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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
Australian Fund Monitors’ two model equity portfolios posted disappointing results in February with concerns that January’s sell off would continue not coming to pass and the half yearly reporting season showing the importance of stock picking in the current market.
The E5 portfolio fell by 2.04 per cent in February, while the E10 portfolio fell 0.97 per cent.
The A5 Alternative Portfolio fared better, posting a marginally positive return of 0.09 per cent.
Since inception in October 2006, overall performance from all three multi manager portfolios continue to provide strong annualised returns with low downside and standard deviation.
RiskMetrics Group, a provider of risk management and corporate governance services, is to partner with Syncova, a margin management services provider, to deliver a solution for risk based margin management via the Optima platform for hedge funds and prime brokers.
Kaylash Patel, head of institutional business EMEA, RiskMetrics Group, says: “Leveraging RiskMetrics Web Services, Optima platform users will receive seamless delivery of integrated, intraday risk and margin analysis, which will enable them to generate interactive and customisable real-time reports across multiple asset classes.”
Liam Huxley, chief executive of Syncova, adds: “Prime brokers and hedge funds will both benefit from the
Microtune has reached an agreement with Ramius and its affiliates relating to the election of directors at Microtune’s 2010 annual meeting of stockholders, which will take place no later than 20 May 2010.
Under the settlement agreement, Microtune and Ramius have agreed upon a slate of nominees, including Drew Peck, a semiconductor analyst and consultant; Robert Rast, a principal at Tsar Digital; and Raghu Rau, formerly a senior vice president at Motorola, to stand for election as new independent directors on the Microtune board.
Two current Microtune directors, Walter S. Ciciora and William P. Tai, who have served as directors
