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Trading volume in CBOE Volatility Index (VIX Index) futures during extended trading hours (ETH) – from 3:30 pm CT to 8:30 am CT – established a new single-day volume record last week.
An estimated 79,926 VIX futures contracts were traded during ETH, surpassing the previous record of 70,168 contracts traded on 16 October.
To date in 2014, approximately 8.4 per cent of VIX futures have been traded during extended trading hours. In June, CFE expanded trading hours to 23 hours and 45 minutes during the trading week.
Through the end of November, total VIX futures trading volume and ADV were
The Lyxor Hedge Fund Index was up +1.3% in November (YTD +0.1%), with 8 out of 12 Lyxor Indices ending the month in positive territory.
The Lyxor CTA Long Term Index (+7.8%), the Lyxor CTA Long Term Index (+5.9%), the Lyxor Special Situation Index (+3.0%) and the Lyxor Lyxor L/S Equity Market Neutral Index (+1.6%).
The rally that started in mid-October extended throughout November without affecting major sovereign bonds. Risky assets were supported by a reflation momentum in Japan, China and, prospectively, in Europe. Meanwhile the acceleration of the plunge in crude oil prices triggered a cross-asset repositioning, offering
Euronext (ENX) has completed its project with Hong Kong Exchanges and Clearing Limited (HKEx) on the Orion Market Data Platform (OMD) with OMD’s extension to support the derivatives market at HKEx.
The previous launches supported HKEx’s securities market (OMD introduction in September 2013) and the establishment of HKEx’s Mainland Market Data Hub in Shanghai in March 2014.
By adopting Exchange Data Publisher (XDP), the ultra-low latency solution developed by Euronext, OMD provides low-latency market data and allows HKEx to disseminate a range of datafeed products with different content and other features to meet the varying needs of information vendors, Exchange
SunGard has launched an independent, real-time transaction cost analysis (TCA) solution for foreign exchange (FX) trading to help traders, corporate treasurers and portfolio managers understand the quality of their executions.
SunGard’s FX TCA solution helps firms gain transparency over their FX trading by providing real-time FX pricing and transaction data on a customisable data analysis toolkit delivered in a software-as-a-service (SaaS) environment.
The absence of a central or regulated pricing venue is driving the need for FX pricing transparency for managing exposure and costs. As FX execution unbundles from custody arrangements, and trading continues to move from manual to electronic
Thunderhead.com and Markit have formed a partnership to establish an online service for creating and negotiating Master Confirmation Agreements (MCAs) at scale.
Markit will integrate Thunderhead.com’s ONE for Capital Markets software as a service (SaaS) solution that automates the production, editing and execution of MCAs and other capital markets documentation, with Counterparty Manager, Markit’s secure document management platform used by approximately 80 banks, 900 buy-side firms and 6,000 corporations for trading, account onboarding, reference-data management, regulatory compliance and other reporting.
A recent pilot programme with 11 of the largest global derivative trading firms from the buy and sell-side demonstrated compelling
Eurex Exchange has launched a new initiative – including a four-month fee holiday for EURIBOR futures – designed to further enhance the appeal of its short-term interest rate derivatives suite.
The zero fees period on trading and clearing of EURIBOR futures will be available from 10 December 2014 until 31 March 2015.
In addition, a range of new functionalities have been introduced with the latest update of the T7 trading system. The new release, introduced this week, provides market participants with the full range of functionalities required for money market derivatives trading, including packs, bundles and strips.
Eurex is the
Gramercy Funds Management has appointed Sarah Glendon to the new position of Senior Vice President, Sovereign Economist.
Glendon's emerging markets sovereign risk expertise will enhance Gramercy's ability to identify and interpret global market trends and movements, as well as their underlying influencing factors. Her addition brings the credit research team to 15 analysts.
"Sarah's insight into the short- and long-term impact that global market trends have on emerging markets credit will strengthen our overall investment capabilities providing a measurable benefit to our clients," says Robert Koenigsberger, Gramercy's Managing Partner, Founder and Chief Investment Officer.
"I am delighted to
Amundi has appointed Benedicte Rabier as Senior Product Specialist, Amundi Alternative Investments, based in the firm’s London office.
Rabier will help to drive the development of Amundi’s alternative investment solutions notably for the UK market including relationships with local consultants. She reports to Michael Hart, Deputy Chief Executive Officer of Amundi Alternative Investments, who also recently joined the Group in London.
Rabier has over 13 years’ experience within Alternative investments. Before joining Amundi AI, she worked as a Sector Specialist focused on alternative investments for Allenbridge Epic. For the previous 10 years, Rabier worked as a trader on the equity
Ben Eaton (pictured), a UK tax partner in Goodwin Procter’s London office, comments on the Finance Bill 2015 draft clauses published by the UK government…
In labelling some payments to investment managers as “disguised fee income”, this is the latest example in a trend on the part of HMRC to label many perfectly commercial arrangements as some other type of arrangement “in disguise” in order to collect a greater amount of tax. If this approach continues to become more widespread it will sow further uncertainty into our already over-complex tax regime.
While the Government’s confirmation that this legislation isn’t targeted
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for November 2014 measured 1.13%.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.43% in December.
"In line with historical patterns, 2014 closes with positive net flows and slightly higher activity for both subscriptions and redemptions," says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.
SS&C GlobeOp Hedge Fund Performance Index
The SS&C GlobeOp Hedge Fund Performance Index is an asset-weighted, independent monthly window on hedge fund performance. On the ninth business day of each month it provides a flash estimate of the
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