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Eurex will list three options on 17 May based on the Deutsche Bank ETFs db x-trackers MSCI Emerging Markets TRN, MSCI World TRN and MSCI Europe TRN.
Additional ETF options are expected to be listed at Eurex later this year.
“With the re-launch of our ETF derivatives segment, we support the expansion of the ETF market by offering custom-made hedging opportunities for investors and ETF issuers,” says Peter Reitz (pictured), member of the Eurex executive board. “The European ETF market has grown tremendously in every category over the last ten years, ETF derivatives will contribute to the growth of this
The average daily volume (ADV) of European derivatives traded on NYSE Euronext in April was 6.8 million fontracts, an increase of 51.5 per cent over April 2009 and an increase of 46.9 per cent from March 2010 levels.
The 6.8 million in futures and options contracts ADV consisted of 3.9 million contracts executed through NYSE Euronext’s full-service LIFFE CONNECT trading platform and 2.9 million contracts, or 42.0%, executed through Bclear, NYSE Liffe’s trade administration and clearing service for OTC products. Year-to-date, European derivatives products ADV of 5.3 million contracts was 34.7% above prior year levels. The 5.3 million in futures and options
Eurex set a new daily trading volume record on 5 May with 19.5 million contracts, surpassing the previous record of 19.2 million contracts set on 14 May 2008.
ISE trading volume was 4.6 million contracts.
Eurex’s equity based derivatives (equity options and single stock futures) was the largest segment with 9.9 million contracts.
Eurex’s equity index derivatives segment totalled at 5.3 million contracts.
Eurex’s interest rate derivatives segment reached almost 4.3 million contracts.
Australian Fund Monitor’s index of Australian hedge and absolute return funds has almost regained the previous high water mark set in October 2007 after adding 2.64 per cent in March to be up 1.41 per cent year-to-date.
Equity based funds rose 3.51 per cent in March, while non-equity based funds rose by 1.62 per cent.
The Australian equity markets continue to range trade between 4,500 and 5,000, although the rise of 5.13 per cent in the ASX200 in March only just managed to claw back losses in January to be up 0.10 per cent YTD.
As a result, with April’s
Investors’ views about the US are very positive with 65 per cent saying they would buy US equities this year versus 21 per cent Europe and 14 per cent Japan, according to a poll by Schroders.
At a recent Schroders investment conference in London, 95 intermediary clients from across the Middle East and Europe were asked their top asset class and regional recommendations as well as preferred investment strategies for 2010.
Positive sentiment towards emerging markets has not changed since the same conference six months ago with 27 per cent choosing emerging market debt and 23 per cent emerging markets
GLG Partners has reported a GAAP net loss attributable to common stockholders for the quarter ended 31 March 2010 of USD60.8m, or USD0.27 per fully diluted share.
Non-GAAP adjusted net loss was USD3.1m, or USD0.01 per non-GAAP weighted average fully diluted share, for the three months ended 31 March 2010.
GLG recoded first quarter 2010 dollar-weighted average returns of 5.3 per cent for the alternative strategies, 6.2 per cent for the 130/30 strategies and 6.1 per cent for the long only strategies.
The April 2010 dollar-weighted average returns were 1.5 per cent for the alternative strategies, 1.6 per cent for
Lloyds TSB Corporate Markets has appointed Alan Capper as managing director and head of credit strategy.
In this newly created position, Capper will be responsible for the provision of macro credit strategy research and he will also be instrumental in building a team to generate trading recommendations.
He will report to Paul Lewitt, head of credit trading.
Capper has over 20 years’ financial markets experience. He led BNP Paribas’ quantitative credit research and credit strategy teams and was managing director responsible for Lehman Brothers’ European credit strategy from 2004 to 2006.
Latterly, he was head of asset allocation for
Data Explorers has published a research report which shows that US domiciled securities lenders are overwhelmingly focussed on cash as collateral, whilst many other jurisdictions have a propensity to accept non-cash collateral.
The report argues the predominance of non-cash, in particular liquid equities, collateral by lenders outside the US was instrumental in mitigating risk following the implosion of Lehman Brothers during the credit crunch.
“Collateral is an essential component of securities lending transactions. What one accepts and how it performs is of critical importance, especially when things go wrong, as in the case of Lehman,” says Mark Faulkner, founder and
Fortress Investment Group made a GAAP net loss of USD261m during the first quarter of 2010 compared to a loss of USD287m for the first quarter of 2009.
The GAAP net loss attributable to class A shareholders was USD84m, or USD0.58 loss per diluted share, as compared to a loss of USD67m, or USD0.71 loss per diluted share, for the first quarter 2009.
Excluding principals agreement compensation, first quarter GAAP net loss was USD27m, as compared to a net loss of USD52m for first quarter 2009.
For the first quarter, fund management distributable earnings was USD92m compared to USD44m in
Jesse Redmond and Justin Pawl, the former co-portfolio managers of the Alpha Titans Funds, have partnered with a previous Forbes 400 family office president to form Evolved Alpha.
Evolved Alpha is a multi-strategy fund that provides investors with transparent, liquid and secure access to a portfolio of uncorrelated alpha-return strategies.
The new business leverages the founders’ experience gained while researching top multi-strategy managers over the past several years.
“We always appreciated the diversification, sophisticated risk management and nimbleness of multi-strategy funds such as Millennium and SAC, yet realised the limitations in recruiting and retaining top talent to trade in-house,”
