Solutions
CME Group is to launch European Overnight Index futures based on RepoFunds Rate (RFR) benchmarks and the Euro Short-Term Rate (€STR) in Q4 2022, pending regulatory review.
RFR futures will be cash-settled contracts based on RFR benchmarks, a robust measure of overnight funding costs. The benchmarks are derived from centrally cleared repo trades executed on BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets owned by CME Group, and MTS, a leading European electronic fixed income trading platform, part of the Euronext group. RFR benchmarks are administered by CME Group Benchmark Administration Limited (CBA).
Apex Group Ltd has closed its acquisition of Sanne Group (Sanne), a global provider of alternative asset and corporate services for £1.5 billion.
Umbria Network’s Narni bridge, which facilitates the cheap and fast transfer of crypto assets between different blockchains, has added Optimism to its portfolio of bridges.
Optimism, a Layer 2 Ethereum scaling solution that uses Optimistic rollups, has seen significant uptake within the DeFi space and currently has $1.20 billion Total Value Locked (TVL). Using the Narni bridge, users can now onboard to this popular network cheaply and quickly. In testing, Narni produced the following results in comparison to the official Optimism bridge.
Optimism bridge – cost: $0.52 speed: 5 minutes
Umbria Narni Bridge – cost: $0.32 speed: 2.5 minutes
The
The Palm Beach Hedge Fund Association (PBHFA) has partnered with Grassi Advisors & Accountants (Grassi), a provider of tax, audit and accounting services for the financial services industry and high-net-worth individuals.
BitMEX has launched the first ever cryptocurrency FX perpetual swap contracts (FX perps), allowing users to trade an initial 22 contracts on some of the most popular foreign currency pairs 24/7 – even when the foreign exchange (FX) market is closed.
As part of BitMEX’s wider derivatives offering, individuals and institutions alike will be able to trade FX perps with up to 50x leverage.
FX perpetual contracts on BitMEX are margined and settled in either Bitcoin or Tether (ERC-20) and is ideal for traders who want the advantage of derivatives without the difficulty of expiry dates.
Alternative data specialist QuantCube Technology has launched the QuantCube Liquefied Natural Gas (LNG) Commodity Trade Indicator, which tracks the import and export in volume of Liquefied Natural Gas, to provide supply side commodity and energy futures traders with crucial insights at least one month in advance of official data.
Harnessing automatic identification system (AIS) data used by the world’s top exporters and importers, the LNG Indicator tracks the position of tanker ships in real time and is a significant addition to QuantCube’s suite of real-time international commodity trade indicators, which include Crude Oil, Iron Ore, and Coal.
The LNG
iCapital, a global fintech platform driving access and efficiency in alternative investing for the asset and wealth management industries, has completed the acquisition of SIMON Markets. The transaction meaningfully broadens iCapital’s investment menu, technical capabilities, education offerings and support services for advisors and their clients.
Through this acquisition, iCapital will create a single source of alternative investment strategies from nearly 300 asset managers and product manufacturers, adding SIMON’s structured investments, annuities, digital assets and risk-managed products offerings to iCapital’s extensive menu of private offerings including equity, credit, real estate, infrastructure, direct deals, hedge funds, and other alternative strategies.
The combination
OSTTRA’s portfolio reconciliation service, OSTTRA triResolve, is now actively reconciling data received from LCH SwapAgent, part of London Stock Exchange Group (LSEG).
Building on an existing relationship between OSTTRA and LCH SwapAgent, where trades legally confirmed on OSTTRA MarkitWire are registered into the LCH SwapAgent non-cleared service, this collaboration provides enhanced benefits to customers.
LCH SwapAgent is a service designed to standardise and simplify the valuation and settlement of non-cleared OTC derivatives and is now connected to OSTTRA triResolve to enable the reconciliation of member trade data.
Market participants can authorise SwapAgent to send their data directly to
United Fintech, a one-stop-shop for banks, hedge funds, and asset managers, is opening a developer hub in Madrid this week.
Dan James has worked on the sell-side. He’s worked on the buy-side. And now, he’s morphing into the man to know for a job in hedge funds.
