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The Depository Trust & Clearing Corporation and Swift have been named by the Commodity Futures Trading Commission to provide the CFTC Interim Compliant Identifier (CICI) for legal entities involved in OTC derivatives trading.
“We are pleased that the CFTC has recognised the strength and immediate readiness of the DTCC/Swift proposal for the CICI programme,” says Michael Bodson, DTCC president and chief executive. “We expect to move rapidly to provide CICIs for organisations that are required by the CFTC to submit transactions to swap data repositories, to identify both the dealers and their counterparties around the world.”
The CICI is designed
After a period of “risk on” in the first quarter of 2012, the second quarter proved to be the complete opposite, says Altin, the Swiss alternative investment company listed on the London and Swiss stock exchanges.
The future of the Euro and even the solvency of certain banks were again questioned by the markets throughout the volatile quarter. As a result, fears regarding solvency issues in Europe spread and resulted in downward pressure on growth prospects globally.
The event driven silo saw the completion of the rotation of managers initiated at the end of the first quarter. The allocation to
Ramius, the alternative investment management business of Cowen Group, has published a report on the liquid alternative investment space with a particular focus on managed futures investing.
The report, co-authored by Ramius Trading Strategies chief executive officer William Marr (pictured) and principal and director of investment research Alexander Rudin, says the growth of investment in liquid alternatives has accelerated at a rapid pace – fivefold for alternative mutual funds since pre-crisis levels – as retail investors look for access to alternative strategies with daily liquidity.
Managed futures mutual fund assets alone have grown from USD244m in 2006 to USD7.5bn in
Advent Software has partnered with Data Agent to provide tools to help hedge funds and hedge fund administrators meet Form PF reporting requirements.
By working together, Advent and Data Agent bring together data, modern dashboards and easy-to-use management and sharing functionality to help reduce complexity, cost and the time required to meet new regulatory mandates.
The Dodd-Frank Act requires the Securities and Exchange Commission and the Commodity Futures Trading Commission to gather information on investment managers’ private funds. In response, the SEC created Form PF for Registered Investment Advisers. The first Form PF quarterly filing deadline is 29 August 2012
In anticipation of the implementation of Basel 3, which will commence in 2013, the investment guidelines prescribed for money market funds have been amended by the Registrar of Collective Investment Schemes – effective 1 July 2012. As a result of this, money market funds are likely to experience higher yields within a more regulated environment, says Sean Segar (pictured), Head of Product at Nedgroup Investments, Cash Solutions…
Ahead of the phased implementation of Basel 3, banks are already positioning themselves by changing the way they fund themselves. It will be to the advantage of the ZAR230 billion money market industry
MarketAxess has expanded its suite of electronic trading protocols to help investors and broker-dealers more effectively source liquidity in the credit markets.
MarketAxess has developed the industry’s first anonymous request-for-quote (RFQ) trading protocol for the credit markets on DealerAxess, its dealer-to-dealer electronic trading platform.
The new functionality allows dealers to electronically place individual orders or bid and offer lists through the MarketAxess system to other broker-dealers.
DealerAxess is connecting the interdealer institutional and retail markets to allow dealers to manage their balance sheet inventories more actively, a key objective in the new regulatory environment. More than 5,000 trades have been
Alternative investment firm Hatteras Funds will host a series of forums across the US for financial advisers, home office research teams and consultants to meet the underlying hedge fund managers of the Hatteras Alternative Mutual Funds.
Following a similar forum hosted in 2011 by Hatteras in New York City, the 2012 forums will visit five cities in September.
The series is being held in conjunction with the 10th anniversary of the Hatteras Alpha Hedged Strategies Fund, which will celebrate a decade of managing alternative investment strategies in a daily liquid mutual fund.
Along with portfolio managers from Hatteras, the forums
HSBC Global Asset Management has hired four people for its global macro and investment strategy team, led by Philip Poole in London.
Poole (pictured) joined Global Asset Management in July 2010 from HSBC Global Research where he was global head of emerging markets.
The role of the macro and investment strategy function is to provide economic and strategic research support for the investment teams at HSBC Global Asset Management. The team is also responsible for providing timely and informative market views to clients, ranging from daily market updates to market alerts and the longer Investment Quarterly report.
Julien Seetharamdoo has been
LCH.Clearnet’s interest rate swap clearing service, SwapClear, now clears approaching 50 per cent of all outstanding over-the-counter forward rate agreements (FRAs).
The rapid and broad adoption of FRA clearing since its introduction on SwapClear in December 2011 comes well ahead of mandatory clearing and reflects the market’s recognition of the value the product plays in cross-margining as an alternative to listed futures contracts.
FRAs are an important tool for offsetting short interest rate swap risk, and represent one of the most actively traded over-the-counter derivatives. SwapClear is the only service to offer clearing of OTC FRAs.
Since the product’s introduction,
Funds under management at Man Group totalled USD52.7bn at 30 June 2012, down from USD58.4bn at 31 December 2011.
The figure reflects sales of USD7.2bn, redemptions of USD9.6bn, investment movement of -USD0.3bn, FX translation effects of -USD0.5bn and other movements, principally guaranteed product degears, of -USD2.5bn, according to the company’s latest interim results.
Adjusted profit before tax (PBT) was USD121m, comprising adjusted net management fee PBT of USD108m and net performance fee PBT of USD13m.
The group reported a statutory loss before tax on continuing operations for the six months ended 30 June 2012 of USD164m, reflecting impairment of goodwill
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