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The board of the Channel Islands Stock Exchange (CISX) has appointed Jon Moulton as director and chairman.
He takes over from interim chairman Graham Hall, who remains on the board and will temporarily assist to ensure an effective handover.
Moulton (pictured) is a non-executive chairman of FinnCap, the stockbroker. A chartered accountant, a corporate financier and a fellow of the Institute for Turnaround Professionals, Moulton is chairman of Better Capital and chairman of Aurigny Group. He is a trustee of the UK Stem Cell Foundation and an active angel investor. He is a director of the UK Government
Connecticut-based hedge fund advisory firm Level Global Investors has agreed to pay more than USD21.5m to settle Securities and Exchange Commission (SEC) charges that its co-founder, who also served as a portfolio manager, and its analyst engaged in repeated insider trading in the securities of Dell and Nvidia.
In January 2012, the SEC filed insider trading charges against Level Global, the firm’s co-founder Anthony Chiasson, a former analyst Spyridon "Sam" Adondakis, and six other defendants, including five investment professionals and the hedge fund advisory firm Diamondback Capital Management.
The SEC’s complaint, filed in federal court in Manhattan, alleged
The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight has issued a time-limited no-action letter that provides swap dealers with relief from certain External Business Conduct Standards rules in the context of prime brokerage arrangements.
The relief provided in the no-action letter is applicable to all swap dealers, subject to the conditions and limitations set forth in the letter.
Palmer Square Capital Management, an investment management firm that provides portfolios of structured credit, collateralised loan obligations and hedge fund strategies, has appointed Jeffrey Fox as executive director.
Reporting to Angie Long, Palmer Square’s chief investment officer, Fox’s primary focus will be on managing the analytics, trading and modelling behind the firm’s structured credit and CLO platform. He will also play a key role in new product development and working with the rating agencies.
Fox draws upon more than a decade of fixed income experience, most recently serving as a managing director at Sandler O’Neill and Partners, where
Outsourcing FATCA reporting function overcomes scalability issue for managers. “The reason firms should start early with FATCA is that until you have gone through the process of data mining and figuring out all the details on your investors, you really do not know the depth of the work that is required in order to be compliant,” asserts Michael Megaw (pictured), managing director at SS&C GlobeOp, one of the industry’s leading independent fund administrators.
At a high-level, FATCA is weeding out anyone using banks, institutions, alternative investment vehicles etc, to help them get around having to pay US tax. What this means
Paladyne Systems has secured the rights to the source code, development rights and unlimited distribution rights for the Numerix Portfolio Risk product.
Paladyne has hired the Toronto- and Hong Kong-based development teams that built and support the product. This represents a major enhancement to the Paladyne investment management platform and to Broadridge’s global brokerage offering.
Paladyne has completed the integration of Numerix Portfolio Risk into its front-office solutions. OMS, portfolio accounting, risk management and hosting are now provided in a single platform.
The platform-agnostic risk solution is designed for virtually all asset classes and is integrated with the
Liquidnet, the institutional trading network, is continuing its expansion in high-growth markets by enabling institutional investors to trade securities listed in Thailand.
The Thailand launch is the 42nd market globally for Liquidnet and the 10th market in Asia Pacific, further boosting the number of investment opportunities available for more than 740 of the world’s asset management firms.
The launch comes amid growing demand from Liquidnet members to invest in dynamic emerging markets in Southeast Asia and source liquidity they need on a large scale.
Lee Porter (pictured), head of Asia Pacific for Liquidnet, says: “Liquidnet is helping upgrade
Rakuten Securities has joined Singapore Exchange (SGX) as a trading member of its derivatives market.
Chew Sutat, head of sales and clients at SGX, says: “We are pleased that Rakuten Securities, a major online brokerage in Japan, has joined our derivatives market. Coming from Asia’s second-biggest economy where there is a large pool of investors and companies interested in the region, Rakuten will add value to SGX’s derivatives community by enhancing awareness and distribution of our derivatives products.”
Yuji Kusunoki, president at Rakuten Securities, says: "We are very delighted to be a trading member of SGX. As a major
Singapore-based Armstrong Asset Management has appointed Yasushi Ujioka as investment director.
Uijoka has 17 years’ experience as an engineer and investment professional in the water, power generation and energy efficiency sectors across Europe and Asia.
Ujioka will be directly involved in the newly established USD150m Armstrong South East Asia Clean Energy Fund which is set for final close in August 2013. He will have co-responsibility for deal management and origination across the Southeast Asia with a primary focus on Indonesia and will also lead the firm’s investment in the resource efficiency sector.
“As Armstrong’s investment strategy is
Conning, a provider of asset management services for the insurance industry, and Ramius Alternative Solutions LLC (RASL), which develops and manages customised alternative investment portfolios, have entered into a strategic alliance.
The two firms are jointly developing a variety of alternative investment strategies to meet the specific needs of insurance companies.
Conning and RASL believe that certain strategies traditionally employed by hedge funds may enhance the risk-adjusted returns and diversification of institutional portfolios. Many insurers, however, have avoided direct investments in hedge funds due to concerns about high capital charges and high fees, as well as the lack
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