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Sapient Global Markets has become a certified implementation partner of the European Energy Exchange (EEX) to facilitate regulatory reporting in the European energy wholesale markets.
Sapient Global Markets and the EEX will work together to help firms comply with new wholesale energy market reporting requirements to the Agency for the Cooperation of Energy Regulators (ACER), which was mandated by the Regulation on Energy Market Integrity and Transparency (REMIT).
REMIT requires wholesale energy market participants to disclose insider information relevant for pricing in power and natural gas trading. The rules were designed to prevent market abuse and reinforce the
NYSE Euronext has reported net income of USD173m, or USD0.71 per diluted share on a GAAP basis, for the second quarter of 2013, compared to net income of USD125m, or USD0.49 per diluted share, for the second quarter of 2012.
Results for the second quarter of 2013 and 2012 included USD22m and USD12m, respectively, of pre-tax merger expenses and exit costs.
Second quarter 2013 results also included a USD10m gain recorded for non-operating items due to the sale of a portion of its equity stake in LCH.Clearnet and a reserve release related to a favourable settlement with certain European
Range-bound volatility creates challenging market conditions for US options traders, forcing them into a more aggressive stance in a search for returns, says TABB Group in its seventh annual benchmark options trading study.
This is driving traders to refine their strategies by using options with more precise strike prices, looking for new opportunities and adjusting expectations to encompass a new environment with lower returns.
“It has become more difficult to find a profitable edge in options markets,” says Andy Nybo, TABB’s head of derivatives research and author of “US Options Trading 2013: Looking for the Edge.”
Not
The first phase of CBOE Futures Exchange’s plans to expand CBOE Volatility Index (VIX index) futures trading hours will begin in late September, with the second phase to begin in the weeks that follow.
The first phase of the expanded trading hours initiative is designed to meet demand from US customers for a post-settlement trading period by adding a 45-minute trading session to the current trading hours for VIX futures (7:00 am CT to 3:15 pm CT).
Fifteen minutes after the 3:15 pm CT close of VIX futures, the market will reopen for a new trading period from
Russian bank Gazprombank has appointed Rustam Mursalimov as an equity portfolio manager at Gazprombank Asset Management.
He holds the position of director and took up the role on 19 July.
Before joining Gazprombank, Mursalimov was an equity portfolio manager at DEKA Asset Management in Germany and responsible for the firm’s investments in Russia, Turkey, and Eastern Europe as part of DEKA’s emerging Europe team.
Aylin Suntay, head of Gazprombank Asset Management, says: "Gazprombank is extremely pleased to have recruited such an experienced international investment manager to further strengthen our portfolio management team. Rustam’s experience across broader emerging
Fortress Investment Group has closed the Fortress MSR Opportunities Fund II at its cap of USD1.1bn.
MSR Fund II is a successor fund to the Fortress MSR Opportunities Fund I, which closed in August 2012 with USD608m in total commitments.
Fortress’s MSR Opportunities Funds are focused on investments in residential mortgage servicing rights (MSRs). An MSR represents the contractual monthly fee paid in exchange for the servicing of a mortgage loan, net of a basic servicing fee.
Fortress and its affiliates have been among the most active investors in the MSR space over the past two years,
Linedata has launched the Linedata Compliance Managed Service to address the complexity of global hedge fund regulations by incorporating rule monitoring across different geographies and jurisdictions.
Post-crisis, regulations cast a far wider net than traditionally highly regulated sectors, and as a consequence hedge funds have found they must confront the new wave of operational due-diligence and regulatory measures. Accurate and timely reporting as well as transparency have been propelled into the spotlight, not only by the regulator but also by investors, who are stepping up their due diligence when it comes to selection and redemption criteria.
In order
Aquis Exchange, the proposed pan-European stock exchange, will allow its members to access its trading platform via the BT Radianz Cloud.
The BT Radianz Cloud — the largest secure networked financial community in the world — helps financial market participants globally to exchange market information, trade with each other and clear and settle transactions.
Under the new agreement, BT will not only be Aquis Exchange’s preferred cloud connectivity supplier, but the exchange’s services will now be accessible to the thousands of members of the BT Radianz Cloud community globally.
In addition, Aquis Exchange members can use
GLG Partners, the discretionary investment manager of Man Group, is to launch the GLG Total Return Fund.
Available to investors from 29 July, the absolute return strategy will be managed by the macro and relative value (MARV) team, headed up by Jamil Baz and Sudi Mariappa. Strategic calls will be made by an investment committee, chaired by Baz, while James Ind, who recently joined GLG from Russell Investments, will be responsible for ongoing portfolio management.
Leveraging GLG’s dedicated expertise in fundamental, quantitative and market analysis, the UK-domiciled UCITS fund will invest across a highly diversified range of liquid asset
Carne Group, a provider of governance solutions to the global fund management industry, is expanding its Cayman Islands office with the appointment of Vanessa Barrett to its team of independent fund directors.
Barrett, a fund director who has worked in the hedge funds industry for over 12 years, is a Fellow of the Institute of Chartered Accountants in Ireland and has worked with Ernst & Young and UBS in several jurisdictions, including Bermuda, the Cayman Islands, the UK and the US. She has served as a director on Cayman Islands funds since 2010 and has extensive experience at senior
