PRIVACY POLICY
Macrocapital respects the privacy of all our customers. We will not sell or make available in any way personal information you have given us except where you have specifically asked us to.
The Privacy Policy statement below sets out the principles governing our use of your Data. By registering online to become a customer and by using any of our Internet websites or services you agree to this Use. Defined terms have the same meanings as in the terms and conditions set out above.
When you register and use the site, we will ask you to provide certain Data, such as your contact details and demographic information. We will store this Data and use it to contact you, classify you as an Eligible counterparty or Professional Client and provide you with details of Services that we feel are applicable for you, unless you have asked us not to do so. From time to time we may also use the Data you provide us in response to surveys and to aggregate user profiles and the interest in financial products. For the avoidance of doubt, Macrocapital does not pass Data to any third parties except the various Regulatory Authorities and particularly the Financial Services Authority as well as various Government Agencies. Macrocapital Limited is register with the Data Commision in the United Kingdom.
You agree that we may disclose to the Financial Services Authority and to any other regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you or, if relevant, any of your clients.
We endeavour to constantly improve the site and in order to do so we may gather certain information about you when you use it, including details of your operating system, browser version, domain name and IP address, the details of the website from which you came.
As was the case in the past, we intend to operate again a secure, registered user section in this website. For this part use of cookies will be employed only to store information such as your User ID and your session identifiers to enable us to identify whether you are registered on to the site and, if so, to shortcut your access to the site. We will only read cookies from your cookie file placed there through your web browser's interaction with the site.
Our site may link to other web sites and we are not responsible for their data policies or procedures or their content.
We endeavour to take all reasonable steps to protect your personal Data including the use of encryption technology, but cannot guarantee the security of any Data you disclose online. You accept the inherent security implications of the internet and will not hold us responsible for any breach of security unless we have been negligent or in wilful default.
Our responsibilities under Money Laundering legislation include verifying the identity of clients and may need to make certain enquiries and obtain certain information from you for that purpose. You confirm that all information you supply will be accurate and that we may pass on such information as we consider necessary to comply with any reporting requirements.
This privacy policy is in relation to the Macrocapital Ltd websites www.Macrocapital.com.
Pillar 3 Disclosure as
of 30/06/2010
Macrocapital Limited,
is registered in England and Wales with company number 04014398 and for over
ten years now (since March 2001) is authorised and regulated by the Financial
Securities Authority as an Investment Manager (195463).
Part of the regulatory requirements and in particular of the
Capital Requirement Directive (‘CRD’), is to carry out an Internal
Capital Adequacy Assessment Process (‘ICAAP’) at least in the end
of its financial year.
As far as capital requirements are concerned, Macrocapital Limited is a ‘BIPRU’ Limited
License Firm, that doesn’t hold or control client money. This is
explained in the Financial Services Authority (‘FSA’) Handbook and
particularly within the FSA Prudential Sourcebook for Banks, Building Societies
and Investment Firms (‘BIPRU’).
This regulatory capital has 3 pillars of capital requirements
that have to be followed:
I] Pillar 1 is a variable capital requirement based on the
sum of operational, market and credit risk requirements. Every firm must
maintain at all times capital resources equal to or in excess of the amount
specified.
II] Pillar 2 is an additional capital requirement related to
risks not covered in Pillar 1. It requires firms and their supervisors to
review whether additional capital should be held against risks not covered in
Pillar 1 as well as instigate and oversee additional controls to mitigate such
risks or a combination of these two approaches.
III] Pillar 3 is a requirement to publish certain details of
capital and risk management and to review and update this information at least
annually.
Under the current rules a firm may omit one or more
disclosures where the information provided by such disclosure is not regarded
as material. As our services are offered to a very select set of customers and
we are currently not marketing we do not disclose detailed information to the
wider public.
The required Pillar 3 disclosures below apply solely to Macrocapital Limited as a legal authorised and regulated by
the Financial Services Authority entity.
Authorisation: We advises on investments, arranging
deals on investment, dealing in investment as an agent, making arrangements
with a view to transactions in investment and managing investment, based on
technical analysis and statistical models we have developed in the last 10
years. Full details of our authorisation is provided
on the FSA website.
Objectives: We seek to produce investment returns of
consistent long term growth with optimal risk reward profiles and low downside
risk. We achieve that by having various types of structural stop losses
(absolute stop losses, rolling stop losses, on individual stock and on
portfolio, maximum position size etc.). Both our modelling and risk management
are built in robust platforms that allow a highly scalable operation.
Credit Risk: We hold all our liquid assets as cash at
reputable global banks like HSBC Bank.
Market Risk: We receive management and performance
fees in EUR, converting it where appropriately and frequently in advance into
GBP to cover at least 6 months of operational costs. As our base capital
requirement is EUR based keeping reserves in excess to operational costs in EUR
makes us risk neutral regulatory wise.
Capital Requirement:
On our last year end date the audited capital in Macrocapital Limited was well over 2.0 times the
company’s Pillar 1 capital resource requirements.
The Pillar 1 capital resource requirement is the higher of
the base capital requirements (a fixed number equal to €50,000;
approximately £43,500) and the variable capital resource requirements.
(The latter is the higher of i) the Fixed Overhead Requirement(13 weeks of the Firm’s annual expenses excluding variable costs.) and ii) the sum of the Credit Risk and Market Risk Capital Requirements-which are very small for our company.).