Latest News
Neonet has added two markets to its execution services offering to further strengthen its coverage of European equities – Athens Stock Exchange and Istanbul Stock Exchange.
“Greek equities will complement Neonet’s focus on offering trading access to all markets in the Eurozone, while the Turkish addition addresses investors’ recognition that the Turkish economy has continued to grow despite global macro volatility,” says Massimiliano Raposio, vice president sales at Neonet. “Furthermore the Istanbul Stock Exchange has become increasingly important, having upgraded its connectivity and market operations.”
Access is available through Neonet’s execution services offering as of 3 October.
The London Metal Exchange (LME) experienced record volumes in September, with 14.09 million lots traded.
Average daily volume is up 8.5 per cent from 2011 with 633,702 lots trading per day.
Up to the end of September 2012, 119.1 million lots traded, the equivalent of USD10.9trn in notional turnover, which is up 11 per cent from the corresponding period last year (107.0 million lots).
The LME’s previous monthly record was set in September 2011, with 13.97 million lots traded.
Sciens Fund of Funds Management, part of the Sciens Capital Management Group and provider of single- and multi-strategy funds of hedge funds and managed account services, has launched the CCA Event Driven Fund on the Sciens Managed Account Platform (MAP).
The fund follows a liquid global equity event-driven investment strategy that seeks to generate absolute returns with low downside volatility and low correlation to the markets.
It opportunistically invests in corporate situations involving both “hard” and “soft” catalysts, including announced mergers, spinoffs, holding companies/stubs, restructuring, litigations, regulatory changes, IPOs/capital raising events, and companies exploring strategic alternatives.
The strategy maintains a
The Credit Suisse Liquid Alternative (LAB) Index was up 0.59 per cent in September according to Jordan Drachman, head of research for alternative beta strategies at Credit Suisse.
The long/short strategy was the most significant contributor to performance again, finishing up 1.34 per cent for the month.
The event driven strategy was the second-highest contributor to performance, finishing up 0.94 per cent for the month, and continues to have the highest performance year-to-date, up 8.10 per cent.
Jersey Corporate Services (JCS) has launched an outsourced business development service called Prospect.
The new services, which aims to help service providers foster relationships across the globe, has already attracted attention from foreign clients as well as those closer to home.
The new business development team at JCS manages a database in excess of 10,600 international contacts, giving Prospect subscribers access to business opportunities and specialist service providers tailored to their own specific needs, in all corners of the globe.
Vernon Breese (pictured), founder of JCS, says: “I’ve been travelling for some time now bringing new business to Jersey wherever
Oscar Hernandez of Miami, Florida and his companies, Midway Trading Company and Conquest Investment Group, are to pay a USD1.4m civil monetary penalty to settle CFTC charges that they operated a multi-million dollar commodity pool Ponzi scheme and misappropriated customer funds for personal use.
The consent order of permanent injunction was entered on 27 September 2012 by Judge Robin S Rosenbaum of the US District Court for the Southern District of Florida.
The order also imposes permanent trading and registration bans against the defendants and permanently prohibits the defendants from further violations of the Commodity Exchange Act, as charged.
Specifically,
PrimeOne Solutions, a division of CoreOne Technologies, is rolling out its new equity swap platform, Syn Prime, a synergistic addition to its set of hosted prime finance technology solutions.
Syn Prime was developed by a team of industry experts to provide investment banks, and hedge funds with all aspects of managing and valuing synthetic trading activities including robust financing capabilities, P&L, dividend workflows, resets and commissions.
“Most financial firms have traditionally built swap systems internally,” says EJ Liotta, global head of PrimeOne Solutions. “The market environment has permanently changed this strategy for firms and now is the time for them
Trend Capital, a Greenwich Connecticut based global macro hedge fund, has deployed Navatar Hedge Fund Cloud to manage its fundraising and investor relations.
Navatar Hedge Fund Cloud helps manage operational functions, including investor subscriptions and redemptions, fund offering and returns, security holdings and trades, fund exposure and risk.
It runs entirely in salesforce.com’s cloud and can be fully operational for a low monthly fee.
"We are very excited that Trend Capital chose to run their hedge fund business on the Navatar cloud service," says Ketan Khandkar, principal, Navatar Group. "Financial firms around the world are choosing Navatar cloud service so
EXANTE has launched the EXANTE Hedge Fund Index, which tracks the best performing hedge funds that are listed on the company’s Automated Trading Platform (ATP).
Currently composed of 20 top performing management companies, the performance of the index originates from a broad spectrum of strategies: these range from multi-arbitrage, high frequency trading, long/short equity and real estate, through to currencies, commodities, fixed income and volatility strategies.
Not only is the EXANTE Hedge Fund Index well diversified in terms of fund strategies, but also in respect to geographical location. Although most are domiciled in offshore jurisdictions, their main offices are based in
UMB Fund Services has further expanded its servicing capabilities with the launch of the Alternative Investment Communication Engine (ACE), a proprietary business process and content management solution.
ACE will be used in providing transfer agency services for the growing number of alternative investment asset managers with registered hedge funds that are serviced from UMBFS’ Milwaukee headquarters.
UMBFS worked closely with SunGard to develop ACE. The solution leverages business process management to automate processing and achieve seamless integration between the UMBFS registered hedge funds business system and SunGard’s Asset Arena Transfer Agency platform. The result is a proprietary solution tailored
