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The London Metal Exchange (LME) has appointed John Lee as Chief Technology Officer (CTO).
Lee has 22 years of technology experience within financial exchanges, along with extensive leadership and systems delivery expertise. He joins from ICE/ NYSE Euronext, where he most recently led the technology delivery for a new clearing house for LIFFE. Following ICE’s acquisition of NYSE Euronext, John’s responsibility switched to the integration of the LIFFE market with ICE Clear Europe, which was successfully launched in July 2013.
Lee previously held senior technology positions at NYSE Euronext and LIFFE over a period of 20 years, with responsibilities ranging
Larry Keele, head of the Oaktree Capital’s US Convertibles strategy, has decided to retire from the firm effective 30 June, 2015 to pursue his personal interests full-time.
Effective immediately, Stu Spangler, Managing Director, who has been a member of Oaktree’s Convertibles team since 1997 and backup portfolio manager since 2011, will serve as co-portfolio manager of the US Convertibles strategy alongside Keele through June 30 to ensure a smooth transition, assuming full portfolio manager duties thereafter. Keele will remain a member of Oaktree’s Board of Directors.
“As a founding member of Oaktree, Larry has been an invaluable contributor to the
Alpari has filed for insolvency after the majority of the retail currency broker’s clients sustained losses brought about by the Swiss National Bank’s (SNB) decision to scrap the Swiss franc’s currency cap against the euro.
The value of the Swiss franc has been capped at 1.20 per euro for the past three years, but the SNB’s decision to abandon the policy on Thursday saw the franc, at one point, soar by over 40 per cent against the euro.
“The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against
The Securities and Exchange Commission has charged a subsidiary of UBS with disclosure failures and other securities law violations related to the operation and marketing of its dark pool.
UBS Securities LLC agreed to settle the charges by paying more than USD14.4 million, including a USD12 million penalty that is the SEC’s largest against an alternative trading system (ATS).
An SEC examination and investigation of UBS revealed that the firm failed to properly disclose to all subscribers the existence of an order type that it pitched almost exclusively to market makers and high-frequency trading firms. The order type, called PrimaryPegPlus
Fiserv has partnered with HedgeACT, based in Chicago, to deliver access to an array of hedge funds to asset managers and investors within their managed account portfolios.
The HedgeACT portal will be seamlessly integrated with the Unified Wealth Platform from Fiserv to enable sleeve-level functionality for hedge fund research, modelling, investing and reporting.
“Investors have driven triple-digit asset growth in managed accounts over the past five years, according to the Money Management Institute. This swell of new assets has increased the need for further diversification in managed account portfolios,” says Cheryl Nash, president, Investment Services, Fiserv. “Hedge funds are in
In this report, we discuss the results of a survey of more than 80 hedge fund managers (total AuM above USD 1,000bn) conducted at end-December 2014. Managers were asked to express their views for 2015 on global monetary policy, equities, fixed income, credit and FX. They were also asked to provide their views on the hedge fund industry.
JLT Employee Benefits (JLT) has advised the GBP1.5 billion Cornwall Pension Fund on the appointment of Man FRM to manage its hedge fund allocation, which has a target size of 8% of the fund.
This results from an overall investment strategy review, which led JLT to undertake a full open market
procurement exercise with Cornwall Council.
The allocation will be managed via Man FRM’s Managed Accounts solution, which offers tailored solutions for LGPS Funds looking to invest into hedge funds, providing complete transparency and legal control of the assets, whilst also allowing all LGPS Funds to benefit from a sliding management
The Preqin All-Strategies Hedge Fund benchmark gained just 3.78% in 2014, the lowest annual return since the 1.85% loss seen in 2011, according to data from Preqin’s forthcoming 2015 Global Hedge Fund Report.
Most hedge funds failed to match the returns made in the previous year, and solid advances were frequently followed by losses as managers struggled to gain momentum.
Looking beyond the headline returns, however, reveals a more complex picture. All core hedge fund strategies delivered gains to satisfy absolute return investors in 2014. Furthermore, the strong returns of several focused strategies, such as CTA funds and value-orientated equity
Misys, a provider of software solutions to financial services institutions, has added connectivity to DTCC for its Misys Regulatory Reporting Service.
This gives corporates, fund managers and smaller banks the choice of multiple trade repositories that they can automatically connect to so that they can meet their regulatory reporting requirements. Support for commodities reporting has also been added, as well as compliance with new tighter validation rules.
Offered as a software-as-a-service (SaaS) solution, Misys Regulatory Reporting Service (RRS) enables customers to report to a trade repository on the execution, modification and termination of a derivative transaction, without needing to
Man Group has appointed John Cryan to the Board as a non-executive director with immediate effect.
Cryan, 54, has extensive experience at leading global financial institutions and brings excellent knowledge of the regulatory environment in which Man Group operates. He held a number of senior roles at UBS AG over a career spanning more than 25 years with the banking group including serving as Group Chief Financial Officer between 2008 and 2011. Cryan was also Chairman and CEO of UBS AG EMEA between 2010 and 2011 and served as CEO of UBS Limited, the bank’s principal operating entity in the
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