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Derivix, a financial services software company, has secured investment from J.P. Morgan and S.A.C. Venture Investments, an affiliate of S.A.C. Capital Advisors.
Derivix’s analytics functionality, broker-neutral execution and portfolio risk platform provides clients with solutions to meet the increasingly competitive challenges of derivatives trading.
The investments follow a year of continued growth by Derivix. In 2009, the company increased its client base, continued its product development and further expanded its partner programme.
The new investments will enable Derivix to enhance its product by powering continued product innovation, expanding its sales and customer support infrastructure, and fuelling its entry into new
RWC Partners has received authorisation for its Ucits III RWC US Absolute Alpha fund in Germany.
The fund is a US equity long short strategy managed by Mike Corcell.
It was launched in October 2009 and has since raised USD350m.
Corcell was previously the manager of the Threadneedle American Crescendo fund which he managed from 2004 until 2008.
Corcell has a team of seven including Alex Robarts, also from Threadneedle, and Gabe Marshank and Chris McNally from SAC Capital.
RWC US Absolute Alpha is managed using the same process Corcell has developed over the last five years funds.
The US Commodity Futures Trading Commission has obtained more than USD4.6m in disgorgement and civil monetary penalties in a court order settling CFTC charges filed on 11 March 2009 against Virginia-based defendants.
The defendants are John M. Donnelly, Tower Analysis , Nasco Tang and Nadia Capital, all of Charlottesville, Virginia. The relief defendants are Blue Logic Operating Partners, Nadia Capital Operating Partners and Deborah B. Donnelly.
The consent order and judgment, entered on 24 March 2010, by the Honourable Glen E. Conrad of the US District Court for the Western District of Virginia, requires defendants and relief defendants, with the
LCH.Clearnet has cleared the first credit default swap index contracts.
Both regulators and market participants have been keen to see clearing for CDS introduced to bring security and transparency to the OTC derivatives markets.
The service, launched in response to this demand, has seen support from clearing members.
The introduction of clearing brings greater protection to the CDS market, enabling market participants to benefit from reduced counterparty risk, straight through processing, post-trade anonymity, and a track record in risk and default management.
Initially, the service covers European indices, with the intention to expand the offering based upon market demand.
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FinAnalytica, a provider of portfolio risk solutions for multi-manager funds, hedge funds and asset management firms, has added Jamie Ridyard to its board of directors.
Ridyard was previously chief executive at APT, a risk solutions company, having been instrumental in its growth over the previous 15 years and, ultimately, its sale to SunGard in February 2008.
Prior to his time in the finance sector, he taught Philosophy of Law at Wroclaw University.
“Given our continued global growth, Jamie’s appointment complements the current board and management skill sets,” says Andrew Huddart, FinAnalytica’s chairman. “He will bring extra depth to the company’s
Edhec-Risk Institute has launched the FTSE Edhec-Risk Efficient Index Series.
The series is the culmination of a research programme on indices and benchmarks that the institute has been conducting since it was founded in 2001.
The indices are based on the idea that the goal for a rational investor is to hold a portfolio that achieves the highest risk-adjusted performance. Therefore, one should focus on designing a portfolio with the highest reward-to-risk ratio – i.e. with the highest Sharpe ratio.
The aim of the efficient indexation approach is to provide investors with benchmarks that reflect the possible risk-reward ratio from
The US Commodity Futures Trading Commission has charged Enrique F. Villalba, Jr., of Cuyahoga Falls, Ohio, and his firm, Money Market Alternative, with operating a multi-million dollar commodity futures Ponzi scheme.
The CFTC complaint, filed on 29 March 2010 in the US District Court for the Northern District of Ohio, charges that, beginning in at least 1996 and continuing through at least November 2009, Villalba and MMA operated a USD37.5m fraudulent scheme.
The complaint alleges that Villalba and MMA misappropriated at least USD3m in investor funds to finance Villalba’s coffee business and to purchase real estate among other things.
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A review is being conducted into the use of derivatives by mutual funds, investment companies and exchange-traded funds.
Finles Capital Management is launching the first index tracker focused exclusively on Dutch-based hedge funds.
The initiative is aimed at attracting more institutional investments in Dutch hedge funds and putting the Netherlands on the map as an international centre for the sector.
Rob van Kuijk, chief executive of Finles Capital Management, says: “A typical pension fund in the Netherlands lost one per cent or more on its equity portfolio during the last ten years, while in contrast, a diversified hedge fund investor would have achieved a return of five per cent during the same period with less than half
Pacific Century Group, an Asia-based private investment firm, has acquired PineBridge Investments from American International Group.
PineBridge operates as a multi-strategy investment manager in 31 countries with USD87.3bn in assets under management as of 31 December 2009.
The firm focuses on listed equity, fixed income and alternative investments strategies.
PineBridge will continue to manage assets for hundreds of global investors and limited partners, including AIG, and will remain headquartered in New York.
Chief executive Win J. Neuger and the current management team will continue to lead the company.
PineBridge professionals will be meaningful minority owners and investors in the
