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CME Group has received approval from the European Securities and Markets Authority (ESMA) as a trade repository (TR) under the European Market Infrastructure Regulation (EMIR).
CME Group's multi-asset European (EU) trade repository, based in London, will accept submission of trades across all mandated derivative asset classes namely interest rates, FX, credit, commodities and equities.
It will accept cleared and non-cleared, bilaterally settled, over the counter and exchange-traded derivatives executed on venues anywhere in the world. The reported data will be made available to the reporting entity itself, as well as relevant regulators, supervisors and authorities.
"Trade reporting of
BofA Merrill Lynch and Goldman Sachs have become clearing members of EurexOTC Clear for Interest Rate Swaps (IRS).
By joining this new central counterparty (CCP) for over-the-counter (OTC) derivatives, the clearing members and their clients will be able to expand their preparations for the impending OTC clearing obligations in Europe.
Brooks Stevens, managing director, EMEA head of futures & options and OTC clearing at BofA Merrill Lynch says: “We are committed to offering a market leading clearing solution. EurexOTC Clear provides an additional choice to take advantage of the efficiencies clearing brings, particularly when mandated clearing of OTC products
Carne has appointed Laren Gillespie to its team of Cayman Islands independent fund directors.
Gillespie previously worked at Intertrust Fund Services in the Cayman Islands, where he provided independent fund directorship services to hedge funds, private equity funds and investment management structures.
Prior to joining Walkers Fund Services in the Cayman Islands (which was acquired by the Intertrust Group in July 2012) Gillespie worked with a private family office and an international financial services firm based in the Cayman Islands where he implemented risk monitoring programmes and was also a member of the investment committee.
Prior to moving
According to independent data provider Eurekahedge in its latest report on the state of the world’s hedge fund industry, hedge fund assets under management were up in October, after a positive September. The size of the industry is now USD1.97 trillion.
Perhaps more heartening, the additions to AUM in October weren’t (mostly) from inflow. Roughly 95 per cent of the increase was from performance.
Both Europe and Asia ex-Japan attracted capital during the month whilst Japan was flat and the Americas saw a net outflow. Globally, October was the fourth consecutive month of net positive inflow.
Looking at
Rather than increase transparency, the latest proposals to restrict dark trading at four and eight per cent have the potential to create greater opacity as well as seriously impact institutional investors’ ability to execute order flow.
Drawing on new research from TABB Group Europe, 86 per cent of investors say they have serious concerns regarding the introduction of volume cap proposals with the vast majority anticipate being forced to return to more traditional forms of execution.
According to TABB’s senior research analyst Rebecca Healey in London, who wrote “European Dark Trading: A Question of Clarity,” the recent decline in
By Jose Santos, Partner, and Karen Gilbert, Senior Associate, Forbes Hare – BVI companies are listed on most of the major public exchanges of the world, including NYSE, AIM, LSE, TSX, NASDAQ, HKSE, and are attractive as listing vehicles in a variety of geographical markets and business sectors such as mining, pharmaceuticals, real estate, oil and gas.
In particular, over the last decade, BVI companies have been frequently incorporated as special purpose acquisition companies (SPACs) focused on acquiring targets in emerging markets, the use of which is now on the rise again following an extended period of limited activity.
What
Chicago Board Options Exchange has created a new benchmark volatility index – the CBOE Mid-Term Volatility Index (VXMT).
The index is a measure of the expected volatility of the S&P 500 Index over a six-month time horizon.
The index is calculated using the CBOE Volatility Index (VIX Index) methodology, applied to S&P 500 Index (SPX) options that expire six to nine months in the future.
As investors become more sophisticated in their understanding of volatility and their use of volatility products, the VXMT index offers a "macro" view of market risk, a view driven more by the perceived
Traiana, a provider of pre-trade risk and post-trade processing solutions, has launched a Unique Trade Identifier (UTI) management solution using the Harmony network.
As each jurisdiction introduces its own specific trade reporting requirements and UTI methodology, the management and sharing of trade identifiers with counterparts is becoming more complex.
The Traiana UTI management service facilitates the exchange of UTIs between counterparts, thereby allowing both parties to a trade to report using a common trade identifier, to the same or different trade repositories.
Reporting using the same trade identifier is the responsibility of both sides of the trade and
Aquis Exchange, the pan-European equities trading exchange, has completed its first day of live operations, executing trades in all three of the markets available at launch.
Aquis Exchange, which has introduced subscription pricing to European equities trading, saw several members participate on launch day and trades were executed in a range of blue chip stocks from the UK, France and the Netherlands.
Aquis Exchange chief executive Alasdair Haynes (pictured) says: “It has taken us 13 months from announcing the concept of Aquis Exchange to going live. We are very pleased to have built a highly performant platform, gained regulatory
Chicago Board Options Exchange (CBOE) is to list options on the CBOE Russell 2000 Volatility Index (RVX) beginning 3 December.
The CBOE Russell 2000 Volatility Index (RVX Index) is an up-to-the-minute market estimate of the expected 30-day volatility of the Russell 2000 Index (RUT), calculated using real-time bid/ask quotes of RUT options that are listed on CBOE.
The calculation of the RVX Index is based on the CBOE Volatility Index (VIX Index) methodology applied to RUT options, the third most actively traded index option at CBOE in the first half of 2013.
RUT is a performance of small-capitalisation
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