Solutions
LCH.Clearnet and Australia’s Financial and Energy Exchange Group (FEX), have agreed initial terms for LCH.Clearnet to provide clearing for the FEX Exchange Traded Derivatives Market, subject to regulatory approval.
LCH.Clearnet will clear energy, commodity and environmental derivatives listed on FEX. Participants will benefit from LCH.Clearnet’s global operational capabilities, providing a robust and reliable service during the Asia-Pacific trading day.
FEX is a market infrastructure and services group operating electronic markets for exchange-traded-derivatives, over-the-counter products and Clean-Tech equities. FEX is focused on facilitating and providing access to the rapidly developing and expanding Asian energy and commodity markets, linking local growth with global demand.
JP Morgan has electronically executed and cleared credit default swap (CDS) and interest-rate swap (IRS) trades on Bloomberg’s Fixed Income Electronic Trading platform (FIT). Listed equity option trades were also executed on Bloomberg’s Execution Management system (EMSX).
The trades demonstrate that Bloomberg’s Fixed Income business is preparing to meet the broadly defined requirements of the Dodd-Frank Act, which calls for increased transparency and market efficiency in over-the-counter (OTC) derivatives trading. Bloomberg intends to register with the US Commodity Futures Trading Commission (CFTC) and the US Securities and Exchange Commission (SEC) as a Swap Execution Facility (SEF) and Security Based
For most businesses, having a website is fundamental. Not so for hedge fund managers who have preferred to reinforce their clandestine activities by eschewing a snazzy homepage. This is beginning to change as managers embrace the new era of regulation and compliance says Chicago-based Backstop Solutions Group LLC.
Transparency and clear communications are becoming key requirements. This paradigm shift is helping firms like Backstop Solutions meet clients’ demands within the alternatives space by providing cloud-based solutions.
As the firm’s global head of sales and marketing, Geoff Surkamer (pictured), explains, what makes Backstop unique is that it offers its clients –
Maples Fund Services is using Geneva, Advent’s global portfolio management and fund accounting solution, to provide enhanced services to its clients.
Maples is an independent global fund services provider with assets under administration of USD30 billion. The firm has expanded its services beyond traditional fund administration to offer enhanced reporting and middle-office capabilities. Maples implemented Geneva to link its global offices on a single, real-time portfolio accounting platform. As a result, through the use of Geneva® along with proprietary technology developed by Maples, the firm is able to provide the detailed, timely reporting and middle-office capabilities that investment managers require.
"Alternative fund managers
Algorithmics, a provider of enterprise risk solutions, has launched Algo Strategic Business Planning, a product that provides a banks’ senior management with a comprehensive view of their operations, and the ability to stress, forecast and optimise over a range of possible changes in portfolios and key risk drivers at the enterprise level.
Algo Strategic Business Planning provides comprehensive decision support for those required to manage the complexities of a bank’s risk/return profile, now and over the planning horizon. Allowing the entire banks’ policies and strategies to be measured and analysed in terms of capital consumption, exposure, liquidity and profitability over
Offshore firm Appleby acted as Bermuda counsel for eStats Funds Management Pty Limited (“eStats”) in relation to its establishment of a new Master-Feeder fund structure domiciled in Bermuda.
The Appleby team was led by Jeffrey Kirk, a Corporate Partner in Appleby’s Hong Kong office, assisted by Mark Cummings, Senior Associate. Australian counsel was DLA Philips Fox, Syndey, led by Martin Jamieson.
The funds will utilise their own purpose-built proprietary models that seek profit potential in the microstrucuture dynamics of certain international electronic financial and commodity markets and liquidity pools and targets. The funds ultra-high frequency trading techniques are targetted
Qatar Exchange (QE) has been working on its strategy to enhance the market infrastructure over the last one year. The first major enhancement was the upgrade of its trading technology and model in September, 2010. In continuation of implementing the reforms, QE has adopted Delivery Versus Payment (DVP) rules.
After extensive consultations with market participants, global custodians, international investors and regulators, QE has now issued the new rules and operational procedures for its upcoming DVP implementation.
“These changes to Qatar Exchange’s clearing and settlement process will enhance Qatar’s financial services industry and help Qatar Exchange better serve investors and attract more participants
Eurex Clearing plans to expand its Eurex OTC Clear service to include OTC-traded interest rate and equity derivatives. The new services will be introduced in the context of the upcoming regulatory reforms expected to require mandatory clearing for standardised OTC derivatives in the US and Europe.
Currently, Eurex’s OTC Clear service comprises OTC-traded Eurex look-alike futures and options on equities and interest rates as well as Eurex Credit Clear, a clearing service for OTC credit default swaps. In 2010, Eurex Clearing processed 774 million contracts in OTC-traded products.
“The further expansion of our product coverage is an important part of
Trading during the first ten months of the Financial Year to 31 March 2011 has been positive for Lombard Risk Management and the company is currently trading in line with market revenue and earnings expectations for the full financial year, according to the firm’s latest trading update.
The sales pipeline is encouraging and, if any further deals close before the year end, performance may be materially enhanced.
Significant deals have been won in the past three months with a bank in Germany for the Colline collateral management software and with a European bank for Singapore and Hong Kong regulatory
Quintillion fund administration is providing administration services to the Cayuga Global Macro Fund, an Investment Fund managed by Cayuga Capital Partners LLP.
Rowan Levy, Chief Operating Officer with Cayuga Capital Partners LLP, says: “Quintillion stood out for us on a number of fronts. Through the pre-selection, selection and on-boarding process they distinguished themselves as a high quality offering with a clear understanding of what was required, when and how. Throughout we have found the team pro-active and professional. We look forward to growing with them for many years to come.”
Ken Somerville, Head of Business Development at Quintillion,
