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CME Group, LOOP and NEO Market are teaming up to develop the first-ever physically delivered crude oil storage futures contract.
The new LOOP Crude Oil Storage futures contract will begin trading on Sunday, 29 March, 2015, for trade date Monday, 30 March, 2015, pending all relevant CFTC regulatory review periods.
This new contract will provide market participants with an innovative, exchange-traded futures contract based on crude oil storage capacity at LOOP's Clovelly Hub in Louisiana, beginning with the May 2015 contract month. Each futures contract will represent the right to store 1,000 barrels of crude oil at the hub for
Mark Evan Bloom and his firm North Hills Management are jointly to pay a USD26 million fine to settle CFTC charges over the operation of a fraudulent commodity pool, North Hills LP.
Previously, on 11 June, 2010, the court entered a Consent Order of permanent injunction against the Defendants. In the Consent Order, the court found that Bloom and NHM misappropriated approximately USD13 million from North Hills, which they operated from at least 2002 until February 2009. During this period, Bloom maintained a lavish lifestyle, including purchasing a luxury apartment in Manhattan for over USD5 million. The Consent Order also
Muzinich & Co has appointed Jamie Cane as credit analyst. Cane joins the firm’s investment team in London and will focus on identifying credit opportunities within the growing European high yield market.
Cane joined Muzinich & Co from Babson Capital where he spent more than three years focusing on High Yield Bonds and Leveraged Loans across a range of sectors and geographies. Prior to that he worked at Anglo Irish Bank, primarily in restructuring. He holds a First Class Honours Degree in Economics from the University of Manchester and is a CFA Charterholder.
Jamie joins Muzinich’s deep analyst team of
Mitsubishi UFJ Fund Services (Mitsubishi UFJ) has expanded its middle office services in response to the competitive and regulatory pressures faced by clients.
Mitsubishi UFJ’s middle office services enable fund managers to outsource their middle office operations, leveraging Mitsubishi UFJ’s expertise and in turn freeing up in-house resources allowing them to stay focused on their primary investment objectives.
Mitsubishi UFJ’s continued investment into middle office services highlights the Bank’s commitment to providing a robust end-to-end fund administration solution to the investment industry.
The middle office technology is incorporated within the firm’s wider custody and fund accounting systems, and will
SYZ Asset Management’s OYSTER – European Corporate Bonds EUR fund has been ranked best fund in the UK over three years and ten years by Lipper in the “Bond Euro – Corporates” category.
OYSTER – European Corporate Bonds EUR is a UK-registered sub-fund of the OYSTER SICAV which is a Luxembourg domiciled UCITS managed by SYZ Asset Management (Luxembourg) SA. This accolade underlines the breadth of winning strategies offered by SYZ Asset Management, which is already well-known for its European equities franchise. Indeed, in the past, Absolute Return and Dynamic Allocation funds managed by SYZ Asset Management have received several
Maitland, the global advisory and fund services firm, has been voted Best European Hedge Fund Administrator at the Hedgeweek Awards for 2015, held in London last week.
Maitland offers independent third-party fund administration globally across all fund types and investment styles, with a focus on institutional asset managers, pension funds and hedge & private equity funds. It acts as an integrator of best of breed technology to provide automated front, middle and back-office administration services to clients. Through a unique combination of fund, legal and corporate services, Maitland is able to devise solutions such as its comprehensive FATCA services and
Prescient Fund Services, the fund administration business in the Prescient Group, has added global execution services to its offering.
Craig Mockford, Head of Prescient Fund Services, says: “Our global execution services include a single buy-side point of contact with brokers for access to global equities, derivatives, and foreign exchange markets.
“By handing over the dealing function, fund managers can focus on analysis.”
Established in 2010, Prescient Fund Services (PFS) is wholly-owned by JSE-listed Prescient Limited and offers specialist outsourced administration services to asset managers, multi-managers and other institutional investors. Services include segregated portfolio administration, unitisation, daily pricing and
LCH.Clearnet’s SwapClear service will be launching new interest rate portfolio margining capabilities for its members and their clients around the world.
Under the new offering, market participants using SwapClear, the largest interest rate derivatives liquidity pool, and LCH.Clearnet's listed rates service will be able to maximise their margin offsets between OTC and listed interest rate derivatives, allowing them to more efficiently manage their collateral obligations.
Portfolio margining will be available on an open access basis, to regulated venues that list suitable interest rate derivatives. The initiative is expected to go-live within 12 months, subject to regulatory approval.
Daniel Maguire, Global
Hedge fund capital invested in emerging markets fell at the end of 2014 from the record level established in Q3 on a combination of performance losses and investor outflows concentrated in funds with exposure to Russia.
The HFRI EM: Russia/Eastern Europe Index declined -18.6 per cent in 4Q14 bringing the 2014 full year loss to -26.5 percent, making 2014 the third worst calendar year decline for the Index. Hedge fund capital invested in Emerging Markets declined by USD1.4 billion in the fourth quarter to conclude 2014 at USD183.8 billion, according to the latest HFR Emerging Markets Hedge Fund Industry Report.
The February 2015 average daily transaction value on the Euronext cash order book stood at EUR8,247 million (+24% compared to February 2014).
The average daily volumes on equity index derivatives were down at 225,995 contracts (-15% compared with February 2014), and the average daily volumes on individual equity derivatives were down at 264,767 contracts (-8% compared to February 2014).
Activity on commodity derivatives remained strong in February with an average daily volume of 52,474 contracts traded, up 18% when compared to February 2014.
Euronext had nine new listings in February that altogether raised more than EUR2 billion. In addition EUR1,211
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