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In January 2014 the international derivatives markets of Eurex Group recorded an average daily volume of 8.5 million contracts, down from 8.6 million contracts in January 2013.
Of those, 5.5 million were Eurex Exchange contracts (January 2013: 5.9 million), and 3.0 million contracts (January 2013: 2.7 million) were traded at the US-based International Securities Exchange (ISE).
In total, 121.6 million contracts were traded at Eurex Exchange and 62.6 million at ISE.
At Eurex Exchange, the equity index derivatives segment totalled 58.4 million contracts compared with 47.9 million in January 2013. The future on the Euro Stoxx 50 Index
With the recent launch of the Cheyne European Mid Cap Equity Fund, Cheyne’s UCITS umbrella has reached USD575m of assets, from just under USD30m two years ago.
The programme now incorporates five funds which have each been launched in response to investor demand.
Jonathan Lourie, co-founder and chief executive, says: “We are enormously proud of the firm’s achievement in growing its UCITS offering to over USD500m during this period. It is testament to Cheyne’s expertise and innovation and demonstrates our commitment to adapting to the changing regulatory environment, enabling us to provide investors in different jurisdictions with access to
BATS Global Markets and Direct Edge completed their merger on 31 January, creating one of the world’s largest stock exchange operators.
In January, combined US market share of the BATS and Direct Edge exchanges reached 20.54 per cent compared to US exchanges operated by NYSE Euronext (20.58 per cent) and Nasdaq OMX (20.02 per cent).
In Europe, BATS again finished January as the largest stock exchange with market share of 22.11 per cent.
The combined company, which will operate under the BATS Global Markets brand, is the number one US exchange operator by market share for all exchange-traded
Canadian asset management company Aston Hill Financial has appointed John Fielding to its board of directors, effective immediately.
Fielding is a director of Array Marketing (formerly IDMD Design and Manufacturing), a retail merchandising company he founded and later sold in 2000.
Fielding also serves as chairman of the board and is a founding shareholder of Ethoca Technologies, an e-commerce fraud solutions provider.
Fielding is a principal in StudentHouses.ca, Amsterdam Brewing and the New Amsterdam Brew Pub in Toronto, NovaCore Communities and John Fielding Horses.
Aston Hill Financial offers a suite of retail mutual funds, closed end funds,
Gottex Fund Management has launched its Swedish multi-asset UCITS product on the Folksam unit linked platform and has opened its Scandinavian office.
Gottex recently launched the Gottex GMA Balanserad Fund, a daily dealing UCITS fund, on the Folksam unit-linked platform in Sweden.
The fund is a globally diversified core investment solution which invests in nine asset classes including global and Swedish equities, emerging markets, real estate, commodities and hedge funds. The asset allocation is inspired by top performing US University Endowments like Harvard and Yale, which have generated very strong returns over the last 25 years.
The Gottex
By Fiona Le Poidevin – The implementation of AIFMD provides increased reasons to (re)domicile or co-domicile funds in the third country of Guernsey, says Fiona Le Poidevin, Chief Executive of Guernsey Finance.
In October, the Alternative Investment Management Association (AIMA), together with EY, published the results of a survey which showed the inconsistency in approach from national regulators in how they are implementing the Alternative Investment Fund Managers Directive (AIFMD).[i]
It followed a previous AIMA and EY report published in late July last year which showed that only 12 out of 31 European Union (EU) and European Economic Area
CBOE Holdings has reported new single-day volume records for CBOE Volatility Index (VIX Index) options and the C2 Options Exchange (C2SM).
Options on the VIX Index established an all-time, single-day volume record of an estimated 2,367,764 contracts traded, surpassing the previous record of 1,797,052 contracts traded on 8 October 2013.
C2SM, meanwhile, set an estimated daily record of 662,195 contracts traded, surpassing the previous record of 623,314 contracts traded on 19 April 2013.
VIX Index futures recorded their second-best day ever, with estimated volume of 355,578 contracts. VIX futures’ most active day remains 449,955 contracts traded on 15
The US Commodity Futures Trading Commission (CFTC) has revoked the registrations of Chicago Trading Managers (CT Managers).
CT Managers had been registered with the CFTC as a commodity pool operator and commodity trading advisor.
On 27 December 2013, CFTC judgment officer Philip V. McGuire issued a decision against CT Managers, finding that it was statutorily disqualified from CFTC registration based on a default judgment and permanent injunction order entered by the US District Court for the Southern District of New York on 15 May 2013.
That injunction prohibits CT Managers from, among other things, committing further fraud; entering
The Securities and Exchange Commission (SEC) has filed a civil injunctive action against Revelation Capital Management and its principal, Christopher PC Kuchanny, alleging illegal short selling.
Kuchanny, who resides in Hamilton Parish, Bermuda, is the chairman, chief executive officer, chief investment officer and sole shareholder of Revelation Capital, an exempt reporting adviser with its principal place of business in Pembroke, Bermuda.
Rule 105 is designed to prevent potentially manipulative short selling just prior to the pricing of follow-on and secondary offerings, thereby facilitating offering prices determined by independent market forces. Rule 105 prohibits any person who makes a short
Kinetic Partners, the global professional services firm, is the first advisory and consulting group to be granted AIFM licensing by the Commission de Surveillance du Secteur Financier (CSSF).
Kinetic Partners (Luxembourg) Management Company can now operate as a “Super ManCo”, offering outsourced fund management services to third party AIFs in addition to UCITS funds.
The solution includes a complete AIFM-licenced third party management platform, based in Luxembourg.
With this SuperManCo status, Kinetic Partners (Luxembourg) Management Company can provide a fully-fledged service offering to asset managers who are seeking to distribute funds across Europe or who are required to outsource AIFM
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