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The Securities and Exchange Commission (SEC) is creating a new office within the division of economic and risk analysis (DERA) that will coordinate efforts to provide data-driven risk assessment tools and models to support a wide range of SEC activities.
Since its creation in 2009, DERA has collaborated with market experts throughout the SEC to develop risk assessment tools.
One example, the Aberrational Performance Inquiry, launched in 2009 to proactively identify atypical hedge fund performance, led to eight enforcement actions and is one of the tools used by the division of enforcement to assess private funds.
Similarly, DERA
S&P Global BMI indices will undergo its annual reconstitution on 22 September 2014.
This year’s major changes to the S&P Global BMI indices are the reclassification of Greece to Emerging status from Developed status, as well as the reclassification of Qatar and UAE from Frontier status to Emerging status.
Greece’s constituents will be removed from all S&P Developed BMI market indices and will become a part of the S&P Emerging BMI series. Constituents from Qatar and UAE will be included in the S&P Emerging BMI series for the first time.
After the reconstitution, Greece, Qatar and the UAE
Laura J McMahon has joined BakerHostetler as a partner in the firm’s corporate and energy practices based in the Houston office.
She comes to BakerHostetler from Norton Rose Fulbright, where she co-chaired the Latin America practice group.
McMahon joins the firm just weeks after the Denver office arrival of Poe Leggette and team, also from Norton Rose.
McMahon brings more than 20 years of experience counselling global clients, headquartered in and outside the US, on sophisticated matters including capital markets, securities compliance, corporate governance, mergers and acquisitions and joint ventures, particularly in the midstream master limited partnerships (MLPs)
BATS Chi-X Europe and BX Swiss have entered into a partnership agreement designed to bring greater competition and enhanced market efficiencies to the Swiss equities market.
The partnership comprises two key elements:
· Cross-listings for ETFs: Under FINMA regulations, ETF issuers wishing to market to Swiss investors must list their funds on a Swiss exchange. By operating a cross-listing partnership, BATS and BX will streamline the process, making it quicker and cheaper to list pan-European ETFs.
· Trade reporting: BX has approved BATS’ registration as a Swiss Trade Data Monitor (TDM). As a result, non-Swiss domiciled firms will now have
“The analogy I like to use is the Rubik’s Cube with all the colours mixed up. What we do is take clients through the process of realigning all their data – getting the colours of each block to match – to transform their data infrastructure,” says David van Rooyen, one of the founders of London-based Pomerol Partners.
Pomerol Partners is a business intelligence consultancy that specialises in advanced data visualisations. The firm builds business toolsets – dashboards – to help senior executives make more informed decisions. That sounds straightforward but within the financial services industry, particularly global investment banks, such
Hedge Fund Rocktoberfest, the annual fundraiser for children's charity A Leg To Stand On (ALTSO), will celebrate its 11th anniversary on 22 October at Capitale on 130 Bowery in New York City.
Hedge fund industry professionals will perform rock and roll and acoustic music to raise money for ALTSO, which provides prosthetic limbs and corrective, life-altering surgeries to children with limb disabilities in emerging market countries.
On 8 October, ALTSO is also holding its third annual Rocktoberfest-Chicago at City Winery at 1200 W Randolph Street in Chicago.
“This year’s events will be particularly special to us at ALTSO,”
Some of the largest hedge fund managers such as BlueBay Asset Management LLP, Marshall Wace LLP and Brevan Howard are piling in to the liquid alternative fund space as demand shows no sign of abating reported Bloomberg this week.
A survey by Deutsche Bank AG, which canvassed opinion from 86 hedge fund managers overseeing USD6tn in assets, found that 42 per cent currently offer liquid alternative products; up from 27 per cent last year.
A quarter of managers said that they planned on launching at least one alternative UCITS product over the next 12 months. To underscore just how
“We’ve risen to the challenge to offer a truly integrated risk management approach with APT Enterprise,” comments Laurence Wormald, COO and head of research, SunGard APT, adding:
“When you have different systems and you’re trying to estimate a VaR number by combining one number from the equity desk with another number from the rates or credit desk, that is a discredited model. During the financial crisis, too many firms discovered how dangerous it was to do that.”
APT Enterprise launching on 22 September 2014 around a series of seminars entitled “The Challenges of Integrated Risk Management”. It uses the
The Association of the Luxembourg Fund Industry (ALFI) has appointed Marc-André Bechet as director of legal and tax.
Camille Thommes, director general at ALFI, says: “Marc-André has extensive experience of the investment fund industry's legal, regulatory and tax environment and he will be a valuable addition to our team.”
Before joining ALFI, Bechet was head of the investment funds services at Banque Degroof Luxembourg, responsible for fund administration and custody. He was also a member of the Banque Degroof Luxembourg’s management board.
Prior to joining Banque Degroof, Bechet worked for 18 years at RBC Dexia in Luxembourg, where he held
Pomerol Partners, a business intelligence consultancy that specialises in advanced data visualisations, has released a white paper that aims to help sell-side institutions entangle the complexity of their IT infrastructures.
Entitled “A Front Office Guide to Better Analytics”, it is split into two sections referred to as the reactive iteration stage and the proactive iteration stage: an analytical roadmap designed to help senior management within financial institutions better visualise their data through innovative dashboards.
The central premise, in this age of big data, is that by removing the historical silo-based approach to data management, front office teams should be
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