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The European Securities and Markets Authority (ESMA) has finalised and issued a draft regulatory technical standard (RTS) for the central clearing of Credit Default Swaps (CDS).
ESMA is required to develop RTS which implement the European Market Infrastructure Regulation (EMIR). The draft RTS defines the types of CDS contracts which will have to be centrally cleared, the types of counterparties covered by the obligation and the dates by which central clearing of CDS will become mandatory.
This submission follows the first RTS on Interest Rate Derivatives developed by ESMA and adopted by the European Commission on 6 August 2015.
- 05/10/2015
Weeden Prime Services, a prime brokerage services provider for hedge funds, has expanded its team with the appointment of Will Greco as head of capital introductions.
This comes amid a period of strong growth for Weeden Prime as it has been a strong beneficiary of the recent tumult in the brokerage industry caused by JP Morgan’s decision to exit the correspondent clearing business.
Weeden Prime has enjoyed a period of strong growth in their business and the addition of Greco will enhance the already compelling offering Weeden Prime provides to its customers. Greco brings with him over 15 years
- 05/10/2015
All six of Market Vectors Index Solutions’ (MVIS) investable Long/Short Equity Indices produced negative returns in September. Each index is constructed using transparent, liquid ETFs and US Treasury securities to produce hedge fund-style returns without hedge fund pricing, opaqueness and redemption restrictions.
The Market Vectors Western Europe Long/Short Equity Index was the month’s biggest loser with a return of -2.15 per cent, followed by the Market Vectors Global Long/Short Equity Index (-2.08 per cent), the Market Vectors Emerging Markets Long/Short Equity Index (-1.59 per cent), the Market Vectors Asia (Developed) Long/Short Equity Index (-1.57 per cent), the Market Vectors Global
- 05/10/2015
The London Metal Exchange (LME) is taking steps to boost liquidity on its traded options market, increasing the transparency of data reporting and providing greater protection for participants placing large options orders on the Exchange.
The LME plans to enrich published data for matched traded options to provide greater granularity, and the Exchange’s detailed reports on options will be expanded to include the expiry date, premium and type of option. The LME will also increase the number of times its matched trades report is released throughout the day to allow more comprehensive analysis of daily volumes.
“The LME is
- 05/10/2015
Peter Cameron (pictured), Associate Fund Manager, EdenTree Investment Management, on why the Fed won’t hike interest rates…
The data out of the US so far this month indicates the US economy is not immune to what’s been happening to the rest of the world.
Yesterday’s ISM Manufacturing index missed expectations and fell sharply from the previous month; indeed the reading of 50.2 is barely in expansionary territory. And today we’ve had weak non-farm payrolls and flat-lining wage growth. In this environment, and with ongoing concerns around China’s slowdown, it’s hard to see any reason why the Fed would consider hiking
- 05/10/2015
- 05/10/2015
Markit, a provider of financial information services, has completed its acquisition of CoreOne Technologies, a provider of regulatory reporting, index management, data management and prime brokerage services to financial institutions.
The acquisition strengthens Markit’s Information and Solutions businesses with CoreOne’s capabilities in regulatory reporting, index and ETF services, and data management services. In addition, it extends Markit’s capabilities into prime brokerage.
CoreOne has more than 500 customers including global banks, asset managers, wealth managers, sovereign wealth funds, investor services firms, custodians and exchanges. The company is supported by a team of 200, with headquarters in New York and additional
- 02/10/2015
- 02/10/2015
Average daily volume (ADV) at the CBO Futures Exchange was up 40 per cent from September 2014, but down 18 per cent from August 2015, when CFE recorded its second-busiest month of all time.
Total volume in futures on the CBOE Volatility Index (VIX Index) for September was 5.3 million contracts, up 41 per cent from September 2014, but a decrease of 17 per cent from August 2015. September VIX futures’ ADV was 251,207 contracts.
Exchange-wide ADV at CFE was 251,376 contracts in September, an increase of 40 per cent from September 2014 and down 18 per cent from
- 02/10/2015
- 02/10/2015
Calamos Investments has strengthened its position in the global alternatives space with the acquisition of San Francisco-based global long/short manager Phineus Partners.
Founded in 2002 by Michael Grant, Phineus is a fundamentally-driven investment firm that, like Calamos, employs a blend of bottom-up and top-down considerations and has built customised portfolios for private investors, families, endowments and institutions.
"Following a rigorous due diligence process, we are impressed with the investment capabilities that Michael and his team have built," says John P Calamos, Sr (pictured), CEO and Global Co-Chief Investment Officer. "Michael and his team will be a great addition to
- 02/10/2015
Chicago-based alternative investment manager Aurora Investment Management has provided early stage capital to investment funds managed by healthcare-focused long/short equity fund manager Copernicus Capital Management.
Copernicus Capital Management was founded by John Rende (pictured) in early 2013. Prior to Copernicus, he was the Senior Portfolio Manager responsible for the long/short healthcare portfolio at Weintraub Capital Management, LLC, a multi-strategy hedge fund based in San Francisco. Previous to Weintraub, Rende worked for Wells Fargo as a credit and fixed income analyst and as a Portfolio Manager in its Asset Management Group. Rende began his career in healthcare at American Bionetics, a
- 02/10/2015
NexPoint Credit Strategies Fund is to execute a 1-for-4 reverse stock split of the fund's issued and outstanding shares to take effect on 6 October, 2015.
As a result of the reverse stock split, every four outstanding Fund shares will be converted into one share, thereby reducing by a factor of four the number of shares outstanding. Each stockholder will hold the same percentage of the Fund's outstanding common stock immediately following the reverse stock split as such stockholder held immediately prior to the reverse stock split, subject to adjustments for fractional shares resulting from the reverse stock split. Stockholders will be
- 02/10/2015
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