Solutions
SEI has expanded its middle office outsourcing services to include collateral management for over-the-counter derivatives.
It says this will provide asset manager clients with a more automated, controlled and independent method by which to manage their counterparty exposure.
As part of this solution, SEI will perform the daily collateral management functions on behalf of its clients, including managing and electronically storing legal agreements; calculating and communicating calls, recalls, and releases; issue resolution; and calculating and notifying interest on collateral.
Additionally, SEI has entered into a partnership with Lombard Risk, a provider of collateral management, to integrate its Colline system into
Cobalt and molybdenum have made an encouraging start to trading on the London Metal Exchange with volumes, liquidity and open interest building well since the launch on 22 February this year.
To date, 4,047 lots of cobalt have traded (equivalent to 4,047 tonnes/USD161m).
Molybdenum trading has seen 321 lots traded (equivalent to 1,926 tonnes/USD69m).
At the close of 19 August, market open interest – which is published by the exchange two days in arrears – in cobalt had grown to 406 lots (406 tonnes), while open interest in molybdenum stood at 41 lots (246 tonnes).
Nine cobalt brands have been
Quintillion, a hedge fund administration firm, has completed the integration between HWM Mantra, its investor registration and incentive fee calculation system, and Advent Geneva, its accounting platform.
The integration allows for the automatic transfer of profit and loss allocations from Geneva directly into Mantra.
HWM Mantra has been designed to meet the business and technological challenges that have been driven by the rise of increasingly complex and sophisticated alternative fund markets.
The integration enables Geneva to feed all of the fund’s portfolio general ledger balances directly into Mantra, mapping each line item across the fund’s individual classes or series. This
Spectron, the commodities brokerage, has extended its market coverage to include European fuel oil.
A nine-strong team of experienced brokers, previously of MF Global, has joined Spectron and will be starting operations from its London office on 1 September.
The team will be headed by Danny Fenn.
“We are delighted to be joining Spectron — and are now part of not only the most energy-focused of all the major global brokerages, but one which also has a fantastic reputation for customer service; it is great news for us and for our clients,” says Fenn.
“This is a very exciting hire
Fidessa group, a provider of trading, connectivity and market data solutions for the buy-side and sell-side, is providing connectivity to Chi-X Japan through its global FIX network.
This will allow users of Fidessa’s trading products, as well as clients connected to Fidessa’s global network, to access the liquidity and market data available from this new venue.
Chi-X Japan, a subsidiary of Chi-X Global, is the first Chi-X venue to launch in Asia and the latest proprietary trading system in the Japanese equity market.
Chi-X Japan’s matching engine serves as the foundation for the alternative trading venue for broker-dealers and
The Commodity Futures Trading Commission’s Office of General Counsel has issued a no-action letter permitting the offer and sale in the US of Turkish Derivatives Exchange’s futures contract based on the Istanbul Stock Exchange 30 Stock Index.
The ISE-30 is a broad-based, free-float, market-capitalisation-weighted, composite index of 30 highly capitalised and actively traded stocks currently listed on the National Market of the ISE, accounting for 70 per cent of Turkey’s market volume and market capitalisation.
Integrated Capital Solutions has launched a managed investment platform to rank and track some of the world’s leading trading advisers and create single or multi CTA portfolios.
Tyler Wood, Integrated’s chief executive, says many of the redemptions that came out of the hedge fund industry are re-entering the market as managed accounts via commodity trading advisers.
"Managed accounts allow investors to keep the funds in their own clearing account and allow the CTA or a multi CTA portfolio to trade the account. Not only do investors have 100 per cent transparency to the trading activity in their account, there are
Research and consulting firm Carbon360 has launched the Fund Administration Market, a service designed to aid fund managers with the selection of fund administrators.
The free service matches fund managers with the best-qualified administrators for their needs.
It also aims to reduce the cost of search and implementation, and minimise the noise made during a typical selection process.
Upon registration, managers are requested to complete one service worksheet listing their requirements and preferences regarding administration services. The Carbon360 team then identifies the most compatible administrators using their knowledge of the fund administration industry.
All participating administrators, currently numbering over 30,
J.P. Morgan has become a general clearing participant in EuroCCP, which provides clearing and settlement services for a range of European markets.
J.P. Morgan will be able to offer its clients the ability to trade on any of the venues for which EuroCCP clears, including Turquoise, SmartPool, NYSE Arca Europe and Pipeline, through its GlobeClear single access point for clearing, settlement and custody services in international markets.
Market participants can have their transactions netted through EuroCCP for settlement and margin purposes, thereby reducing costs and operational risks.
“We are pleased that J.P. Morgan has chosen to join EuroCCP,” says Diana
Singapore Exchange is consulting the public on its proposal to extend its central counterparty clearing services for over-the-counter traded financial derivative contracts to participation from non-bank financial institutions.
On 21 April 2010, SGX made a proposal to allow bank clearing members to participate in the clearing of OTCF contracts through SGX-DC.
SGX is now proposing to admit non-bank financial institutions as general clearing members to clear their proprietary positions in similar contracts once admission and other relevant requirements are satisfied.
The admission of general clearing members to clear OTCF contracts is subject to the following additional requirements:
• A holding company
