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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,
- 12/02/2016
- 12/02/2016
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
- 12/02/2016
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.

The S&P 500
- 12/02/2016
- 12/02/2016
The latest semi-annual survey of the European repo market by the International Capital Market Association (ICMA), has set the baseline figure for market size at EUR5,608 billion, broadly unchanged from the June 2015 survey figure of EUR5,612 billion.
The survey calculates the amount of repo business outstanding on 9 December 2015 from the returns of 72 offices of 68 financial groups, mainly banks,
The relative stability of outstandings between the two surveys is down to the expansion of non-EU banks' European repo books. Meanwhile, the study notes a decline in the activity of G-SIFIs (Global Systemically Important Financial Institutions),
- 12/02/2016
The Financial Industry Regulatory Authority (FINRA) has barred two Buffalo-based brokers – Timothy S Dembski and Walter F Grenda – from the securities industry for fraud in connection with the sale of a hedge fund, the Prestige Wealth Management Fund.
Dembski and Grenda’s misconduct occurred while they were employed with Mid Atlantic Capital Corporation.
FINRA’s investigation found that Dembski and Grenda made material misrepresentations and omissions to lead investors to believe that the hedge fund was a “growth” fund that would be based on a computer algorithm that automatically included risk protections and stop-losses to limit losses in the
- 12/02/2016
A new study from The Chicago Board Options Exchange (CBOE) examines six benchmark indexes that invest in Russell 2000 Index (RUT) options and compares their performances with those of traditional benchmark stock and bond indexes.
This is the first comprehensive study that examines the performance of multiple options-strategy benchmark indexes that incorporate Russell 2000 Index options.
Written by Mark Shore (pictured), an adjunct professor at DePaul University's Kellstadt Graduate School of Business, and sponsored by CBOE, the study, “Analysing Russell 2000 Index Options-Based Benchmark Indexes Designed to Provide Enhanced Yields and Risk-Adjusted Returns,” looks at the performance of six
- 12/02/2016
The Lyxor Hedge Fund Index was down 0.9 per cent in January, despite positive performance from five out of the 11 Lyxor Indices, according to Lyxor’s latest Alternative Investment Industry Barometer.
The Lyxor CTA Long Term Index (+2.2 per cent), the Lyxor Global Macro Index (+0.7 per cent), and the Lyxor Fixed Income Arbitrage Index (+0.7 per cent) were the month’s best performers.
Hedge Funds displayed remarkable resilience in January. Both markets and analysts started the year with reasonable growth expectations. These were aggressively revised down, triggered by the release of the disappointing Chinese PMI and the CNY depreciation.
- 12/02/2016
Two out six of IndexIQ’s proprietary family of hedge fund replication and alternative beta indices recorded positive performance in January.
The IQ Hedge Market Neutral Index led the way with a return of 0.33 per cent followed by the IQ Merger Arbitrage Index at 0.13 per cent.
The month’s biggest loser was the IQ Hedge Long/Short Index which was down 2.83 per cent for the month, while the IQ Hedge Event Driven Index (-2.42 per cent), the IQ Hedge Multi-Strategy Index (-1.13 per cent), and the IQ Hedge Global Macro Index (-1.03 per cent), also finished the month in negative territory.
- 11/02/2016
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for January 2016 measured -2.86 per cent. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.66 per cent in February.
"SS&C GlobeOp's Capital Movement Index rose 0.66 per cent for February 2016 after a decline of -3.28 per cent in January of 2016," says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. "This improvement is very much in line with normal seasonal patterns. In fact, the 0.66 per cent gain for February 2016 is almost identical to the year ago gain of
- 11/02/2016
The global hedge fund industry started the year off on a negative note, with a -2.22 per cent aggregate return in January, according to eVestment’s January 2016 Hedge Fund Performance Report.
Peter Laurelli (pictured), eVestment vice president and head of research, author of the report reveals that only 32 per cent of funds were positive in January, but there were some bright spots in the industry. For instance, nearly 70 per cent of macro and managed futures funds were positive last month.
Managed futures funds’ +1.89 per cent return in January is the best monthly aggregate return since January
- 11/02/2016
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