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London Stock Exchange Group (LSEG) is to acquire a majority stake of up to 60 per cent of clearinghouse LCH.Clearnet in a deal worth EUR463 million.
Under the terms of the Transaction, London Stock Exchange (C) Limited (LSEC) will pay EUR20 per LCH.Clearnet Share acquired, comprising a cash consideration of EUR19 per LCH.Clearnet Share payable by LSEG under the Offer plus EUR1 per LCH.Clearnet Share from the Special Dividend payable by LCH.Clearnet (which may be reduced by the cost to LCH.Clearnet of any Relevant Claim(s)).
The total implied value of LCH.Clearnet under the terms of the Transaction is EUR813 million
The Hennessee Hedge Fund Index advanced 1.72% in February (+4.07% YTD), while the S&P 500 advanced 4.06% (+8.60% YTD), the Dow Jones Industrial Average increased 2.53% (+6.02% YTD), and the NASDAQ Composite Index climbed 5.44% (+13.89%).
Bonds also advanced, as the Barclays Aggregate Bond Index declined 0.02% (+0.86% YTD) and the Barclays High Yield Credit Bond Index advanced 2.37% (+5.48%).
“Hedge funds are off to the best start since 2000,” says Charles Gradante, Co-Founder of Hennessee Group. “During the first two months of the year, hedge funds have benefitted from a better investment environment relative to 2011, with improved investor sentiment, greater risk taking, lower correlations and
NYSE Euronext’s global derivatives average daily volume (ADV) of 7.0 million contracts in February 2012 represented a decrease of 21.4% versus the prior year.
European derivatives products ADV in February 2012 of 2.8 million contracts decreased 35.7% compared to February 2011 and decreased 11.9% from January 2012 levels. Excluding Bclear, NYSE Liffe’s trade administration and clearing service for OTC products, European derivatives products ADV decreased 36.7% compared to February 2011 and decreased 6.7% from January 2012.
NYSE Euronext US equity options ADV of 4.1 million contracts in February 2012 decreased 9.2% compared to February 2011 levels and decreased 1.5% from January
The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action in the US District Court for the Middle District of Alabama charging John David Stroud and his companies, Stroud Capital Management, LLC, TS Capital Partners, LLC, and TS Capital Management, LLC, all of Auburn, Ala, with fraud and misappropriation in operating two commodity pools.
On 7 March, 2012, US District Court Judge Myron H Thompson entered an emergency restraining order freezing defendants’ assets. The order also prohibits the defendants from destroying books and records and denying CFTC staff access to such records. The judge set a hearing date for 16 March, 2012.
A delegation from Guernsey has been in Moscow to raise the Island’s profile as an international investment funds centre.
The team was led by Fiona Le Poidevin, Deputy Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry.
The itinerary included a series of meetings with investment managers, private banks, accountancy firms and law firms as well as attending the Russian Fund Forum which attracted around 150 delegates over two days at the Moscow Marriott Grand Hotel.
Miss Le Poidevin says: “Guernsey has attracted very well known and highly respected names in the Russian funds world
By Debbie Payne and Gary Burr of PricewaterhouseCoopers – On 8 February 2012, the US Department of Treasury and IRS issued long-awaited draft regulations providing guidance on the application of the FATCA regulations.
Of more significance is the Joint Governmental Statement issued on the same day by the UK, France, Germany, Italy and Spain. This changes FATCA from a piece of unilateral US legislation to the start of an extensive multi lateral reporting system.
A further consequence is that FATCA will now become part of not just UK legislation but the domestic legislation of many FATCA Partners. For the UK
Value Partners Group (806:HK), one of Asia’s largest independent asset managers with approximately USD7.7billion in assets as at 31 January 2012, announced this week
Asian hedge funds continue to surge ahead as they attempt to eradicate last year’s losses.
Asia-focused hedge funds that launched post financial crisis are shutting as they struggle to compete for, and raise new capital from a shrinking pool of key investors reported Bloomberg
A former managing director at Standard Chartered and derivatives trader Yiming Liang, and the former chief investment officer of China&r
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