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The CFTC has secured a court order requiring two commodity pool operators and their principal Michael J Siegel to pay restitution of USD104,684.47, disgorgement of USD86,503.36, and a civil monetary of USD259,510.08 over the misappropriation of funds.
The commodity Pool operators – TOTE Fund and MJS Capital Management – are also jointly and severally required to pay disgorgement of USD105,185.89 and a civil monetary penalty of USD315,557.67. The court order further imposes permanent trading and registration bans against all Defendants.
The order finds that Defendants violated the Commodity Exchange Act by misappropriating funds totalling approximately USD191,689 from Monarch Futures
The value of assets under custody held on behalf of customers registered an increase of 5 per cent to EUR12.5 trillion in December 2014 (compared to EUR 12.0 trillion in December 2013).
Securities held under custody in Clearstream’s international business as international central securities depository (ICSD) increased by 7 per cent from EUR 6.3 trillion in December 2013 to EUR 6.7 trillion in December 2014 – while securities held under custody in the German central securities depository (CSD) increased by 2 per cent from EUR 5.7 trillion in December 2013 to EUR 5.8 trillion in December 2014.
For 2014, yearly
London Business School and investment management firm AQR have launched the AQR Institute of Asset Management, which is looking to advance research and best practices in the global asset management community.
AQR’s 10-year commitment makes the firm one of the School’s most significant corporate partners.
The aim of the AQR Institute is to fund and generate research in asset management, equipping individuals and organisations with the insights and tools they need to preserve and generate long-term wealth. Through its research, teaching, and outreach activities, the AQR Institute will recognise exemplary scholars in the field with annual grants and awards, will
The Chicago Board Options Exchange (CBOE) has begun disseminating values for three new CBOE volatility indexes using the prices of CME Dollar/Euro, Dollar/British Pound and Dollar/Japanese Yen futures options.
The CBOE/CME FX Euro Volatility Index (EUVIX), the CBOE/CME FX British Pound Volatility Index (tBPVIX) and the CBOE/CME FX Yen Volatility Index (JYVIX) are the first benchmarks to track the volatility of foreign exchange (FX) futures options. The underlying options are the most liquid FX options traded at the CME, and in 2014, accounted for a combined 80 per cent of the over 15 million total currency options traded at CME.
The Currency Exchange (TCX) has selected Quantifi for pricing and risk management of counterparty credit risk in emerging market currency and interest rate derivatives.
TCX acts as a market-maker in currencies and maturities not covered by commercial banks or other providers, notably where there are no offshore markets, no long-term hedging, or, in extreme cases, no markets at all. TCX decided to select Quantifi as it offered a complete solution that could be rapidly implemented to deliver more comprehensive, accurate and transparent pricing and portfolio risk management.
“We chose Quantifi for their superior analytics,” says Philip Buyskes, Vice President at
Voting for the 6th edition of the Hedgeweek Global Awards has now closed. The Awards will be presented at a lunch ceremony to be held in London and the winners will be announced in due course.
​The annual Hedgeweek Global Awards recognise excellence among hedge fund managers and service providers around the world.
Uniquely, our awards are based on a 'peer review system' whereby our readers – including institutional and high net worth investors as well as managers and other industry professionals at fund administrators, prime brokers, custodians and advisers – are invited to elect a 'best in class' in a series of categories via an
Inflows to the hedge fund industry rebounded to USD10.2 billion (0.4% of assets) in November from USD1.1 billion (0.05% of assets) in October, according to TrimTabs and BarclayHedge.
“Hedge funds took in USD107.6 billion in the first 11 months of 2014, the largest January-November inflow since 2007,” says Sol Waksman, president and founder of BarclayHedge. “That’s a 61% jump from USD66.9 billion in the same period a year ago.”
Hedge fund assets edged up to USD2.40 trillion in November from USD2.39 trillion in October. Assets climbed 14.5% in the past 12 months and are down just 1.6% from the all-time
Fixed income specialist Coherence Capital Partners has appointed John Lovisolo as Member, Chief Operating Officer (COO) and Chief Risk Officer (CRO).
Prior to Coherence Capital, Lovisolo spent 10 years at Barclays, most recently as Managing Director and Co-head of Prime Brokerage Origination. Lovisolo held several leadership roles at Barclays, including running sales for Investment Grade Debt and Structured Credit Products for the first half of his tenor. After the Lehman integration, he was appointed Head of the Financial Institution Structuring Group which was dedicated to creating solutions for the firm’s Pension, Bank and Insurance clients. Prior to Barclays, Lovisolo spent
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has opened a new office in Los Angeles to cater for demand for its AbacusFLEX private cloud solution.
The company achieved a record year in 2014, winning 60 new clients, and sees continued momentum in 2015.
The increased demand for Abacus Group’s private cloud solution is due to a significant interest in managed services and hosted solutions from the financial services industry with both established financial institutions and up-and-coming startup funds. These clients have selected Abacus Group to achieve a scalable, flexible and robust
PwC has appointed Lachlan Roos as its new UK hedge fund leader, taking over from Rob Mellor who is stepping down after leading the hedge fund practice for five years.
Roos is a partner in the firm’s financial services tax division and has been with PwC since 2005. During this time he has built extensive experience working with hedge fund managers in London, New York and Asia on a multitude of issues, ranging from assisting the start-up industry through to mature corporate operational issues. He has been heavily involved in global deal activity across all hedge fund strategies.
Mark Pugh,
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