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It’s not been a great start to the year for Asia ex-Japan hedge funds.
Singapore-based Dymon Asia Capital, a 2008 startup established by ex-Citadel’s Danny Yong with USD113million in seed capital from Tudor Investment
The Salus Alpha Commodity Arbitrage had a performance of +2.87% for the month to date.outperforming the Dow Jones UBS Commodity Index by 1.56% during the reporting period, which earned 1.31%. The performance of Salus Alpha Commodity Arbitrage was 2.15% better than the performance of HFRX Systematic Diversified Index.
Salus Alpha Commodity Arbitrage tracks the CAX – Commodity Arbitrage Index. The CAX Index covers the performance of arbitrage strategies, which aim to extract consistent market neutral returns from valuation inefficiencies arising among related commodities – like for example Brent Crude vs. WTI Light Sweet Crude – or among different maturities
LCH.Clearnet has launched its SwapClear Futures Commission Merchant (FCM) service. US interest rate swap (IRS) clients are now able to access this market leading service through any of the 12 FCMs already connected to the service.
Six clients have cleared executed OTC IRS trades on SwapClear in a variety of maturities and currencies, including USD, EUR and GBP.
The 12 FCMs connected to the service are: Bank of America Merrill Lynch; Barclays Capital; BNP Paribas Securities Corp; Citigroup; Credit Suisse Securities USA LLC; Deutsche Bank Securities, Inc.; Goldman Sachs & Co; J.P. Morgan Futures Inc.; Morgan Stanley; Nomura Securities Int’l Inc.;
By Kent Barnes – On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Act). The Act, which is set to become effective on July 21, 2011, is a comprehensive suite of regulatory reforms intended to contain risk in the financial services industry through tightened regulation, increased consumer safety, and stricter oversight of public companies.
Requirement to Register with the Securities Exchange Commission (the “SEC”)
Title IV of the Act, referred to as the Private Fund Investment Advisers Registration Act of 2010 (the Registration Act), contains a broad
The European Repo Council of the International Capital Market Association (ICMA) today released the results of its 20th semi-annual survey of the European repo market, undertaken in December 2010. The survey sets the baseline figure for market size at EUR 5,908 billion representing a modest year-on-year increase of 6% on the figure of EUR 5,582 billion for the survey in December 2009.
There was a sharp fall from the headline total of EUR6,979 recorded in June 2010, but this figure included unusual specialised transactions that have subsequently been unwound. The results of the latest survey confirm the continuing trend of modest
The US Commodity Futures Trading Commission (CFTC) has filed a complaint in the US District Court for the Western District of Wisconsin charging defendants Jacob Juma Omukwe, JadeFX Ltd (JadeFX) and Jade Investments Group, LLC (Jade), with operating a fraudulent off-exchange retail foreign currency (forex) scheme through the website www.jadefx.com. None of the defendants has ever been registered with the CFTC.
On the same day the complaint was filed under seal, March 2, 2011, US District Court Judge William M.Conley entered a restraining order, also under seal, freezing defendants’ assets and prohibiting the destruction of books and records.
The CFTC
By James Williams – When the Dodd-Frank regulatory reform law was passed last July, there was probably a degree of denial amongst the hedge fund community as to precisely what the long-term implications would be.
Such sweeping changes – forcing hedge funds with USD150million or more to be registered with the SEC, and those with USD25million to USD150million in AUM to still require state-level registration – were hard to grasp initially. But the reality is sinking in fast.
The USA is home to the world’s biggest alternatives market (Bloomberg’s list of 2010’s top 100 hedge funds reveals that 13 of
Liquidnet, the institutional equities marketplace, has appointed Scott Harrison as Global Head of Product with responsibility for overseeing, enhancing and building out the company’s product offerings. Based in New York, he will report directly to Liquidnet CEO and Founder Seth Merrin (pictured) and will be part of the Liquidnet Leadership team.
“Over the last 10 years, Liquidnet created an electronic institutional marketplace where there once was none, then we took that marketplace global. Now we are building solutions for our Members that will change the way they work, add value in ways that until now were not possible, and create
The Financial Industry Regulatory Authority (FINRA) has expelled MICG Investment Management, LLC (MICG) of Newport News, VA, and barred Jeffrey A Martinovich, the firm’s CEO and majority owner, for securities fraud, misusing investors’ funds and causing false account statements to be issued to investors in connection with their management of a proprietary hedge fund named MICG Venture Strategies, LLC (Venture Strategies).
MICG and Martinovich organized, controlled and managed the hedge fund.
FINRA found that MICG and Martinovich improperly assigned excessive asset values to two non-public securities owned by Venture Strategies, and used the excessive asset values as the basis
