Solutions
NAB Asset Servicing (NAS) has gone live on Calastone, the fund transaction network for the managed fund industry.
More than 40 per cent of Australia’s fund managers are now available for transacting over the electronic network.
NAS is Australia’s largest asset servicing company. Shannon Sweeney, Calastone managing director – Australia, believes its connection to the network means the critical mass of the Australian funds industry is now capable of transacting electronically.
“This is an incredible advancement for the Australian industry, which just 12 months ago was completing these transactions exclusively by fax,” she says. “Calastone has overseen the automation of
Multi-asset brokerage and clearing specialist Newedge has cleared its first OTC interest rate swap (IRS) contract.
The transaction is also the first to be cleared on CME Clearing by a non-traditional OTC swap dealer.
The clearing process is supported with a default management agreement between Newedge, a futures commission merchant member of CME, and its two bank shareholders – Societe Generale CIB and Crédit Agricole CIB.
Nicolas Breteau (pictured), chief executive at Newedge, says: “Driven by new regulation, the market for OTC clearing is transforming. Such change provides a real opportunity for us as an agency broker to leverage
Krusen Capital Management, the New York-based SEC-registered investment adviser, has selected the HedgeMark Managed Account Platform.
Krusen will use HedgeMark, an affiliate of BNY Mellon, to provide its clients with access to hedge fund transparency and risk reporting tools.
HedgeMark’s risk analytics technologies support its evolving hedge fund managed account programme. HedgeMark’s core services include daily risk reporting, data aggregation and a range of fully integrated fiduciary services.
Charles Krusen (pictured), chief executive, sees a paradigm shift in traditional portfolio management, with hedge funds increasingly being used to reduce overall portfolio volatility while enabling investors to achieve more consistent
Online multi-asset investment specialist Saxo Bank is re-launching its MetaTrader 4 (MT4) platform with a new name, SaxoMT4.
SaxoMT4 actively targets the large segment of clients accustomed to the specific trading environment of MetaTrader, as well as the increasingly popular algorithmic trading segment.
Alongside a retail offering, Saxo Bank will provide a full institutional service through its French subsidiary Saxo Banque, reducing the need for an expensive and dedicated IT team. SaxoMT4 allows hedge funds to concentrate on their core trading strategies. Saxo Banque France will also cater for asset managers and other introducing broker relationships.
Launched through
Emerging markets hedge funds posted strong gains to conclude 2012, which continued through early 2013, as stimulus measures in developed markets contributed to EM currency and equity market gains.
The HFRX Multi-Emerging Markets Index gained 13.1 per cent for 2012, including a gain of 4.8 per cent in 4Q, with contributions across each of the BRIC (Brazil, Russia, India, and China) economies.
Hedge fund capital invested in emerging markets increased by USD11.2bn during the fourth quarter of 2012 to a record of USD139bn, according to the latest HFR Emerging Markets Hedge Fund Industry Report published by HFR. Net capital inflows
The European Energy Exchange (EEX), in its capacity of the transitional auction platform for the Federal Republic of Germany, has cancelled Friday’s auction of EU Allowances (EUA) for the third trading period, because it would have cleared below the reserve price.
The auction volume will now be evenly distributed over the next four scheduled auctions.
The auction calendar will be adjusted and an updated version will be published soon.
Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, finished January up 2.07 per cent, with nine out of 10 strategies in positive territory.
In total, the industry saw estimated outflows of approximately USD9.3bn in January, bringing overall assets under management for the industry to approximately USD1.78trn.
The multi-strategy and equity market neutral sectors experienced the largest asset inflows on a percentage basis, with inflows in January equal to 0.78 per cent and 0.19 per cent of the December 2012 levels, respectively.
Event driven funds sustained positive performance in January from a combination of situation specific
The international derivatives marketplace Eurex Exchange will start listing new derivatives on global MSCI indices on 11 March.
From this date, futures and options based on the MSCI World, MSCI Europe, MSCI All Countries Asia Pacific ex-Japan and futures on the MSCI Frontier Markets will be available.
Other derivatives on regional and country-specific MSCI emerging markets indices will be launched in July this year. A total of around 30 new index derivatives will be launched in two phases. The two planned product launches will grow the existing offering of equity index derivatives, which currently covers 70 different indices, to around
ConvergEx Group’s order management system, the Eze OMS, has achieved a third consecutive year of record-setting growth.
New Eze OMS customers, including exchange-traded fund providers, institutional asset managers, endowments, hedge funds, and wealth advisory firms were added across Europe, Asia, Australia and the Americas.
"This year, we have demonstrated tremendous growth on multiple fronts. We opened new offices in Rio de Janeiro and Dallas, set a record for the number of new OMS sales and experienced record growth in the adoption of additional products and modules among our existing customers," says Tom Gavin (pictured), chief executive officer of ConvergEx’s Eze
The International Capital Market Association (ICMA), a trade body for the international debt capital markets, has published a legal opinion on the enforceability and validity of the Global Master Repurchase Agreement (GMRA) in Russia.
The GMRA is the most widely used legal agreement for documenting cross-border repo transactions and is also used in many domestic repo markets.
ICMA commissions legal opinions from law firms every year on the enforceability of the GMRA, its transfer of title provisions and its netting in insolvency mechanism for transactions with banks and other entities. For the first time the Russian opinion joins legal
