Monday, 28 July 2014
Last updated 13 min ago
May 16 2014 | 1:44pm ET
The Carlyle Group's commodity hedge fund unit has set up shop in Shanghai's nascent free-trade zone.
Vermillion Asset Management incorporated a trading unit in the China (Shanghai) Pilot Free-Trade Zone, an 11-square-mile area in China's largest city. The zone offers fewer restrictions on interest rates, yuan conversion and other matters than the rest of China.
New York-based Vermillion's Shanghai unit is headed by Ian McGuinn, Bloomberg News reports.
Vermillion joins fellow commodities traders Trafigura Beheer and Louis Dreyfus Commodities in establishing a presence in the Shanghai zone, which may soon boast commodity exchanges led by Baosteel Group and the Shanghai Gold Exchange.
Carlyle owns 55% of Vermillion, buying the stake in 2012.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…