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The first half of the year has seen a sharp divergence in returns between Event Driven and Global Macro strategies. These dynamics were also at play last week and so far this month, with Event-Driven extending gains and Macro funds underperforming. Interestingly, the the very same configuration occurred as of end-June 2016. That’s according to the latest Weekly Brief from Lyxor’s Cross Asset Research Team which points out that Global Macro funds were impacted negatively last week by the sharp fall in oil prices and the fall in US and UK Treasury yields. They have maintained long positions on energy
Avelacom, a provider of infrastructure and connectivity solutions for trading, has expanded its network to Riyadh with the aim of allowing global capital markets to access low-latency, real-time market data feeds across various asset classes of Saudi Stock Market (Tadawul). This market data solution is designed in response to a high demand from the global financial communities to find new sources of liquidity, diversify portfolios, while reducing costs and mitigating risks. Saudi Arabia continues to liberalise markets. Its latest improvements to further align Tadawul with international standards draw attention of global financial firms. And that eventually leads to an increased
  CBOE Holdings anticipates trading in options on Altice USA will begin on Friday, 30 June, once the underlying stock has been certified as meeting all of CBOE Holdings’ applicable exchanges’ listing criteria. The company plans to list Altice USA options on its four options exchanges – Chicago Board Options Exchange (CBOE), C2 Options Exchange (C2), Bats’ BZX Options and Bats’ EDGX Options.    Underlying shares of Class A common stock of Altice USA began trading on the New York Stock Exchange (NYSE) June 22 after an initial public offering on Wednesday, 21 June, in which they were priced at
The US Commodity Futures Trading Commission (CFTC) has confirmed its non-objection for Euronext to grant direct trading access to US participants on the CAC 40 Dividend Index Futures and the AEX Dividend Index Futures. Effective 13 June 2017, Euronext participants and investors domiciled in the US now have direct trading access to Dividend Futures on these two blue-chip European indices.   After achieving 100 per cent growth in volumes traded in 2016[2], the CAC 40 Dividend Index Future continues to reach new trading milestones in 2017. From January to May 2017, the number of contracts traded was up by nearly
A number of technology-focused hedge funds are generating strong returns so far this year, with technology being the biggest standout of Wall Street this 2017 and generating at nearly 50 per cent of the market’s overall rise. According to alternative investment manager Gondor Capital Management, hedge funds tracked by Morgan Stanley showed that as of end of April, nearly 29 per cent of the sector’s exposure in North America was in information technology stocks. Gondor believes that this leads to concerns that the hedge fund space is already crowding the technology sector.   “I believe that hedge funds are already
CIBC Asset Management has launched the CIBC Active Global Currency Pool for institutional investors seeking an uncorrelated source of alpha in a liquid, absolute-return solution for their alternatives portfolios. “We are excited to launch the CIBC Active Global Currency Pool, which leverages our 20-year track record managing active currency strategies for institutional investors,” says Doug MacDonald (pictured), CFA, Managing Director & Head, Institutional Asset Management, CIBC Asset Management. “Capitalising on our deep expertise and unique approach to currency management, the Pool is designed to diversify a plan’s risk profile and deliver liquidity to an alternatives portfolio that is typically dominated
Managed futures traders gained 0.06 per cent in May according to the Barclay CTA Index compiled by BarclayHedge. Year to date, the Index has lost 0.67 per cent. Four of Barclay’s CTA indices had gains in May, and four had losses. The Financial/Metals Traders Index was up 0.88 per cent, Systematic Traders gained 0.13 per cent, and Agricultural Traders added 0.06 per cent.   “The seventh month of consecutive gains by global equities coupled with a bond market rally were the main drivers of CTA returns in May,” says Sol Waksman (pictured), founder and president of BarclayHedge.   The Currency
McVean Trading & Investments, LLC (MTI), a Memphis-based Futures Commission Merchant (FCM), its Chairman and CEO, Charles Dow McVean, Sr, President, Michael J Wharton, and long-time MTI consultant Samuel C Gilmore (Gilmore) are to pay USD5 million to settle CFTC charges that they manipulated the live cattle futures market. A CFTC Order finds that, by secretly using cattle feedyards as straw purchasers for hundreds of long live cattle futures contracts – which at some points more than doubled CME spot month position limits – McVean and Wharton intentionally or recklessly used a manipulative or deceptive device to inject false information
Sanne has appointed Sean Murray as its new head of fund services for the EMEA region.  Based in Sanne’s Luxembourg office, Murray will take responsibility for the development of the company’s fund services offering, working with all of the Alternative Asset product area divisions in which Sanne specialise. Murray has joined the firm from Orangefield in Luxembourg, where he was managing director and a member of the global alternative investments management board. He also sat on the board and management team of Vistra Luxembourg after Orangefield began a merger with Vistra Group in June 2016. Martin Schnaier, Sanne’s managing director
Hedge funds gained 0.50 per cent in May according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 4.13 per cent in 2017. The Barclay Hedge Fund Index has now been profitable for seven months in a row, with a cumulative gain of 6.10 per cent. The Barclay Technology Index has gained 12.27 per cent in the first five months of 2017, its strongest start in 18 years. “Concerns based on weak retail sales, two consecutive monthly declines in consumer confidence, and uncertainty over Trump’s ability to deliver on infrastructure spending and tax cut plans drove

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