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At the derivatives markets of Eurex, an average daily volume of 9.2 million contracts was traded in October, down from 10.4 million in October 2009.
Thereof, 6.3 million contracts were traded at Eurex (October 2009: 6.4 million) and 2.9 million contracts were traded at the International Securities Exchange (October 2009: 4.0 million).
In total, 193.7 million contracts were traded on both exchanges (October 2009: 228.8 million); thereof, 132.0 million contracts at Eurex and 61.7 million contracts at ISE.
At Eurex, the equity index derivatives segment was the most active segment, totaling 57.7 million contracts (October 2009: 67.4 million). Futures on
Hedge fund managers remain downbeat on US equities, according to the TrimTabs/BarclayHedge survey of hedge fund managers for October.
About 39 per cent of the 102 hedge fund managers the firms surveyed in the past two weeks are bearish on the S&P 500, up from 37 per cent in September.
“The lean toward bearishness surprises us a bit because extreme caution in September produced substantial underperformance,” says Sol Waksman, chief executive of BarclayHedge. “We suspect managers will invest much more aggressively in the current quarter. Stock prices keep grinding higher, and hedge funds hauled in USD18.8bn in the past three
Irish law firm Dillon Eustace is relocating the first unit trust investment fund from the Cayman Islands to Ireland.
The move, which was completed on behalf of a major international financial institution and its underlying investor, follows the Irish Central Bank’s agreement to facilitate the general relocation of unit trusts.
Legislation was also recently commenced to streamline the process of re-domiciliation of corporate funds to Ireland.
In this instance, the re-domiciliation has involved a Cayman Islands registered unit trust relocating as an Irish Qualifying Investor Fund. More fund relocations are expected shortly.
Brian Dillon, partner with Dillon Eustace,
RWC Partners’ Peter Allwright and Stuart Frost have taken over day-to-day management of the RWC Cautious Absolute Rate and Currency Fund.
Frost and Allwright (pictured) joined RWC Partners in October from Threadneedle where they were joint portfolio managers of the Threadneedle Target Return Fund, Absolute Return Bond Fund and the hedge fund, Macro Crescendo Trading Fund.
The RWC Cautious ARC Fund is approximately USD60m and will continue with its existing target of cash plus three per cent over the market cycle, a target that matches two of the funds they were previously responsible for.
Allwright and Frost have
Liquidnet, an institutional investment community that enables secure and anonymous block trading of equities, has expanded its trading operations to include listed securities from Israel.
Liquidnet will commence trading in this market on 1 November making it the first block trading venue to offer direct electronic access into a Middle Eastern market.
With the addition of Israel, Liquidnet now offers trading access to 37 equities markets (plus London and Luxembourg GDRs) around the world and provides access to 100 per cent of the MSCI World Index.
“As institutional investors continue to look at newly developed and emerging markets to boost
Traiana has expanded the Traiana Harmony network to manage exchange-traded derivatives.
Fully integrated with Traiana’s solution for foreign exchange, Harmony for Exchange Traded Derivatives provides real-time post-execution risk management, with services for straight-through-processing, allocations, reconciliations, and confirmations for ETD trades.
Using Harmony, banks are able to provide their clients with real-time visibility of ETD trades, increasing the transparency and operational efficiency of the bank’s post-trade processes.
Deutsche Bank is the first customer to go live with Harmony for Exchange Traded Derivatives.
Buy-side firms can now match, allocate, STP and confirm their trades in real-time to ensure any mismatches are caught
Deutsche Bank has gone live with dbClear Listed Derivatives Matching.
The new service will provide Deutsche Bank’s clients with real-time visibility into the futures and options trade life cycle from execution to settlement.
The company says clients will benefit from improved risk management, trade processing and client service.
dbClear Listed Derivatives Matching connects the client, clearing broker and executing broker using Traiana Harmony for Exchange Traded Derivatives. It provides straight-through-processing, allocation, reconciliation, and confirmation for listed derivatives trades. This allows Deutsche Bank to match, allocate and execute post-trade processes for futures and options in real-time to ensure any mismatches are
The Life & Longevity Markets Association has launched a series of technical publications that aim to bring the creation of a longevity market a step closer.
For the first time there is now a publicly available market-standard approach to the pricing of longevity exposures and the definition of longevity risk transfer instruments.
This standardisation will facilitate the development of a liquid traded market in longevity risk transfer.
The LLMA standards aim to encourage greater consistency and the adoption of best practice across the market, thereby providing greater comfort to first-time counterparties and reducing the time spent on due diligence for
Deutsche Bank has received independent assurance under the International Standard on Assurance Engagements 3000 on its London-based dbSelect platform, a platform for accessing liquid hedge fund strategies.
The ISAE 3000 assurance provides an independent assessment of management’s assertion for the design effectiveness of Deutsche Bank’s internal processes and controls on the dbSelect platform.
The assurance was provided by PricewaterhouseCoopers and the scope of the assurance, performed in accordance with ISAE 3000, also incorporated elements of Deutsche Bank’s foreign exchange business and listed derivatives business.
Developed by the International Auditing and Assurance Standards Board, the ISAE 3000 is used by accounting
InvestCloud, a company that delivers securities technology and services from the cloud, has launched The Prime Broker Cloud, the first of their institutional solutions for the securities industry.
The Prime Broker Cloud is an object solution for prime brokers that combines InvestCloud’s transaction editor, message technology, Interactive Data Repository, intraday accounting, order management system, and Interactive Reporting Portal.
The Prime Broker Cloud is designed to enhance the efficiency and effectiveness of processes at the heart of the prime brokerage role. It is able to selectively solve precise points of weakness in a prime services vendor’s current service offering by using
