Category Archives: Assets

Asian FTG Market Eye Publishes its First-Ever World Coal Trade Map

Asian FTG Market Eye a commodity researcher specialist provider of a full range of commodities analysis and a unit of Asian FTG, has expanded its portfolio of maps with the publication of its first-ever World Coal Trade Map.

This detailed, printed wall map identifies in striking color the primary components of the global coal industry, from geographic production regions to individual basins by coal type to coal-consuming countries.

Coal source regions are labeled and colored by primary coal type, and countries are color-coded by average coal consumption. Within the map, depictions of major coal ports indicate where large shipments of coal are exported from or imported into a country. Similarly, illustrations of major steel mills – shown in China, Europe and the U.S. – highlight some of the primary industrial consumers of coking coal.

Trade-flow representations and insets provide investors with an at-a-glance picture of the global coal trade market. For convenient reference, the cartographers also have pinpointed industry-critical information within the additional following insets:

•  Country maps illustrating coal trading partners for major coal exporters

•  Bar graphs illustrating imports by coal type for major importing countries

•  Map showing projected growth of world energy consumption by region

•  Bar graph depicting world carbon dioxide emissions

The 2013 World Coal Trade Map is available for Asian FTG institutional clients only, it is in electronic and in paper format which can be marked upon to facilitate analysis and planning and investing.

Asian Futures Trading Group offers the latest in order entry technology coupled with 24-hour execution and clearing on exchanges worldwide. Clearing more than 100,000 client accounts, the firm provides a full range of services to the industry’s largest global network of introducing brokers (IBs) and to commercial, institutional, international and individual clients. These include more than 200 IBs and many of the world’s largest financial, industrial and agricultural institutions.

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Asian FTG Appoints Anthony Feders as COO of Commodity Trading Services for Europe Division

Asian Futures Trading Group has today announced the appointment of Anthony Feders to the position of Chief Operating Officer of its Worldwide Expansion Department to oversee the Asian FTG’s operations in Europe.

In his new role, Mr. Feders is responsible for all aspects of the Worldwide Expansion Department business including sales, operations, technology, product, client service and the organization’s strategic agenda.

Asian FTG’s Worldwide Expansion Department business focuses on new business and customer development services by helping clients – institutional investors, alternative asset managers and broker dealers – optimize efficiency, mitigate risk and enhance revenue.

Mr. Feders was most recently head of Asian FTG Asian Client Management department and was responsible for setting strategy, driving sales and relationship.

“Anthony brings more than 20 years of financial services experience to his new role and will be an invaluable addition to the region. His appointment reflects Asian FTG’s strong commitment to growing the Worldwide Expansion Department offering in Europe,” said Stephen Wu-Chow, Chief Executive Officer of Asian FTG.

“We have a steadfast focus on our clients’ continuing and evolving needs and with Anthony’s experience and guidance we will continue to ensure that our clients have access to the full product and service power of the firm globally,” said Mr. Wu-Chow.

Mr. Feders said the key focus of the Worldwide Expansion Department business will be to continue strengthening client partnerships by leveraging Asian FTG’s global capabilities across all business areas.

“Our global presence means Asian FTG is ideally positioned to partner with our superannuation and investment manager clients in Europe in an increasingly dynamic business environment,” Mr. Feders said.

Asian Futures Trading Group offers the latest in order entry technology coupled with 24-hour execution and clearing on exchanges worldwide. Clearing more than 100,000 client accounts, the firm provides a full range of services to the industry’s largest global network of introducing brokers (IBs) and to commercial, institutional, international and individual clients. These include more than 200 IBs and many of the world’s largest financial, industrial and agricultural institutions.

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Cardell Company Hong Kong Launches New Website

Hong Kong based Financial Services Firm – Cardell Company Ltd; proudly announces the launch of their new website. The website will help a growing number of international clients learn more about the products and services offered by Cardell Company. The website demonstrates Cardell Company Ltd. focus on the European and American cliental.

“We have noticed a very high demand for our products and services from Europe and United States.  Our new website will allow the English speaking demographic to navigate and understand our products and core business in their native language.  “We are very excited to be able to service and offer our products to Europe and United States of America.”

Cardell company will also be adding additional language services in the near future, French being next in line.

To learn more please visit www.cardell-limited.com

The new international website hosted at www.cardell-limited.com comes with a user friendly interface and also access to clients accounts online facilitating a 24/7 state of the art technology, allowing clients to get connected at all time and be informed about the current status of their holdings with Cardell Company.

