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The total trading volume on the European Energy Exchange (EEX) natural gas market amounted to 7,388,020 MWh in November.
The spot market accounted for 3.474,450 MWh and the derivatives market for the other 3.913,570 MWh.
The daily reference price on the spot market for natural gas ranged between EUR26.44/MWh and EUR28.41/MWh.
The European Gas Index (EGIX), published by EEX, displays the current market price for natural gas deliveries in the following month. For December delivery, the EGIX Germany reference price was fixed at EUR27.40/MWh.
For emission allowances, a total volume of 62,301,000 tonnes of CO2 was traded in November. A
Alternative Road Investment Advisers, Belvedere Asset Management and LJM Funds Management will advise new alternative mutual funds through Two Roads Shared Trust, a shared mutual fund trust open to new advisers effective 1 November 2012.
Two Roads is designed to help hedge fund managers and other alternative investment managers cost-effectively launch mutual funds by leveraging experienced hedge fund and mutual fund service providers, including Gemini Fund Services and Dechert, legal counsel to the trust.
"As more advisers continue to recognise the significant role that alternative strategies can play in diversified portfolios, we are pleased to provide them with a cost-effective
Eurex Exchange, the derivatives arm of Deutsche Börse Group, has launched what it believes to be the world’s most advanced trading system.
Participants of Eurex Exchange will benefit from significantly improved performance, more choice and enhanced functionalities.
“We believe this ‘next generation’ system will substantially change the way traders and investors access the world’s most dynamic markets, and it will establish a clear competitive advantage for our participants,” says Jürg Spillmann, member of the Eurex executive board and responsible for IT and operations.
“It has been designed in close partnership with exchange users, and we have built in the flexibility
RBC Global Asset Management has launched RBC BlueBay Absolute Return Fund, a fixed income mutual fund sub-advised by BlueBay Asset Management, a specialist fixed income and alternative asset manager.
The fund is available to institutional and high-net-worth investors across the US.
"The global financial crisis and current low yielding environment have induced investors to re-think traditional approaches to fixed income portfolios," says Mark Dowding (pictured), co-head of investment grade fixed income at BlueBay Asset Management and a senior portfolio manager of the RBC BlueBay Absolute Return Fund. "We recognised this need and are pleased to offer investors the additional choice
Citi has been awarded an expanded mandate from Kayne Anderson Capital Advisors to provide administration services for five additional hedge funds.
Citi’s total hedge fund mandate with Kayne Anderson now includes seven funds and over USD2bn in assets under administration.
Kayne Anderson is a Los Angeles-based alternative investment firm focusing in the energy, infrastructure, growth capital, real estate and middle market credit sectors.
“We are pleased to continue to demonstrate the value of our operational team,” says Bob Wallace, North America head of securities and fund services, Citi. “We look forward to continuing to support Kayne Anderson’s growth by delivering
100 Women in Hedge Funds (100WHF) has appointed new Global Association and London board members and created a new 100WHF Advisory Council.
Mimi Drake, president of Permit Capital Advisors and global chair of the 100WHF association board, says: “We are extremely proud of 100WHF’s continued growth as an organisation, both in terms of our global presence and the business backgrounds of our membership. The organisational changes we are announcing today reflect the deepening of our senior practitioner base to include family office leadership, private equity investors, real estate investing and women on corporate boards, in addition to our traditional member
The partners of global law firm K&L Gates and Australian national firm Middletons have voted unanimously to combine firms effective 1 January 2013.
The addition of Middletons’ 300 lawyers and four offices – in Melbourne, Sydney, Perth, and Brisbane – extends K&L Gates’ global reach to more than 2,000 lawyers in 46 offices across five continents.
The combined firm will employ the K&L Gates name.
Through the combination, K&L Gates greatly enhances its Asia Pacific regional coverage to 400 lawyers and 11 offices, including a recently announced office in Seoul, and becomes the first firm to combine with an Australian
Timothy S Durham, former chief executive of Ohio-based Fair Finance, has been sentenced to 50 years in prison for orchestrating a USD200m scheme that defrauded more than 5,000 investors over almost five years.
Judge Jane Magnus-Stinson of the US District Court for the Southern District of Indiana also sentenced James F Cochran, Fair Finance’s board chairman, to 25 years in prison, and Rick D Snow, the firm’s chief financial officer, to a 10-year prison term.
According to US Attorney Joseph Hogsett in Indianapolis, Durham’s sentence is the longest white-collar fraud sentence in Indiana history.
On 20 June, a federal jury
CYMBA Technologies, a provider of high-performance Multi Asset Class Investment Management solutions, has been awarded a prestigious ‘Gold Provider’ ranking in Financial IT’s annual Investment Management Technology Survey.
Katherine Emirosan, Editor at RFP Connect, publisher of Financial IT, says: “CYMBA Technologies was rated as “Gold Provider” in our IMT Survey 2012 and represented by its CYMBA Athena product. CYMBA Athena provides a number of trading, liquidity and data connectivity solutions. The total score of the product is 6.38, which means the solution is very good and meets all clients’ expectations. The product gained the highest scores among European clients for
In an effort to help establish a better framework for the hedge fund operational due diligence (ODD) process, professional services firm Rothstein Kass has launched a set of best practice ODD guidelines.
Designed to improve the ODD process for both managers and investors, the guidelines are the result of a two-day working group where investment managers, institutional investors and a team of Rothstein Kass experts engaged in open discussions to identify the inefficiencies in the ODD process and create best practice guidelines for the industry.
The ODD guidelines are the first formal publication from the Rothstein Kass Institute, a thought
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