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Singapore Exchange (SGX) and Eurex are to form a partnership to deliver convenient market access and cost efficiencies to members of both exchanges. Both companies plan to link their co-location facilities/data centres to provide market participants easy connectivity to each other’s markets in Singapore and Frankfurt/Main respectively.
As part of this partnership, Eurex will be moving its existing access point in Singapore into the SGX co-location data centre. In return, Eurex will act as a network service provider to SGX’s customers in Europe. This initiative is expected to be implemented mid-2012.
When the link becomes operational, customers of each exchange
The International Securities Exchange (ISE) has filed for approval with the Securities and Exchange Commission (SEC) to list options on the ISE Max SPY Index, a new proprietary index that represents ten times the value of the SPDR S&P500 ETF Trust (SPY).
Currently, options on SPY are the most actively traded contract in the options industry, with average daily volume of two million contracts on a year-to-date basis. Options on the ISE MAX SPY Index will build upon the success of SPY options by offering a large-sized, European-style option that is cash-settled, characteristics which appeal to the institutional segment of
Two prominent CTA indices have published positive year-to-date returns for managed futures funds, highlighting a promising start to the year for this sector.
The BarclayHedge CTA Index, a leading industry benchmark of representative performance of commodity trading advisors is up 0.85% for 2012 and the Newedge CTA index, designed to track the largest CTAs and be representative of the managed futures space is up 0.93% for the same period.
“Following the choppy markets in 2011, we have seen a noticeable shift in performance this year, pointing towards the trending market environment which is more suited to CTAs and managed
Goldman Sachs Execution & Clearing (GSEC), a registered futures commission merchant based in New York, NY, has agreed to pay a USD5.5 million civil monetary penalty and USD1.5 million in disgorgement to settle CFTC charges that it failed to diligently supervise accounts that it carried from about May 2007 to December 2009.
The CFTC order also requires GSEC to cease and desist from violating CFTC regulations requiring diligent supervision. Additionally, the order states that GSEC represented in its settlement offer that it has made changes in light of the events discussed in the order, including implementing enhanced supervision policies, procedures,
Pioneer Investments has appointed David Hanratty to Head both UK and Ireland Distribution and the Global Strategic Partners group.
The responsibilities have been brought together in recognition of the increasingly common characteristics of these business segments and the importance of London as a centre for Strategy Selection for Global Platforms and Institutional Consultants. 


Sandro Pierri, Head of Western Europe & International, says: ‘We have a major commitment to UK and Ireland; we know there is work to be done convincing the market we are dedicated to being a significant player but the creation of a major investment centre in
Apex Fund Services has successfully completed a Type 2 examination under Statement on Standards for Attestation Engagements No.16 (SSAE 16), and under the International Standard on Assurance Engagements, Assurance Reports on Controls at a Service Organization (ISAE 3402).
A key determination for completing an ISAE 3402 / SSAE 16 examination is that an independent service auditor successfully examined the system under audit for processing user entities transactions during the period of audit, as well as the suitability of the design and operating effectiveness of controls based on the defined control objectives.
This examination was performed by KPMG in
AIS Fund Administration, a provider of outsourced support and administration for hedge funds, has used Confluence’s Unity Financial Statements software to provide hedge fund financial reporting for its clients.
Automated Financial Statement Preparation (AFSP), os designed to reduce the risks caused by the use of error-prone spreadsheets and manual processes, and creates significant efficiencies and time savings for fund managers.
"Heightened demands for transparency from investors, regulators and auditors have rendered traditional spreadsheet-intensive statement preparation processes too onerous," says Kirk Botula, Confluence President and Chief Operating Officer. "We are pleased that AIS turned to the Confluence Unity platform to create
Systematic global macro trading firm Sunrise Capital Partners is listing its Expanded Diversified Strategy and Aggressive Diversified Strategy in the AlphaMetrix Global Marketplace (AGM).
“Since our inception in 1980, Sunrise has aimed to provide clients with compelling, low correlation returns while delivering the utmost in investment transparency,” says Jason Gerlach (pictured), Managing Director. “AlphaMetrix provides investors with world-class due-diligence and verification, industry-leading technology, and a robust information database. By partnering with AlphaMetrix, Sunrise takes its three-decade commitment to transparency to the next level.”
The Sunrise Expanded Diversified Strategy will be visible on the AlphaMetrix Global Marketplace, providing access to the
Eurex Repo, Eurex Clearing and Clearstream, all part of Deutsche Boerse Group, are to introduce an extension of the integrated and innovative GC Pooling market for secured funding, which will be made available for active GC Pooling participants (banks) to further strengthen their service scope towards corporate customers. Launch is scheduled for Q4 2012.
The leading GC Pooling marketplace for secured interbank transactions will be enhanced to contribute to re-building trust between banks and their existing non-financial customers, e.g. corporates, asset managers and pension funds. The new market segment GC Pooling Select will be specifically designed for secured short-term cash
Hedge fund flows as measured by the GlobeOp Capital Movement Index advanced 2.10% in March.
“Another month of healthy inflows continues the recent trend,” says Hans Hufschmid (pictured), chief executive officer, GlobeOp Financial Services (LSE:GO.).
The GlobeOp Capital Movement Index represents the monthly net of hedge fund subscriptions and redemptions administered by GlobeOp. This monthly net is divided by the total assets under administration (AuA) for GlobeOp’s fund administration clients.
Cumulatively, the GlobeOp Capital Movement Index for March 2012 stands at 144.67 points, an increase of 2.10 points over February 2012. The Index has advanced 14.43 points over the past
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