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Lyxor Asset Management announces its partnership with IKOS to launch the second alternative manager on its Lyxor Dimension UCITS Platform. With this launch, Lyxor further expands its offer of alternative UCITS funds.
The Lyxor / IKOS Futures Strategy Index Fund offers access to a diversified managed futures strategy which applies a systematic quantitative global macro approach to trade highly liquid listed futures. This strategy combines the use of econometric factors, time-series analysis and market micro-structure models, within an integrated risk management and systematic intra-day execution platform.
IKOS has been trading futures markets for over 15 years. The Lyxor / IKOS
The Cayman Islands Stock Exchange (CSX) has reached 100 catastrophe bond programme and series listings, with a total face value of approximately USD8.5 billion.
The CSX listed its first cat bond Ajax Re Ltd in 2007. The specialist listing rules of the Cayman Islands Stock Exchange are specifically tailored to support the approach of the of the Cayman Islands Financial Services Industry in its highly successful drive to attract Insurance Linked and other captive reinsurance business . The insurance industry in the Cayman Islands has surged recently with a total of 739 captives now collecting an all time high of USD11.76
The British Virgin Islands Financial Services Commission (FSC) has issued guidance on the form and content of the audited financial statements to be prepared and filed by certain regulated companies.
Private and Professional Funds Private and Professional funds recognised under the Securities and Investment Business Act, 2010 (SIBA) are generally required to appoint an auditor and to file their audited financial statements with the Commission not more than six months after the end of each financial year.
According to law firm Harneys, concern has been expressed by the industry regarding certain provisions in the Mutual Funds Regulations, 2010 (“Regulations”) regarding
SunGard has launched Hedge360, an integrated, hosted service that supports the complete investment lifecycle for hedge funds and alternative asset management firms, from portfolio management to risk management, portfolio accounting and reporting with dedicated coverage of convertible arbitrage strategies and independent valuation.
The various solution components are delivered on a Software-as-a-Service (SaaS)* basis, helping customers choose features and functions to customise a comprehensive solution.
Hedge360 comprises functional components from SunGard’s suite of solutions for the alternatives industry, delivered on a SaaS basis with out-of-the-box interfaces to prime brokers, administrators, order management systems and execution management systems. Customers may select the
The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against James Giacomo Brandolino, previously of Joliet, Illinois, for conducting a number of fraudulent commodity futures investment schemes and misappropriating customer funds.
The CFTC order requires Brandolino to pay a civil monetary penalty of USD1 million and permanently bans him from trading on or subject to the rules of any CFTC-registered entity. The order also requires Brandolino to comply with certain undertakings, including never applying for registration with the CFTC.
The order finds that from at least July 2006 to January 2011, Brandolino accepted approximately USD3.6 million
Macro Risk Advisors (MRA), a provider of global market risk analysis and derivatives trade execution for institutional investors, has appointed Brian Bier as Managing Director and Head of Equity Derivative Sales and Trading.
He will lead the sales and execution team, utilizing his expertise in option analytics and deep understanding of risk relationships to deliver superior pricing and advisory services to MRA clients.
Bier brings to MRA years of experience in providing investors access to liquidity and achieving best execution by combining his extensive knowledge of trading technology, price discovery and option trading venues. He will lead a highly regarded
The US Commodity Futures Trading Commission (CFTC) has filed a federal civil enforcement action charging Alexander Giap (Giap) of Annandale, Va, with fraud by acting as an unregistered commodity trading advisor (CTA) and operating two separate fraudulent schemes involving commodity futures trading. The CFTC’s complaint was filed in the US District Court for the Eastern District of Virginia, Alexandria Division.
The complaint also names iTRADE LLC (iTrade), of Falls Church, Va, a firm Giap operated, as a relief defendant because iTRADE received funds as a result of Giap’s fraudulent conduct but has no legitimate claim to those funds. Neither Giap
Singapore Exchange (SGX) has accepted the resignation of MF Global Singapore Pte Limited (MF Global) as a Member of Singapore Exchange Derivatives Trading Limited (SGX-DT), Singapore Exchange Derivatives Clearing Limited (SGX-DC) and Singapore Exchange Securities Trading Limited (SGX-ST).
This completes the administrative process that remained after all SGX derivatives positions of MF Global’s customers had been transferred to their alternative clearing members or closed out, and all margins had been transferred to customers’ alternative clearing members or returned to the Provisional Liquidators of MF Global.
Customers’ derivatives positions were transferred to other clearing members or closed out by MF Global
The Securities and Exchange Commission (SEC) has released an alert to help firms prevent and detect unauthorised trading in brokerage and advisory accounts.
The Risk Alert issued by the agency’s Office of Compliance Inspections and Examinations (OCIE) notes that although broker-dealers and investment advisers are subject to different regulatory requirements, both face similar risks of financial and reputational losses arising from unauthorised trading.
Unauthorised trading can include rogue trades in customer, client, or proprietary accounts or trades that exceed firm limits on position exposures, risk tolerances, and losses. Unauthorised trading can be done by traders, assistants on trading desks, portfolio
The Honourable Jed S Rakoff, United States District Judge, United States District Court for the Southern District of New York, has entered Final Judgments on Consent as to Jason Pflaum and Walter Shimoon in the SEC’s insider trading case, SEC v Mark Anthony Longoria, et al, 11-CV-0753 (SDNY) (JSR).
The SEC filed its Complaint on 3 February, 2011, charging two employees of the so-called “expert network” firm, Primary Global Research LLC (“PGR”), and four consultants with insider trading for illegally tipping hedge funds and other investors. On 8 February, 2011, the SEC filed an Amended Complaint, charging a New York-based
