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Citi has hired 13 professionals as part of the ongoing expansion of its global prime finance business.
The recent hires are split between New York and London.
They are focused in the trading and risk areas.
“We are finding that prime finance clients increasingly demand access to a full suite of product offerings and services across the life cycle of the investment process. Along with a comprehensive global presence across research and execution through to finance, custody and fund administration, Citi is in a unique position to take a leading role,” says Nick Roe, Citigroup’s global head of prime
The oil and gas markets are likely to experience a structural shift that will result in these assets becoming more expensive, hedge funds have been told.
Singapore Exchange will offer a futures contract based on the soon-to-be-launched Nikkei Stock Average Dividend Point Index.
Nikkei will begin calculating the index in April 2010.
Subject to regulatory approval, SGX targets to launch the new SGX Nikkei Dividend Point Index futures contract by the third quarter of 2010.
The index is calculated based on accumulated dividends received by investors from constituent companies of the Nikkei Stock Average over a calendar year.
Chew Sutat (pictured), executive vice president and head of market development of SGX, says: “We are pleased to deepen our cooperation with Nikkei, with which we have enjoyed
NYSE Liffe, the Europe-based derivatives business of NYSE Euronext, says its multi-serial options on Euribor have traded over two million lots in two months.
NYSE Liffe launched multi-serial options on Euribor on 19 January to offer further hedging opportunities to customers.
Multi-serial options are long dated non-quarterly delivery months, delivering into quarterly futures.
Since launch, the new Euribor multi-serial options have traded 2.2 million contracts.
The Euribor options market has an average daily turnover of 716,000 contracts in 2010 – a 51 per cent increase on a record 2009 – and open interest currently stands at over 14
Future Capital Partners is hosting a 12 date roadshow for its newly launched renewable transport fuel investment product, Future Fuels.
Attendees of any of the 12 seminars will get the chance to win a year’s supply of petrol courtesy of Future Capital.
The seminars are aimed at IFAs and wealth managers looking to diversify their clients’ portfolios with tax efficient investment products such as EISs or VCTs.
Over GBP10m has been committed by high net worth individuals since Future Fuels was launched in January, and the LLP is seeking to raise a further GBP30m.
Future Fuels is an investment partnership
The former company secretary of Chartwell Enterprises, Ian Rau, has pleaded guilty in the Victorian Supreme Court to eight charges brought by the Australian Securities and Investments Commission.
Rau pleaded guilty to the following offences:
• Carrying on a financial services business without a financial services licence (one count);
• Engaging in dishonest conduct in relation to carrying on a financial services business (four counts);
• Making a false document (one count);
• Using a false document (one count);
• Obtaining property by deception amounting to AUD40,000 (one count).
The charges follow an investigation by ASIC into Chartwell Enterprises which collapsed in April 2008 with
Thomas R. Kadlec has succeeded Richard W. Dodson as president of ADM Investor Services, the Archer Daniels Midland Company’s wholly owned commodity futures brokerage subsidiary.
ADMIS, headquartered at the Chicago Board of Trade, offers futures trade execution and clearing services to retail, commercial and institutional clients.
Other ADMIS offices are located in Kansas City; New York; Hong Kong; London; Mumbai, India; and Taipei, Taiwan.
Kadlec (pictured) has been chief financial officer and controller of ADMIS since 1990 and was promoted to senior vice president in 2007. During his tenure with ADM, he also has served as president of ADM
The US Commodity Futures Trading Commission has obtained more than USD4m in restitution and civil monetary penalties in an order entered by the US District Court for the Northern Division of Georgia against defendants Lake Dow Capital and Ty Edwards, both of McDonough, Georgia.
The CFTC’s complaint charged Lake Dow and Edwards with committing fraud in operating the Aurora Investment Fund, a commodity pool and hedge fund.
Specifically, the CFTC charged that the defendants fraudulently solicited more than USD26m from customers and misappropriated customer funds.
At the same time the complaint was filed, the court entered an order freezing more
Emerging markets such as those in Asia hold a lot of promise for hedge funds, an expert has claimed.
The Cayman Islands Court of Appeal has sent a clear message that winding up petitions should not be used to place undue and improper pressure on companies to accede to investor demands, according to a briefing by law firm Walkers.
The Court of Appeal struck out two winding up petitions presented against a solvent hedge fund and ordered that the investor which had petitioned should pay the fund’s costs on an indemnity basis.
Walkers says this case is important as the Court of Appeal has clarified the very limited circumstances in which a dissentient investor may properly invoke the class
