Latest News
More and more traders are discovering the capital savings they can receive by trading Swap Spreads using a CME-cleared Interest Rate Swap and CME Treasury Futures – a popular example of this is the "Invoice Swap" or "Invoice Spread".
These swaps may eliminate a substantial portion of Dodd-Frank margin costs. To find out how to implement this trade and unlock potential savings, read our brief paper on how it works.
Amanda Rowland, partner and head of asset management regulation at PwC commenting on the announcements made at the 2013 FCA asset management conference that took place on 30 October…
No-one in the asset management industry should be surprised at the FCA's focus on the use of dealing commissions. But today the FCA has extended its work to include banks and brokers as well as buy-side firms. Given these institutions have been less involved in the debate on dealing commissions to date, this is likely to cause a stir amongst some firms.
On fund charges, the FCA may focus less on
The Commodity Futures Trading Commission (CFTC) has approved an order granting limited purpose swap dealer (SD) designations to Cargill Incorporated and an affiliate, Cargill Financial Services International.
This is the first time that limited purpose SD designations have been granted.
Limited purpose designations involve circumstances in which the Commission, by order, designates a person as an SD for one type, class or category of swap or activities without the person being considered an SD for other types, classes, categories or activities. The Commission’s authority to grant limited purpose SD designations derives from Section 1a(49)(B) of the Commodity Exchange Act (CEA),
US domiciled money market funds' (MMFs) assets under management (AUM) increased 4.3 per cent to USD667bn in Q3, despite political uncertainty over the US debt ceiling, says Moody's Investors Service in a new report.
Euro MMFs saw a modest 1.2 per cent increase in AUM after reaching their lowest level in 12 months in June, while Sterling MMFs experienced a 1.9 per cent drop in AUM.
Euro MMFs' exposure to European financial institutions remained stable, albeit with significant shifts in country allocation. US MMFs boosted their exposure to Swedish and French banks by 27 per cent and 16 per
Maxim Group, a full service investment banking and brokerage firm providing services to hedge funds, investment advisors, family offices and high net worth individuals, has selected SunGard’s VPM.
Now live, the solution helps Maxim Group better service its clients by providing advanced portfolio accounting and reporting capabilities, which helps promote smarter operations within its investment management and operations functions.
Maxim Group’s integration of VPM and its clearing firms’ data provides a scalable solution with minimal reconciliation overhead. VPM physically stores all of Maxim Group’s investment activity to help enable the firm to have more accurate information, transparency into data
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 Andrew Frongello as director of learning and development.
In this role, Frongello will be responsible for coordinating BI-SAM's client training programmes.
Frongello is a performance analysis and risk management expert, with 15 years' experience in investment management performance. Creator of the "Frongello Method" for linking single period arithmetic attribution results, he has published many papers in the Journal of Performance Measurement, and was a contributing author of the CFA Institute's CIPM performance designation exams.
Frongello
Eze Castle Integration, a provider of IT solutions and private cloud services to hedge funds and alternative investment firms, has released the next generation of its Eze Disaster Recovery (Eze DR) service.
The new version of Eze DR features advanced technology to deliver more aggressive Recover Time Objectives (RTO) and Recovery Point Objectives (RPO) and enhanced testing to ensure clients can resume operations after a disaster.
Eze DR is a fully managed disaster recovery solution used by hedge funds around the world. The newest version incorporates hypervisor-based replication technology to replicate, in near real-time, a client’s virtual production environment
The Channel Islands Stock Exchange (CISX) is planning to restructure.
Jon Moulton (pictured), chairman of the CISX, says the exchange is seeking to introduce a new and improved operating model in around a month's time.
Fiona Le Poidevin, chief executive of Guernsey Finance, says: “Clients should have confidence that the team at the CISX will not only evolve the exchange in such a way that serves the investment community very well going forward but also that service standards remain of the highest quality in the intervening period. It is positive that the CISX is ensuring business continuity and we will
Opus Fund Services is offering clients a solution for compliance with the Foreign Account Tax Compliance Act (FATCA).
The solution will be delivered by the FATCA Service Bureau, a joint service from Markit and Compliance Technologies International (CTI).
FATCA requires non-US foreign financial institutions (FFIs) and non-US non-financial entities to identify and disclose their US account holders and members. To avoid penalties from the US Internal Revenue Service, funds must identify their investors more thoroughly, even if they hold only non-US bank and securities accounts. It is estimated that the law will impact over 300,000 financial institutions and their
Chicago Board Options Exchange is to list a Mini-SPX Index option (XSP) contract with a new PM-settlement feature beginning on 5 November.
CBOE's Mini-SPX Index options are one-tenth the value of the S&P 500 Index options (SPX), which are based on the premier benchmark of the broader US market.
The PM-settlement is preferred by many investors, including institutions that have end-of-day reporting requirements. PM-settlement, also used for single-stock and ETF options, allows investors to trade in and out of positions easily on settlement day.
Unlike Standard & Poor's Depositary Receipt (SPY) options and other ETF options, Mini-SPX Index