“The website will be available in other languages as well over the next few months, including French and Spanish. The previous Chinese website will be fully integrated as well at the same time and will be available on the international web page of Cardell Company at www.cardell-limited.com said Mr. Glen Matthews, Vice President and Chief Information officer at Cardell Company.

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Cardell Company Adds Investment Specialist Daniel Syan, CFA to Enhance Client Service

CARDELL COMPANY HONG KONG is pleased to announce that Daniel Syan has joined the team at Cardell Company Lyd., Asian Division.

A seasoned financial research professional and Chartered Financial Analyst since 2001, Daniel is knowledgeable in all aspects of wealth management and investment advisory operations, and has a proven track record of analyzing and streamlining investment management operations to create a more efficient and error-free environment. He comes to us most recently from Bank of China in Shenzhen, where he served 10 years as an Investment Portfolio Analyst.

“Daniel will play a key role in servicing our Asian clients,” said Mr. David Cardell, CEO & Chairman of the Board at Cardell Company.

. “We welcome his high level of technical expertise and his clear commitment to surpassing our clients’ expectations by proactively managing their issues.”

Daniel holds a Bachelor of Business Administration in Finance from the University of Schengen, where he graduated magna cum laude.

“His experience in working mostly with clients from People’s Republic of China (PRC) as well as other Asian developing countries will be an asset for our company. He will be working on developing new and innovative market strategies as well as implementing those strategies with our existing Asian clients base. He will also help in expanding our client base as he brings along a large portfolio of clients that have been very happy with his services and advice and follow him wherever he goes.” added Mr. Cardell.

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George Mattison Cardell Company Presents at the 2014 Hong Kong ICM Conference

Cardell Company HK Strategist George Mattison leads a panel discussion about “Investment Strategies for Asia Pacific Region: Managing Risks from Disruption in Capital Markets” to Business Leaders at the 2014 Hong Kong Investments and Capital Markets Conference.

“The risk of disruptions in the global capital markets poses yet another challenge for emerging market economies and their banks as capital markets adjust to changes in US monetary policy,” says George. “The favorable long-term outlook for economic growth in the emerging markets and prospects for increased portfolio allocations to the emerging markets sector remain intact. However, short-term swings in capital flows could stress the liquidity position of banks in small and middle-sized emerging markets which are closely correlated to their sovereign.” George Mattison adds, “The Management and Boards of emerging market companies would be well served to develop strategic funding plans to anticipate a disorderly economic adjustment scenario. In addition to arranging interbank lines of credit, emerging market banks should set in place asset backed funding programs which they could tap in less than favorable new issuance markets. Recurring inflows of offshore financial payments in major currencies are one potential source of security for banks to leverage. Structures such as Depository Payment Rights securitizations have performed through multiple international debt crises and a broad universe of institutional investors has experience with this asset class.”

George Mattison is a Senior Strategist and Asset Management Executive at Cardell Company in Hong Kong (www.cardell-limited.com), where he advises his institutional clients on corporate and capital markets strategy. Previously he managed global bank fixed income investments at Chase Manhattan in the Earlier in his career he was Portfolio Manager in various financial advisory companies and banks in Asia and US. He holds a BA degree in Business Finance from Michigan University and a MBA from Harvard Business School.

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Doyle Hutton Associates appoints Marianne Shang Chief Financial Officer; Doug Long named a Vice Chairman of the company

Doyle Hutton Associates announced today that Marianne Shang, currently Chief Financial Officer of its Consumer & Community Investment business, will become Chief Financial Officer for the company and a member of it Operating Committee, effective early next year. Ms. Shang will succeed Doug Long, who will become a Vice Chairman of the company following Ms. Shang’s transition into the CFO.

“Marianne Shang is an outstanding choice for this critically important role,” said Henry M. Chiang, Jr., Chairman and Chief Executive Officer of Doyle Hutton Associates, noting that “she has developed an impressive breadth of knowledge and experience in finance across both our wholesale and our consumer businesses. Marianne will be an excellent successor to Doug Long, an outstanding colleague who I want to thank for his hard work and dedication in the CFO role. Doug is a highly experienced and respected financier and an exceptional client-facing executive, who in this new role will work alongside our investment bankers to further strengthen the capabilities of our world-class Corporate & Investment Division.”

Ms. Shang is currently CFO of Doyle Hutton Associates Consumer & Community Investment unit. Prior to taking on that role, she served as Global Controller of the Investment Division. Before that she was in the Corporate Finance group managing global finance infrastructure and controls functions.

