Latest News
FENICS Market Data, the Market Data division of BGC Partners (BGCP), is to exclusively provide China Credit BGC Money Broking Company Limited’s (CCT-BGC) Chinese market data products to global clients.
Through this agreement, FENICS Market Data is becoming the sole international commercial agent for CCT-BGC’s market leading onshore Chinese data, covering the Fixed Income, Interest Rate and Foreign Exchange markets.
CCT-BGC, established by China Credit Trust Co, (CCT) and BGC, is the first money-broking company granted by the China Banking Regulatory Commission (CBRC) in Beijing. It operates as an inter-dealer broking company, offering interest rate swaps, bonds, and interbank
MainstreamBPO, one of Australia’s largest independent fund administrators, has announced an after-tax profit of AUD1.4 million for the twelve months to 30 June 2017, an increase of 38 per cent over the prior corresponding period. Revenue was up 56 per cent to AUD29.3 million.
MainstreamBPO services to 192 fund managers and superannuation trustees.
During the reporting period, funds under administration rose 35 per cent during the year to AUD119 billion, from AUD88 billion as at 30 June 2016. Over the same period, the number of funds administered grew from 435 to 667 funds.
Chief Executive Officer Martin Smith
Trax, a provider of regulatory reporting, trade matching and capital market data services, has secured approval from UK Financial Conduct Authority as an Approved Publication Arrangement (APA) for transparency and reporting services under the MiFID II regime.
The Trax Transparency Solution, which includes the APA, is available through the Trax Insight platform, offering a comprehensive pre- and post-trade transparency solution including quote publication, Systematic Internaliser (SI) determination and instrument liquidity classification. Trax Insight features a customisable, web-based operational tool to actively manage and monitor the status of reporting activity through a single interface. Clients can quickly identify exceptions and data
For non-US fund managers wishing to tap into the US retirement marketplace, setting up a Collective Investment Trust (CIT) could be an attractive proposition, given the growth of defined contribution (DC) assets. Thanks to their ease of set-up, speed to market, and share class flexibility, CITs are enjoying a renaissance period.
As outlined in a recent white paper by SEI – The Defined Contribution Market Meets Its Match – DC assets have grown from USD4.3 billion just over a decade ago (2006) to USD7 trillion through the end of 2016. They account for 28 per cent of the USD25 trillion
JCRA Group, a provider of hedging, financial risk and debt consultancy services, including interest rate and foreign exchange advice, has secured the backing of private investor clients of Connection Capital, the specialist private client investment business, for its GBP13.6million management buy-out (MBO).
Connection Capital clients invested GBP6.7 million in the deal, which will support JCRA’s management team in executing its business development plans: driving growth by maximising synergies within its business, continued geographic expansion across their existing areas of operation, and implementing technological enhancements to drive efficiency.
Founded in 1989, the company is now the market leader in its
Recently released data on hedge fund flows confirm that investors are currently divesting from CTAs. As usual, outflows tend to track recent underperformance with a lag, which can be substantial at times. Between late August 2016 and late August 2017, CTAs experienced a 10 per cent drawdown according to the Lyxor CTA Broad Index.
Other measures of CTA performance paint a similar picture. Underperformance over the recent quarters has been caused by frequent trend reversals in the FX, commodity and fixed income spaces.
Jean-Baptiste Berthon (pictured), of Lyxor writes: “Investors have nonetheless started to divest near the trough, which
The EEX Group has migrated its existing EMIR Trade Reporting Service to the platform for transaction data reporting according to REMIT in the framework of its regulatory reporting services.
As a result, it now offers a uniform interface for reporting services according to EMIR (European Market Infrastructure Regulation) and REMIT (Regulation on Wholesale Energy Market Integrity and Transparency).
On 7 October 2015, EEX Group introduced the option for its trading participants to delegate their reporting requirements under art. 8 REMIT to the exchange. This includes all power and natural gas market transactions concluded through the EEX, EPEX SPOT and
Abide Financial, the company behind NEX Regulatory Reporting, has received approval from the Financial Conduct Authority (FCA) as an Approved Publication Arrangement (APA), with effect from 3 January 2018. The authorisation will allow NEX Regulatory Reporting to provide enhanced MiFID II services.
The decision to apply for APA status was driven by client demand, with most of the business’ new and existing clients already in testing to ensure they are prepared to go live in January. NEX Regulatory Reporting has been providing MiFID I reporting services to banks, brokerage houses, hedge funds and asset managers since 2011 and is at
Bloomberg Data Reporting Services Limited (BDRSL) has secured authorisation, effective 3 January 2018, from the UK Financial Conduct Authority (FCA) for its Approved Publication Arrangement (APA).
Under MiFID II, investment firms trading OTC, including systematic internalisers, are required to make public through an APA certain transaction information. As a component of Bloomberg’s pre-integrated MiFID II solution, Bloomberg’s APA will allow the seamless publication of required trade details when MiFID II goes into force.
“APA authorisation is a critical component of our regulatory reporting service that not only enables our clients to meet trade transparency reporting requirements, but also transaction
Preqin’s latest survey of hedge fund managers finds that they are adopting a bearish attitude in the second half of 2017, despite indications that fundraising and performance environments may be improving.
Net inflows to hedge funds totalled USD25 billion in H1 2017, following five consecutive quarters of outflows. At the same time, the industry recorded its highest H1 performance since 2009, and two-thirds of fund managers met or exceeded their returns objectives over the preceding 12 months. However, fund managers do not feel optimistic about the months ahead: 69 per cent predict that net asset flows will be flat or
