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Deutsche Börse has completed its review of potential measures to further increase the efficiency of the group and has resolved the next phase of a multi-year programme to optimise operational processes and structures across the group.
The objective of the programme is to improve flexibility and effectiveness of using resources across the group, to reduce time to market, and to further increase its efficiency while at the same time identifying and realising new growth opportunities.
The company expects additional savings in operating costs of around EUR100m per year. This programme complements the cost measures initiated between 2007 and February 2010.
Standard Life Investments says its clients will soon be able to access a wider range of alternative assets after announcing its intention to acquire a 75.1 per cent stake in Aida Capital.
The acquisition of Aida will be subject to Financial Services Authority approval.
Aida Capital is a London based, FSA registered fund of hedge funds manager. Clients range from high net worth individuals, wealth managers and institutional investors from within and outside the UK.
Aida currently manages the Aida Open-¬Ended Fund, a Guernsey listed investment vehicle and the Aida Closed¬-Ended Fund, an investment fund listed on the London Stock
Quantifi, a provider of valuation models and risk management software for the global credit and interest rate markets, has been selected by Pine River Capital Management, an alternative asset management firm, for pricing and analysis of global credit products.
Pine River, which has offices in Minnesota, New York, San Francisco, London and Hong Kong, has over USD1bn of assets under management.
Rohan Douglas (pictured), founder and chief executive of Quantifi, says: “We are very pleased to be selected by Pine River, a highly regarded manager that has developed a strong reputation in the relative value space. Quantifi XL has established
A leading financial services organisation has announced the launch of an ETF fund in the Asian market.
A leading organisation has praised the Financial Services Authority’s statement on the Mortgage Market Review feedback, those looking at real estate investment trusts (Reits) may be interested to disc
Leaders of the European fund industry are calling for action from the European Union authorities because they fear that the success of the Ucits ‘brand’, which has enabled EU-domiciled retail funds to be sold all over the world, is under threat from the use of the structure by hedge fund managers.
The past few weeks and months have seen a wave of new launches of so-called ‘Newcits’, which exploit the ability of Ucits managers to use derivatives and a limited amount of leverage to mimic hedge fund strategies.
But there is growing concern among industry organisations that the
A trader at the London-arm of New York hedge fund Moore Capital is one of the six men arrested on Tuesday morning in a series of early-morning raids on 16 addresses in London, Oxfordshire and the south east of England.
A statement issued by Moore late on Tuesday afternoon confirmed that FSA representatives had been at the firm’s London offices to serve a search warrant for documents relating to an employee of Moore Europe working as an execution trader on its London Equity Execution desk. It also stated that the investigation of the employee does not involve any of the funds
Investment strategies and post-crisis global positioning will be the focus of the Channel Islands Stock Exchange’s second International Business Summit, which is scheduled to take place on September 10 at the Hotel de France in St Helier, Jersey.
Speakers at the event will include Angela Knight, chief executive of the British Bankers’ Association, Paul Mortimer Lee, global head of market economics at BNP Paribas, Colin Powell, chairman of the Offshore Group of Banking Supervisors and advisor on international affairs for the States of Jersey, and economist and author Roger Bootle.
According to CISX chief executive Tamara Menteshvili, the conference aims
Derivatives exchange Eurex will offer trading of two futures based on butter and skimmed milk powder in Europe at the end of Q2 2010.
Both futures are based on established reference prices from the respective spot markets and will be settled in cash.
“We along with major market participants believe that the volatility of dairy markets will increase over the next few years. The use of derivatives to hedge against higher prices and fluctuating costs is expected to rise, thus the introduction of our new futures is a logical step,” says Peter Reitz, member of the Eurex executive board. “We
Fund company executives’ top concern is the data integrity in their fund reports, according to a Confluence Global Fund Administration survey.
More than 130 executives from Europe and North America cite data integrity as their top back-office challenge.
Confluence released this and other findings of its 2010 survey of US, Canadian, and European executives involved in fund administration during the Association of the Luxembourg Financial Industry’s Spring Conference on 23-24 March 2010.
“As investors call for increased transparency and regulators step up reporting requirements, fund companies face greater pressure to make more information available more frequently,” says Kirk Botula,
