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The US Commodity Futures Trading Commission has made further amendments to the terms under which ICE Futures Europe is permitted to make its electronic trading and order matching system
Australian financial services provider Macquarie Group and China Everbright, a diversified financial conglomerate, have entered into a joint venture to establish two funds to invest in
Movements in equity, credit and commodity markets all contributed to positive performance for hedge funds in July, according to Credit Suisse Tremont.
The Credit Suisse/Tremont Hedge Fund Index finished up 2.54 per cent for the month, bringing year to date performance to 9.90 per cent.
According to a report b the company, hedge funds capitalized on a broad set of opportunities across equity, credit, commodity and currency markets in July.
Directional, relative value and global macro strategies were the strongest performers for the month.
Convertible arbitrage added a seventh month of positive monthly performance, posting 5.8 per
Managed futures struggled in July, ending the month in negative territory as market trends were too short-lived for managers to identify and profit from them, according to a report by L
Eurex, the international derivatives exchange, says its four agricultural derivatives can now be traded in the US under the current Eurex no-action letter from the US Commodity Futures
TMF Group has expanded in Australia through the acquisition of Kingsway Taitz Fund Administration.
Advanced Analytical Consulting Group has launched Scientific Fraud Detection, a product that aims to help funds monitor regulatory compliance and identify fraudulent behaviour.
The London Metal Exchange says USD1bn in steel billet has been traded on the exchange by industry since the contract was introduced in February 2008.
This equates to more than 2.2 million tonnes of steel billet in physical material.
The USD1bn milestone was achieved in the afternoon of Wednesday 19 August, and follows strong trading activity in July with over 3,500 contracts traded, equivalent to 229,000 tonnes of steel – a record month for LME steel billet this year.
August is also on track to be another strong month with 2,413 contracts and 156,845 tonnes of steel billet
The most common causes of hedge fund operational failure are theft and misappropriation, according to a report by Castle Hall Alternatives, a provider of operational due diligence.
The estimated July 2009 return for the Newedge Volatility Trading Index is 0.66 per cent, compared with -0.25 per cent the previous month.
