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“Our philosophy is to try and assist our clients to meet the requirements of the Directive with minimum cost and minimum disruption,” states Des Pierce (pictured), Director of Strategic Markets at SS&C GlobeOp, in reference to the upcoming AIFM Directive, due to go live on 22 July 2013.
At the heart of the Directive is the enhancement of investor protection and transparency of alternative investments. Whilst there is already a degree of oversight on European-domiciled funds, the Directive goes beyond the requirements currently in place and, indeed, beyond what is currently in place for UCITS funds. Offshore funds that previously
The Australian government has granted LCH.Clearnet an extension to its existing clearing and settlement facility licence enabling it to offer its SwapClear OTC interest rate swap clearing service directly to Australian banks.
As members of SwapClear, Australian banks will now be able to participate alongside international clearing members, enabling them to mitigate counterparty risk through clearing and realise greater portfolio netting efficiencies.
International banks operating in Australia are already actively clearing interest rate swaps through SwapClear and now, as a result of this licence, Australian banks will be able to join them as direct clearing members, subject to
Jersey is responsible for inward investment of almost GBP500bn into the UK and supports around 180,000 jobs, according to a report published by independent firm Capital Economics.
The new work comes at a time of increasing focus on the relationship between the UK and the so-called Crown Dependency islands of Jersey, Guernsey and the Isle of Man, all of which offer international financial services across a range of banking, fund, private wealth and capital market activities.
The report, entitled “Jersey’s Value to Britain”, provides an analysis of the relationship between Jersey’s economy and that of the UK.
Abel/Noser Solutions (ANS) has released its annual Global Broker Performance Study, which ranks global brokerage firms on their ability to demonstrate best execution for clients and includes a breakdown of the top brokers in the North American, European and Asian Pacific regions.
For the second year in a row, Liquidnet edged out traditional firms in both the global and North American rankings, with Morgan Stanley coming in second. Crédit Agricole and Macquaire Securities lead the European and Asia-Pacific rankings.
The study evaluates brokers using placement strike price results that reflect the moment when the broker first received instructions
EY has appointed Mark Weinberger as Global Chairman and CEO. The professional services organisation also announced the adoption of EY as its global brand name, unveiled a new logo and adopted ‘building a better working world’ as its purpose.
Weinberger, 51, has had a distinguished career with a track record of leadership both inside and outside of EY. He has previously served as the Global and Americas Head of Tax and on the Global and Americas Executive. He has been a senior advisory partner for many of EY’s largest clients and also served on the Global Markets Executive and Global
Deutsche Börse is to launch a trading venue for outsourced storage and computing capacity – so called “cloud computing” resources – in early 2014.
Deutsche Börse Cloud Exchange is a new joint venture formed together with Berlin-based Zimory to create the first neutral, secure and transparent trading venue for cloud computing resources.
The primary users for the new trading venue will be companies, public sector agencies and also organisations such as research institutes that need additional storage and computing resources, or have excess capacity that they want to offer on the market.
“With its great expertise in
The London Metal Exchange (LME) has launched a consultation on a proposal designed to cut warehouse queues.
The proposal presented to the market today suggests a way to both cut existing queues and prevent new queues from forming.
The proposal only targets warehouses with queues of more than 100 calendar days. These warehouses would be subject to new requirements to ensure that they deliver out more metal than they take in.
"We appreciate the market’s concerns on the current length of warehouse queues and have already brought in a series of measures to address the situation," says
Almost three quarters of hedge fund investors rank a fund’s compliance and regulatory framework as the top priority for 2013, according to Deutsche Bank’s Hedge Fund Consulting Group’s second annual operational due diligence survey.
The survey polled investors globally representing over USD2.13trn of total assets, with a hedge fund allocation in excess of USD724bn.
Operational due diligence has continued to grow in importance and an overwhelming 70% of ODD teams now have explicit veto authority in the investment decision making process, which was exercised in almost 10% of manager reviews. In a further sign of the influence ODD teams
Tradeweb Markets, a provider of fixed income marketplaces, has seen a 34 per cent year-on-year increase in trade volume for European government bonds in the first half of 2013, and 31 per cent growth for European cash credit volume during the same period.
Asset managers and other institutional investors have been executing more government and corporate bond business on electronic platforms over the past several months. Tradeweb estimates approximately 50 per cent of dealer-to-customer European government and cash credit bond volume is now traded electronically. The growth of e-trading in European credit markets has been particularly rapid –
The world may not get pneumonia when the US gets a cold, but it sure gets sick, says Howard Silverblatt, senior index analyst at S&P Dow Jones Indices…
June was anything but boring, as the month started with all eyes on Japan and ended with them watching the US. In Japan, prospects for growth via new stimulus created rapid gains in the market (and a declining yen), which eventually came into conflict with reality caused by too much expectation too fast. However, after some pullback, Japan managed to side with growth (and a weaker yen), posting the best result of any market
