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NYSE Euronext has reported global derivatives ADV in December 2011 of 7.5 million contracts, an increase of 11.8% compared to December 2010, but down 10.1% from November 2011 levels.
NYSE Euronext European derivatives products ADV in December 2011 tootled 3.4 million contract, an increase increased 4.2% compared to December 2010, but down 13.4% from November 2011 levels. Excluding Bclear, NYSE Liffe’s trade administration and clearing service for OTC products, European derivatives products ADV decreased 8.3% compared to December 2010 and decreased 29.5% from November 2011.
NYSE Euronext US equity options (NYSE Arca and NYSE Amex) ADV totalled 3.9 million contracts
The Hennessee Hedge Fund Index declined 0.60% in December (-4.27% YTD), while the S&P 500 advanced 0.85% (-0.02% YTD), the Dow Jones Industrial Average advanced 1.43% (+5.52% YTD), and the NASDAQ Composite Index fell 0.58% (-1.81% YTD). The Barclays Aggregate Bond Index gained 1.10% (+7.86% YTD), the S&P/BG Cantor 7-10 Year Treasury Bond Index climbed 1.84% (+15.60%), and the Barclays High Yield Index gained 2.66% (+4.98% YTD).
“It was a disappointing year for hedge funds as they underperformed broad market returns for the second year in a row,” commented Charles Gradante (pictured), Co-Founder of Hennessee Group. “Hedge fund managers describe 2011
In August 2011 the ‘Open Protocol Enabling Risk Aggregation’ standard was launched as a means to align transparency reporting formats and methodologies to benefit investors. Citco participated in the committee and helped define the standard to meet both Investor demand as well as acceptable levels of transparency for Investment Managers.
Citco’s contribution was based upon its extensive experience in the development of the Citco Transparency Platform which provides risk and transparency reports including:
Aggregation, attribution and transparency reporting developed specifically for investors, Investment Managers and regulators accessible through a dedicated portal
Investor NAV Disclosure Letter summarizing service levels including core
The US Commodity Futures Trading Commission (CFTC) has entered an order requiring Newedge USA, LLC (Newedge), a New York-based futures commission merchant, to pay a USD700,000 civil monetary penalty for submitting inaccurate large trader reports to the CFTC and for violating a 7 February, 2011, CFTC order directing Newedge to improve the accuracy and timeliness of its large trader reporting.
Newedge is a subsidiary of Newedge Group, SA, a global financial services company with 21 affiliates around the world. Newedge is one of about 200 clearing members, futures commission merchants and brokers who collectively submit about 600,000 large trader position
Hedge funds concluded a challenging 2011 with a decline in December, as the HFRI Fund Weighted Composite Index declined by 0.18 per cent, bringing full year 2011 performance to -4.8 per cent, according to data released today by HFR (Hedge Fund Research, Inc).
The decline for 2011 marks only the third calendar year decline since HFR’s index performance inception in 1990, but is the second decline in the last four years. Hedge funds produced a gain of 1.3 per cent in 4Q11, following a sharp decline of 6.7 per cent in the volatile 3Q; hedge funds gained 0.77 per cent
Liquidnet, the global institutional trading network, has appointed john Kelly as Chief Operating Officer and member of the leadership team effective immediately. In this new role for the company, Kelly will be responsible for driving revenue across all of Liquidnet’s businesses globally. He will be based in New York reporting directly to Liquidnet Founder and CEO Seth Merrin (pictured).
“John possesses the skills and diverse experience that we have been looking for in a COO,” says Merrin. “With more than three decades of leadership roles in equity capital markets, investment banking, and trading, I look forward to John playing a
CBOE Futures Exchange is to launch trading in security futures on the CBOE Emerging Markets ETF Volatility Index, pending regulatory approval.
The VXEEM Index reflects the implied volatility of the iShares MSCI Emerging Markets Index exchange-traded fund (ETF) (ticker:EEM). EEM options were the eleventh most actively traded option at CBOE in 2011.
In addition to hedging emerging markets volatility exposure or making direct plays on emerging markets volatility, VXEM security futures – in conjunction with other volatility products – will allow market participants to trade cross-index or cross-asset volatility.
Barclays Capital will be a Lead Market Maker for VXEM security
The Dow Jones Credit Suisse Core Hedge Fund Index was down 0.41% in December as the component strategies reported mixed results.
Managed Futures and Convertible Arbitrage were the top performing strategies, up 1.82% and 1.29% respectively, while Long/Short Equity fared worst, down 2.11% over the course of the month.
The other strategies in positive territory were Emerging Markets (+0.16%) and Global Macro (+0.38%), while Event Driven (-0.95%) and Fixed Income Arbitrage (-0.40%), both lost ground.
Hassans, the Gibraltar based international law firm, is pleased to announce the completion of its 10th fund transaction, raising EUR1.45 billion since July 2011. These fund transactions cover sectors, such as Chinese securities, Online Gaming applications, African Resources, Private Equity/Real Estate along with World fixed income and the more traditional securities based funds.
The funds are able to draw on the benefits of being domiciled in Gibraltar, which include tax transparency, English common law, speed to market, ease of access to the Gibraltar-based financial service firms and the regulatory authorities with low costs.
Furthermore, given that Gibraltar is within the
Boutique investment bank Dexion Capital has appointed listed alternatives stalwart, Tom Skinner, as head of research.
Skinner, reporting to Ana Haurie (pictured), Dexion’s Group Managing Director, was previously a Senior Research Analyst at JP Morgan Cazenove, leading coverage on listed hedge funds and listed offshore property funds, as well as covering listed private equity, infrastructure funds and conventional equity investment companies. Tom’s research has been Extel-ranked number one for the past five years. His appointment comes following an internal reshuffle at Dexion which sees the creation of a new product development area, led by Roy Kuo.
In addition, Robert
