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Bank of America Merrill Lynch (BofAML) will be a participant of the GMEX Exchange when the exchange launches on 7 August 2015. BofAML will offer execution and clearing services, for the GMEX products, to its client base.
The initial products traded will be GMEX’s pioneering Interest Rate Swap Constant Maturity Futures (IRS CMF) contracts, backed by Eurex, which bring the benefits of futures trading closer to OTC products, while delivering the efficiencies of centralised order execution, standardised central clearing and hedging of interest rate exposure.
Bank of America Merrill Lynch will provide clearing, execution and settlement services for the IRS
- 05/08/2015
- 05/08/2015
July average daily transaction value on the Euronext cash order book stood at EUR7,911 million (+38 per cent compared with July 2014). Activity on ETFs remained dynamic with an average daily transaction value at EUR513 million, up 81 per cent on July 2014.
In July, the average daily volume on equity index derivatives was slightly down at 208,718 contracts (-8 per cent compared with July 2014), and the average daily volume on individual equity derivatives was down at 215,648 contracts (-21 per cent compared with July 2014). The exchange’s effort to develop the retail activity in Amsterdam paid off again
- 05/08/2015
Eze Software Group has released a number of new features for the buy-side and the sell-side in the latest version of its EMS. Enhancements include actionable IOI support, securities borrowing improvements and enriched support for ACT reporting.
Traders now can receive targeted indications of interest from brokers within the EMS. The EMS standardises all incoming IOIs and distributes them to traders at broker-targeted clients. Traders can view and trade IOIs from a variety brokers. The feature also benefits the sell-side, making the EMS a destination for broad IOI distribution to Eze Software’s client base.
“The actionable IOI feature provides
- 05/08/2015
Bermuda remains fully committed to the process of qualifying under rules set out by the European Union for third-country rights for Island-based alternative fund managers.
The European Securities Market Authority (ESMA) last week cleared the way for Guernsey, Jersey and Switzerland (pending passage of legislation by the latter) to be approved for extension of "passport" rights that would allow non-European Union fund managers to market their Alternative Investment Funds (AIFs) in EU member states on a cross-border basis. The recommendation would extend the same rights to approved non-EU entities that are currently available only to EU-based AIF managers (AIFMs).
In
- 05/08/2015
Aberdeen Asset Management is to acquire Arden Asset Management (Arden), a provider of hedge fund solutions with offices in New York and London.
This acquisition is in line with Aberdeen’s strategy to strengthen and grow its global alternatives platform encompassing multi-manager research and selection across hedge funds, private equity, and property along with direct investments in infrastructure projects. This means that Aberdeen can offer its clients access and exposure to high quality alternative investments across liquid strategies, private markets and real assets.
Arden is a hedge fund specialist that creates and manages hedge fund portfolios across the liquidity spectrum using
- 05/08/2015
Three of Market Vectors Index Solutions (MVIS) six investable Long/Short Equity Indices recorded positive performance in July.
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 led the way wiyh a return of 1.80 per cent followed by the Market Vectors Global Long/Short Equity Index (1.61 per cent) and the Market Vectors Emerging Markets Long/Short Equity Index
(0.26 per cent).
The month’s biggest loser was the Market Vectors Asia (Developed) Long/Short Equity Index which was down
- 04/08/2015
The new DC Charge cap on default funds may eventually drive trustees to source products based on cost rather than the value that a well-sourced selection of investment solutions should deliver for their members.
That’s the concern of Aurum, a specialist alternative investment manager focused on hedge fund solutions.
Kevin Gundle (pictured), CEO of Aurum Funds Limited, says: "The charge cap restricts the ability of investment managers to provide innovative solutions that provide greater value to pension fund members. This industry could be in real danger of being left with a series of conventional, undifferentiated, low-cost products in a race
- 04/08/2015
Over the last 10 years, organisations have undergone a wholesale change in the way they run their businesses. Thanks to cloud-based platforms, wireless Internet, and the proliferation of desktop and mobile device applications, the perimeter of most businesses has moved beyond the four walls of their office. This has revolutionised the way people work: no longer tied to their desks they can be equally as effective aboard an aircraft or sitting next to the beach on vacation.
Data has become instant. Accessible.
Of course, this has placed huge demands on IT managers who must now control the security of their
- 04/08/2015
Jim Bumpus has joined Columbia Threadneedle Investments as National Sales Manager.
Bumpus will lead intermediary sales and distribution in the broker dealer and independent channels and report to Joe Kringdon, Managing Director, Head of Intermediary Distribution.
In this role, Bumpus will oversee an established and experienced sales team and be responsible for expanding the firm’s business relationships with US intermediary partners.
“We are pleased to welcome Jim to Columbia Threadneedle Investments,” says Kringdon. “His extensive experience and demonstrated focus on clients reinforces our commitment to our distribution partners.”
Bumpus brings nearly 30 years of experience in financial services, including multiple
- 04/08/2015
American Century Investments has expanded its line of alternative mutual funds and created a new brand – AC Alternatives from American Century Investments.
The new suite of mutual funds includes the new subadvised multi-manager AC Alternatives Income (ALNNX-Investor Class) fund and two existing American Century-managed mutual funds, Equity Market Neutral (ALHIX-Investor Class) and Market Neutral Value (ACVVX-Investor Class). The latter two have been rebranded with the AC Alternatives moniker.
American Century has engaged Perella Weinberg Partners Capital Management to provide investment management and allocation services and to recommend and interact with sub-advisors for AC Alternatives Income, as well as two
- 04/08/2015
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