Wed, Sep 17, 2014
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 - Big hedge funds show interest in Alibaba, Maglan joins other hedge funds in rush to Argentinian assets[more]

    Big hedge funds show interest in Alibaba From Hereisthecity.com: …Three other major hedge fund investors who have shown interest in the IPO are Dan Loeb of Third Point, David Tepper of Appaloosa Management and Dan Benton of Andor Capital Management. All three were among the roughly 800 p

  2. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  3. Investors move capital out of Scotland ahead of referendum[more]

    Benedicte Gravrand, Opalesque Geneva: Ahead of Scotland’s independence referendum on September 18, asset managers, investors and pension savers are moving billions of pounds out of the country,

  4. Indices - Greenwich Global Hedge Fund Index up 1.57% in August (+4.22% YTD), Eurekahedge Hedge Fund Index rebounds in August gaining 1.36% (4.22%), Lyxor Hedge Fund Index was up 0.9% in August (YTD +1.7%)[more]

    Greenwich Global Hedge Fund Index up 1.57% in August (+4.22% YTD) The Greenwich Global Hedge Fund Index ended the month of August up +1.57%. Equity markets were up in August with the MSCI World Index up +2.00%. This was primarily driven by the performance of the S&P 500 which was up +4.

  5. Alpha Strategic buys stake in Premium Point Investments[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Alpha Strategic plc, a affiliate of