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Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
Both parties signed a memorandum of understanding (MOU) on 2 December 2013 in Shenzhen, China. This MOU will jointly explore areas of cooperation which include information sharing, training and regular meetings on developments in each other’s markets.
“The CFA has been committed to establishing a platform for members to communicate with overseas exchanges. As a long-time partner of Chinese futures industry, SGX has extensive and proven experience in developing new futures products and OTC derivatives market, which is
JTC Group has acquired the fund administration business of the Guernsey-based Anson Group.
Anson Fund Managers Limited (AFML) represents over GBP11.5bn in funds under administration and specialises in providing a wide range of support services to companies and funds.
Its clients include trading companies, open ended and closed ended funds and unit trusts, investment companies and limited partnerships, many of which are listed on stock exchanges such as the LSE, Euronext and AIM.
In addition to working for many London listed companies including FTSE 350 members, it acts for a third of companies listed on the London Specialist
SMT Fund Services (Ireland) Limited has appointed Kii Hub to produce and deliver Key Investor Information Documents (KIIDs) for its established platform of UCITS funds.
This extends the relationship that already exists with SuMi TRUST Global Asset Services, as Kii Hub has been producing KIIDs for the funds managed by SuMi TRUST’s UK ACD company, SMT Fund Services (UK) Limited, since 2012.
SuMi TRUST will be using Kii Hub’s full bureau service, which includes drafting, production, hosting and translation of all their KIIDs.
Peter Ward, who manages SMT Fund Services (Ireland) Limited’s management company services, says: “While our
Phaunos Timber Fund has reached agreement by mutual consent to terminate its investment management agreement with FourWinds Capital Management with immediate effect.
The company has established a new subsidiary, Phaunos Boston, through which it intends to manage its assets.
The majority of the employees of the FourWinds Capital Management group (the FWCM Group) who have been responsible to date for the day to day management of the company’s portfolio of assets will be offered employment with Phaunos Boston with immediate effect.
The subsidiary will initially be led by Mason Browne, formerly director of timber operations at FourWinds. Property
By Anthony Masso, CEO, Succession Systems – The SEC Enforcement Order against Knight Capital calls for Brokers to institute fully automated ‘lock downs’, prohibiting orders from entering the market if risk thresholds are reached. Called ‘kill switches’, are you aware of the conditions that could trigger a lock down and how it would affect your orders and position?
Implementing ‘reasonable’ trading controls
The first SEC enforcement action of the Market Access Rule 15c3-5, was issued last month against Knight Capital. The rule, also known as the Naked Access Rule, was adopted in 2010. It is written broadly, asking
The European Securities and Markets Authority (ESMA) has approved ICE Trade Vault Europe as a trade repository for the reporting of swaps and futures trade data to meet requirements of the European Market Infrastructure Regulation (EMIR).
ICE Trade Vault Europe was approved to collect trade data in the commodities, credit, interest rate and equity derivatives asset classes, and joins ICE Trade Vault US as well as planned ICE repository services in Asia and Australia.
Unique to EMIR, European trade data reporting also will encompass exchange-traded derivatives (ETDs).
“We appreciate ESMA’s detailed and comprehensive application process for trade repository
BNP Paribas Securities Services has been mandated by Hwang Investment Management, Malaysia’s largest independent asset manager, to provide services to four UCITS funds reported assetservicingtimes.com this week.
HwangIM has appointed BNP Paribas for global custody of their flagship Asian Series portfolio, which is expected to launch in January 2014, as well as fund administration, transfer agency, investment risk and performance reporting and trustee services.
Distributors have access to trade services and local support during Asian working hours via BNP Paribas’ Singapore window, while the bank’s local team leads the client service relationship. Esther Thye, chief sales officer at Hwang Investment
Financial information services company Markit has been selected by members of the Asia Securities Industry and Financial Markets Association (ASIFMA) to provide an online solution to facilitate compliance with Hong Kong’s Securities and Futures Commission’s (SFC) new electronic trading rules.
The new rules take effect on 1 January 2014 and require Hong Kong-licensed brokers to attest that their electronic trading systems are properly supervised, tested and risk managed.
The rules also require customers to acknowledge that they understand the algorithms and other technologies used by their brokers.
Markit will use its Counterparty Manager technology to provide a solution
Universal-Investment and London-based fund manager Stratton Street have launched the Stratton Street UCITS Renminbi Bond Fund UI.
This new UCITS fund follows the Renminbi Bond Fund managed since 2007 by Stratton Street.
The original strategy was set up before the offshore CNH or “dim sum” bond market, and has not yet invested in those bonds as they are illiquid and expensive. Instead at present the fund invests in high quality investment grade Asian bonds and uses currency hedges to gain renminbi exposure.
The original fund has had positive returns every year since launch, and a total return of
Archer Daniels Midland Company (ADM) is ‘disappointed’ with the Australian Federal Treasurer’s decision to prohibit ADM’s proposed acquisition of GrainCorp Limited (ASX:GNC).
“We are disappointed by this decision. We are confident that our acquisition of GrainCorp would have created value for shareholders of ADM and GrainCorp, as well as grain growers and the Australian economy,” says ADM Chairman and CEO Patricia Woertz. “Throughout this process, we worked constructively to create an arrangement that would be in Australia’s best interests and made substantial commitments to address issues that were important to stakeholders,”
Woertz has confirmed there were no conditions or undertakings
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