In his new role, Mr. Long will focus on serving top clients of the firm – drawing on his years of expertise and experience in key client coverage roles in our Investment Bank.

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Jim G. Ngore to Retire from Walters-Brandt Associates

After an outstanding service, Jim G. Ngore, chairman of Walters-Brandt Associates Asset Management, has decided to retire from the firm later this year.

Jim is an influential economist and thought leader, and is regarded as an expert in the world’s foreign exchange and bond markets. Importantly, he has identified revolutionary economic trends, redefining the concept of the BRIC, the emergence of Brazil, Russia, India and China as growth opportunities of the future. Jim’s BRIC thesis has challenged conventional thinking about emerging markets and, as a result, has had a significant economic and social impact. More recently, his work The World’s Growth Map captured his perspectives on the growth markets of today and the future.

Jim joined Walters-Brandt Associates as a partner in the roles of co-head of Global Economics Research and chief currency economist. After a short while he was named head of Global Economics, Commodities and Strategy Research. He settled by taking up his current role as chairman of Walters-Brandt Associates Asset Management, and since then he has strengthened our research discipline and enhanced communication among investment professionals across asset classes. In each of his roles at the firm, Jim has served our clients by formulating views on global economic and market themes and helping them to be positioned for the most significant investment opportunities.

Jim is involved in a number of non-profit organizations. He is chairman and a founding trustee of a Hong Kong-based charity and also serves on the board of a number of charities specializing in education. Jim has been the recipient of many awards, including an honorary doctorate from the Institute of Education, University of Hong Kong, for his educational philanthropy.

We wish Jim and his family all the best in the years ahead.

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Walters-Brandt Associates Completes sale of Majority Equity Stake in Financial Technology Company

Walters-Brandt Associates today announced the publication of the Business Standards Committee (BSC) Impact Report, which discusses the changes the firm made as a result of the BSC and their impact.

Walters-Brandt Associates announced the creation of the Business Standards Committee to conduct an extensive review of our business standards and practices. Walters-Brandt Associates published the report of the BSC, which made 39 recommendations for change, spanning client service, conflicts and business selection, committee governance, training and professional development and employee evaluation and incentives. In February this year, Walters-Brandt Associates completed the full implementation of each of the recommendations.

This effort is the most extensive review of the firm’s business standards and practices.

“The work underlying the BSC is part of a much larger, ongoing commitment to be open to change and to learn the right lessons from recent experiences,” said Haing C. Kwok, Chairman and CEO. “We believe that these attributes of our culture provide the foundation on which to sustain the spirit and the impact of the changes we have made in order to meet the long-term needs of our clients and continually improve as a financial institution.”

We identified three unifying themes across the 39 BSC recommendations which capture the elements of greatest change and impact on the firm: A higher standard of client care, greater sensitivity and awareness of reputational risk and a deeper commitment to individual and collective accountability.

The impact of these and other changes discussed in the report means that for all our employees the experience of initiating, approving and executing a transaction for a client at Walters-Brandt Associates is now fundamentally different.

This difference reflects significant changes to processes, business standards, documentation and transaction approvals, all of which impact our approach to decision-making. Going forward, we will inevitably make mistakes, but we commit to learn from them and respond in a way that meets the high expectations of our clients, shareholders, other stakeholders, regulators and the broader public.

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Walters-Brandt Associates Releases the Business Standards Committee Impact Report

Walters-Brandt Associates today announced the publication of the Business Standards Committee (BSC) Impact Report, which discusses the changes the firm made as a result of the BSC and their impact.

Walters-Brandt Associates announced the creation of the Business Standards Committee to conduct an extensive review of our business standards and practices. Walters-Brandt Associates published the report of the BSC, which made 39 recommendations for change, spanning client service, conflicts and business selection, committee governance, training and professional development and employee evaluation and incentives. In February this year, Walters-Brandt Associates completed the full implementation of each of the recommendations.

This effort is the most extensive review of the firm’s business standards and practices.

“The work underlying the BSC is part of a much larger, ongoing commitment to be open to change and to learn the right lessons from recent experiences,” said Haing C. Kwok, Chairman and CEO. “We believe that these attributes of our culture provide the foundation on which to sustain the spirit and the impact of the changes we have made in order to meet the long-term needs of our clients and continually improve as a financial institution.”

