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Hedge fund firms and other alternative asset managers are playing an increasingly important role in financing the economy, according to a new paper published by the Alternative Investment Management Association (AIMA).
The paper says that private debt funds such as hedge funds now manage around USD440 billion in assets, with some USD64 billion of new capital allocated to the sector in 2014 alone. [1]
The paper finds that the most popular borrowers of non-bank private debt are small and medium-sized enterprises (SMEs). Such businesses are typically too small to raise capital through the public corporate bond market and have
- 07/05/2015
BATS Global Markets (BATS) has filed the “BATS Exclusive Listings Proposal” with the Securities and Exchange Commission, seeking to improve investors’ trading experience in thinly-traded securities.
Under the proposal, to be implemented at the company’s discretion, the BATS exchanges would no longer offer trading in thinly-traded stocks that maintain a primary listing on other US stock exchanges. The program would apply to issues with average daily trading volume (ADV) of less than 2,500 shares, encompassing about 700 US-listed securities, and would remain in effect for a given security until ADV exceeds 5,000 shares over a rolling 90-day period.
BATS CEO
- 07/05/2015
- 07/05/2015
The US CFTC has filed a civil action against Heet Khara and Nasim Salim, residents of the United Arab Emirates, alleging that they engaged in ‘spoofing’ in the gold and silver futures markets – placing bids and offers with the intent to cancel them before execution.
Based on Defendants’ pattern of unlawful spoofing conduct and the potential for dissipation of Defendants’ assets, on 5 May, 2015, US District Judge Deborah A Batts issued an Order freezing and preserving assets under Defendants’ control and prohibiting them from destroying documents or denying CFTC staff access to their books and records. The court
- 07/05/2015
Derivatives marketplace CME Group saw total volume in April 2015 of 252 million contracts, down 2 per cent from April 2014, with 87 per cent traded electronically.
April 2015 volume averaged 11.5 million contracts per day, down 6 per cent from April 2014. Options volume in April averaged 2.3 million contracts per day, down 1 per cent versus April 2014, with electronic options growing 6 per cent over the same period. Of the total options volume, 52 per cent was traded electronically in April.
CME Group interest rate volume averaged 5.1 million contracts per day in April 2015,
- 06/05/2015
VOLEX Execution Services has announced VOLEX Liquidity Auctions for traders seeking liquidity beyond the current quotes represented by the US listed option markets.
The VOLEX Liquidity Auction uses exchange-sponsored auction sessions to attract liquidity that is not displayed.
Many option exchanges offer intraday auction sessions. However, the institutional market does not have the execution services or the tools required to tap this source of liquidity.
“Most smart order routers do not accommodate auction sessions for institutional clients,” explains Vishal K Gupta (pictured), Head of VOLEX Execution Services. “As spreads continue to widen, traders must adopt more advanced execution services
- 06/05/2015
TIG Advisors, an investment management firm with approximately USD3 billion in assets under management, has gone live with Eze Software Group’s investment suite.
TIG Advisors, which operates multiple investment strategies on its platform, has chosen Eze Software’s order management and portfolio management systems to manage its investment workflows and is in the process of adding Eze Software’s execution management system. TIG is one of 17 Eze Software clients to sign on for its full investment suite.
TIG Advisors now uses Eze Software Group to manage its entire trade workflow, from portfolio management to trade entry and execution. The firm’s
- 06/05/2015
Alternative investment and asset management firm Garrison Investment Group has selected iLEVEL to manage the firm’s portfolio data and streamline their reporting process.
Founded in 2007, Garrison Investment Group focuses on deploying capital in opportunities across corporate finance, financial assets, and real estate. Garrison will initially implement iLEVEL for their Business Development Company (BDC) and Corporate Lending funds.
“As our BDC and Corporate Lending businesses continue to grow, we recognise the need for a system to help us analyse portfolio data and report to our investors with greater efficiency and transparency,” says Michelle Rancic, Chief Accounting Officer, Garrison Investment
- 06/05/2015
Euronext has accelerated its transition plan following the announcement by Dominique Cerutti of his resignation on 22 April, by appointing Jos Dijsselhof as interim Chief Executive Officer (CEO).
The appointment is effective immediately, pending relevant regulatory approvals. As a result of this decision, the Board and Cerutti have jointly decided that Cerutti will leave the company immediately.
Rijnhard Van Tets, Chairman of the Supervisory Board of Euronext, says: “The Board of Euronext decided, having accepted Dominique Cerutti’s resignation from the company, that it would be in the best interests of all parties to act swiftly and to appoint a
- 06/05/2015
- 06/05/2015
Alternative investment manager Lexington Partners has renewed a three-year agreement, or "smartnership," with the Happy Hearts Fund to jointly rebuild three schools in Latin American countries.
This marks the second three-year pledge that Lexington Partners has made to Happy Hearts Fund. Lexington's initial pledge, in 2012, has resulted in the rebuilding of three schools for 1,086 children. In 2012, Lexington contributed toward the rebuilding of the Divino Nino Jesus School for 720 children in the region of Chincha, Peru. In 2013, Lexington contributed toward the rebuilding of the Jose Maria Pino Suarez School for 186 children in the region of
- 06/05/2015
Candriam Investors Group, a European multi-specialist asset manager, has launched a new absolute return Systematic Long Short Equity strategy.
Five different quantitative models are used in this strategy with the aim of creating a performance driver suitable for all market conditions. The strategy allocates the same risk budget to each model in order to obtain the best possible diversification and thus generate an absolute return with little correlation to the equity markets in which it invests.
The mathematical models deployed in the new fund have been developed over 18 years, being first introduced in 1997.The strategy targets returns of
- 06/05/2015
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