Solutions
By Simon Gray, BVI Finance – While the popularity of the British Virgin Islands (BVI) as a centre for hedge funds is testament to the ease and cost-effectiveness of establishing funds in the jurisdiction, the quality and sophistication of its legislative, regulatory and judicial framework is also a significant reason for managers choosing to set up their funds in the BVI.
Litigation against hedge funds is a rarity in the sector, but that is not to say that hedge funds are immune from legal proceedings. With the rise of more onerous international regulations, coupled with hedge funds being used by
The theme of digitalisation took centre stage at the annual Meet the Regulator Forum held by the BVI’s financial regulator, the Financial Services Commission (‘FSC’) this July. During the forum, Deputy Managing Director, Corporate Services of FSC, Jennifer Potter-Questelles emphasised the importance of embracing digitalisation, stating that “digitalisation is our ticket” and that as the FSC continues to innovate, so the industry is encouraged to do the same at all levels of their organisations.
With close to 1,500 registered funds, the British Virgin Islands (BVI) is a leading offshore domicile with hedge fund managers from all over the world choosing the jurisdiction to set up and manage their businesses.
The popularity of BVI funds is testament to both the ease and cost-effectiveness of establishing business in the jurisdiction, as well as the quality and sophistication of the BVI’s legislative, regulatory and judicial framework.
This is reflected in the confidence hedge fund managers have in the jurisdiction as a result of our longstanding reputation as a respected globally integrated international business and finance centre.
Our
Saxo Bank Securities (Saxo Bank Japan), an investment and trading specialist, has gone live with the first phase of its migration to Torstone Technology’s Inferno.
Saxo Bank Japan has replaced its legal ledger legacy system with Inferno to support regulatory reporting on the cloud for its existing and new equity business. Through Inferno, Saxo Bank Japan is able to reduce operational risk and ensure quick and efficient post-trade reporting processes while achieving compliance with Japan’s regulatory requirements.
Inferno’s cloud-based infrastructure is modular which facilitates Saxo Bank Japan’s phased migration to a complete middle and back office solution by allowing the
Avelacom, a global connectivity and IT infrastructure provider for the financial services industry, has launched its multi-cloud connectivity solution to simplify and accelerate how traders connect to cryptocurrency exchanges.
The solution delivers secure, direct and ultra-low latency access to cryptocurrency exchanges hosted in Alibaba Cloud, Amazon Web Services (AWS), Microsoft Azure and Google Cloud platform.
Proprietary trading firms, hedge funds and other professional currency traders can access multiple exchanges, with a consistent experience delivered via a single provider. Users benefit from rapid access to pricing data, while gaining a competitive advantage by executing orders faster than other market participants.
As asset owners and allocators look to gain greater transparency and analytical insights on their multi-asset class portfolios, technology platforms are being sought out to build strategic partnerships. One recent example of this was State Street Corporation, which announced on 19 September that it had partnered with Solovis to improve transparency, alleviate complexity and streamline performance tracking and regulatory reporting for clients.
Solovis is a multi-asset class portfolio management, analytics and reporting platform and was founded six years ago by Josh Smith, the current CEO, and Caleb Doise.
As institutions ramp up their exposure to alternatives, led by private equity,
Velocimetrics, a provider of business flow tracking and real-time, in-stream performance analytics, has made significant enhancements to the new version of its VMX EndToEnd product suite.
Having earlier this year launched VMX v9.0, the new v9.2 version is set to continue building on the firm’s unique offering and making powerful data lineage even more accessible and easier to use. VMX is already used by many financial institutions.
The new Context Navigation Panel allows the user to move from the low-level, network packet-capture, to high-level statistics, individual business items, and everything in between.
Steve Colwill, Velocimetrics CEO, says:
Crypto market activity slowed significantly during the third-quarter following the summer bull run in crypto asses, but it’s settled at levels notably higher than the previous 12 months, according to a new report The State of Crypto: Bitcoin, Altcoins & Blockchain by the Numbers.
The report, released by StateOfCrypto.io, reveals that approximately 10 per cent of American adults, or roughly 24.9 million individuals, already own Bitcoin. The number has almost doubled over the last 12 months, and it’s likely to double again over the next 24-36 months. Worldwide, more than 100 million individuals already own crypto assets.
In addition, almost
A recent trade surge in trading volume has propelled crypto trading and exchange platform PayBito into the top three in the USA, the copmpany says, ahead of both Kraken and Bitfinex.
As of 22 November, 2019 the exchange is running a trading volume of USD238,568,498 (as per CoinMarketCap).
PayBito, which has been showing consistent growth in trading volume, aims to offer a seamless experience to users. It is Segwit enabled and has liquidity integration with major exchanges, as well as advanced features like two-factor authentication with Firebase, GA, and BIP-32, pending transaction handling, and block confirmation tracking. The exchange offers
Independent fund administrator Opus Fund Services has acquired the fund administration unit of Advanced Fund Administration (AFA), which has offices in the Cayman Islands and New Jersey.
Robin Bedford (pictured), CEO of Opus Fund Services, says: “This is the result of many months of hard work by both parties. We are excited to have the opportunity to work with the AFA client base as they become part of the award-winning Opus proprietary platform.”
Prior to today’s announcement, Advanced Fund Administration provided multiple lines of business to its hedge fund clients consisting of legal, advisory and compliance services. Peter Young,
