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Baird is to acquire Chautauqua Capital Management, a global investment manager based in Boulder, Colorado. The deal will enable Chautauqua Capital to focus on the performance of the firm’s global and international investment strategies while Baird provides the back office services and support for Chautauqua Capital clients. The transaction is expected to close in early 2016.   Chautauqua Capital’s globally experienced investment team is led by Chief Investment Officer Brian Beitner, CFA. Beitner is a veteran investor who was previously a senior portfolio manager of Trust Company of the West’s Concentrated Core Equities portfolio management team, which he joined in
Commodity Futures Trading Commission chairman Timothy Massad (pictured) comments on the proposed rule on automated trading… The Commission has approved a proposal that addresses the increased use of automated trading in our markets. I strongly support this important action. In the futures markets, today almost all trading is electronic in some form. And over the last few years, more than 70 per cent of all trading has become automated. Automated trading has brought many benefits to market participants. These include more efficient execution, lower spreads and greater transparency. But its extensive use also raises important policy and supervisory questions and concerns. The
In this extract from November’s Preqin Hedge Fund Spotlight, Alastair Hannah takes a detailed look at CTA launches, different trading methodologies, strategies and markets traded, as well as providing an outlook for the rest of the year. CTA launches Fifty CTAs have launched in the first nine months of 2015 to 30 September (Fig 1). Although the number of funds launched this year is likely to grow as managers bring new funds to market in the final quarter, and also due to more data becoming available, 2015 looks set for the fewest CTA launches since 2006. Similarly, the proportion
SS&C Technologies Holdings has appointed Smita Conjeevaram (pictured), an industry veteran with decades of  experience leading the operations of global financial services companies, to the firm’s Board of Directors.  A CPA with ten years of experience in the Big 4, Conjeevaram is a well qualified financial expert with significant regulatory and international tax expertise. In her most recent operational role, she served as chief financial officer of the credit hedge funds of Fortress Investment Group, a USD74 billion global investment firm. Prior to that, she served as the CFO of Everquest Financial, Strategic Value Partners, ESL Investments and Sentinel Advisors.
Depressed share price valuations and governance concerns have ignited shareholder activism campaigns against three business development companies (BDCs) over the last several months, including two rated by Fitch Ratings. Fitch believes the heightened dialogue may lead to strengthened oversight, which would be beneficial for BDC creditors, provided other equity-friendly measures are not over emphasised.    The Fitch-rated universe of BDCs was trading at an average discount to net asset value of 14.3 per cent as of 19 November. Given the significant number of new BDCs operating, variations in governance quality have emerged. Activist presence may trigger more widespread attention to
The US Commodity Futures Trading Commission (Commission) has unanimously approved proposed rules that mark a comprehensive regulatory response to the evolution of automated trading on US designated contract markets (DCMs). The proposed rules, known collectively as Regulation Automated Trading or Regulation AT, represent a series of risk controls, transparency measures, and other safeguards to enhance the US regulatory regime for automated trading. The notice of proposal will be open for a 90-day public comment period.   Regulation AT takes a multilevel approach by proposing risk control and other requirements for (a) market participants using algorithmic trading systems (ATSs), who are
ITG has added trading in India and Taiwan equities to the award-winning POSIT Alert crossing network. ITG now offers POSIT Alert in ten Asia Pacific markets, reflecting the ongoing demand for crossing tools in the region and reinforcing ITG’s global commitment to high quality, block size liquidity for institutional investors. In addition to India and Taiwan, the POSIT Alert block crossing platform is now available for trading Australia, Hong Kong, Indonesia, Japan, Korea, Malaysia, Philippines and Singapore as well as 22 EMEA countries, Brazil, Canada, Mexico and the U.S.   Ofir Gefen (pictured), Head of Electronic Brokerage for ITG in
Exchange Data International (EDI), a provider of global security corporate actions, pricing and reference data, has fully implemented ISO 15022 messages for its Worldwide Fixed Income offering. The EDI service provides a comprehensive overview of the global fixed income market. It covers new corporate, government bond and government agency issues from 150 countries, as well as changes to their terms and conditions.   The newly released ISO feed is available on its own or integrated with EDI’s existing Equity SWIFT ISO 15022 offering. It covers all messages, including cash flows, partial and full redemptions and conversions. It also captures defaults and bankruptcies.     Kevin Brady, EDI’s
The Chicago Board Options Exchange (CBOE) has created five new options-based strategy performance benchmark indexes that focus on options as risk management and yield enhancing investment tools Index values for the new benchmarks, which are tied to the Russell 2000 Index (RUT), will be available on CBOE's website and from quote vendors beginning Monday, November 23, 2015.   Inspired by CBOE's flagship strategy benchmark series, the new benchmarks use RUT options to create a CBOE Russell 2000 PutWrite Index, a CBOE Russell 2000 Zero-Cost Put Spread Collar Index, a CBOE Russell 2000 30-Delta BuyWrite Index, a CBOE Russell 2000 Conditional
Alternative investments specialist Franklin Square has hired Marc Yaklofsky as Senior Vice President of Corporate Development. Yaklofsky will lead business development and strategic initiatives, while further developing Franklin Square’s stakeholder communication efforts.   “Marc has extensive experience in business development and stakeholder relations, and is an excellent addition to our team,” says Michael F Gerber, Executive Vice President of Franklin Square. “As we have grown as a firm, so too have our opportunities to execute on strategic initiatives, and we look forward to Marc helping us continue our growth.”   Yaklofsky was most recently Managing Director, Head of Stakeholder Relations,

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