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The CFTC has settled charges against Bitcoin options platform operator Coinflip and its chief executive officer Francisco Riordan for conducting commodity options transactions without complying with the Commodity Exchange Act and CFTC Regulations.
Specifically, the charges relate to operating a facility for the trading or processing of commodity options without complying with the CEA or CFTC Regulations otherwise applicable to swaps or conducting the activity pursuant to the CFTC’s exemption for trade options. Coinflip is based in San Francisco, California, and Riordan resides in San Francisco.
The Order finds that, from in or about March 2014 to at least August
- 18/09/2015
In an extract from the recently released Preqin Investor Outlook: Alternative Assets H2 2015, Preqin explores institutional investors’ plans for their infrastructure portfolios, including investment in alternative structures, and looks at the alignment of interests between investors and fund managers.
The infrastructure fund market is relatively smaller than those of other alternative asset classes; just over a third of institutional investors allocate part of their assets under management (AUM) to infrastructure, while over half invest in private equity, hedge funds and real estate. While there are some very experienced investors that have been active for some time, there are
- 18/09/2015
Indian venture capital fundraising, deals and exits all hit record levels in 2014 and Preqin’s latest statistics show that 2015 is well on track to exceed the amounts seen last year. The steep upward curve in activity is an indication of the country’s rapidly developing venture capital industry and thriving start-up environment.
Read the full factsheet here, containing charts, league tables and analysis of the venture capital industry in India.
- 18/09/2015
- 18/09/2015
Eurex Exchange is to offer a new interest rate future based on the long-term bonds issued by the Spanish government, starting 26 October 2015.
The new Euro-Bono-Futures contract represents an important addition to the existing range of efficient and cost-effective hedging instruments on the European government bond market, complementing Eurex’s already listed long-term interest rate derivatives products such as Bund-, BTP- and OAT-Futures.
“With the introduction of this contract, we are responding to the significant interest from our participants in more customised hedging solutions and in new spread trading opportunities,” says Eurex Executive Board member, Mehtap Dinc.
Eurex
- 18/09/2015
The UK’s only independent depositary firm, INDOS Financial, has reached USD5 billion in assets under depositary in its first 15 months of existence.
Bill Prew, pictured, chief executive officer of INDOS Financial says that business is coming, not just from its traditional hedge fund audience but also from the private equity and real estate sector, with three more funds about to come on board.
October will see the arrival of a dedicated and experienced manager for those sectors. “There is a growing acknowledgement of the benefits of an independent depositary in the private equity and real estate space” Prew
- 18/09/2015
The International Swaps and Derivatives Association (ISDA) has launched a new industry data project, aimed at developing an open-source standard derivatives product identification system that can be applied across all derivatives facilities.
That would include trading venues, clearing houses, repositories and other infrastructures.
ISDA is overseeing the symbology project, which involves a consortium of buy- and sell-side market participants, vendors, platforms and trade associations. London-based capital markets technology consultancy Etrading Software is acting as project manager
The initiative comes in response to a variety of regulatory changes, including the European Union’s revised Markets in Financial Instruments Directive/Regulation (MIFID
- 18/09/2015
Global Prime Partners, a provider of prime brokerage, execution and clearing services to all classes of professional investors, has received regulatory approval from the Securities & Futures Commission of Hong Kong.
Following its approval, Global Prime Partners will now begin trading from its new Hong Kong office, which will provide execution and prime brokerage services to Asian based fund managers, family offices and professional traders.
The Hong Kong office, headed by Alastair Sclater, formerly of Newedge and UBS, is already experiencing strong demand for its high touch services.
The growth in revenue at Global Prime Partners of over
- 17/09/2015
- 17/09/2015
Independent fund and corporate services provider Crestbridge is to expand into the Cayman Islands in response to continued growth and client demand.
Subject to regulatory approvals from the Cayman Islands Monetary Authority, Crestbridge plans to offer a range of governance services to the international funds community with the office, scheduled to open before the year’s end.
The new Crestbridge operation will be led by a team of three Cayman directors with extensive experience in the Cayman Islands working with fund and corporate structures including hedge funds, multi-manager funds, private equity, debt and insurance structures. The team will develop the
- 17/09/2015
Beeks Financial Cloud – which helps institutions trade foreign exchange securely and quickly through the cloud – has bought Chicago-based futures specialist VDIware for an undisclosed seven-figure sum.
The acquisition was self-funded by Beeks Financial Cloud, without borrowing.
The move follows last year’s purchase of New York-based Gallant VPS by Beeks Financial Cloud subsidiary BeeksFX VPS, and the parent company’s set-up of a Japanese arm with staff and an office, in Tokyo.
Berkshire Capital – a New York-based investment bank specialising in mergers and acquisitions in the financial services sector – advised on the VDIware deal.
Berkshire and
- 17/09/2015
Options has added of SWX, Wiener Borse and Nasdaq’s OMX to the firm’s high performance connectivity and managed colocation platform, Velocity, which provides a single integrated low latency platform to all major liquidity centres globally.
This latest expansion follows a period of continued investment and development in the managed service provider’s European connectivity and complements the extensive list of exchange, dark pool and ECN venues currently available on the firm’s distinctive managed colocation offering.
Each venue and feed is linked via the Velocity platform, which leverages the fastest WAN links between these centers, allowing electronic trading firms to access equities
- 17/09/2015
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