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Confluence is collaborating with Fundsquare to provide secure delivery of AIFMD Transparency Reporting to all National Competent Authorities (NCAs) across Europe.
The Confluence SaaS-based technology-enabled Unity NXT AIFMD Transparency Reporting aims to ensure completeness, accuracy and control over the entire AIFMD reporting process — from the collection of data, the calculation of answers, the approval of the report form contents, to the transmission of the filing. By incorporating Fundsquare into the solution, asset managers need only upload files once for them to be disseminated to multiple NCAs in the format required by each to ensure accuracy and timeliness of filings
The Depository Trust and Clearing Corporation (DTCC), in collaboration with the financial services industry, has formed an industry steering committee to drive the implantation of two-day settlement cycle (T+2) in the US.
DTCC has teamed up with an industry working group to facilitate the move to shorten the settlement cycle in the US for trades in equities, corporate and municipal bonds, and unit investment trusts (UITs).
The move from the current three-day settlement cycle (T+3) to a T+2 cycle will reduce operational and systemic risk by limiting exposure and creating greater efficiencies in trade processing.
Co-chaired by Kathleen
The SEC has sanctioned a high frequency trading firm for placing a large number of rapid-fire trades in the final two seconds of trading each day to manipulate the closing prices of NASDAQ-listed stocks.
This marks the first high frequency trading manipulation case.
An SEC investigation found that Athena Capital Research used an algorithm that was code-named Gravy to engage in a practice known as “marking the close” in which stocks are bought or sold near the close of trading to affect the closing price. The massive volumes of Athena’s last-second trades allowed Athena to overwhelm the market’s available liquidity
Lombard Risk Management has released its latest version of COLLINE — the company's award-winning collateral management, clearing, inventory management and optimisation solution.
Lombard Risk's COLLINE enables firms to move away from managing collateral in business silos by supporting multiple business lines on a single platform therefore enabling firms to significantly better manage their collateral inventory and optimise to ensure the best use of it — addressing the issues of limited liquidity and lower capital charges. COLLINE version 13 enhancements and new functionality includes:
• Regulatory Enhancements – supporting clients in meeting their IOSCO and Basel III regulatory commitments.
• User-definable
Liquidnet, the global institutional trading network, has further strengthened its fixed income team in Europe with the appointment of Jonathan Gray as Head of Fixed Income Sales.
Reporting directly to Mark Pumfrey (pictured), CEO Liquidnet Europe and Constantinos Antoniades, Global Head of Fixed Income, Gray will be responsible for expanding the number of buy side institutions on the platform adding additional liquidity and supporting growth through the introduction of new asset classes.
Liquidnet spearheaded its expansion into fixed income with the acquisition of Vega-Chi in March 2014 which has already built an efficient way to trade high yield and
The London Metal Exchange (LME) has been appointed by the London Platinum and Palladium Fixing Company Limited (LPPFCL) to be the new provider of London platinum and palladium prices.
The LME’s custom-built electronic solution, LMEbullion, will provide a pricing methodology that fully meets the administrative and regulatory needs of market participants including the IOSCO Principles for Financial Benchmarks. LMEbullion is already at an advanced stage of development and will be ready in advance of the anticipated go-live of 1 December 2014.
“We are delighted to have been appointed by the LPPFCL and precious metals market participants to be the
Despite infrastructure fundraising showing signs of growth, achieving a successful fundraise is more difficult than ever in such a competitive market. Preqin examines which funds are more likely to achieve their target size and the key factors for fundraising success.
As Q3 2014 draws to a close, the unlisted infrastructure market appears to show slight signs of improvement, with the USD25bn raised by 26 funds reaching a final close this year so far exceeding the capital raised from Q1 to Q3 2013, when USD23bn was raised by 41 funds closing. Additionally, unlisted infrastructure funds are increasingly exceeding their target sizes,
Hedge funds outperformed underlying markets in September with the Eurekahedge Hedge Fund Index returning a flat 0 per cent while the MSCI World Index finished the month down 1.86 per cent. On a year-to-date basis, hedge funds are up 3.87 per cent, falling just slightly behind underlying markets as the MSCI World Index returned 3.99 per cent over the same period.
Despite this, redemption pressure builds up in hedge funds following three consecutive months of net asset outflows as investors withdrew USD13.3 billion from global hedge funds in Q3 2014.
Investors are gearing up in earnest at the prospect
Trading volume in S&P 500 Index (SPX) options and CBOE Volatility Index (VIX) futures set new single-day records, while C2 Options Exchange (C2) experienced the busiest trading day in its history on 15 October.
Total exchange-wide options volume at Chicago Board Options Exchange (CBOE) was 10.6 million contracts (estimated) traded, just shy of the all-time record of 10.9 million contracts on 8 August 2011.
Trading of options on the S&P 500 Index (SPX) at CBOE set a new single-day volume record on 15 October, as 2,671,462 contracts (estimated) traded, surpassing the previous high of 2,282,029 contracts on 20 June
Man Group as reported a 25 per cent increase in funds under management (FUM) to USD72.3 billion at 30 September 2014 (30 June 2014: USD57.7 billion).
The acquisition of Numeric and Pine Grove added USD16.2 billion of assets, net inflows and performance adding another USD1.3 billion of FUM and negative FX movements reducing FUM by USD2.9 billion
Net inflows in the quarter totalled USD0.4 billion, comprising sales of USD4.5 billion and redemptions of USD4.1 billion with net inflows into quant alternatives and long only strategies being partially offset by net outflows from discretionary alternatives, fund of funds alternatives and
