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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
Chi-X Australia, a wholly owned subsidiary of alternative trading venue operator Chi-X Global, has appointed Jamie Crank as head of market operations.
Crank joins from the London Stock Exchange where he was most recently head of commercial management, equity and derivatives markets.
He brings extensive experience in market operations and global market structure knowledge.
Peter Fowler, chief executive of Chi-X Australia, says: “We are delighted to welcome Jamie as head of market operations. With over 15 years’ experience in Europe’s financial markets, his unique skill set and insights will be tremendously beneficial to our management team. As we head into
Deer Park Road’s flagship fund, STS Partners Fund, has closed to new investors.
The fund, which focuses on deeply discounted, short-duration, high cash-flow mortgage-backed (MBS) and other asset-backed (ABS) securities, was started in May 2008 with USD17m of internal capital and has since grown to more than USD600m.
Deer Park plans to roll-out a new fund early in the second quarter of 2013 that uses the same strategy and process employed in STS Partners Fund, but with securities that, for the most part, will be slightly higher in the capital structure and with slightly lower return expectations.
The new fund’s
