Latest News
Cadwalader, Wickersham & Taft has appointed fund finance practitioners Michael C Mascia and Wesley A Misson as partners.
The addition continues the firm's global expansion, with nine lateral partners and their teams joining the firm to date in 2015, and builds on the firm's significant presence in Charlotte, NC.
Mascia and Misson have a globally recognised practice in subscription credit facilities (SCFs) and fund finance, representing lenders in facilities to many of the world's preeminent real estate and private equity funds. Mascia, previously Co-Head of Mayer Brown's Global Lending Practice, is the founder of the annual Subscription Credit Facility
A new report from Cerulli Associates finds that the hunt for a better return is leading growing numbers of European retail investors toward alternative funds.
This phenomenon will create opportunities for asset managers willing to be flexible on fee structures, the firm details in the latest issue of The Cerulli Edge – European Monthly Product Trends Edition.
Cerulli Associates says providers are making hitherto closed-off vehicles more accessible, boosting liquid alternatives including retail-friendly hedge funds, which are now available on direct-to-consumer platforms. The firm says that such funds number 500, with assets under management having more than doubled since the
Investment Technology Group (‘ITG’) is a leading provider of technology, agency-only trading, research, and analytics. Over the years, it has built out its platform capabilities to support both institutional investment managers and global hedge funds that are looking for tools and services that assist them in managing their portfolio and achieving best execution.
For start-up managers in particular, the ability to interact with a single platform vendor to manage the full trade lifecycle is an attractive proposition given that regulations and investor expectations have raised the cost barrier.
Scott Kurland (pictured) is Global Head of Platform Solutions at ITG. He
The FOMC meeting on 17 September caused market jitters as market participants were probably expecting the Fed to clarify its policy intentions. The stance of the FOMC was merely interpreted as a delay in the rate hike, with a first move still likely to take place later this year as confirmed by J Yellen in a speech on 24 September.
Neuberger Berman has appointed Jonathan Geoghegan to the UK Financial Institutions and Intermediaries client group, effective immediately.
Geoghegan will be contributing to the continued growth of the Neuberger Berman intermediary business; specifically focusing on broadening and deepening relationships across UK and global private banks, asset managers, family offices, wealth managers and multi managers. Based in London, Jonathan reports to Tom Douie (pictured), Head of Intermediary, EMEA at Neuberger Berman.
Geoghegan has over 19 years’ industry experience. He joins from HSBC Global Asset Management where he was a Senior Relationship Manager for six years, responsible for Financial Institution distribution relationships.
The European Securities and Markets Authority (ESMA) has published its final technical standards (TS) on some of the most important pieces of post-crisis financial regulation: the Markets in Financial Instruments Directive (MiFID II), the Market Abuse Regulation (MAR) and the Central Securities Depositaries Regulation (CSDR).
ESMA’s TS translate how the legislation will apply in practice to market participants, market infrastructures and national supervisors. The new technical standards will alter the functioning of European financial markets by increasing their transparency, safety and resilience as well as investor protection.
Steven Maijoor (pictured), ESMA Chair, says: “The rules put out by ESMA
Euronext has launched the Euronext BeNe 40 Equal Weight index, an index reflecting the 40 most traded companies included in the BEL 20 and AEX indices.
The index is composed of the 40 most traded companies included in the BEL 20 and the AEX and will be rebalanced to equal weight at each quarterly review. The Euronext BeNe 40 Equal Weight index will be calculated as a price index, net return index, gross return index and an excess return index. The index is calculated and published every 15 seconds.
The index is designed to act as an underlying for
London Stock Exchange Group (LSEG) and The Depository Trust & Clearing Corporation (DTCC) are partnering to provide clients with a connection to UnaVista’s Approved Reporting Mechanism (ARM).
The service will allow DTCC clients to comply with the Markets in Financial Instruments Regulation (MiFIR) utilising their current connection from DTCC’s Global Trade Repository (GTR). The MiFIR reporting requirements will supplement the existing EMIR post-trade reporting requirements for derivatives trading activities. UnaVista and DTCC currently jointly process around 20 billion regulatory reports annually, across all asset classes and global markets.
Through this joint offering, GTR users will be able to submit
Lutetia Capital’s Lyxor Lutetia Merger Arbitrage (UCITS) fund increased its assets to USD125 million in the two months since becoming available on the Lyxor UCITS platform, on 7 July.
The fund launched with initial commitments of USD40 million and also serves as a dedicated managed account for the SGI Merger Arbitrage II flagship Index from Société Générale.
The strategy pursued is pure merger arbitrage, which focuses on large cap equities in Europe and North America subject to friendly takeover bids. The strategy seeks to deliver regular absolute returns while preserving capital in all market conditions, through a detailed quantitative
The US Commodity Futures Trading Commission (CFTC) has issued an order regarding ICE Trade Vault, a provisionally registered swap data repository.
The order adds the “interest rate” and “foreign exchange” asset classes to those asset classes that ICE Trade Vault intends to serve as a swap data repository pursuant to section 21 of the Commodity Exchange Act and Part 49 of the Commission’s regulations.
The CFTC granted provisional registration to ICE Trade Vault, LLC as a swap data repository on June 27, 2012. ICE Trade Vault, LLC is also currently approved to accept swap data for the credit and