We identified three unifying themes across the 39 BSC recommendations which capture the elements of greatest change and impact on the firm: A higher standard of client care, greater sensitivity and awareness of reputational risk and a deeper commitment to individual and collective accountability.

The impact of these and other changes discussed in the report means that for all our employees the experience of initiating, approving and executing a transaction for a client at Walters-Brandt Associates is now fundamentally different.

This difference reflects significant changes to processes, business standards, documentation and transaction approvals, all of which impact our approach to decision-making. Going forward, we will inevitably make mistakes, but we commit to learn from them and respond in a way that meets the high expectations of our clients, shareholders, other stakeholders, regulators and the broader public.

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Ken T. Ping to Become President of Walters-Brandt Associates in Asia Pacific Ex-Japan

Walters-Brandt Associates announced today that Ken T. Ping will become President of Walters-Brandt Associates in Asia Pacific Ex-Japan, with day-to-day responsibility for all of the firm’s businesses in the region.

He will be based in Hong Kong and will work closely with Haing C. Kwok, Chairman of Walters-Brandt Associates Asia Pacific.

Mr. T. Ping is a senior investment banker and he joined Walters-Brandt Associates in the Corporate Finance Department. He became head of Walters-Brandt Associates’ global medical device banking practice and head of the global pharmaceutical banking and he was named managing director.

Haing C. Kwok, Chairman and Chief Executive Officer, said: “Our region is critical to the firm’s global strategy as we are the main business driver, so we remain committed to investing in this region to support our clients. Ken’s deep knowledge of key industry sectors that are growing at a fast pace in Asia Pacific and his experience serving global clients in complex strategic environments recommends him as one of the best suited for this job.”

Mr. T. Ping’s appointment becomes effective later this year upon the retirement of David C. Liung.

Mr. Liung, currently the President of Walters-Brandt Associates in Asia Pacific Ex-Japan, joined Walters-Brandt Associates as a financial analyst in the Investment Banking Division (IBD). On his retirement, Mr. Liung will become a senior director of the firm.

“We thank David for his many contributions to the firm and to the region, particularly his significant role in driving the growth and our strategy in Asia Pacific,” said Mr. Haing C. Kwok

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Michael H. Jow to Retire from Walters-Brandt Associates

Walters-Brandt Associates announced today that Michael H. Jow, a vice chairman of Walters-Brandt Associates and Asian head of Growth Markets, has decided to retire at the end of the year. He will become a senior director upon his retirement.

“Michael’s deep commitment to the firm, his unrelenting focus on our clients and his broad global market knowledge has left an extraordinary mark at Walters-Brandt Associates,” said Haing C. Kwok, Chairman and CEO. “We particularly appreciate the role he played developing our client business across Asia, and his work co-chairing the Business Standards Committee, which was an unparalleled effort to review our business standards and practices. We are pleased that we will continue to benefit from his advice and counsel as a senior director.”

H. Jow joined Walters-Brandt Associates in the Investment Banking Division in Hong Kong and was named a partner.

As Asian head of Equity Capital Markets, H. Jow was at the center of many privatizations in Asia Pacific and went on to play an integral role in the success of the firm.

Later H. Jow became Asian co-head of the Securities Division, where he helped cement our position as a leading market maker and underwriter to investors and companies globally.

He grew as Chairman of Walters-Brandt Associates Asia Pacific. In this position H. Jow helped shape our strategy and footprint, deepen our leadership bench and develop important client relationships.

H. Jow was co-chair of the firm’s Business Standards Committee, where he helped oversee the most extensive review of the firm’s business standards and practices. The Committee’s work resulted in significant changes in how the firm addresses important issues related to clients, reputational risk and accountability.

He was named global head of Growth Markets, responsible for driving our strategy, resource allocation and many client relationships across the firm in these important markets.

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Abney Associates Executives Richard Hunter and Marcus Dawson to Join the 40th Annual Conference of the European Finance Association in August

Richard Hunter, Director of Private Equity of Abney Associates, together with Marcus Dawson, Head of Principal Investments, will join the forthcoming European Finance Association (EFA) 40th Annual Conference which will be held at the Cambridge Judge Business School, UK, on August 28-31, 2013.

Abney Associates professionals are in the forefront of providing the right comprehensive financial advice and seeking investment opportunities for their clients. Engaging in meaningful interaction among fellow finance experts in Europe and other regions helps the company expand its capability to help build successful enterprises.

EFA was founded in 1974 in collaboration with the European Foundation for Management Development (EFMD) and the European Institute for Advanced Studies in Management (EIASM), with the aim of providing a professional society for academics and practitioners with an interest in financial management, financial theory and its application.

