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LiquidityBook, an ASP-based provider of buy- and sell-side and OMS and FIX trading solutions, has appointed Sean Sullivan as Chief Revenue Officer. Sullivan, who will report directly to co-founders Kevin Samuel and Rick Goldenberg, will be responsible for the firm’s sales and business development strategy globally. Sullivan brings more than 20 years of experience in the financial technology industry to the firm. Most recently he served as Chief Revenue Officer for REDI Global Technologies, a leading trade management platform provider. Prior to that, he was Head of Global Sales for Eze Software Group, and was also a member of the
Liquid alternatives specialist AlphaSimplex Group has hired Alistair Lowe (pictured) in the newly created role of senior advisor to the firm’s investment committee. Lowe, an investment industry veteran, was most recently consulting with several investment management and financial technology firms. Before that he was with State Street Global Advisors, where he was chief investment officer for global equities and, previously, CIO of global asset allocation and currency.   “Alistair brings broad and deep experience with asset allocation and quantitative strategies to help support and build upon AlphaSimplex’s successful growth,” said Duncan Wilkinson, CEO of AlphaSimplex.   In his new role,
The administration of the CBOE Volatility Index (VIX Index) is now in alignment with the Principles for Financial Benchmarks established by the International Organisation of Securities Commissions (IOSCO). The VIX Index, calculated using real-time bids and offers of S&P 500 Index (SPX) options listed for trading on CBOE, is a recognised and accepted benchmark for futures and options trading under U.S. regulatory standards set by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).   CBOE policies and procedures cover administration of the VIX Index, which CBOE believes has contributed greatly to the VIX Index being considered
Hedge funds posted mixed performance to begin 2016 as global financial markets plunged, driven by steep declines in oil and concerns regarding the global impact of the slowing Chinese economy, resulting in the worst start to a year for hedge funds since 2008. The broad-based HFRI Fund Weighted Composite Index posted a decline of -1.7 per cent for January, bringing the Index Value to 12073.48, while the HFRI Asset Weighted Composite Index fell -1.2 per cent, according to data released today by HFR, the established global leader in the indexation, analysis and research of the global hedge fund industry. Total
Babson Capital Management, the investment manager for Babson Capital Global Short Duration High Yield Fund, has agreed contractually to waive a portion of its management and other fees, equal to an annual rate of 0.275 per cent of the Fund's Managed Assets for a period of one year retroactively commencing on 1 January, 2016.  Such waived fees are not subject to recoupment from the Fund.    In addition, the Fund announced its monthly dividend for February 2016 of USD0.1534 per share, payable on 1 March, 2016. This amount represents a 5.0 per cent reduction from previous estimates and is based
Triad has joined the AIREX Market Partner (AMP) Program, a global service that gives companies their own turnkey, self-curated, and co-branded AIREX Markets. AIREX Markets allow partners like Triad to offer their customers, clients, website traffic, and employees a large and growing assortment of financially actionable applications, information, and reports (Financial AIR).   Serving clients for 40 years, with domestic and international clearing in over 50 markets, Triad provides superior and personalised prime brokerage services to hedge funds of all sizes, family offices, RIAs, and professional traders. The deal with Airex offers the New York-based Triad and their global customer
CME Group Inc (CME) has reported revenue of USD814 million and operating income of USD470 million for the fourth quarter of 2015.  Net income was USD292 million and diluted earnings per share were USD0.86.  Adjusted for non-recurring items, net income would have been USD311 million and diluted earnings per share would have been USD0.921.   Total revenue for full-year 2015 was USD3.3 billion and operating income was USD2.0 billion. Net income was USD1.25 billion and diluted earnings per share were USD3.69. Adjusted for non-recurring items, 7 per cent year-over-year growth in revenue coupled with operating expenses down 1 per cent drove
Guernsey's funds sector is well-placed ahead of the activation of the Island's 'third country' passport, delegates at a Guernsey Finance-hosted ‘funds masterclass’ in London has heard. Approximately 300 delegates were in attendance on Wednesday [3 February] to hear a panel of leading funds experts debate the current market landscape as it relates to the Alternative Investment Fund Managers Directive (AIMFD) and National Private Placement (NPP) regimes.   Held at the British Museum, the event titled ‘NPP or third-country passport?’, considered the European Securities and Markets Authority’s (ESMA) recommendation that Guernsey should be given access to the AIFMD passport scheme and how the
In the fourth quarter of 2015, institutional asset owners gained approximately 2 per cent at the median, according to Northern Trust Universe data. This marked a significant rebound from the median loss of 4.6 per cent recorded in the third quarter. The Northern Trust Universe tracks the performance of about 300 large US institutional investment plans, with a combined asset value of approximately $899 billion, which subscribe to performance measurement services as part of Northern Trust’s asset servicing offerings.   Public Funds had the best performance in the quarter with a return of 2.7 per cent at the median, while
Bauer, the Italian high-end hotel group, and Blue Skye Investment Group, a special opportunity fund, have completed the reorganisation of Bauer’s EUR110 million debt, through a debt rescheduling and refinancing. Bauer has employed a new four-year senior secured bond issuance, which includes an additional EUR20 million tranche aimed to finance future investments and developments by the group’s main hotel, the prestigious Bauer Hotel in Venice.   Bauer’s chief executive officer Francesca Bortolotto Possati and Blue Skye’s co-founders Salvatore Cerchione and Gianluca D’Avanzo agreed a debt rescheduling and refinancing with issue of bonds pursuant to article 67 of the Italian bankruptcy

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