier Lépine, Chairman of La Française Group, says: “We are delighted that Pascale has agreed to this new role and we are certain that her experience in our business lines and her interpersonal
Calls from Guernsey for greater mutual recognition of financial regulatory standards have been endorsed in a new report from an independent think tank.
The Institute of Economic Affairs has made the recommendation as part of a report on improving global financial services regulation and fostering economic growth and innovation after the UK leaves the European Union.
The IEA has also called for the reinstatement of Section 270 of the Financial Services and Markets Act 2000, which offered a marketing route into the UK for non-UCITS funds that was well-used by Guernsey funds before the introduction of the EU’s Alternative
CQG has connected to the Dalian Commodity Exchange (DCE) to offer global clients access to iron ore futures.
The move marks the second Chinese market available on CQG, as the firm continues to expand business in China with offices, local staff, infrastructure, and exchange coverage.
China is opening markets with new approved mechanisms for foreign participation in products such as INE crude and DCE iron ore futures. CQG is leading the way among foreign vendors to support coverage and developing important relationships in the region with Chinese futures commission merchants (FCMs) and investors.
In mid-March, CQG announced that
Eze Software, a provider of global investment technology, has released the newest version of its enterprise-wide investment management solution, Eze Investment Suite 2018.
This latest release is the culmination of Eze Software’s five-year project to unite processes such as Order, Execution, and Portfolio Management, Accounting, Commission Management, and Compliance on a single platform. Eze Investment Suite comprises Eze OMS, Eze EMS, Eze Portfolio Management, and Eze Investor Accounting, allowing firms to manage their entire operation via a single solution. The multi-asset platform is designed to minimise total cost of ownership by scaling to fit the needs of firms across sizes, geographies,
PEGAS, the pan-European gas trading platform operated by Powernext, registered a total volume of 147.7 TWh in March 2018, including 1.3 TWh on its options segment.
The spot and futures markets reported a total of 146.4 TWh which represents a year-to-year growth of 19 per cent (March 2017: 123.4 TWh), thanks mainly to an increase on PEGAS TTF Spot and Futures and a record-breaking month on PEGAS CEGH VTP Futures.
Spot trading volumes in April amounted to 77.6 TWh, up 22 per cent over the previous year (63.4 TWh). The Dutch market area TTF registered 29.9 TWh, a growth
Following a decision by the UK’s House of Commons to force the Overseas Territories to adopt public registers of beneficial ownership of companies, the Premier of the British Virgin Islands has responded swiftly to reassure the financial sector and those who use its services around the world.
The Sanctions and Anti-Money Laundering Bill now requires the UK’s Secretary of State to prepare a draft Order in Council by 31 December 2020 in the event that Overseas Territories, including the BVI, have not adopted public registers.
The Premier Dr D Orlando Smith OBE, says: “As a constitutional democracy, the BVI believes in