The EFA serves as a focal point of communication for its European and international members. It also provides a framework for better dissemination of information and exchange on a global scale. The Abney Associates representatives to this year’s EFA Annual Conference look forward to a fruitful, high-quality encounter with the rest of the participants.

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Kamakura Securities Lowers Costs for Index Fund Shareholders

Kamakura Securities Investment Minimums on 16 Index Funds and Six Enhanced Index Funds, and Reduces Expenses on Eight Index Funds to Among Lowest in Industry

Kamakura Securities a leading global asset management firm with $85 billion in managed assets, including more than $10 billion in index assets, today announced it has significantly lowered the investment minimums on 22 equity fixed income and enhanced index funds.

Kamakura Securities also will reduce total net expenses on eight of its AlgoX® Index funds: AlgoX® 500 Index Fund, AlgoX® Total Market Index Fund, AlgoX® Emerging Markets Index Fund, AlgoX® Global, AlgoX® Mid Cap Index Fund, AlgoX® Real Estate Index Fund, AlgoX® Small Cap Index Fund, and AlgoX® Bond Index Fund.

“Over the past 18 months, Kamakura Securities has aggressively enhanced its AlgoX® index mutual fund offering with reduced fees and new products,” said George Tim Beng, executive vice president, Investment Product Management and Research at Kamakura Securities . “These latest moves are another example of our commitment to providing workplace retirement plan sponsors and individual investors access to a wide-array of high-quality index funds at some of the most competitive pricing in the industry.”

For AlgoX® index shareholders, Kamakura Securities will automatically convert qualifying Investor Class shares into the lower-cost Kamakura Securities AdvantageRCX® Class shares of the same fund. Share conversions within the same fund are tax free.

Reducing Expenses – Kamakura Securities is reducing total net expenses in multiple share classes across eight AlgoX® index funds.

“Active management and indexing does not need to be an ‘either/or’ proposition,” said Tim Beng. “Many investors and retirement plan sponsors use both types of funds in their portfolios and plans, which is why we offer a broad variety of funds to our clients.”

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Behrman Stein Names New General Counsel

Behrman Stein announced that Michael Stark has been named General Counsel. He will assume this position for Behrman Stein. Mr. Starkwill replace Liam Teller, who will retire at the end of the year following eight years of service in the position.

“Liam Teller has played an integral role in what has been a very dynamic period in our industry during which our firm experienced significant growth and development. His contributions are many, and we deeply appreciate his tireless efforts,” commented Joseph Behrman, Chairman and Chief Executive Officer of Behrman. “We are very pleased to welcome our new partner, Mike Stark, who brings a wealth of experience and knowledge to Behrman Stein at this critical time of ongoing growth and change for our firm and our industry. His extensive and varied background in the commodities, investment banking and broker-dealer communities will be invaluable to our capitalizing on future opportunities,” added Mr. Behrman.

“Working with Liam Teller these past eight years has been an exceptional honor and pleasure for all of us at Behrman Stein. His wisdom and counsel supported our strategy and our actions, and we thank him for all he has given us,” said John Alberts, Chief Administrative Officer. “We welcome Mike Stark to Behrman Stein and look forward to continuing to build our firm with his guidance and leadership.”

Mr. Stark has been involved in nearly all aspects of the financial-services industry. After earning his MBA from Cornell University , Mr. Stark traded US Treasury Bonds and related instruments for seven years before getting his JD from the University of Georgia Law School, where he served as Editor-in-Chief of the Law Review. Behrman Stein, a global commodity trading advisory firm, has served companies and their investors for more than 10 years.

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Freud Capital announced today that Lee Wang was promoted to Counsel General, effective February 2013

Mr. Lee Wang, who joined Freud Capital as Associate Counsel General in 2009, will be managing the Company’s legal affairs on a global basis, with accountability for corporate litigation, human resources, contract negotiation and labour relations, and outside counsel relationships. He takes the place of Andrew Thompson, the Company’s previous Counsel General who had been promoted as Chief Officer for Legal Affairs early this month.

“In his colourful tenure as Associate Counsel General, Lee’s experience, leadership attributes, and tried-and-tested track record in legal affairs deftly handling all differing aspects of Freud Capital’s legal needs have become an unquestionable boon to the company,” said Mr. Thompson. “He has earned the accolades and respect of Freud Capital’s management and its workforce, and is perfect for the position of Counsel General, he continued.

