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The Depository Trust & Clearing Corporation (DTCC) has begun efforts to enhance its European Global Trade Repository (GTR) in support of the upcoming Securities Financing Transactions Regulation (SFTR) expected to be implemented in 2019.
SFTR will require firms subject to EU regulations to report securities financing transactions including repurchase agreements, securities lending and margin lending trades to an authorised Trade Repository.
Andrew Douglas, CEO of the European Global Trade Repository and Managing Director of Government Relations for EMEA/Asia at DTCC, says: “We have a strong understanding of the proposed new rules and look forward to extending our capabilities to
OppenheimerFunds has opened its new headquarters for Europe, the Middle East and Africa (EMEA) in London. The office will allow OppenheimerFunds to expand the distribution of its investment strategies, including its growing number of UCITS offerings, across the region.
“Building out our office in London, a global financial centre, is a critical component of our international strategy. Having a local presence enhances our capabilities to reach our growing EMEA client base and provides access to our flagship strategies.” says Art Steinmetz (pictured), Chairman and CEO of OppenheimerFunds.
Doug Stewart, Head of EMEA, leads OppenheimerFunds’ London-based operations. To further build out the firm’s capabilities across these markets, Stewart recently hired Dicken Watson as Chief Operating
Cryptocurrencies appear to be taking the world by storm, but many alternative investment managers are unconvinced. A survey conducted by BarclayHedge finds that more than two-thirds of hedge fund managers have no intention of investing in cryptocurrencies.
The survey of 119 hedge fund managers and CTAs was conducted between 11 September and 29 September, 2017. Managers were asked if they currently invest in or plan to invest in cryptocurrencies. Sixty-eight percent answered “No,” while 24 per cent responded that they either currently invest or plan to invest within the next six months. A further 8 per cent replied, “We’re studying
Merrill Lynch International (MLI) has been fined GBP34,524,000 by the Financial Conduct Authority (FCA) for failing to report 68.5 million exchange traded derivative transactions between 12 February 2014 and 6 February 2016.
This is the first enforcement action against a firm for failing to report details of trading in exchange traded derivatives, under the European Markets Infrastructure Regulation (EMIR), and reflects the importance the FCA puts on this type of reporting.
Reporting exchange traded derivative transactions helps authorities assess and address the risk inherent in financial systems caused by a lack of transparency. The reporting requirement was one of the
Writing on behalf of the Guernsey Investment Fund Association, Nick Vermeulen, PwC’s CI head of advisory, takes a look at the evolution of blockchain and touches on how Guernsey’s financial services industry is once again remaining nimble and relevant with the introduction of this new technology in the fund marketplace.
Bitcoin was released in 2009 as a digital currency system via a simple posting to a niche mailing list. As the charts demonstrate, over time interest has grown not only in the digital currency, but also in the underlying blockchain and distributed ledger technology. This interest has morphed
The European Energy Exchange (EEX) and China Beijing Environment Exchange (CBEEX) have signed a Memorandum of Understanding (MoU) to form a strategic partnership for the joint development of the Chinese carbon market.
The MoU is concluded against the background of the Chinese national emission trading system (ETS), which is expected to be launched still in 2017 and set to become the largest carbon market worldwide in terms of covered emissions.
Within the scope of the MoU, EEX and CBEEX will evaluate how access to the Chinese ETS for international companies can be facilitated and vice versa and how all
By Alan Chu, Meyler Capital – The fund manager next door launches a brand new, state-of-the-art website. The manager in the upstairs office announces that he’s a keynote speaker at three industry-renowned conferences next quarter. Your friend from college starts a fund, and begins by releasing a video with all kinds of bells and whistles; you’re positive that it didn’t come cheap.
It’s hard to grasp why on earth these people are doing this.
“Why are they spending so much on promoting themselves??”
Perhaps they’ve hired a young gun who’s pitched them on modernising the firm. Or, they’ve given up
By Matt Mulry (pictured), Dillon Eustace – We often hear the Cayman Islands are criticised in the press or in political debate over perceived financial secrecy. A flagging election campaign in the US or Europe can easily benefit from the rejuvenating spark provided by an airing of the offshore holdings of the candidates and their families.
The slow release of private financial records from the Cook Islands or Panama can make headline news for weeks. The results of disclosing private financial information can be so potent that the effects on the economies of these small jurisdictions is largely ignored and
Despite redemptions of USD2.5 billion from hedge funds in September, Q3 ended with USD12.5 billion of inflows and the industry sitting at an all-time peak AUM, according to the latest Hedge Fund Industry Asset Flow Report from eVestment.
The proportion of funds losing assets in September was the highest of the year, and highest since December 2016. However, the proportion of managers who lost greater than 2 per cent, or greater than 5 per cent of their total AUM due to outflows was nowhere near the level seen in December. The proportion of all funds that lost greater than 2
Apex Group’s Apex Fund Services is to acquire Deutsche Bank’s Alternative Fund Services (AFS) business, a deal that will add USD170 billion in AUA and make Apex the eighth largest fund administrator in the world, and the largest independent administrator.
The deal reveals the rapid expansion of Apex since the company was recapitalised by Genstar Capital and simultaneously acquired Equinoxe Alternative Investment Services. The purchase of the AFS business is the most recent significant step in Apex’s movement towards its stated goal of being a top five global fund services business.
Apex’s global reach and connected operating model opens
