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The main event of the week has been the decision of the Swiss National Bank to scrap the cap on the CHF on 15 January. The SNB unexpectedly decided to stop accumulating assets in EUR, a currency that is likely to be debased at the next ECB meeting on January 22. Fundamentally, the SNB could not continue to intervene forever. Since the cap was implemented in September 2011, the balance sheet of the SNB rose by more than 40%, i.e. a massive injection of liquidity (the Fed’s QE3 increased the balance sheet of the Fed by 60% between September 2012 and October 2014).
Miura Consulting’s ARAN solution is now supporting Fund clients with an automated “plug-and-play” AIFMD submission service.
ARAN was designed to eliminate the complexity and resource intensity of completing a manual submission and to reduce the cost of implementing an automated solution.
The Alternative Investment Fund Management Directive (AIFMD) is the latest stringent regulatory reporting requirement, aimed to deliver transparency to the hedge fund and asset management industries. As many Hedge funds are completing their first fund submission this month, Miura has been working with the industry to provide a comprehensive but efficient solution, which quickly imports and maps fund administration
Japan Exchange Group (JPX) and Nasdaq have officially agreed on the development and support of a next-generation derivatives trading system for the JPX subsidiary, Osaka Exchange.
In addition to the trading system, which will operate on Genium INET technology, Osaka will also tap industry-leading SMARTS Market Surveillance for its real-time market surveillance efforts, and TradeGuard for pre-trade risk management functionality, both Nasdaq technologies.
"We are proud and honored to have achieved this important milestone together with JPX and Osaka Exchange," says Lars Ottersgård, Executive Vice President, Market Technology, Nasdaq. "As we have successfully provided services to Osaka since 2011, this
Options, a managed services provider to the global capital markets industry, has appointed former KPMG Director, Brian McKimm as the firm’s new chief financial officer 9CFO).
In his new role, McKimm will be responsible for overseeing the development of Options’ global finance function across Europe, the US and Asia, with a particular focus on investor relations and strategic finance projects. He will also be tasked with ensuring the firm has the necessary financial management capabilities to support Options’ continued growth plans.
In his most recent role with KPMG Ireland, McKimm was Head of the firm’s Internal Audit division and served
Robert Christensen, chairman of Jersey Finance, has been awarded an MBE (Member of the Order of the British Empire) for services to charity in the New Year Honours List.
Among his charity work and contributions to the community, Christensen has been Chairman of Cancer Research UK’s Jersey Committee since 1991 during which time he has led efforts that has helped to raise several million pounds for the charity.
Christensen, who is Managing Director of the Volaw Group in Jersey, was involved in the formation of Jersey Finance Limited and served as a non-executive director between 2000 and 2008. He was
ProTrak International has released Version 10.0 of its industry-leading Advantage CRM product line.
New York, NY; January 16, 2015 – In keeping with its dedication to the traditional and alternative investment segments,
ProTrak International has launched Version 10.0 of its Advantage CRM product line that includes on-premises, browser-based, and mobile licenses.
This release incorporates a number of time-saving enhancements indicative of an active, global user community that continually adds to Advantage’s industry-focused, out-of-the-box functionality.
Key features include:
· The introduction of a fresh, new user interface
· The addition of an iPhone application to the iPad
Trian Fund Management has formed Trian Advisory Partners and named three former CEOs with deep corporate leadership and operational experience as its founding members.
Trian Advisory Partners will provide support to Trian by identifying potential investment opportunities, assisting with due diligence, formulating strategic and operating initiatives for the companies in which Trian invests, and engaging with public company management teams, Boards of Directors, shareholders, and external advisors. Trian Advisory Partners may also join the Boards of Directors of companies in which Trian invests.
The initial Trian Advisory Partners* are:
• William R Johnson – Former Chairman and CEO of HJ
Insurers in Asia and Europe are being guided by the shadow of local regulations, as well as investment logic, in their allocating to alternative strategies.
While their plans are often to boost exposure to non-traditional asset classes, the degree of such increases will often hinge on regulations, according to the inaugural edition of The Cerulli Edge – International Institutional Edition.
In Europe, punitive capital charges on insurers' alternative investments under Solvency II, taking effect from 2016, threaten to limit insurers growing their allocations to non-traditional classes.
In Asia, by contrast, Chinese insurers have used the liberalisation of their investment options
Gold trading volumes on the Dubai Gold and Commodities Exchange (DGCX) reached 41,945 contracts in December, registering a significant growth of 14% year-on-year.
In December 2014, DGCX volumes witnessed a growth of 25% from the same period last year, recording total monthly volume of 962,438 contracts valued at USD27.84 billion. The Exchange’s average daily volume (ADV) grew 19% year-on-year reaching 45,830 contracts in December 2014.
The currency segments led the year-on-year growth trading 897,116 contracts, an increase of 25% from December 2013. Indian Rupee Futures, which recorded the 3rd highest Average Daily Open Interest during the month of December,
Citi’s depositary bank business is enabling European-registered alternative investment funds (AIF) and UCITS funds to trade A-shares through the Shanghai-Hong Kong Stock Connect scheme.
Since the launch of Stock Connect in November last year, Citi has worked very closely with key regulators, exchanges, leading law firms and industry associations in Hong Kong and across EMEA to clarify and strengthen the legal and regulatory structure of Stock Connect for the required due diligence to allow AIF and UCITS funds to invest A-shares through Stock Connect. In addition, Citi was first to develop the Model C solution which is uniquely designed to
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