Solutions
Q&A with Jude Scott, Cayman Finance
What is the most important aspect of maintaining Cayman’s reputation as the world’s leading offshore IFC?
The key element that ties together all of our efforts to operate a premier global financial hub for alternative investment funds and a culture of compliance with our laws, regulations and global standards is the world class, legal public accounting, administration fiduciary and asset management professionals that make up the Cayman Islands financial services industry. Our approach as an industry – what we call The Cayman Model — puts extraordinary value on our business culture and the women
The Caribbean Financial Action Task Force’s mutual evaluation of the Cayman Islands at the end of 2017 led to a revision of the jurisdiction’s anti-money laundering (AML) regulations and was the catalyst for the new Cayman AML guidance. The CFATF report recommended enhancing international co-operation, broadening asset freezing powers and offences and expanding the scope of AML regulation.
“These changes to the Cayman AML regime together with the implementation of the Cayman tax information exchange regulations and economic substance legislation are each directed at ensuring that Cayman remains at the forefront of international compliance initiatives,” says Matt Mulry, Partner
Tax transparency and cooperation with international regulators and governments to guard against tax evasion is something that the Cayman Islands takes seriously. It has, after all, Tax Information Exchange Agreements with all major developed countries and shares information with over 100 countries under the OECD’s Common Reporting Standard framework.
Specifically, Cayman has had a TIEA in place with The Netherlands since 2009. That The Netherlands has just decided to blacklist the Cayman Islands (along with 20 other jurisdictions) has understandably surprised people and one wonders what the problem is, given the island’s commitment to adhering to the OECD’s BEPS Inclusive
IHS Markit’s MarkitSERV and Cobalt are collaborating to accelerate the delivery of new post-trade processing services for foreign exchange (FX) markets.
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As part of its alliance with Cobalt, IHS Markit also made a strategic investment in the firm and will partner with Cobalt to sell and deliver the solution.
In working together, MarkitSERV and Cobalt will offer a shared post-trade infrastructure designed to replace legacy technology and manual processes, bringing increased efficiency and reduced operational risk to the FX market.
The alliance unites MarkitSERV’s global network of over 800 FX counterparties and venues with Cobalt’s advanced
Bipsync, a research platform provider for investment management firms, has secured USD7 million in a growth investment round led by Edison Partners. FINTOP Capital also participated in the round.
Proceeds will be used to expand Bipsync’s global footprint and accelerate product innovation, customer success initiatives, and sales and marketing operations.
The funding builds on an exceptional growth period at Bipsync, which has seen three-times year-over-year growth in bookings, over 100 per cent net revenue retention and expansion into new client markets of Limited Partners and allocators. Bipsync’s global client roster now spans the entire investment management industry in asset
Citi and Eaton Vance Management have begun clearing FX Cash-Settled Forwards at CME Group with two Euro/US dollar trades cleared on 15 January 2019.
“CME Group is pleased to clear our first cash-settled forwards, which provide a new capital-efficient way for our customers to trade G10 foreign exchange,” says Sean Tully, CME Group Global Head of Financial and OTC Products. “This first cash-settled trade, combined with the recent increase in our Non-Deliverable Forward clearing volume in late 2018, allows us to work with our clients, clearing members and liquidity providers to help customers mitigate their risks through cleared solutions.”
Liquidnet, a global institutional investment network, reached a new record for volume traded in the Australian market in 2018. Local and international asset managers exchanged via Liquidnet a total of AUD11.8 billion in Australian Equities, up 20 per cent from the volume traded the previous year.
The strong block-trading activity on Liquidnet was pushed by an uptick in the use of algo trading solutions by Australian members, with an increased focus on improving execution quality following the introduction of MiFID II in January 2018.
Liquidnet Head of Australia, Kate Weidenhofer (pictured), says: “We’ve had great success in helping asset
Trillium announced today that leading futures broker Wedbush Futures will now use Trillium’s Surveyor platform for trade surveillance.
“I have worked with several surveillance products over the last couple of years and I am truly impressed with the seamless on-boarding process. We are fortunate to work with Trillium,” says Scott Lamm (pictured), VP of Surveillance, Business Conduct at Wedbush Futures.
“We welcome Wedbush Futures to our growing Surveyor customer base and share in their excitement about this partnership. Surveyor offers its users next-generation detection, visualisation, and workflow functionality to keep up with the demands of current-day trade surveillance. All
In 2017, investors allocated almost USD120 billion into private debt funds, on the back of approximately USD100 billion being raised in 2015 and 2016. To better understand the context into which investors are deploying such large amounts of capital, SEI and Preqin conducted a survey of private debt fund managers in mid-2018.
Cayman Islands Investment Group has announced the development of a brand new Digital Asset Trading Platform based in the Cayman Islands.
“We are truly excited to present the world with a new platform,” says Corvin Mclean Jr, Managing Director at Cayman Islands Investment Group Ltd.
Results from a recent survey indicate that many traders see the benefit of the availability of CIIG’s exchange. The ease of access and rich knowledge of the members of the CIIG technology team promises to give users a pleasurable and diverse experience. It is set to be one of the newer blockchain-related projects to