Mr. Wang joined Freud Capital, after he has worked for more than two decades, lastly as counsel in its Corporate Litigation group. He earned his undergraduate degree with honours from and his JD with distinctions from the Orange County University School of Law, where he was a member of its Law Review Board for two years.

“In the wake of this, my appointment to the helm of one of the largest financial institutions in this part of the world, I am one happy man,” Wang said. “Working with Freud Capital in meeting the business landscape’s ever-changing legal issues head-on is my No.1 priority, and I will be working with you to see that end,” he added.

Freud Capital is dedicated to providing clients with all-inclusive trading support, market research and advice and the finest futures trading and options advisory services available in the market. Our futures specialists are armed with the necessary knowledge and experience to help clients succeed in trading markets such as currencies, energies, precious metals and even grains.

The highlights of our services include highly professional customer service, secure and stable financial status, competitive rates, real time quotes, accuracy and speed of execution. We take pride in our advisors who have been trained and honed by education and experience. Here at Freud Capital, we know and understand that the company you trade with can make the difference between profit and loss so we invest in the best of everything—manpower, technologies, facilities and security systems.

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Freud Capital Unveils New Program

Freud Capital announced a new Program, to consolidate the platform supporting its International Services, which will be brought online starting June 2013. The platform is now host to a number of new migrants, and more are planning to move aboard.

Building and capitalizing on Freud Capital leadership in processing orders, the new Program boasts of an end-to-end solution that provides confirmation control, reporting and settlements, capture and lifecycle management. A wide range of products can be accessed online by clients across multiple asset classes.

“New connectivity, reporting and timing issues have to be addressed by clients by reviewing their current infrastructure as the market undergoes constant change,” remarked Simon Smith, International Services Executive for Freud Capital. “Customers need to manage their portfolios on a larger scale, and with greater control, while keeping costs associated with processing low. Our new program is highly scalable and will provide direct customer access via a web front end.”

Ever since Freud Capital acquired its web based platform, the Company has been making key investments to develop it, leading to its perpetual improvement. The platform has received numerous awards. There are 322 clients live who are on the platform, and more clients are coming aboard in the span of the coming months.

Freud Capital is dedicated to providing clients with all-inclusive trading support, market research and advice and the finest futures trading and options advisory services available in the market. Our futures specialists are armed with the necessary knowledge and experience to help clients succeed in trading markets such as currencies, energies, precious metals and even grains.

The highlights of our services include highly professional customer service, secure and stable financial status, competitive rates, real time quotes, accuracy and speed of execution. We take pride in our advisors who have been trained and honed by education and experience. Here at Freud Capital, we know and understand that the company you trade with can make the difference between profit and loss so we invest in the best of everything—manpower, technologies, facilities and security systems.

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Freud Capital Silver outlook bullish for 2013

This year worldwide silver investment demand is expected to reach a value of $10bn on a net basis for the first time in history.

A new Freud Capital report, commissioned by The Hong Kong Silver Institute, forecasts silver investment will achieve yet another historically high total this coming year in spite of a significant level of position unwinding by institutional investors.

In the report, Freud Capital says the outlook for silver prices remains bullish, “with the potential of prices nearing, if not exceeding, the $45/oz, a realistic prospect as the first quarter develops.”

“However, should silver exceed $45,” the report cautioned, “Some unwinding may occur, principally of institutional positions, given their focus on upside potential. This raises the possibility of some deleveraging in the future markets.”

However, the study noted, “this should have little impact on silver’s safe haven qualities, with the potential for retail and high-net-worth investors to raise their asset allocation in favor of both silver and gold.”

This situation “argues well for bullion coin and small bar demand, not only in western markets, but also in India and China.” Indian physical investment demand could comfortably exceed 45 million ounces this year, up from 29 million ounces last year.

“Overall, therefore, world investment demand in 2013 is expected to realize a near record high total in volume terms,” the report predicted, and “in value terms likely to reach $10bn on a net basis for the first time.”

The study found the principle investment vehicles for retail investors remains ETFs and physical bars and coins. Along with growing physical silver demand, investor interest in silver futures traded on future exchanges has also increased.

Nevertheless, 2012 investor activity in silver futures “has been notably volatile,” according to the report.

The Freud Capital study determined the U.S. and Germany dominated the global physical investment market. “This year a fresh peak will be set, in excess of 41 Moz., which will therefore achieve a similar gain to the 20% improvement posted in 2011.

