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Over the last 18 months, Calamatta Cuschieri Fund Services (CCFS) has seen the number of funds it administers grow steadily as the Mediterranean island continues to attract a fair deal of new business, enticing both start-up & seasoned fund managers. Michael Galea, CCFS’s Head explains that the influx of interest extends across a wide range of strategies from plain vanilla long-only strategies through to fund-of-funds and high frequency trading strategies involving derivatives.
“We have a good mix of funds on our books. A majority of these are Professional Investor Funds (PIFs) but we also administer retail funds, including our proprietary funds, which are sold under the UCITS regime,” says Galea.
By Dr Kurt Hyzler, CSB Advocates – Malta recently reinforced its position as a progressive hedge fund jurisdiction within the EU when, on 27th June 2013, the Malta Financial Services Authority (MFSA) announced that it was the first member state to have fully transposed the Alternative Investment Fund Management Directive (“AIFMD / Directive”) into Maltese law.
During the implementation process, one of the dilemmas faced by the MFSA was the viability of retaining the Professional Investor Fund (“PIF”) regime which, as at the end of 2012, accounted for more than 84% of all collective investment schemes licenced in Malta. Mindful
Traiana and MarketAxess SEF have completed the first live credit default swap (CDS) index trade using Traiana’s CreditLink service as the credit hub to verify pre-trade credit limits.
JP Morgan acted as the clearing member for the major buy-side participant on the trade.
Under the Commodity Futures Trading Commission’s (CFTC) swap execution facility (SEF) rules a clearing member must carry out pre-trade credit checks on trades prior to execution. CreditLink acts as a centralised hub and provides trading platforms, clearers/prime brokers, executing banks and buy-side firms the ability to monitor and manage pre- and post-trade credit in real-time
International law firm Simmons & Simmons is the latest big name to join the list of confirmed speakers at The Debt Forum event in London on 13 November 2013.
Other confirmed speakers at the event include Carlyle Group, KKR Asset Management, Man Group, Ares Capital, Legal & General, Clifford Chance, Blue Bay Asset Management and BNY Mellon.
Sponsored by BNP Paribas, this inaugural event for Europe’s CLO and Direct Lending Sector will feature extensive coverage on how the European CLO landscape is changing, assessing the issuance pipeline in 2013, outlook for issuance in 2014, structural and legal considerations, ratings methodology
FIX Trading Community has published recommended guidelines for the efficient electronic communication of client entitlement information between broker-dealers and the emerging swap execution facilities (SEFs).
The guidelines explain how the currently manual business process that will be required to transfer details about client relationships and their associated permissions can be carried out in an electronic, automated and standardised manner, presenting the potential to reduce operational risk and generate considerable efficiency gains and cost savings.
As regulatory efforts such as the US Dodd-Frank Act and the EU’s MiFID II seek to increase market stability, the structure of the OTC
The Goldman Sachs Group, Inc’s multi-disciplinary hedge fund unit – Goldman Sachs Investment Partners – has launched a new hedge fund in Asia named Oryza Capital. Goldman Sachs is at present raising capital for the fund. Through this new fund, the bank primarily seeks to tap rising opportunities in the emerging markets of Asia.
Oryza Capital came into being earlier this month, and is a long/short equity fund, which invests in Asia – including Japan – as well as Australia. The fund is managed by Goldman Sachs Investment Partners’ Asia co-heads, Hideki Kinuhata and Ryan Thall.
Asia’s economic growth has
Fixed income investment firm Brownstone Investment Group has opened an office in San Francisco.
This is the firm’s third office nationwide and first on the west coast.
Brownstone’s trading division specialises in high yield, investment grade, emerging markets, distressed corporate, and municipal fixed income securities. The firm actively trades with a broad customer base, including hundreds of broker-dealers, banks, institutions, and registered investment advisors.
The firm’s new San Francisco office will be led by Peter Campfield and Charles Grosso, each of whom brings over 15 years of experience within fixed income trading and sales. They will be
The US Securities and Exchange Commission (SEC) has settled its action against Oregon-based hedge fund manager Yusaf Jawed, who masterminded a USD30m Ponzi scheme.
Final judgments have been entered against Jawed and his two entities, Grifphon Asset Management and Grifphon Holdings, which enjoin them from future violations and order them to pay disgorgement and interest of USD33,909,974.
The Commission’s previously filed complaint alleged that Jawed through the two entities he controlled masterminded a long-running, USD30m-plus Ponzi scheme that defrauded more than 100 investors in the Pacific Northwest and across the country.
Based on the final judgment against
The US Commodity Futures Trading Commission (CFTC) has approved the applications of tpSEF and Tradition SEF for temporary registration as swap execution facilities (SEFs).
tpSEF and Tradition SEF’s applications for temporary registration as SEFs were approved by the Commission on 24 and 25 September, respectively.
tpSEF is a Delaware corporation and is a wholly-owned subsidiary of Tullet Prebon Americas Corp.
Tradition SEF is a Delaware limited liability company and is a wholly-owned subsidiary of Compagnie Financiere Tradition SA, a Switzerland corporation.
A SEF is a category of CFTC registered entities created by the Dodd-Frank Wall Street
The Commodity Futures Trading Commission (CFTC) has granted temporary registration of Tullett Prebon’s swap execution facility (SEF), tpSEF Inc.
tpSEF is headquartered in New Jersey and is a wholly owned subsidiary of Tullett Prebon. It has been established to ensure the company’s compliance with Dodd-Frank legislation, enacted on 21 July 2010.
Tullett Prebon’s SEF is a multi-asset SEF which will offer SEF compliant execution services in the five asset classes covered under Dodd-Frank legislation. The SEF will use Tullett Prebon’s electronic broking platforms: tpSWAPDEAL and tpMATCH for rates; tpCREDITDEAL for credit indices; tpFORWARD DEAL, tpMATCH NDF and tpMATCH
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