Latest News
Cargill is to pay a USD10 million penalty to settle CFTC charges that it provided mid-market marks (marks) that concealed its full mark-up on certain swaps from counterparties and its swap data repository (SDR), in violation of the Commodity Exchange Act (CEA) and CFTC regulations.
Specifically, the CFTC Order found that Cargill provided counterparties and the SDR inaccurate marks which had the effect of concealing up to ninety percent of Cargill’s mark-up. Cargill also failed to diligently supervise its employees in connection with these inaccurate marks, and in connection with inaccurate statements made to swap counterparties. In particular, the CFTC
Aspect Capital (Aspect), a USD7.0 billion systematic investment manager, has launched the Aspect Alternative Markets Fund, a managed futures trend following strategy which invests in a range of non-traditional, and harder to access markets.
From credit indices and emerging markets currency forwards to European electricity futures, the Cayman-domiciled Fund provides investors with a new diversified and diversifying source of returns which is expected to be uncorrelated to traditional asset classes, and also have a reduced correlation to traditional systematic trend following strategies operating in major liquid futures markets.
The Aspect Alternative Markets Fund, which began trading proprietary capital late
NEX Optimisation, which helps clients reduce complexity and optimise resources across the transaction lifecycle, has provided central clearing connectivity for its FX risk mitigation service in non-deliverable forwards.
The clearing connectivity capability enables dealers to flag trades that are part of a risk mitigation cycle for automatic submission to a central counterparty clearing house (CCP).
Clients of the Reset FX risk mitigation service can now benefit from direct connectivity to CCPs allowing trades matched between two counterparties to be submitted directly for clearing rather than having to be re-submitted for secondary matching prior to communication to a CCP.
BlueBay Asset Management (BlueBay), a specialist active manager of fixed income, has launched the BlueBay Global Income Fund in response to client demand.
The UCITS Fund seeks to provide an attractive income stream via a low turnover portfolio of bonds. The primary focus is on securities with an attractive relationship between yield and credit risk.
Run by Blair Reid, Mark Dowding (pictured), and Raphael Robelin, the Fund targets a consistent level of credit risk and invests in bonds from across sovereigns and corporates, developed and emerging markets.
Responding to client appetite for the Fund, BlueBay believes the Fund
Total volume traded on Cboe Futures Exchange (CFE) year to date in 2017 has exceeded the total volume of all contracts traded on CFE in 2016.
Total volume traded on CFE in all of 2016 was 60.2 million contracts, total volume traded on CFE through October 2017 is 61.9 million contracts.
Cboe Global Markets Average Revenue Per Contract/Net Revenue Capture is to be updated this week. The company plans to report its average revenue per contract and net revenue capture data for the three months ended 30 September, 2017, in its quarterly earnings news release, which is expected to
Billionaire Mario Gabelli (pictured), the founder of the Gabelli Asset Management Company Investors (GAMCO Investors), is backing New York-based hedge fund management firm Gondor Capital Management by investing in its domestic hedge fund Gondor Partners LP.
Gabelli’s assistant Betsy Dunn said that Mario has confidence with Vincent Au’s understanding of the markets and generating above-average profits.
Dunn says: “He (Mario Gabelli) invested in Gondor Capital because he thought Vincent had passion and commitment and a good nose for stocks.”
Vincent Au, the Portfolio Manager Gondor Capital says that GAMCO’s unit, the Gabelli Education Foundation, has invested in his
Saigon Securities Inc (SSI) has chosen Horizon Software for warrants and futures market making on the HNX (Hanoi Stock Exchange) and HOSE (Ho Chi Minh Stock Exchange).
Ekaluck Chaiyaporn (pictured), ASEAN Sales Director at Horizon, says: “The selection process with SSI was rigid, and we are very pleased to have been chosen by them; we can definitely see the potential for growth for both our businesses as a result of this deal. Working with SSI adds to our track-record of working with and understanding emerging markets and the technology needed to support their development. We have demonstrated time and time
Manifold Partners is to become the first firm to offer its equity strategies to investors through Kettera Strategies’ Hydra, a managed account marketplace for macro, commodities and liquid equity hedge fund strategies.
Manifold Partners is an investment firm specialising in scientific forecasting of securities prices and having nearly USD1 billion in assets under management and/or supervision. Wall Street veterans, Donald H Putnam and James A Creighton continue to develop cutting edge systems at Manifold Partners by using machine learning and Artificial Intelligence to develop and combine securities price expectations.
“We are excited to be breaking new ground with the
PEGAS, the pan-European gas trading platform operated by Powernext, achieved one of its strongest results in October 2017 with a total volume of 187.3 TWh, up 43 per cent compared to the previous year (October 2016: 131.2 TWh).
A monthly volume record was registered on PEGAS TTF Spot with 23.3 TWh (previous record: 19.5 TWh in January 2017).
Spot trading volume in October reached 75.7 TWh, an increase of 45 per cent on the previous year (52.1 TWh). It represents the second best total figure registered on PEGAS Spot market. As mentioned, the Dutch market area TTF saw a
A total of 11 new liquid alternative funds were launched in Q3 2017, including four equity hedge funds and one multi-strategy fund, according to Wilshire Funds Management’s Q3 2017 Liquid Alternatives Industry Monitor.
Additionally, there were 13 liquidations.
There was a USD10 billion increase in the AUM of the Liquid Alternatives Universe during the quarter, while net inflows were approximately USD3.4 billion.
For the second quarter in a row, Multi-Strategy funds experienced net inflows of USD0.92 billion, which was a reversal of five straight quarters of outflows prior to that.
The Global Macro space meanwhile, posted slight
