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On 19 January 2011 the European Commission (EC) suspended national registries in the EU ETS due to a theft of EUAs in a number of those registries. As a result, spot trading was not possible and Climex closed its spot trading platform.
Some national registries have been allowed to re-open since 4 February. A comprehensive solution has not yet been found: uncertainty in the spot carbon market remains and still poses a risk for market participants and clearing houses. Given these uncertainties, Climex and APX-ENDEX have decided to discontinue facilitating secondary trading in the spot carbon market.
All auction related
- 01/03/2011
Theta Legends XL Fund is the first Dutch fund of hedge funds with a listing on NYSE Euronext Amsterdam (symbol: THXLE). The fund offers investors the option to trade shares in Theta Legends XL Fund on a daily basis and provides easy and fully transparent access to a portfolio of investment managers, with better liquidity than usual.
Theta Legends XL Fund invests globally in a select group of alternative investment funds with a minimum track record of 15 years and proven skills to generate consistent absolute returns under varying market conditions. The target return of Theta Legends XL Fund
- 01/03/2011
The Greenwich Composite Investable Index gained 0.60% in January to begin 2011 on a positive note.
Equity markets gave little pause in January and moved to fresh highs in the US and Europe. Most hedge funds captured the upside move in equities and fixed income – seven of nine Greenwich Investable Indices moved higher on the month, led by Arbitrage and Long-Short Credit strategies. The Greenwich Long-Short Equity Investable Index also advanced by 1.20%
“Markets continue to shrug off sovereign debt concern in Europe and inflation pressures in emerging markets. Strong corporate earnings in the US and improved
- 01/03/2011
Electronic trading specialist Instinet Europe Limited has connected to Nordic@Mid, NASDAQ OMX’s non-displayed trading facility for its Nordic exchanges. Effective immediately, Instinet Europe’s institutional clients can access Nordic@Mid via Instinet’s Execution Experts algorithmic suite or its award-winning SmartRouter.
Nordic@Mid matches non-displayed orders at the midpoint of the primary market’s best bid and offer. The platform currently covers stocks listed on NASDAQ OMX’s cash equity markets in Copenhagen, Helsinki, Iceland and Stockholm, and will be extended to cover Norwegian shares later this quarter.
“In Europe, Instinet’s SmartRouter and algorithms access more than 40 exchanges, MTFs and broker-operated dark pools, and we
- 01/03/2011
- 01/03/2011
Mourant Ozannes partner Peter Hayden (pictured) and associate Tim Richards say that divergent court decisions in the Cayman Islands and British Virgin Islands on whether and under what circumstances liquidators should be appointed to funds that are in the process of being wound up by their managers highlight the need for express provisions on liquidation to be included in their constitutional documents, if necessary through amendment of existing provisions.
Most hedge funds do not give active consideration as to how they are to be liquidated in their constitutional documentation. Unfortunately this can have serious consequences for the
- 01/03/2011
BlackRock, Inc and NTR plc have formed a strategic relationship agreement to launch a new renewable power investment group. This comprises a number of key renewable power principals from NTR joining the BlackRock Alternative Investors (BAI) investment platform, which currently manages over USD110 billion of assets across a range of alternative investment strategies.
The new renewable power investment team will combine the international track-record of NTR in renewable power infrastructure development with the global fund management and distribution capabilities of BlackRock. As part of the strategic relationship between the two companies, NTR will provide market perspective and insights to the
- 28/02/2011
Global brokerage Newedge is now fully-operational as a General Clearing Member (GCM) of the Singapore Mercantile Exchange (SMX).
The SMX membership allows Newedge to transact, clear and settle customer trades, including any other Broker Member or Trade Member of the Exchange. Newedge is one of the leading commodity brokers on agricultural products, energy, emissions and metals, but also offers global multi-asset brokerage services for a range of listed and OTC derivatives and securities.
Mike Gilbert, Newedge Global Head of Professional Trading Group & Head of Clearing Asia Pacific, says: “Newedge SMX membership adds to our presence in Singapore where
- 28/02/2011
The Association of National Exchanges Members of India (ANMI) and the International Capital Market Association (ICMA) have today signed a Memorandum of Understanding which will strengthen their relationship and enable sharing of expertise and information between the two organisations as they seek to raise standards of market practice in the international and Indian capital markets respectively.
The two associations share common interests and will cooperate by a bilateral exchange of skills and experience in securities regulation, market infrastructure, and professional training for market participants.
Martin Scheck, Chief Executive of ICMA, says: “In the rapidly growing economy of India
- 28/02/2011
Connaught Asset Management is attracting growing interest with its latest fixed income fund, which was recently launched as a Guernsey Financial Services Commission (GFSC) authorised fund and listed on the Channel Islands Stock Exchange (CISX).
The Connaught Income Fund Series 2, offering returns of up to 7.5% pa with no fees or costs payable by the investor, is the latest asset backed fund that raises finance for short-term residential property lending in the UK.
James Bromhead, Connaught’s contact in the Channel Islands, says: “The fund is capitalising on the demand for short-term secured loans due, in part, to a
- 28/02/2011
Hedge funds successfully capitalised on opportunities across most global markets in January as equities, credit and commodities markets rallied, according to the Dow Jones Credit Suisse Hedge Fund Index monthly commentary.
The Index posted positive performance in January, up 0.69%, with six out of ten strategies in the index posting positive performance for the month.
Convertible Arbitrage was the best performing sector in January, up 2.16% for the month. Managers gained from a valuation richening in the space, driven in part by large institutional investors who were seeking to increase their equity exposure through converts.
Equity Market Neutral managers
- 28/02/2011
- 28/02/2011
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