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All six of IndexIQ’s family of IQ hedge absolute return indices recorded a positive performance in July.
The IQ Hedge Market Event Driven Index led the way with a return of 2.77 per cent for the month, followed by the IQ Hedge Long/Short Index which was up 2.59 per cent and the IQ Hedge Global Macro Index, up 1.13 per cent.
The IQ Hedge Multi-Strategy Index, the IQ Merger Arbitrage Index and the IQ Hedge Market Neutral Index recorded returns of 0.93 per cent, 0.64 per cent and 0.29 per cent, respectively.
“We saw markets relax a little
- 18/08/2016
- 18/08/2016
European exchange group Euronext is to acquire a 20 per cent stake in central counterparty EuroCCP for around EUR14 million, subject to closing adjustments.
This follows the announcement on 12 May confirming Euronext was in exclusive talks to acquire a stake in EuroCCP.
The completion of the transaction is subject to regulatory approvals and the deal is expected to close towards the end of the year.
The transaction will enable Euronext to offer user choice in clearing for the equity markets within the Eurozone, through the implementation of a preferred CCP model followed by a fully interoperable service,
- 18/08/2016
CBOE Futures Exchange (CFE) has been approved as a Registered Market Operator (RMO) by the Monetary Authority of Singapore (MAS).
CFE may now allow professional investors, accredited investors and expert investors, as defined under Singaporean law, to become CFE Trading Privilege Holders (TPHs) and access CFE’s market directly.
A growing number of market participants from outside the US are trading CBOE Volatility Index (VIX) futures, which trade on CFE nearly 24 hours, five days a week.
In addition to offering VIX futures in non-US trading hours, direct access to CFE’s market in Singapore enables CFE to further expand
- 18/08/2016
Edwin Chin, the former head trader in residential mortgage-backed securities (RMBS) at Goldman Sachs, is to be barred from the securities industry and pay USD400,000 to settle charges that he repeatedly misled customers and caused them to pay higher prices.
An SEC investigation found that Edwin Chin generated extra revenue for Goldman by concealing the prices at which the firm had bought various RMBS, then re-selling them at higher prices to the buying customer with Goldman keeping the difference.
On other occasions, Chin misled purchasers by suggesting he was actively negotiating a transaction between customers when he was merely
- 18/08/2016
The latest Hedge Fund Tracker analysis from S&P Global Market Intelligence shows the top funds managed approximately USD150 billion in equity holdings, up from the USD141 billion under management in the first quarter.
These funds also decreased the number of positions to 399 in the second quarter from 408 in the second quarter, breaking last quarter’s record as the fewest stock positions held since S&P Global Market Intelligence began tracking this data in 2014. Information technology and healthcare sectors were the biggest net sells for the top ten hedge funds.
“Like other market participants, hedge funds were at the
- 17/08/2016
Corporate credit specialist Muzinich & Co has added to its European syndicated loans team with the appointment of Torben Ronberg, Stuart Fuller, Sam McGairl and Alex Woolrich.
Muzinich & Co says expansion of its team forms part of a global effort to invest across the capital structure and provide compelling investment opportunities for investors.
The trio joins from ECM Asset Management, a subsidiary of Wells Fargo.
- 17/08/2016
Red Deer, a London-based FinTech company, has appointed Stefano Vaccino as chief product officer and Henry Price as chief commercial officer.
Vaccino joins Red Deer from Algomi, where he was chief product officer and a member of the executive team. Prior to this he co-founded the design company OltreDesign as well as spending six years as an executive director at Goldman Sachs. At Red Deer he will oversee product strategy and manage the entire development prioritisation process.
Price joins Red Deer from Traiana, a market infrastructure technology firm for trade processing and risk management, where he was head of product,
- 17/08/2016
Interest rate swap trading platform trueEX has built a solution to provide execution for Brazilian Real (BRL) interest rate swaps cleared at CME Group.
The launch follows CME Group's Q4 2015 launch of BRL interest rate swaps clearing, which has cleared more than BRL250 billion in notional from 25 market participants.
Through the collaboration, clients will be able to execute new risk, terminate or compact positions and process their positions directly at CME Group. BRL swaps traders will also be able to directly query their existing positions at CME via trueEX, just as they can with the 18 other
- 17/08/2016
The US Commodity Futures Trading Commission (CFTC) has filed a notice of intent to revoke, suspend, or place restrictions on the registration of Steven A Cohen of Greenwich, Connecticut.
The CFTC simultaneously issued an opinion and order accepting Cohen’s offer of settlement and settling the action.
The CFTC order immediately restricted Cohen’s registration as an associated person (AP) of SAC Capital Advisors. Additionally, pursuant to the order, Cohen agreed not to engage in any activity requiring registration with the CFTC or to act as an officer or employee of any person registered or required to be registered with the CFTC
- 17/08/2016
Franklin Square Capital Partners is consolidating its brands under the name FS Investments, with its affiliated broker-dealer FS2 Capital Partners becoming FS Investment Solutions.
The transition coincides with the firm's expansion of its alternative investment solutions, as well as its education and distribution platforms.
An abbreviation of Franklin Square, “FS” precedes the names of the firm’s investment funds – FS Investment Corporation (FSIC) and its three successor funds, FS Energy and Power Fund and FS Global Credit Opportunities Fund – as well as its co-managed operating company, FS OneEquity. Since 2011, FS Investments has been the firm’s brand for all investor
- 17/08/2016
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