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INDOS Financial, the first independent UK authorised depositary specialising in hedge funds, is planning to offer a depositary-lite solution to US and other non-EU hedge fund managers.
Since the introduction of the AIFMD in July 2013, US and other non-EU hedge fund managers have needed to comply with a range of requirements in order to market their funds to European investors.
Some countries, notably Germany and Denmark, require compliance with the so-called ‘depositary-lite’ regime which requires the appointment of one or more firms to perform the depositary duties of safe keeping of assets, cash flow monitoring and oversight.
FIX Trading Community, the electronic trading standards body, has published recommended guidelines for transaction cost analysis (TCA) in equities.
The recommended guidelines for TCA in equities is the result of work by the FIX TCA Working Group to address the challenges currently faced by market participants to determine the cost of trading at any or all points in the investment cycle.
There are multiple methodologies and terminologies in current practice, which can result in a lack of transparency and objectivity while producing contradictory results.
To address these concerns, the TCA Working Group polled the members to determine the
Legg Mason’s affiliate Permal Group has launched the Permal Alternative Select Fund, its first open end alternative mutual fund.
The multi-strategy fund is sub-advised by a selection of hedge fund managers.
The fund, which offers investors daily liquidity, has a minimum investment of USD1,000.
By means of a tactical asset allocation programme, the fund is seeking to produce positive returns across a full market cycle, allocating assets to strategies that historically have had a low correlation to each other. These strategies may include equity hedge, event driven, global macro and relative value.
The initial investment strategies and sub-advisers
Liquidnet, the global institutional trading network, has appointed Oliver Hauer as sales director, Germany in the firm’s London-based EMEA team.
Hauer will be responsible for further strengthening and developing relationships with Liquidnet’s community of asset management firms in the region.
He will report directly to Tony Booth, head of sales for Liquidnet Europe.
The appointment follows the launch last year of a block trading service on Deutsche Börse’s Xetra MidPoint with Liquidnet acting as the first block agent.
Mark Pumfrey, head of EMEA, Liquidnet, says: “We saw our European business grow significantly in 2013 as investors’ appetite
The bond rally is to run out of steam and investors should stay overweight equities, according to Luca Paolini (pictured), Chief Strategist at Pictet Asset Management…
The New Year has begun with investors experiencing a reversal of the trends they saw in 2013.
Growth momentum remains solid and inflation is largely under control. What is more, stocks’ current valuations and the Fed’s decision to reduce monetary stimulus do not loom as a hindrance to equity investors.
Investors can therefore maintain a modest overweight in equities and some other riskier asset classes. While we expect developed market stocks to deliver
Derivatives collateral management cloud technology provider CloudMargin has connected with Unavista, part of the London Stock Exchange Group, to offer EMIR compliant trade reporting.
CloudMargin can collate, normalise, enhance and enrich data from a variety of sources in a variety of formats and submit correctly formatted data to Unavista.
"Clients increasingly reject the notion of using multiple third party solutions and middleware providers to cope with ever changing regulation and cover up gaps in existing systems," says Stuart McHardy, managing director of product development and COO of CloudMargin. "They demand state of the art collateral management systems delivering STP connectivity out of the box
CME Group is to launch Euro-denominated deliverable interest rate swap futures (Euro DSF) contracts on 14 April, pending CFTC review.
The product has the same economic exposure as an interest rate swap with the margin and liquidity benefits of a futures contract, and at expiration all open positions will deliver into a CME cleared Euro interest rate swap.
Other key benefits include automatic risk offsets with our liquid Treasury and Eurodollar futures and options, and reduced clearing fees as futures are not typically subject to additional costs charged by OTC clearing members.
The Euro DSF contract is designed
BI-SAM, a provider of performance measurement and attribution, risk analytics, composites management and client reporting solutions for the global asset management industry, has appointed Richard Irons as executive director Europe.
Irons has extensive sales and account management experience, spanning 25 years in the finance and banking sectors.
At BI-SAM, Irons will lead the company's business development and account management activities in Europe.
Irons joins BI-SAM from NYSE Euronext, where he was sales director for NYSE Technologies. Prior to that, he held senior sales and client relationship roles with Bloomberg, SunGard Global Trading, Thomson Reuters and Cable & Wireless.
SunGard has launched Asset Arena Data Connect, a fully automated order processing and control solution for hedge fund managers, private equity firms and fund administrators.
Asset Arena Data Connect helps firms manage incoming and outgoing alternative investment data as well as scheduling and monitoring of data processing – increasing straight-through-processing (STP) and transparency.
Delivered as a hosted solution, SunGard’s Asset Arena Data Connect enables customers to quickly use alternative investment processing platforms including the Depository Trust Clearing Corporation’s (DTCC) National Securities Clearing Corporation’s (NSCC) automated and centralised Alternative Investments Platform (AIP).
It may be used with any record-keeping
CBOE Holdings has reported its best fourth quarter results ever, as well as record revenue and earnings for the full-year 2013, marking the third consecutive year of record financial results.
For the quarter, the company reported GAAP net income allocated to common stockholders of USD45.6m, or USD0.52 per diluted share, compared with USD39.2m, or USD0.45 per diluted share, in the fourth quarter of 2012.
On an adjusted basis, net income allocated to common stockholders was USD45.6m, or USD0.52 per diluted share, compared with USD38.9m, or USD0.45 per diluted share, in the prior year period.
Operating revenue for the
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