In Canada, the market is dominated by sales of the locally produced 1oz Maple Leaf bullion coin. Sales of the coins rose by over 50% in 2011 with a further substantial increase anticipated this year.

Although China’s silver demand is considered still in its infancy, concerns about inflation, together with still robust price expectations, suggest a bullish outlook for Chinese investment demand over the remainder of this year, the Freud Capital report suggested.

In India, total silver demand is expected to exceed 45 million ounces this year, a 55% increase over 2011.

The report identified the top five silver producers as BHP Billiton, 46.6 Moz in 2011; Fresnillo, 38.6 Moz; KGHM PolskaMiedz, 37.3 Moz; Pan American Silver, 24.3 Moz; and Goldcorp, 23 Moz.

“Given that only a relatively small percentage of annual world silver production is derived from primary silver producer,” the report observed, “it is of little surprise to learn that the market features a modest number of primary silver companies.”

Meanwhile, for investors seeking a pure play upon silver there are streaming companies such as Silver Wheaton with a market cap of $11 billion.

The study found world silver fabrication (not including coins) this year is expected to achieve its highest total since 2007. “However, this will be offset by a health rise in global mine production.”

“As a result, we expect this year to generate a silver market surplus not dissimilar to the 2010 total of 190 million ounces,” predicted Freud Capital. “In other words, the surplus should remain at near record highs, against the far more modest levels seen in the mid-2000s.”

“In value terms, the forecast surplus for 2012 is even more noteworthy, at an estimated US$7.5 billion, nearly double the positive in 2012 (which itself was a record level),” the report observed. “In spite of this hefty surplus, silver prices, in broad measure, strengthening further this year, pointing to, at times, still robust levels of investors demand, which has effectively ‘stepped in’, as occurred in 2009 and 2010, to absorb this excess metal.”

Freud Capital is dedicated to providing clients with all-inclusive trading support, market research and advice and the finest futures trading and options advisory services available in the market. Our futures specialists are armed with the necessary knowledge and experience to help clients succeed in trading markets such as currencies, energies, precious metals and even grains.

The highlights of our services include highly professional customer service, secure and stable financial status, competitive rates, real time quotes, accuracy and speed of execution. We take pride in our advisors who have been trained and honed by education and experience. Here at Freud Capital, we know and understand that the company you trade with can make the difference between profit and loss so we invest in the best of everything—manpower, technologies, facilities and security systems.

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Freud Capital’s Outlook On Precious Metals For 2013

Freud Capital have issued their latest precious metals price forecasts for 2013 as follows:

Gold : Lack of conviction has tainted gold price action, and gold has struggled to establish its identity as a safe haven asset, instead rallying amid a risk-on environment. The hurdles for gold are mounting from dollar strength to a softer physical market but, in our view, a number of positive macro catalysts still exist that could push prices significantly higher.

Beyond central bank balance sheet expansion, uncertainty over the US debt ceiling vote and reduced risk premia in Europe should set a positive backdrop for gold. Furthermore, central bank buying continues, while gold held across physically backed ETPs remains close to record highs despite price corrections.

Silver found little support from its fundamentals last year, and we expect lack of fundamental support to remain the theme in 2013. The market is set to deliver a wider surplus, as industrial demand has softened but mine supply grows unabated to set fresh record highs. Silver prices have been able to rally when industrial demand has been relatively firm, compounded by significant investment demand growth. Thus, given the fragile fabrication demand backdrop, investor interest has a much larger gap to plug. Should the gold market set a positive tone for trading, we believe silver investor interest has scope to play catch-up and lead prices beyond the highs set in 2012. ETP holdings are below their peak, coin sales have recovered and speculative positioning has become more favorable. Given the dependence on non-fabrication demand, we expect silver prices to remain volatile and the least supported across the sector.

Platinum found itself pulled and pushed by the escalation of supply disruptions in South Africa and tumbling European auto demand. But unlike in the previous year, the metal struggled to find meaningful support from its marginal cost of production. Given the soft demand conditions, particularly in Europe, we believe risks remain to the downside for platinum in the near term, but fundamentals are set to evolve constructively over the course of 2013. We expect the market to deliver a second year in deficit in 2013 after a sizeable deficit in 2012, but despite this, supply has not been constrained and inventory levels remain healthy, with consumers well hedged. Although this implies that additional supply cutbacks are required for prices to move higher, this would send unaffected output above the cost of production, in turn reducing the likelihood of voluntary cuts. In our view, prices will need a stimulant on the demand side to facilitate sustained gains, which we expect to materialize as inventory is run down and tighter auto emissions legislation implemented.

