Latest News
CubeLogik is creating a cloud-based one-stop-shop version of its CubeIntelligence platform for credit risk, market risk, liquidity management and regulatory compliance.
Headquartered in London, with representation in the US and Asia, CubeLogik was formerly an operating division of OpenLink, but is now a fully independent entity with management led by industry veterans David Priestley (pictured) and Lee Campbell.
Priestley says: “Market volatility, coupled with increasingly onerous regulatory changes, are driving the disciplines of credit risk, market risk and liquidity management closer together. Our clients require integrated, highly functional solutions that will sit on top of their trading and accounting
- 26/09/2016
Cowen Prime Services, the prime services division of Cowen Group, has been named Best North American Prime Broker at the 2016 Hedgeweek USA Awards.
The award is based on a peer review system whereby Hedgeweek’s readers, including institutional and high net worth investors, hedge fund managers and other industry professionals at fund administrators, prime brokers, law firms, custodians and advisers, select the top performer in a series of categories.
Jack D Seibald, global co-head of prime brokerage services, says: “We are proud that Hedgeweek readers voted for Cowen Prime as the Best North American Prime Broker. As former investment
- 26/09/2016
AIMA Canada, the national group of the Alternative Investment Management Association, has welcomed the Canadian Securities Administrator’s (CSA’s) proposed amendments to National Instrument 81-102 and related National Instruments.
Once finalised, these amendments potentially will allow Canadian retail investors to add alternative strategies to their investment portfolios.
Alternative investment fund strategies have historically been only available to high-net-worth individuals or institutions.
“Despite the strength and longevity of the alternative investment industry in Canada, it has remained relatively small compared to the US and other regions globally, in part due to regulations that have made it difficult for investors to
- 26/09/2016
Who would want to be a start-up hedge fund manager? Simon Schilder, partner at Ogier in Jersey, and TEAM BVI UK member with BVI Finance, examines the challenges facing the next generation…
The challenges facing the next generation of hedge fund managers are starker than ever before, with increased barriers to entry caused by an ever increasing regulatory burden coupled with the continued existence of a macro-economic environment impacting upon investment performance.
For emerging managers seeking to attract investor allocations, the need to be able to demonstrate a proven track record to prospective investors has never been more important. Generally institutional investors will
- 23/09/2016
Advantage Futures, a Chicago-based futures commission merchant (FCM), the firm’s CEO Joseph Guinan and former chief risk officer William Steele are to jointly pay USD1.5 million to settle CFTC charges over supervision and risk management failures, and making inaccurate statements in CFTC fillings.
The CFTC charges cover failure to diligently supervise the handling of certain commodity interest accounts, for deficient risk management and credit risk practices, and for knowingly making inaccurate statements to the CFTC through the submission of required risk manuals and the Annual Chief Compliance Officer’s Report.
The CFTC order also charges Guinan and Steele with failing
- 23/09/2016
IHS Markit is teaming up with AITEC and the Alternative Investment Management Association (AIMA) to strengthen its Know Your Third Party (KY3P) platform.
The relationship brings together KY3P’s private cloud, one-to-many platform with the AITEC-AIMA Illustrative Questionnaire for Due Diligence of Vendor Cyber Security.
The new questionnaire available on KY3P enables AITEC and AIMA member firms to centralise their approach for vendor outreach and establish a workflow and governance process to promote timelier, efficient and quality responses. Member firms also have the flexibility to add their own supplemental questions for vendor response.
“AIMA is delighted that, as a
- 23/09/2016
IKONIC Fund Services, a provider of fund administration services including accounting, investor services and corporate governance to alternative funds, has been awarded the Best Offshore Fund Administrator by Hedgeweek for the 2016 US Awards.
The Hedgeweek awards are based on peer reviews whereby Hedgeweek’s readers – comprised of institutional investors and fund managers – elect a ‘best-in-class’ provider in various categories through an online survey.
“We are extremely proud to win this Hedgeweek award and are very grateful to our clients and other service providers we work closely with who have voted for us,” says Brian Desmond, head of
- 23/09/2016
Thomson Reuters has signed a definitive agreement to acquire REDI Holdings, a trading technology pioneer whose flagship REDIPlus execution management system (EMS) provides advanced cross-asset class trading capabilities to the buy-side.
The acquisition is expected to close by the end of Q4 subject to customary closing conditions including regulatory approvals.
The REDI acquisition is intended to help Thomson Reuters deliver an integrated workflow solution to the buy-side trading community. By incorporating REDI’s trading capabilities into Eikon, Thomson Reuters next-generation financial markets desktop, and Elektron, its suite of data and trading propositions, Thomson Reuters will enable institutional traders to move seamlessly from
- 23/09/2016
The Securities and Exchange Commission (SEC) has charged hedge fund manager Leon G Cooperman and his firm Omega Advisors with insider trading based on material non-public information he learned in confidence from a corporate executive.
The SEC alleges that Cooperman generated substantial illicit profits by purchasing securities in Atlas Pipeline Partners (APL) in advance of the sale of its natural gas processing facility in Elk City, Oklahoma.
Cooperman allegedly used his status as one of APL’s largest shareholders to gain access to the executive and obtain confidential details about the sale of this substantial company asset.
Cooperman and
- 23/09/2016
Lower recent performance, high-profile redemptions and increased concern from investors on the issue of fees have influenced many hedge fund managers to bring their management and performance charges below the “2 and 20” industry standard.
That’s according to the latest research from Preqin which reveals that just 35 per cent of hedge funds tracked by the company currently charge both a 2 per cent management fee and a 20 per cent performance fee, and average fees have fallen over recent years.
In 2016, the mean management fee is 1.57 per cent, while the mean performance fee is 19.29 per
- 23/09/2016
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