Solutions
The Commodity Futures Trading Commission’s (CFTC’s) Office of General Counsel has issued a no-action letter on June 28, 2011, permitting the offer and sale in the United States of Bursa Malaysia Derivatives Berhad’s futures contract based on the FTSE Kuala Lumpur Composite Index (KLCI).
The KLCI is a broad-based, free-float, market-capitalisation-weighted, composite index of 30 highly capitalised and actively traded stocks currently listed on the Main Board of the Bursa Securities Berhad. The Index provides a performance benchmark for the Malaysian equity market. As of May 17, 2011, the total adjusted market capitalisation of the KLCI was approximately USD265 billion.
BNY Mellon Asset Servicing, the global leader in investment servicing, has been appointed by Barclays Wealth Funds Limited to provide transfer agency and fund accounting services to UK-domiciled assets valued at GBP4bn (USD6.4 million).
The new mandate builds on BNY Mellon’s existing long-standing relationship with the client, and increases total Barclays Wealth fund assets under custody and administration by BNY Mellon to 17bn pounds.
The addition of these assets to Barclays Wealth Funds Limited as the Authorised Corporate Director and Unit Trust Manager also demonstrates Barclays’ ongoing commitment to building its presence in the UK investment market.
David Dalton-Brown
Quintillion has been chosen to provide administration services to the Da Vinci CIS Opportunities Fund. The Cayman based hedge fund, which is managed by Guernsey domiciled Da Vinci Capital Management Ltd, invests in listed securities focusing on Russia and the CIS region.
Quintillion will provide the fund with a complete range of administration services, including NAV calculation, investor servicing, anti-money laundering checks and financial reporting.
Eoghan McAteer, Senior Manager at Quintillion. says: “We are extremely happy to welcome Da Vinci CIS Opportunities Fund on board and look forward to continuing to work with its award winning team."
Mikhail Evdokimov,
Pershing LLC, a BNY Mellon company, has added more than 20 new providers to its ValueAlliance program. ValueAlliance offers Pershing’s introducing broker-dealer, independent registered investment advisor (RIA) and hedge fund customers preferred pricing and access to solutions from a network of third-party firms and consultants.
ValueAlliance program providers represent a broad range of services and solutions to address firm challenges pertaining to human capital, long-term succession planning, marketing, compliance, insurance services, finance and mergers and acquisitions.
"The ValueAlliance program complements Pershing’s practice management program, and this expanded network of providers enhances our customers’ access to solutions, tools and resources that
Broadridge Financial Solutions, Inc has launched its post-execution processing solution for prime brokers and investment banks. Based on the market leading multi-currency trade processing and settlement platform, Gloss, the new solution offers international transaction settlement and real-time custody and financing services, enabling firms to boost reporting transparency and increase efficiency of operational processes.
Gloss’ new capabilities allow prime brokers to offer full settlement services to buy-side investment firms and hedge funds, automating security and currency transaction processing, enabling firms to manage books and records in real-time and facilitating efficient asset servicing. In addition, the solution offers clients global multiple central
NYSE BondMatch, BYSE Euronext’s new Multilateral Trading Facility (MTF) designed to meet European user needs for transparency, liquidity and effective pre- and post-trade services on the euro-denominated bond market, has received regulatory authorisation and will begin trading on July 11, 2011.
“ We are very happy to announce the launch of NYSE BondMatch, a revolutionary order book-driven bond market that promises to bring real reform and new liquidity to corporate bonds trading in Europe,” says Roland Bellegarde (pictured), NYSE Euronext’s Executive Vice President for European Listing and Cash Trading.
NYSE BondMatch will enable professional investors to trade more
The number of agricultural derivatives traded on Eurex has exceeded 100,000 contracts since their launch in July 2009. Volume has been increasing steadily, partly due to the volatile weather conditions in 2011 and 2010.
Year-to-date, the average daily volume (ADV) is above 300 contracts, or around 38,000 contracts in total. In June 2011, the ADV stands at almost 400 contracts. In 2010, the ADV was around 200 contracts.
Eurex offers six agricultural futures based on butter, European processing potatoes, hogs, London potatoes, piglets and skimmed milk powder. All futures are based on established reference prices from the respective spot markets
Altarius Asset Management Limited, the Malta-based asset management branch of Altarius Group, today announced the launch of its Fund Platform, PARAGON S.I.C.A.V. plc (PARAGON) which is one of Malta’s first independent fund platforms exclusively open and dedicated to third party managers and Family Offices.
Registered as a PIF. (Professional Investment Fund), PARAGON is highly flexible with regard to investment strategy, liquidity, reporting and leverage. One of PARAGON’s key benefits is that it does not attract income or capital gains tax.
Amongst its many strengths PARAGON has an open-architecture which allows clients the opportunity to nominate their own service provider.
Responding to growing market demand for European domiciled investment fund products, and the emergence of Dublin as a centre for alternative investment products, DMS Management Ltd (DMS) has opened a new office in Dublin, Ireland.
Led by Irish resident principals Derek Delaney and Don Ebanks, and leveraging DMS’ global fund governance platform, DMS Ireland is ideally positioned to help fund sponsors grow their asset management businesses by establishing UCITS, QIFs, SPVs and other European products to attract European and other international investor clientele.
As residents of Ireland, Delaney and Ebanks are able to serve as directors to a wide range
Wealth manager and ETF specialist SCM Private has marked its two year anniversary with the launch of the SCM Private Bond Reserve Portfolio and fee reductions that continue its philosophy of putting investors first.
The SCM Private Bond Reserve Portfolio will invest primarily in cash, corporate bonds and emerging market debt, through ETFs, and offer investors a number of advantages over traditional bond funds, including low annual management fees of just 0.3%+ VAT through an IFA, and 0.5% + VAT for direct clients, as well as a solid yield potential with the underlying average flat yield of the bonds currently