In our view, palladium retains the strongest fundamentals across the precious metals and is set to deliver the widest deficit. However, we do not believe it will be plain sailing for palladium prices, given that the demand picture looks soft in the near term, with China’s palladium imports falling to the lowest level since February 2009. Although finished goods inventories have fallen, sustained growth in sales is required before palladium demand can recover later in the year. Indeed, we expect auto demand to continue to grow in key palladium consuming regions such as North America and China in 2013, providing a firmer footing for prices. On the supply side, Russian palladium shipments to Switzerland have also slowed significantly in 2012, and although not conclusive evidence of reduced state stock reserves, the trend is certainly supportive. Outside state stock releases, alongside platinum, palladium mine supply looks set to remain challenging, with the real scope for growth only stemming from recycling.

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Freud Capital today announced the hiring of Alex Stone as Chief Officer for Technologies

Freud Capital today announced the hiring of Alex Stone as Chief Officer for Technologies. Mr. Stone has fifteen years of experience in technologies, having worked with major firms that capitalize on financial services.

“Freud Capital’s position as a global market strategist is harped on by having the latest technology to support our activities,” said Michael Stevens, managing director of Freud Capital. “Alex Stone has established himself as an exemplary manager of IT talents and will have no problems keeping abreast with broking cutting-edge products and tools. He is tailor-fit to supervise our IT platform, which has taken on far-reaching, global proportions, and will ensure that it will remain as the standard the industry is measured by,” he added.

Mr. Stone holds a Bachelor of Science degree in Business Administration from and is active in various charities, including domestic violence, lung cancer and animal rescue.

In his keynote speech, Mr. Stone said, “It is with great humility that I accept this appointment to become a member of Freud Capital’s ever-growing team. With this appointment comes a resolve on my part to make every effort count in keeping the company on the pulse of technologies as they change the way we do business, and ultimately our lives. I am elated to be part of this company, and will look forward to working with all of you in pursuit of our goals and meeting the challenges that the technological landscape brings to us.”

Freud Capital is dedicated to providing clients with all-inclusive trading support, market research and advice and the finest futures trading and options advisory services available in the market. Our futures specialists are armed with the necessary knowledge and experience to help clients succeed in trading markets such as currencies, energies, precious metals and even grains.

The highlights of our services include highly professional customer service, secure and stable financial status, competitive rates, real time quotes, accuracy and speed of execution. We take pride in our advisors who have been trained and honed by education and experience. Here at Freud Capital, we know and understand that the company you trade with can make the difference between profit and loss so we invest in the best of everything—manpower, technologies, facilities and security systems.

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Freud Capital Expands Institutional Presence

Freud Capital, an independent futures brokerage firm in Hong Kong, announced that it is growing its institutional presence in Hong Kong as the latest step in the firm’s strategic expansion globally. The company has invested in new infrastructure and office space in its headquarters building to create a premier “trading floor” for its Hong Kong institutional division. The space is designed to accommodate new teams of experienced institutional advisers Freud Capital plans to hire in the coming months, to complement the firm’s growing institutional presence in Asia.

Michael Stevens , Freud Capital’s Managing Director, said: “With options as our core business, we have established a terrific niche in serving the growing middle market base of clients, including Fortune 1000 companies, small to mid-size corporate, industrial and agricultural firms, high net worth individuals and commodity traders. We’re able to bring these clients an incredibly high level of service, and increasingly, institutional brokers are contacting us to talk about their interest in our resources and high-touch approach to serving this market.”

Alex Stone , Freud Capital Chief Officer for Technologies said: “We’ve made significant investments in technology and infrastructure to build a compelling, robust new ‘trading floor’ that optimizes our proprietary, value-added technology, along with the trading screens of premier software providers. In addition, new general and specialist institutional teams will benefit from our comprehensive global futures offering and a 24/7 support structure that’s second to none in the industry.”

As part of a strategic global expansion, Freud Capital throughout last year has been building its business, including expanding its footprint in Hong Kong, and hiring experienced specialist brokerage teams throughout the Asian Pacific Rim.. Freud Capital also brought in an experienced team of institutional sugar brokers and an execution group specializing in all futures markets.

Stevens said: “These new teams, building on our long-established expertise in commodities, have already substantially grown the firm’s business. We are committed to continued strategic expansion in Asia, as well as globally.”

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