Solutions
The London Metal Exchange (LME) is working with Colt Technology Services to launch LMEnet, a dedicated network providing a fast and secure connection to the exchange’s electronic systems, including LME Clear.
LMEnet will be underpinned by Colt’s dedicated trading network service, PrizmNet, and will support three tiers of connectivity options for LME users according to their performance and latency requirements.
LMEnet also features Colt’s new service-management tool, which enables users to monitor latency and bandwidth use with significantly increased granularity.
“In partnership with Colt, we are delighted to be able to offer LME market participants enhanced performance and
The US Commodity Futures Trading Commission (CFTC) has issued a no-action letter that provides additional time for reporting parties to comply with certain reporting requirements of the ownership and control final rule (OCR Final Rule).
The OCR Final Rule, which was published in the Federal Register on 18 November 2013, requires the electronic submission of trader identification and market participant data on new and updated reporting forms.
These reporting forms collect new information to better identity participants in futures and swaps markets.
The OCR Final Rule requires reporting parties to begin submitting the forms electronically by 15 August
FIX Trading Community, the non-profit financial trading standards body, has extended the Trading Enablement Standard Initiative (TESI) to include foreign exchange (FX) client enablement.
TESI uses FIX protocols to achieve more efficient and standardised communication for trading enablements.
Last year TESI designed and implemented the FIX standard to manage the complex process of enabling clients on fixed income trading platforms. As a result of close collaboration with the FX community, TESI is now available to clients using FX execution platforms for FX spot, forwards, swaps, FX options, NDFs and precious metals trading.
TESI helps reduce errors and improve
A team at University College London (UCL) has evaluated the overnight process that maintains the constant maturity aspect of the GMEX Interest Rate Swap Index Average (IRSIA) Constant Maturity Future (CMF) product as an alternative to interest rate swaps (IRS).
The study, led by visiting professor Donald Lawrence, focused on analysing the cost of the end of day novation to the next day’s forward rate roll, analogous to the carry cost.
It concluded that an average year’s worth of novation cost would not be significant for any tenor during the period analysed.
It further concluded that the total lifetime
Omgeo has partnered with London Stock Exchange Group’s (LSEG) UnaVista to support tri-party matching of synthetic equity swaps between executing brokers, prime brokers and investment managers.
The offering links UnaVista, a global hosted platform for all matching, validation and reconciliation needs, with Omgeo Central Trade Manager (Omgeo CTM), Omgeo’s strategic platform for the central matching of cross-border and domestic equity, fixed income, repos, exchange traded derivative and equity swaps transactions.
The Omgeo CTM/UnaVista solution combines the respective workflows of the two platforms, automatically connecting investment managers on Omgeo CTM with their prime broker counterparties on UnaVista to match the
Linedata has recently signed ten new hedge funds clients globally and has seen strong momentum in its front-to-back deals so far in 2014.
These funds trade alternatives and represent alternative subsidiaries of global institutional banks and asset managers as well as a number of start-ups handling between USD710 to USD1120 million in AUM.
Their primary driving factors for selecting Linedata Global Hedge were to meet growing investor demands, regulatory requirements and a desire to simplify and reduce vendor footprint to one or two key suppliers. Linedata’s new enhanced Portfolio Management Solution was a particular driver in the selection process for these
The Arbitrage Event-Driven Fund, which is advised by Water Island Capital, has been rated 5-Stars Overall out of 94 market neutral funds by Morningstar based on risk-adjusted returns performance.
Morningstar’s Overall rating takes into account a fund’s risk, volatility and returns with the top 10 per cent of funds awarded 5-Stars.
This follows the 5-Star (out of 94 market neutral funds) three-year rating based on risk-adjusted returns.
“We are pleased for the recognition awarded to the Arbitrage Event-Driven Fund. When we launched the fund to the public nearly four years ago, we felt confident that we could effectively
Chatham Financial has launched new services within its consulting practice and ChathamDirect Software-as-a-Service (SaaS) platform to help fund managers navigate the Alternative Investment Fund Management Directive (AIFMD) and the European Market Infrastructure Regulation (EMIR).
Compliance with the new requirements presents significant challenges for the asset management industry, as funds will soon be required to value assets, debt, and derivatives independently from portfolio management.
Beginning 22 July, AIFMD will require registered fund managers, among other things, to independently value all of their assets and liabilities, including derivatives. Firms will also be required to adopt detailed valuation policies and procedures as
The Securities and Exchange Commission (SEC) re-started its rulemaking for security-based swaps (SBS) under the Dodd-Frank Act by adopting a first instalment of rules that are applicable to SBS involving persons and entities located outside the US.
According to an advisory from law firm Katten Muchin Rosenman, the SEC took into consideration many of the comments made on the proposed cross-border rules it issued in 2012, so the rules are different in numerous ways from the proposed rules.
The rules are broadly consistent with the positions taken by the Commodity Futures Trading Commission (CFTC) in its “Interpretive Guidance and
Investors, consultants and hedge fund managers are now able to conduct risk analysis and generate reports on hedge funds' performance and risk via a native iOS Risk-AI Fusion app.
Risk-AI Fusion is the first practical software for risk analysis of hedge funds for iPad. The application provides users with a set of tools previously available only on desktop or web-based platforms.
"Risk-AI Fusion breaks the dependence on desktop/laptop paradigm and enables investors, consultants and fund managers to conduct sophisticated risk analysis of their investments from any location. The app is built based on our practical experience of analysing hedge
