Solutions
Topix Futures will be available for trading on NYSE Liffe from 18 October, making the benchmark index available in both Tokyo and London.
The Tokyo Stock Exchange’s Topix (Tokyo Stock Price Index) is the most popular index for benchmarking Japanese equity portfolios, and Topix Futures are already actively traded by investors worldwide.
The NYSE Liffe launch of Topix Futures will increase the number of potential investors who can access these products, particularly outside Asia. The NYSE Liffe market will remain available for trading for 11 hours (ten hours during British Summer Time) following the close of the TSE market.
NYSE Euronext says global derivatives average daily volume reached 7.7 million contracts traded per day in September 2010, up 4.8 per cent versus the prior year and 22.5 per cent from August 2010.
The increase in global derivatives ADV versus prior year levels was driven by a 15.9 per cent increase in US equity options ADV, partially offset by a 2.7 per cent decrease in European derivatives ADV.
Cash equities ADV in September 2010 was down, with European and US cash trading volumes decreasing 5.2 per cent and 24.6 per cent, respectively, compared to prior year levels.
NYSE Euronext
InfoHedge Technologies, a provider of IT services and solutions to the alternative investment industry, is celebrating the five year anniversary of its flagship product, InfoHedge Hosted Platform.
The platform delivers an enterprise grade technology platform over the wire from SAS 70 Type II facilities on a flat fee subscription basis.
It contains embedded disaster recovery and compliance features coupled with a standard due diligence reply document.
“We are proud of our results and accumulated intellectual property,” says Alexander Kouperman, founding principal and president of InfoHedge. “With over 150 hosted clients and a combined hedge fund client base that manages
LCH.Clearnet has enhanced the clearing functionality of its CDS offering in line with best market practice.
These enhancements, which have been designed and tested in collaboration with its clearing members, include:
• Refinements to the risk management framework
• Integration of the DTCC’s new automated credit events procedures (implemented 4 October 2010) and
• Implementation of CLS system connection for product related cash flows settlement
Christophe Hémon, chief executive, LCH.Clearnet, says: “The collaboration and dedication of our clearing members is critical to the enhancement of our services. We seek to build clearing models which fit with current market practices and which answer our
Citi’s global transaction services business has launched its direct custody and clearing services to clients investing in Bahrain through the Bahrain Stock Exchange.
With the opening of the Bahrain direct custody and clearing branch, Citi’s network will now comprise 58 markets, of which 32 are in Europe, the Middle East and Africa.
Citi will now service the Bahrain Stock Exchange’s investors by offering custodial services in the market for BSE-listed securities. Services include account management, settlement of securities activity, handling post-trade issues, the collection and payment of dividends and interest, and the processing of corporate action activities in the market.
The traditional summer slowdown in August failed to materialise on the secondary hedge fund market, as Hedgebay registered its highest volume of trading for the year.
Despite the increased volume, the average price for assets on the secondary hedge fund market fell slightly for the third month running.
The average price for trades on Hedgebay’s Secondary Market Index stood at 74 per cent, continuing the marginal retreats of recent months.
With investors’ priorities focussed on portfolio clean up, the majority of trading once again took place within gated and suspended funds.
While the trading dynamics of recent months persisted, the
Newedge, a multi-asset clearing and brokerage firm, has executed and centrally cleared over USD2bn in client interest rate swaps on the Eris Exchange platform, an exempt board of trade under CFTC regulation, with clearing services provided by CME Clearing.
Newedge connected to Eris Exchange in August 2010 for the purpose of broking between exchange members to execute client interest rate swaps.
Counterparties executing OTC interest rate swap transactions can reduce their risk by trading on Eris Exchange with Newedge as their executing and clearing firm.
The Eris Exchange interest rate swap futures product is designed to model a standard fixed
Agio Technology, a provider of managed IT services for hedge funds, will kick off the Agio iPad Challenge for hedge funds on 1 October through 30 November.
The purpose of the challenge is to collect hard data on how the iPad is used in the hedge fund space.
Agio’s iPad Challenge participants include funds ranging from USD50m to USD1bn AUM.
“We believe the advent of the iPad will bring about a noticeable shift in the dynamic IT environment of hedge funds,” says Bart McDonough, chief executive. “We are looking to the iPad Challenge to provide valuable insight into how the
Sturgeon Ventures has appointed Tom Powell as chief operating officer and investment adviser and has launched a “Virtual Chief Operating Officer” service for clients.
Sturgeon specialises in helping entrepreneurs establish start-up financial services businesses in the institutional and wealth management space.
The new service is a project management tool for start-ups in the UK and foreign companies wishing to set up operation in London.
Sturgeon’s client list includes oil and gas advisory firm Wimmer Financial, US-based M&A consultancies such as Moelis and Harris Williams and venture capital platform Venture Capital Partners.
Seonaid Mackenzie, managing partner of Sturgeon, says: “We are
Lombard Risk Management, a provider of software solutions for collateralised trading, liquidity and regulatory compliance, has won a new contract with SEI, an operational outsourcer.
SEI will be using Lombard Risk’s collateral management software product, Colline, to assist delivery of its new collateral management service for its asset manager clients’ over-the-counter derivative portfolios.
Through Colline, SEI will perform the daily collateral management functions on behalf of its clients, who will also be able to access Colline to gain a consolidated view of daily deliverables, analyse counterparty exposure and run a variety of standard and customised reports.
Using Colline’s automated workflow,
