Latest News
Though the US corporate bond and US treasury market has surged in size since the financial crisis in 2008, the unprecedented growth of US debt markets alongside a complete US regulatory overhaul has left the traditional market unstable and ushered in an age of innovation.
TABB Group’s new research, “US Fixed Income Market: Industry Trends & Drivers 2016”, the third in a series of annual reports tracking a growing list of critical factors threatening OTC fixed income markets in a post-financial crisis world, considers the past and the future to outline patterns that define the new OTC fixed income ecosystem
- 22/12/2016
The Shenzhen-Hong Kong Stock Connect provides international investors with another direct link to access China’s domestic A-shares market and especially the stocks on the tech-heavy Shenzhen market. It also provides Luxembourg investment funds with access to a new asset class.
Shenzhen Connect is the latest step in providing mutual access between the capital markets in China's mainland and Hong Kong, following the launch of a link between the Shanghai and Hong Kong exchanges in 2014. The market infrastructure arrangements under Shenzhen Connect replicate those provided for under the original Shanghai-Hong Kong Stock Connect (Shanghai Connect) pilot programme.
The Shenzhen Connect
- 22/12/2016
Cowen Group has made two new senior hires within the electronic trading division of Cowen & Company.
Jason Oien joins as managing director and head of electronic trading services.
Jennifer Hadiaris joins as managing director and head of global market structure.
“Jason and Jennifer play a key role in furthering Cowen’s position as the leading platform for broker-neutral execution solutions,” says Dan Charney, Cowen’s head of equities. “Our priority is to help clients make informed trading decisions by providing value-added tools – such as non-conflicted trading and algorithmic execution – and insights on issues that impact clients. Jason
- 22/12/2016
- 22/12/2016
Goldman Sachs is to pay civil penalty of USD120 million to settle CFTC charges that it attempted, by and through certain of its traders in New York, to manipulate and made false reports concerning the US Dollar International Swaps and Derivatives Association Fix (USD ISDAFIX), a global benchmark for interest rate products.
Goldman’s unlawful conduct involved multiple traders, including the head of Goldman’s interest rate products trading group in the US, according to the CFTC order.
The CFTC order also requires Goldman to cease and desist from further violations as charged, and take specified remedial steps, including measures to
- 22/12/2016
Blue Isle FX is to act as the prime broker for three Global Fund SAC hedge funds – the Geluk Global Gold Fund, the Global Marco Premier Fund and the Geluk Global Macro Accelerated Fund.
"We have been very impressed with the Blue Isle FX team, which is led by a 25+ year experienced team who offers only ECN/STP market liquidity and who fully understand the importance of direct market access with straight through processing. We're confident that by working with Blue Isle FX our trading team will have the advantage with institutional execution," says Geluk Capital Management founder Douglas
- 22/12/2016
The Polish Financial Supervision Authority (PFSA) has unanimously granted approval to Towarowa Giełda Energii (TGE) to operate an auction platform for CO2 emission allowances.
TGE has met the requirements for the auction platform set out in the Regulation of the Minister of Finance of 14 January 2016 concerning the operation of the regulated market and auction platform.
“The possibility of launching a CO2 trading platform is an important step in the development of the Exchange but, first and foremost, a good news for Polish companies covered by the European Union Emission Trading System (EU ETS), as they will gain
- 21/12/2016
The Lyxor Hedge Fund research team reports that November was an eventful month for investors. “The victory of Donald Trump at the US presidential election surprised pollsters and proved supportive for risk assets, against expectations. The MSCI World was up 2.7 per cent while fixed income markets continued to experience headwinds as the improved growth outlook led to a rise in bond yields.
“Hedge funds were cautiously positioned ahead of the US election and as a result failed to capture the market rebound. The Lyxor Hedge Fund Index was down 0.4 per cent in November as the rise in bond
- 21/12/2016
The SS&C GlobeOp Forward Redemption Indicator for December 2016 measured 5.67 per cent, up from 4.25 per cent in November.
"SS&C GlobeOp's Forward Redemption Indicator for December 2016 was 5.67 per cent, which reflects an increase from the 4.98 per cent reported in December 2015," says Bill Stone (pictured), chairman and chief executive officer, SS&C Technologies.
"This result effectively reversed the sharp decrease seen last month in the November numbers. For the full year 2016, the monthly Forward Redemption Indicator averaged 12 basis points higher than for full year 2015, a fairly modest change in the face of many
- 21/12/2016
Hedge funds need to strike the right balance between macro pressures and the often differing needs of its clients if they are to survive, according to a new report by FIS, a specialist in financial services technology.
The report – Growth 2020: The Changing Chemistry Between Hedge Funds and Investors – canvassed responses from 258 executives from hedge funds, administrators, prime brokers, custodians, consultants and investors. It highlights a number of key findings on how investors and hedge funds view the future of the industry and what the main challenges are. The upshot to the report is that the success
- 21/12/2016
Chicago trader Igor B Oystacher and his trading company 3Red Trading are to pay USD2.5 million to settle CFTC charges over spoofing and using a “manipulative and deceptive device” while trading futures contracts on multiple exchanges.
The US District Court for the Northern District of Illinois has entered a Consent Order of Permanent Injunction against the defendants, finding that the spoofing scheme involved at least five different futures contracts on four exchanges over a period of more than two years.
The court’s order stems from a CFTC complaint filed on 19 October 2015 relating to E-Mini S&P 500, copper,
- 21/12/2016
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