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BATS Global Markets (BATS) has completed its acquisition of Hotspot FX, an institutional foreign exchange (FX) market, from KCG Holdings.
The transaction was announced January 28th and received Hart-Scott-Rodino clearance from the US Department of Justice on 18 February. Hotspot will continue to be led by Bill Goodbody, Jr, who has managed the entity since 2008. He and the rest of the New York-area Hotspot team will be based in the BATS office in lower Manhattan.
BATS CEO Joe Ratterman, says: “Today is a major milestone for BATS as we expand into a truly global asset class, a market whose
- 16/03/2015
ALTIN AG’s share buyback through a put options programme launched on 27 February has been very successful with 3,741,610 put options out of the 3,823,867 (97.85%) having been exercised.
This corresponds to the repurchase of 374’161 shares, or 9.78% of the share capital, very near the target level of 10% set by the Board of Directors. The repurchased shares will be cancelled after approval at the Annual General Meeting on 11 May 2015 and the capital will thus be reduced by 9.78%.
The share buyback has proven very effective in reducing the discount and the difference between the NAV
- 16/03/2015
- 16/03/2015
Hedge funds based in the Asia-Pacific region employ women in 11 per cent of C-level positions, higher than managers in North America and Europe, according to research by Preqin.
By comparison, North America employs 10.9 per cent, while Europe-based managers have the worst representation of women in senior roles, with only 6.6% held by females. Looking at specific countries, Hong Kong has the best display of gender equality; almost 13% of senior roles at single-manager firms are held by women, and 28% at fund of hedge fund managers.
The figures though, highlight that more needs to be done. Single-manager hedge
- 16/03/2015
Montreux Capital Management has boosted the team behind its Commodity Trading Fund with the addition of experienced geologist and small cap mining entrepreneur Dr Steven Newbery.
Newbery, who is joining as an advisor to the fund, has more than 25 years’ experience in the discovery of base and precious metals. He has been responsible for the establishment, capital raising and market listing of a number of mining companies and has acquired significant industry experience at an executive level in volatile market environments.
Newbery is the founder of the Dubai-based MLI Group of companies, while he also resides on and acts
- 13/03/2015
Institutional investors will be targeting alternative investments over the next two years, with infrastructure assets generating the greatest interest, according to the latest issue of The Cerulli Edge-Global Edition.
Of the 56 European institutions surveyed by global analytics firm Cerulli Associates, in partnership with Institutional Investor, 53% plan to increase their exposure to infrastructure over the next 12 to 24 months.
"Real estate, hedge funds, and private equity can also expect near-term inflows, with net 36%, 21%, and 13% respectively of investors due to boost allocations," says Barbara Wall, Europe research director at Cerulli. "Over the next five years, this
- 13/03/2015
- 13/03/2015
Orc is to expand coverage of Nasdaq markets to include Nasdaq Futures Inc (NFX), the exchange group's US-based designated contract market (DCM), on its first day of trading.
Through NFX, Nasdaq will expand its commodities business with futures and options on key energy benchmarks including oil, natural gas and U.S. power, which will launch in 2015. Market participants will be able to manage their trading and hedging needs in a cost-efficient manner, using an innovative horizontal clearing solution operated by The Options Clearing Corporation.
"We are dedicated to evolving our Execution Bricks offering and look forward to providing sophisticated and
- 13/03/2015
Indus Valley Partners (IVP), a provider of alternative asset management solutions, has appointed Sachin Kachhla as its Managing Director for Sales and Client Relations.
Kachhla has over 10 years’ experience advising hedge funds and asset management firms and selling them technology solutions to meet their strategic requirements.
Prior to joining Indus Valley Partners, Mr. Kachhla established and grew the North American business of Tradar, a leading portfolio management system provider, from under five clients to over fifty. He was then instrumental in selling the company to Eze Castle Software. At Eze, Kachhla was part of the executive sales team
- 13/03/2015
LMAX Exchange, an FCA regulated MTF for global FX trading, has become a member of the Linux Foundation, the non-profit organisation dedicated to accelerating the growth of Linux.
LMAX Exchange will be a part of the Linux Foundation’s new Core Infrastructure Initiative, a multi-million dollar project bringing together more than 20 major international technology companies, including Microsoft, Intel, Google and Cisco, to identify and fund critical open-source infrastructure projects in need of investment.
Andrew Phillips, Director of Technical Operations at LMAX Exchange, says: “At LMAX Exchange we are firm believers in the power of open source technology to upend
- 12/03/2015
Industry veteran Chris Jackson has joined Liquidnet as European Head of the firm’s Execution and Quantitative Services (EQS) Group.
Jackson brings over twenty years of experience to this new role which will involve setting the strategic direction of the European Trading Desk and Algorithmic Services Group, as well as heading up the senior sales effort for Liquidnet's global algorithmic offering with European clients.
Jackson's' appointment marks significant progress in Liquidnet's strategy to provide its network – which includes nearly 780 of the world’s leading asset managers – with new and more efficient ways to source diverse liquidity and satisfy
- 12/03/2015
The hedge fund industry is transforming, with managers increasingly focused on customised products and solutions, new investors, and emerging markets.
That’s the conclusion of "Growing Up: The new environment for Hedge Funds," a new report produced by KPMG International, the Managed Funds Association (MFA), and the Alternative Investment Management Association (AIMA).
The report is based on global research, with more than 100 hedge fund managers representing approximately USD440 billion of assets under management. Their views reflect fundamental shifts occurring in the hedge fund industry; key findings include:
• A majority of hedge fund managers expect a significant shift in
- 12/03/2015
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