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Renewed selling pressure has translated into sharp losses for risk assets lately, with the European banking sector at the forefront of the selloff, according to the latest Hedge Fund Brief from Lyxor. As usual in such episodes, equities, commodities and high yield credit were down, while “core” sovereign bonds posted gains.   Hedge funds have been pretty resilient in such adverse market conditions. As discussed in previous editions of this report, they have maintained a defensive allocation that proved highly supportive. The Lyxor hedge fund index was down 2 per cent during the period under review (2-9 Feb), while the
Cybersecurity specialist Cynet has secured a USD7 million investment from Lazarus, a US-based hedge fund. Cynet was founded in 2015 by Eyal Gruner, Idan Amir, and Boaz Zilber, recognised leaders in Israel’s flourishing cybersecurity industry. Since its launch last year, Cynet has already experienced rapid growth with a global client base that includes dozens of large-scale enterprises in finance, healthcare, government, retail, and industrial sectors among others.   “We believe Cynet could be the next cybersecurity giant to come out of Israel,” says Brian Abrams, partner at Lazarus. “With their comprehensive solution and rapid proof-of-concept deployments, Cynet is going head-to-head
Powernext and the clearing house European Commodity Clearing (ECC) are to introduce a series of new measures throughout 2016 in order to further accelerate the positive development of the TTF futures market. In 2015, the volumes traded on the TTF derivatives market via the PEGAS platform operated by Powernext increased to 429 TWh compared to 150 TWh in 2014. In addition, PEGAS set a new record with more than 100 TWh being traded in one month in January 2016.   Egbert Laege, CEO of Powernext, comments: “These new TTF initiatives will benefit our entire customer base and also attract further
Fund administration specialist Bedell has strengthened its presence in European markets by opening an office in Luxembourg to provide corporate, private equity/real estate and private wealth administration services. Luxembourg offers a platform of services and structuring opportunities to investors and managers with products including a wide range of special purpose vehicles. Bedell's expansion into the region is a natural extension of the organisation's multi-jurisdictional service capability.   Two directors have been appointed by Bedell to the new Luxembourg office management team. Anne-Catherine Grave, an economist and lawyer with over 15 years’ legal and financial services experience in Luxembourg and New
Hamed Ahmadi from the University of Oxford, Linacre College has been named as the winner of the inaugural Man AHL Coder Prize, a coding competition for students aged 16 and over. Ahmadi picks up a cash prize of GBP5,000. Mihail Dunaev, from the University of Edinburgh was named competition runner up.   Ahmadi’s coding skills were ranked first among entries received from 80 full-time students, ranging in age from 16 to 34 and spanning the educational spectrum from GCSE to PHD level. Entrants hailed from 31 institutions across the UK and Ireland, including secondary schools, sixth form colleges and universities.
The International Commodities and Derivatives Association (ICDA) is to hold a Blockchain Conference in the City of London in April 2016. Pursuing the Association’s strategy of exploring new products and technologies for the global commodities and derivatives markets, the conference is a major step in helping ICDA's members and others to understand the potential application of the distributed ledger infrastructure.   The Association is keen to emphasise that this conference is not about technology but about the business ramifications for the whole industry. It will discuss who may win, and who may lose, in the shake-up from a profitability and business
Hedgeweek is conducting a reader survey to gain a better insight into the current state of the hedge fund industry, and we would love you to participate… This poll of our readership is designed to provide insight into how hedge fund managers are having to evolve their business models to stay ahead of the competition, and how they are coping with increased regulation.  This research will investigate how hedge fund managers are managing with the onslaught of new hedge fund-like products emerging from the long-only side of the industry.  It will also look at how hedge funds are adapting to
Emmanuel Tahar (pictured), CEO of primary research partner Third Bridge, comments on the European Commission delaying the Mifid II deadline… The Mifid II directive is set to clamp down on trading commission bundling that often results in investors' research spend being misappropriated; spent by the buy side without a clear demonstration of the ROI it offers. This bundling is unfair to institutional investors, who see their money spent on sell side equity analyst research that is largely biased and rarely of much use. While some firms are putting stronger mechanisms in place knowing that the European Commission roll-out is coming,
Quintillion Limited, the European-based affiliate of US Bancorp Fund Services, has named Linda Gorman chief executive officer (CEO). Based in Dublin, Gorman brings more than 20 years of leadership experience to support the firm’s global alternative investment services. “Quintillion and the entire US Bank organisation are committed to helping our European-based clients achieve their goals,” says Joe Redwine, president for US Bancorp Fund Services. “We’re proud to promote Linda, who has been essential to our growth in an evolving market, and we look forward to continuing to build upon our offerings and client service under her leadership.”   Gorman is
US Listed Options volumes surged in January, while average bid/ask size drops to lowest in two years, according to the January 2016 TABB Options LiquidityMatrix (OLM). “January’s stock-market pain was the options market’s gain, with US listed options volumes rising to its highest monthly reading since August,” says TABB Group options research analyst Callie Bost, who manages the OLM.   January’s resurgence of violent market swings were a boon to US listed options trading. Volume last month totalled 364.4 million contracts, 7.6 per cent higher than December’s total and 3.2 per cent higher than the year-ago January.
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