Digital Assets Report

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By Dan Viola, partner, Sadis & Goldberg – Status of the new DOL fiduciary rule. The Department of Labor’s (the DOL) new fiduciary ruling (the Rule) has created strife in the securities industry and has the potential to significantly impact how financial advisers and brokers will manage retirement accounts in the future.   Currently, brokers, financial advisers, and other finance professionals don't legally have to act in a client's best interest, with few exceptions, such as those who are registered as investment advisers with the US Securities and Exchange Commission or in individual states. Those who aren’t registered, like brokers, just have to prove
The Foreign Exchange Professionals Association (FXPA) has elected a slate of new board members, as well as four officers to serve on the its executive committee (ExCom). FXPA members re-elected Chip Lowry (pictured), senior managing director of State Street Global Markets, as chair, and Sean Tully, senior managing director, financial and OTC products, CME Group, as treasurer.   FXPA members also elected two new officers to the ExCom: Fulinda Rouse, co-head of global accounts, EBS BrokerTec, as vice chair, and Paul Millward, head of FX product strategy, Bats Global Markets, as secretary.   Rouse succeeds Jill Sigelbaum, global head of
Snowden Lane Partners has formed a partnership with Artivest, a technology-driven investment platform that connects private equity and hedge funds to financial advisers and high net worth investors. “As independent wealth advisers, we offer our clients access to an unsurpassed range of investment and advisory solutions,” says Rob Mooney, Snowden Lane’s managing partner and CEO. “With no proprietary products, we are free to search the world for the right investments that meet each client’s unique requirements. The Artivest partnership advances this mission. It gives our advisers additional investment options that preserve our independence. Most importantly, Artivest’s technology greatly simplifies the
Total volume in the US options market reached 4.06 billion contracts in 2016, a 1.9 per cent decline from 2015.  As a lack of sustained volatility has resulted in little perceived volume growth, US listed options volume for 2017 is expected to also remain fairly stagnant, according to TABB Group’s latest research, “US Options Market Outlook 2017: Emerging Catalysts on the Horizon.”   The report examines factors that influence options trading activity, identifying key factors that the industry should monitor as catalysts to support trading in 2017. It also examines investor demand, the regulatory landscape and provides context on how
CQG, a provider of trade routing, market data and technical analysis tools, is to launch connectivity to the Warsaw Stock Exchange (GPW) for futures trading. Through the new connection, CQG customers will have access to the WIG20 contract as well as equity, FX, WIBOR, and T-bond futures contracts.   CQG will provide direct market access to GPW through all of its platforms, including its flagship, CQG Integrated Client, which offers global market data and interfaces for electronic trading and order management. The new connection will enable CQG customers to build correlation dashboards to compare GPW contracts with other exchanges and
Bats Global Markets’ Bats One Premium market data product is now available for distribution across numerous FactSet products and platforms. FactSet, a provider of integrated financial information and analytical applications, this month became the first distribution partner to offer the new product.   Bats One Premium, launched in February 2015, features five levels of real-time quoted depth and trade information across the four Bats US stock exchanges, and is geared towards the sophisticated professional investor.   “We’re excited about bringing our new, premium version of Bats One to market,” says Kevin Carrai (pictured), vice president, market data and access services
The hedge fund industry may witness further investor redemptions in 2017 with twice as many investors intending to reduce rather than increase their exposure to hedge funds through the year. However, Preqin’s latest survey of over 150 active hedge fund investors finds that some leading strategies are more at risk of redemptions than others. Relative value strategies hedge funds are most sought-after, while twice as many investors plan to reduce their allocations to CTAs as those that intend to increase them.   Two-thirds of investors say that their return expectations had not been met in 2016: just 3 per cent
Sycomore AM has appointed Alexandre Taïeb as fund manager-analyst within the firm’s asset allocation team. Taïeb (pictured), who will report to Stanislas de Bailliencourt, managing partner, brings expertise in the fields of asset allocation and macroeconomic analysis.   His role will include the implementation of the firm’s investment policy across the discretionary mandate business.   Before joining Sycomore AM, Taïeb served for six years as an analyst at Forward Finance, an investment consultancy firm dedicated to institutional investors. He was responsible for analysing the economic financial news flow and researching interest rates and real estate; he also contributed to the
State Street Corporation has identified three elements leaders in financial services will need in order to excel in the new digital era, which it calls the “three Is of data” – integration, integrity and intelligence. In its latest report, “Finance Reimagined: Finding Long-Term Value in a Digital Age”, based on a global survey of 2,000 investors and 500 investment providers, State Street argues the digital leaders – defined as those using digital technologies to transform their businesses – are excelling in the three Is.   They are doing so by integrating internal and external data; drawing new intelligence from it
HFR reports that total capital invested in Emerging Markets (EM) hedge funds climbed to a record level to begin 2017, as energy commodities and the US dollar posted strong gains. Assets dedicated to EM funds increased to USD200.7 billion (1.38 trillion RMB, 622 billion Brazilian Real, 13.4 trillion Indian Rupee, 11.6 trillion Russian Rouble, 753 billion Saudi Real) to end 4Q16. For FY 2016, EM hedge fund capital increased by USD9.3 billion, despite net investor outflows of USD4.8 billion. As previously reported by HFR, total hedge fund assets globally increased by USD121.6 billion in 2016, ending the year at USD3.02

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