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It’s a fair assumption to say that the proliferation of hedge fund regulation has spurred technology providers to produce newer, innovative solutions.
Central to this is the growing complexity surrounding data management. If one were to plot data volume over time over the last five years it would resemble a hockey stick with the introduction of Form PF reporting by the SEC two years ago marking the point at which managers began to deal with ‘Big Data’.
Whether it is Annex IV reporting under AIFMD in Europe, reporting on derivative positions under Dodd-Frank and EMIR, CPO-PQR, FATCA, reporting short selling positions to the Hong
- 23/09/2014
Over the last nine months the pricing of hedge fund side pockets continued to improve relative to previous trading periods, according to Cattegatt Secondaries.
This can be attributed to an improved economic landscape which has resulted not only in better market liquidity but also a more active M&A climate for exits.
As a result, the time investors have to wait to get their funds back has lessened, thus making these type of illiquid securities more attractive.
The USD100 billion market for illiquid hedge fund side pockets started in 2009 and was predicted to last for one or two
- 23/09/2014
International law firm Akin Gump has appointed four partners from Bingham McCutcheon in the firm’s corporate, restructuring and funds practices in London and Hong Kong.
The new partners are: Vance Chapman (corporate, London), Thomas John Holton (funds, London), Matthew Puhar (corporate, Hong Kong) and Thiha Tun (funds, London).
These practitioners join 22 partners from Bingham McCutchen who, as announced on September 17, will be joining Akin Gump in London, Hong Kong and Frankfurt over the coming weeks.
Akin Gump chairperson Kim Koopersmith says: “We were thrilled with our announcement last week, and the chance to welcome these additional
- 23/09/2014
ConvergEx Group has launched a dynamic order routing strategy that allows clients to designate a percentage of an order to be sent to IEX, with the remainder going to ConvergEx’s Darkest algorithm.
The algorithm searches for liquidity among more than 20 other non-displayed venues.
ConvergEx is offering this strategy after analysis of IEX executions showed that client orders were being successfully protected from latency arbitrage.
The Darkest + IEX dynamic routing strategy, developed in collaboration with IEX, allows clients to split their orders, explicitly routing either 25 per cent or 50 per cent of a trade to the
- 23/09/2014
CalPERS’ announcement to divest of hedge funds has created a significant buzz in the media with many people wondering what impact this will have on the hedge fund and pension fund industries going forward.
Agecroft Partners is predicting the following outcomes:
Continued pressure on hedge fund fees for large mandates
Although the media often comments that hedge fund fees are two and 20, the reality is that most large public pension funds on average pay significantly less than this for large investment amounts. Over the past five years there has been a strong trend of hedge funds increasingly
- 23/09/2014
Netagio, the UK-based Bitcoin, gold and sterling exchange, has completed an independent review of its Bitcoin storage environment by BDO under ISAE 3000, the International Standard on Assurance Engagements.
This is the first review of this kind in the Bitcoin industry.
In line with ISAE 3000 the review obtained an understanding of the Bitcoin storage environment, including the evaluation and testing of the design of the relevant control procedures supporting the relevant control objectives, identified by the directors, in order to confirm the control procedures were in operation as at 26 May 2014.
The BDO LLP review found
- 23/09/2014
Domestic regulations in Europe are inhibiting the cross-border benefits of the European Commission’s Alternative Investment Fund Managers Directive (AIFMD), according to analysis by law firm CMS.
CMS has released a passporting guide to help Alternative Investment Fund Managers (AIFMs) navigate the new legislation and understand the complexities of cross-border fund management under AIFMD, other European directives and domestic regulations.
AIFMD, which came into force on 22 July 2014, promotes passporting rights as a key benefit for hedge, private equity, real estate and other alternative investment fund managers. In practice, however, AIFMs are experiencing impediments to passporting because some domestic
- 22/09/2014
“We’ve risen to the challenge to offer a truly integrated risk management approach with APT Enterprise,” comments Laurence Wormald (pictured), COO and head of research, SunGard APT, adding:
Please click here to read more…
- 22/09/2014
- 22/09/2014
Chi-X Japan Limited, a wholly owned subsidiary of market operator Chi-X Global, launched Chi-Match VWAP Cross (Volume Weighted Average Price) on 1 September.
Chi-Match VWAP Cross offers participants a broker neutral morning, afternoon and full-day cross.
Chi-X Japan trading participants access Chi-Match through existing connectivity.
Makoto Nagahori, chief operating officer of Chi-X Japan, says: “We are very encouraged by the early adoption of Chi-Match from both new and existing participants. As participants continue to look for greater liquidity and opportunities to achieve better execution for their clients, we are pleased that we can offer a crossing facility that
- 22/09/2014
- 22/09/2014
The London Metal Exchange (LME) has launched its new clearing house, LME Clear, migrating all of the positions of LME members from previous clearer LCH.Clearnet Ltd to its own risk and clearing system, LMEmercury.
“The successful launch of LME Clear is a fantastic achievement and an important milestone in the LME's development. Building LME Clear was an important strategic decision because it not only provides the LME immediate and substantial revenues, but also gives the LME and the group the ability to pursue new markets, new products and new capabilities, particularly in extending the LME franchise to Asian time zones
- 22/09/2014
- 22/09/2014
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