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Credit Suisse is to pay penalties totalling USD650,000 to settle charges that London-based Credit Suisse International exceeded the CFTC all-months speculative position limit for the Chicago Board of Trade (CBOT) wheat futures contracts in April and June 2009, despite having been granted an increased hedge exemption by the CFTC.
The penalty includes a USD140,000 charge against Credit Suisse Securities (USA) LLC (CSS-USA), based in New York, NY, for submitting materially false or misleading information during the CFTC’s investigation into certain inflated swap positions and thus inflated hedge exemptions for CBOT wheat futures contracts for CSS-USA, CSI, and other affiliates for
- 23/03/2016
Global institutional advisory firm Cornerstone Capital Management has been named as “Best 130/30 Strategy Hedge Fund” for 2016 by Hedgeweek.
The award celebrates Cornerstone’s outstanding performance in the long-short equity fund strategy and underscores the team’s ability to navigate the complexities of the market to drive strong portfolio returns in 2015.
The Hedgeweek Awards 2016 for excellence among hedge fund managers and service providers celebrate the achievements of firms that contributed to another significant year for the sector in 2015. The shortlist of top performers was produced by Preqin, the alternative asset industry’s leading source of data and intelligence, and
- 23/03/2016
CME Group, in its capacity as joint administrator and calculation agent for the LBMA Silver Price, and Thomson Reuters, are implementing new measures to further enhance and develop the LBMA Silver Price Benchmark, based on ongoing consultation with participants and approval of the independent Oversight Committee.
These new measures follow the introduction of a circuit breaker in January 2016 aimed at further developing the LBMA Silver Price Benchmark and protecting its integrity. This allows for the auction to be stopped, reset and restarted to address significant price movements during the auction, which are inconsistent with the underlying market.
The new
- 23/03/2016
Agecroft Partners has announced its leadoff Institutional Investor and Consultant panel for the Gaining the Edge – Hedge Fund Marketing Leadership Summit taking place in NYC on 28 April.
Panelist will include: Craig Bergstrom, CFA, Partner, Chief Investment Officer, Corbin Capital Partners; Andrew Fisch, Managing Director, Investcorp Investment Advisers LLC; Panayiotis Lambropoulos, CAIA, FRM, Portfolio Manager – Hedge Funds, Employees Retirement System of Texas; Chris Solarz, Managing Director, Head of Global Macro Strategies, Cliffwater, LLC; and Michael Weinberg, Senior Managing Director, Chief Investment Strategist, Protégé Partners, LLC.
The hedge fund industry is dominated by assets from institutional investors and
- 23/03/2016
New investments into hedge funds in February 2016 were a trickle at USD4.4 billion with performance losses of USD24.5 billion dropping overall industry AUM to USD2.94 trillion, according to the February 2016 eVestment Hedge Fund Asset Flows Report.
February has historically seen elevated flows into the industry. Over the prior six Februaries, from 2010 to 2015, investors added an average of USD22.6 billion in net new capital to hedge funds, according to eVestment data. The dramatically reduced new investment into hedge funds this February reflects investor dissatisfaction with 2015 returns.
While overall asset flows are a challenge for the
- 23/03/2016
Broadridge Financial Solutions has enhanced its Managed Data Service offering with the addition of several professionals with extensive experience in data management software.
Robert Revesz has been named Senior Director, with a focus on reference data client services and implementations. He joins Nathan Wolaver, Michael Sunwoo and Tim Versteeg, all of whom have joined the firm recently from Asset Control and are focused on strengthening the Managed Data Service solution. Revesz will be instrumental in helping to deliver the enterprise benefits of a managed reference data service across Broadridge’s global client base. He is based in New York.
“Banks
- 23/03/2016
The total value of funds business in Guernsey grew by GBP2.7 billion (1.2 per cent) during the fourth quarter of 2015.
Figures from the Guernsey Financial Services Commission (GFSC) show that, at the end of December 2015, the net asset value of all funds under management and administration in the Island stood at GBP227.6 billion – an increase of GBP8.2 billion (3.7 per cent) on the same point in 2014.
Guernsey closed-ended funds increased by GBP2.2 billion (1.6 per cent) to GBP140.6 billion during the fourth quarter, while Guernsey open-ended funds decreased in value by GBP0.7 billion (-1 per cent)
- 22/03/2016
- 22/03/2016
Cowen Group is to acquire CRT Capital Group’s credit products, credit research, special situations and emerging markets units. The acquired business will be named Cowen Credit Research and Trading and will focus on distressed debt, special situations and emerging markets.
CRT will use the proceeds from the transaction to invest further in its Equities, Banking and Rates businesses.
CRT’s Credit Products unit encompasses the sales and trading of distressed convertibles, high yield securities, distressed debt, private placements and trade claims. The Credit Research unit is focused on distressed and special situations coverage and cross-capital structure. The Special Situations group includes
- 22/03/2016
- 22/03/2016
Violin Memory, provider of all-flash storage platform solutions for primary storage and active workloads, and Stream Financial have launched FlashSync, a Data Portal Appliance that aims to provide ultra-high performance access to and interrogation of multiple data sources.
FlashSync has been designed to address a range of use cases in Financial Markets including intra-day risk management; BCBS239 reporting; internal & external stress testing; VaR aggregation; contingent liability modelling; and crisis reporting.
The solution comprises Stream Financial’s Data Fusion federated query software running on high performance servers, accelerated with Violin Memory’s enterprise Flash Storage Platform solutions.
FlashSync is unique
- 22/03/2016
Liquidnet, the global institutional trading network’ buy-side community of more than 800 asset managers can now trade Taiwan-listed securities directly and anonymously with one another through its platform.
The addition of the Taiwanese market continues Liquidnet’s expansion in Asia-Pacific and represents its 12th market in the region and 44th equity market worldwide.
The Taiwan Stock Exchange (TWSE) lists over 800 companies with a combined market capitalisation of USD879 billion1. Dominant sectors in this market include technology and industrials. The Taiwan Stock Exchange Weighted Index (TWSE:IND) has climbed more than ten per cent over the past three years.
“For
- 22/03/2016
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