Wed, Apr 26, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Pelagus Capital Fund clears its first trades on Newedge’s OTC Clearing Service

Wednesday, September 04, 2013
Opalesque Industry Update - Pelagus Capital Fund LP and Newedge, a global leader in multi-asset brokerage and clearing announced that the fund has cleared OTC interest rate swaps (IRS) at LCH.Clearnet’s SwapClear using Newedge’s SwapClear Clearing Membership, which operates alongside its Futures Commissions Merchant membership.

Pelagus, an award winning fixed income relative value fund, already cleared OTC trades on LCH SwapClear to comply with OTC clearing requirements and benefit from reduced counterparty risk, an efficient and industrial collateral management service, and potential capital and margin efficiencies.

Peter Jayawardena, COO of Mako Investment Managers, investment manager to Pelagus, said, “We were early adopters of OTC clearing and are pleased to have now worked with Newedge on this business - in particular, being able to test the Business As Usual portability of cleared trades for the first time.”

Nicolas Breteau, CEO at Newedge, said, “We have enhanced our clearing services significantly over the past six months, strengthening our offer from listed derivatives and OTC commodity swaps, to IRS OTC swaps to include both CME and LCH SwapClear. Augmenting our cross border and clearing solutions positions us well to continue to meet client needs and tap into future growth opportunities.”

John Wilson, Global Head of OTC Clearing at Newedge added, “We are delighted to have supported Pelagus’ ongoing OTC clearing activities, and to work with them on proving the portability of trades. Our expansion to more CCPs in the coming months gives funds like Pelagus confidence to manage a changing and challenging marketplace.”

Newedge’s OTC Clearing services, part of a multi-asset class offering designed for investment firms of all sizes, are supported by a partnership between Societe Generale Corporate & Investment Banking (SG CIB) and Crédit Agricole Corporate and Investment Bank (CACIB).

Newedge is a leader in global exchange-traded and cleared derivatives and amongst the top clearing firms in derivatives trading worldwide, ranking third in the USA as measured by customer assets.

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Hedge fund Ecofin says EDP bid for renewable energy unit 'egregiously low', Asia CIOs say "non" to Europe, Billionaire Mike Novogratz says he has 10% of his money in Bitcoin and Ether[more]

    Hedge fund Ecofin says EDP bid for renewable energy unit 'egregiously low' From Reuters.com: London hedge fund firm Ecofin said an offer from Portugal's largest company EDP to buy 22.47 percent of subsidiary EDP Renovaveis "significantly undervalues" the company, in a letter to EDPR's bo

  2. Alternative asset firm YieldStreet surpasses $100m of loans funded in less than 8 quarters[more]

    Komfie Manalo, Opalesque Asia: Alternative asset investment platform YieldStreet reported that it has surpassed $100m in loans funded in less than eight quarters from accredited investors and single family offices. YieldStreet was founded by Milind Mehere and Michael Weisz. In a

  3. Investing - Investor appetite for high-growth IPOs to be tested, Apollo boosts fund's stock allowance for 'diamonds in the rough', Hedge funds uncertain over outlook for Hargreaves Lansdown[more]

    Investor appetite for high-growth IPOs to be tested From FT.com: The US listings market is poised for a busy week with deals that will test investors' appetite for high-growth - but lossmaking - companies. Eight new listings are scheduled for this week, the most since October of 2016,

  4. Hedge funds holding Puerto Rico bonds are looking at a long battle[more]

    Komfie Manalo, Opalesque Asia: Hedge funds which bought Puerto Rico's distressed debt bonds are facing the prospect of a long road ahead to recover their investments as the Caribbean island is attempting to use a U.S. Congress-approved rule that allows it to exploit a bankruptcy-like proceedings

  5. Aris Wealth' quant indices fare well[more]

    Benedicte Gravrand, Opalesque Geneva: Last year, Geneva-based Aris Wealth Management launched indices sponsored by Societe Generale Corporate & Investment Banking. These indices replic