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Interactive Brokers will offer trading on TOM, a trading venue in The Netherlands, to its brokerage clients as of 24 March 2014.
Clients will be able to trade directly on TOM in derivatives.
With the connection of Interactive Brokers, more than 50 per cent of the Dutch retail flow is executed via TOM.
Willem Meijer, CEO of TOM (The Order Machine), says: "The decision of Interactive Brokers to offer our market to their clients is an important confirmation of our success. After our launch 1.5 years ago TOM has created a highly liquid derivatives market with significant volumes
New insurance provider Apsley Specialty has teamed up with PartnerRe to launch a specialist underwriting service to the hedge fund sector to deal with the new AIFMD requirements.
The agreement, which has a long term potential, was signed between the parties at the end of 2013.
Recent changes to the AIFMD now dictate that the majority of hedge fund managers must have liability risk insurance cover in place by 22 July 2014. Apsley is one of the first firms to offer these services to the European fund management industry.
Apsley will be backed by PartnerRe, the international reinsurance
100 Women in Hedge Funds (100WHF) is to honour Jane Buchan, chief executive officer of Pacific Alternative Asset Management Company (PAAMCO), with the 2014 North American Industry Leadership Award.
Buchan (pictured) will receive the award at the annual 100WHF New York Gala, to be held at Cipriani 42nd Street in New York City on 12 November 2014.
She will also be recognised as the award honoree at the inaugural 100WHF Cayman Gala at Tiki Beach on 3 May 2014.
100WHF presents its North American Industry Leadership Award annually to a woman whose professional talent, business ethic, and passion
Patrick Cole and his company, Global Strategic Marketing (GSM), are to pay over USD2.2m in a CFTC enforcement action over a multi-million dollar off-exchange foreign currency (forex) Ponzi scheme.
A court order, issued 26 February 2014, imposes disgorgement of USD1,146,399 and also requires Cole and GSM to pay civil monetary penalties of USD1,146,399.
The order further imposes permanent trading and registration bans on Cole and GSM, and prohibits them from violating the anti-fraud provisions of the Commodity Exchange Act, as charged.
Specifically, the court’s order finds that in marketing a fraudulent forex investment programme offered by another defendant,
Electronic order books (EOBs) continue to dominate the Nasdaq market for covered shares, a report by Celent has found.
Their cumulative share has grown from 76 per cent in September 2013 to 78 per cent.
That of market-makers has declined from 23 per cent to 21 per cent.
The report, Execution Quality in the Nasdaq Market, analyses over 16 billion orders over the period of 1 October 2013 to 31 December 2013. In total, the report measures and ranks 140 market participants according to their execution speed and prices obtained for incoming orders.
BATS Exchange, NYSE Arca,
Standard Life Investments combines micro and macro capabilities to launch new fund… BNY Mellon closes two sub-funds…
BNY Mellon has taken the decision to close two of its funds on the back of falling assets. As reported this week by Citywire Global, the two funds in question are: BNY Mellon Evolution Global Alpha and BNY Mellon Latin America Infrastructure.
The former launched in 2006 as a multi-asset absolute return strategy and closed with less than EUR7.1mn of assets. The latter launched more recently, in 2010, to give investors exposure to companies involved in Latin American infrastructure projects. Over the
The SS&C GlobeOp Forward Redemption Indicator for March 2014 measured 3.81 per cent, up from 3.38 per cent in February.
"As we approach the end of the first quarter of 2014, forward redemption requests remain slightly lower than this time last year,” says Bill Stone, chairman and chief executive officer, SS&C Technologies.
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients on the GlobeOp platform.
The value of assets under custody held by Clearstream on behalf of customers registered an increase of six per cent to EUR12.1trn in February 2014 compared to EUR11.4trn in February 2013.
Securities held under custody in Clearstream’s international business as international central securities depository (ICSD) increased by five per cent from EUR6.1trn in February 2013 to EUR6.4trn in February 2014, while domestic German securities held under custody in the German central securities depository (CSD) increased by seven per cent from EUR5.4trn in February 2013 to EUR5.7trn in February 2014.
In February 2014, 3.7 million international settlement transactions were processed,
Marc Spilker is to step down as president of alternative investment manager Apollo Global Management and as a member of the firm’s executive committee.
Apollo’s executive committee will continue to manage the firm and will rely upon the firm’s management committee of senior executives from the firm’s investment and infrastructure functions to assist in implementing the firm’s growth initiatives and manage day to day operations.
Members of Apollo’s executive committee are Leon Black, chairman and chief executive officer; Josh Harris, senior managing director; and Marc Rowan, senior managing director.
Spilker (pictured) will stay on as a senior advisor
The Neuberger Berman Absolute Return Multi-Manager Fund, which offers investors access to hedge fund managers at lower fees and account minimums, has exceeded USD1bn in assets under management.
Launched on 15 May 2012, the fund is managed by members of the Neuberger Berman hedge fund solutions team, which has significant experience managing fund-of-hedge fund strategies. The team allocates fund assets to multiple hedge fund advisers that employ distinct alternative investment strategies.
The fund is available to retail investors, does not charge performance-based management fees, offers daily liquidity, has lower investment minimums than typical hedge funds and full transparency of
