Latest News
Citi has expanded its Citi OpenInvestor suite of investment services to include Segregated Collateral Custody Accounts that help clients better mitigate counterparty risk, provide asset safety and improve collateral efficiency.
This new capability adds to Citi’s existing agency collateral management service, OpenCollateral. Responding to emerging regulatory requirements, the new service helps its clients to support new requirements under Dodd-Frank and European Market Infrastructure Regulation (EMIR) rules.
“The possibility that every OTC relationship may need collateral accounts under new regulations has driven client demand for more efficient solutions,” says Chandresh Iyer, managing director, investor services, Citi. “These services draw
ICAP, an interdealer broker and provider of post trade risk and information services, has released its analysis of the potential impact of implementing a financial transactions tax (FTT).
Eleven countries have provisionally agreed to introduce a tax on financial transactions with the stated objective of raising public finances and reducing risk taking. ICAP believes the FTT would:
– Have a negative effect on the real economies of the FTT zone
– Significantly increase funding costs for government and corporates, in particular those in the FTT zone
– Run counter to EU Treaty freedoms
– Increase systemic risk
–
Hedge funds extended gains in March to conclude the first quarter of 2013 at record levels, tracking US equity performance, which also advanced to close the quarter at new highs.
The HFRI Fund Weighted Composite Index gained 1.2 per cent in March bringing the 1Q13 gain to 3.9 per cent, with top contributions from fixed income-based relative value arbitrage and equity hedge and strategies, as reported by HFR.
The HFRI Fund Weighted Composite Index closed 1Q13 with a net asset value (NAV) of 11,482, surpassing the previous peak set in April 2011, concluding a 20-month drawdown in 1Q and creating
Lyxor Asset Management this week announced the lauch of the Lyxor/Canyon Credit Strategy Fund, a UCITS-compliant fund designed to provide investors with access to Canyon Capital Advisors LLC’s event driven and credit-oriented strategies across a variety of asset classes. It is the first UCITS strategy of its kind to feature on Lyxor’s Alternative UCITS Platform.
The fund offers both diversified and differentiated exposure. With respect to diversified exposure, the fund has the ability to invest in certain special situation securities such as select liquidations, high yield and distressed corporate bonds, equities, convertibles and agency residential mortgage-backed securities.
Canyon was
The Lyxor Hedge Fund Index was up 0.62 per cent in March, bringing year-to-date performance to 2.36 per cent.
A total of 10 Lyxor Strategy Indices out of 14 ended the month in positive territory, led by the Lyxor Special Situations Index (2.09 per cent), the Lyxor L/S Equity Long Bias (1.41 per cent) and the Lyxor Merger Arbitrage Index (1.14 per cent).
March was dominated by political turmoil in Italy and the spectre of a bank run in Cyprus. These events are signs that the European debt crisis is far away from being solved. On the other
As managers and investors look for fund domiciles with a focus on quality, Fiona Le Poidevin (pictured), Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry, explores how Guernsey is well positioned to meet these evolving needs.
There is an ever growing awareness among investors and promoters of the importance of looking towards jurisdictions with quality service provision, strong corporate governance and robust regulation. This change in emphasis and focus on improved standards – accelerated by the global financial crisis in 2008 – was long overdue, but has thankfully been to Guernsey’s advantage as we
NYSE Euronext global derivatives average daily volume (ADV) in March 2013 of 8.1 million contracts was in line with March 2012, and represented a decrease of 7.8 per cent from February 2013 levels.
NYSE Euronext European derivatives products ADV in March 2013 of 4.3 million contracts increased 8.9 per cent compared to March 2012, but decreased 2.8 per cent from February 2013 levels.
Excluding Bclear, NYSE Liffe’s trade administration and clearing service for OTC products, European derivatives products ADV increased 21.4 per cent compared to March 2012, but decreased 6.7 per cent from February 2013.
NYSE Euronext
San Francisco 49ers chief executive Jed York, players, coaches, alumni and cheerleaders will attend the 12th Annual San Francisco “Open Your Heart to the Children” benefit organised by Hedge Funds Care and the San Francisco 49ers Foundation.
The annual event is an opportunity for the hedge fund industry to recognise and work with a football team to support child abuse prevention and treatment programmes in the San Francisco Bay Area.
The event will be held on 18 April at The Bently Reserve (301 Battery Street, San Francisco). More than 400 hedge fund managers, investors and service providers are
UMB Fund Services (UMBFS) has made leadership changes and appointed a new representative for its business development team.
Lonnie Macdonald has transitioned out of his role as head of business development for UMBFS in order to focus on other responsibilities within the organisation. He had led the business development team since September 2007.
Macdonald will continue to serve as head of marketing for UMBFS and as president of the company’s alternative investment servicing division, JD Clark & Company. In addition, he will be focusing on developing and implementing a suite of middle-office services to be offered to clients.
CBOE Futures Exchange plans to expand CBOE Volatility Index (VIX index) futures trading hours – currently 7:00 am CT to 3:15 pm CT – in two phases, beginning in May.
The first phase of expanded trading hours is designed to meet demand from US customers for a post-settlement trading period. The second phase will allow European-based customers to trade VIX futures during their local trading hours.
Phase one – Beginning 30 May 2013
• Current VIX futures trading hours will expand by 45 minutes.
• Fifteen minutes after the 3:15 p.m. CT close of VIX futures, the
Special Reports
FeatureD
- Insight
