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The ordinary shareholders of LME Holdings have approved all the resolutions required in connection with the proposed scheme of arrangement to implement the acquisition of LME Holdings by Hong Kong Exchanges & Clearing (HKEx).
At the LME court meeting a majority in number of ordinary shareholders who voted (either in person or by proxy), representing over 75 per cent in value of all ordinary shares held by such shareholders, voted to approve the scheme. The resolution was accordingly passed by the requisite majority.
At the LME EGM, the special resolution proposed in relation to the scheme (including the proposed amendments
Coeli Asset Management has launched its Coeli Power Surge strategy on dbSelect, Deutsche Bank’s platform for accessing liquid hedge fund strategies.
Coeli Power Surge allows investors to gain access to the Nordic power market for the first time via dbSelect, adding to the roster of strategies available on the platform.
The strategy captures price trends caused by weather patterns in the Nordic countries. The manager trades exclusively on the Nasdaq OMX Commodities exchange.
Managed investment platforms allow hedge fund managers to offer multiple customised ways of accessing investment strategies in a transparent and efficient manner, whilst reducing counterparty risk and
The US Commodity Futures Trading Commission has filed a notice of intent to revoke the registrations of Brian Kim and Liquid Capital Management (LCM).
LCM is a registered commodity pool operator and commodity trading advisor.
Kim is registered as an associated person of LCM and is the sole principal of LCM.
The notice, filed on 24 July 2012, alleges that Kim and LCM are subject to statutory disqualification from CFTC registration based on a default judgment and permanent injunction entered by the US District Court for the Southern District of New York on 15 April 2011.
That injunction prohibits the
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
