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FlexTrade Systems, a specialist in multi-asset execution and order management systems, has appointed Shane Remolina (pictured) as director of sell-side OMS technologies for North America. Based in the company’s headquarters in New York, Remolina will head sales and business development for FlexTrade’s sell-side OMS solutions.   According to Remolina, trading technology for the sell-side is ripe for disruption via innovation.   “Many firms are faced with intensified cost pressures due to operations, regulations and technology, and must differentiate themselves in order to increase market share,” he says. “FlexTrade is ideally positioned to provide that differentiation. This is accomplished in two ways. First and
Hathersage Capital Management, a global macro investment manager specialising in G10 currencies and absolute returns, has appointed veteran foreign exchange executive Andrew Wilkoff to the the newly created position of executive director and senior portfolio manager. Wilkoff, 48, will join the firm on 15 August and will report to Bill Lipschutz, chief investment officer and head of portfolio management.   “Andy adds great experience and depth to our portfolio management team and to the continued growth of Hathersage,” says Lipschutz.   Wilkoff comes to Hathersage from Standard Chartered Bank, where he was executive director/global investor sales in FX since 2014.
Banks are battling the rising cost of running their bond businesses by increasingly favouring a riskless-principal or order-driving trading model that leaves the responsibility to determine the best price for a bond increasingly shifting to pre-trade and real-time price modelling, according to TABB Group research on credit trading. As a result, increased transparency requirements, along with the proliferation of execution protocols and venues, are beginning to outpace the ability of participants in the global bond markets, making fixed income transaction cost analysis (TCA) tools essential for the buy-side to validate investment decisions.   TABB’s research, “Best Execution in Fixed Income:
KCG Holdings is to acquire Neonet Securities, an independent agency broker and execution specialist based in Stockholm, from its shareholders Hay Tor Capital, KAS BANK and Cidron Delfi Intressenter Holding. Financial terms of the deal have not been disclosed.     Founded in 1996, Neonet provides a suite of advanced algorithmic trading, smart order routing and sales trading primarily in European equities across 30 public and private markets to approximately 200 clients in more than 20 countries. Neonet strives to deliver transparent execution services to banks, brokers and financial institutions with an optimised balance of quality and cost.   The
Investment funds lawyer Christopher Knight (pictured) has joined Akin Gump as counsel in its investment management practice in the Hong Kong office. He joins the firm from the Hong Kong office of DLA Piper.   Knight has extensive experience advising financial institutions, investment banks, asset managers, sponsors and investors on the establishment and regulation of hedge funds, regulated funds and private equity funds. He has also advised on Shari’ah compliant investment fund structures.   “Chris’ arrival is a real boost to our investment funds team in Asia,” says Anne-Marie Godfrey, a partner in Akin Gump’s investment management practice in Hong
Tages Capital, in partnership with Anavon Capital, has launched the Tages International SICAV – Anavon Global Equity Long/Short UCITS Fund, the second sub-fund of Tages International Funds SICAV. The UCITS-compliant umbrella fund structure is domiciled in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF).   Anavon is an equity manager with a five-year track record in its global long/short equity strategy. The fund is launching with USD28 million of institutional capital with follow-on commitments in excess of USD30 million.   Justin Denham, chief operating officer of Anavon Capital, says: “Anavon is delighted with this partnership to offer
UBS Asset Management has appointed Hayden Briscoe (pictured) as head of fixed income, Asia Pacific, with immediate effect. Briscoe joins UBS from Alliance Bernstein, bringing a wealth of experience with more than 24 years of fixed income and currency experience.   In this new role, based in Hong Kong, he will oversee all fixed income portfolio management and business activities in the region.   "UBS Group has a strong presence and reputation in Asia and our Asset Management business has significant ambitions in key markets across the region,” says John Dugenske, global head of fixed income, UBS Asset Management. “I
Elevate, a provider of online credit solutions for non-prime consumers, has increased its credit facility with Victory Park Capital (VPC), a privately held registered investment adviser dedicated to alternative investing, by an additional USD100 million to a total of USD545 million. The company will use the additional capital to support the rapid growth of its credit products in the US and UK and for further investment in its suite of online credit solutions.   “Elevate has become a clear leader in this space and we are excited to support their growth,” says Tom Welch (pictured), principal at Victory Park Capital.
Teton Advisors has launched the TETON Convertible Securities Fund, which will be managed by the Dinsmore Group investment team. The Dinsmore Group, Thomas Dinsmore (pictured), Jane O’Keeffe and James Dinsmore, will join Barbara Marcin on the portfolio management team.   The Dinsmore team currently manages USD325 million AUM in convertible securities across three closed end funds: Bancroft Fund, Ellsworth Growth and Income Fund Ltd and The Gabelli Convertible and Income Securities Fund.   Thomas Dinsmore has been an equity analyst and portfolio manager at Dinsmore Capital since 1983 and led the team from 1993 to 2015. He joined Gabelli Funds
Investors redeemed a net USD20.70 billion from hedge funds in June, bringing second quarter net flows to negative USD10.68 billion and first half net flows to negative USD27.95 billion, according to eVestment’s latest Hedge Fund Industry Asset Flows Report. The redemptions saw global hedge fund assets drop below USD3 trillion again to USD2.99 trillion.   June redemptions were the largest June since eVestment began tracking monthly flows in 2009. Q2 outflows were not near historic, but were the industry’s third straight quarter of redemptions, which has not occurred since Q2 2009 (last of four quarters of redemptions). The first half

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