Morten Spenner, chief executive at International Asset Management

IAM favours long/short equity managers focused on emerging markets

Fund of hedge funds manager International Asset Management says it continues to favour the opportunity set for long/short equity managers focused on the Asian and emerging markets. »


Grades

GlobeOp completes Type II exam for fund administration controls

GlobeOp Financial Services has completed a Type ll independent examination of its middle, back office and fund administration controls and Transaction Solutions, according to new international standards replacing Statement on Auditing Standards No.70 (SAS 70). »


Market

NYSE Euronext derivatives trading volume up 6.2 per cent

Global derivatives average daily trading volume totalled 7.5 million contracts in October 2010, up 6.2 per cent versus the prior year but down 2.9 per cent from September 2010, according to figures from NYSE Euronext. »


Ponzi scheme

CFTC charges Richard Theye and Micind Capital with running Ponzi scheme

The US Commodity Futures Trading Commission has filed an action in federal court in Austin, Texas, charging Richard D. Theye and his company Micind Capital Management with fraud in connection with running a multi-million dollar Ponzi scheme. »


Traders

Hedge funds post second consecutive month of gains in October

Hedge funds posted the second consecutive month of gains in October, as equity markets continued their broad advance on improving prospects for global economic growth. »


Globe and graph

Hedge funds advance 1.9 per cent in October

The Hennessee Hedge Fund Index advanced 1.9 per cent in October and is up 6.6 per cent year-to-date. »


Fraud

CFTC charges Highlands Capital Management with defrauding customers

The US Commodity Futures Trading Commission has filed an enforcement action charging Highlands Capital Management, based in San Francisco, California, and its principal Glenn Kane Jackson of Tiburon, California, with operating a fraudulent off-exchange foreign currency scheme. »


David Friedland, president of the Hedge Fund Association

Hedge Fund Association opposes self-regulatory organisation

The Hedge Fund Association is opposing the creation of any hedge fund self-regulatory organisation. »


New York

Braver Stern Securities grows trading operation in New York

Braver Stern Securities, an independent broker-dealer, has appointed Peter D. Howard as a managing director and head trader of CDOs, CLOs and esoteric asset-backed securities. »


Dutch clogs

Solid gains for Dutch hedge funds in September

Dutch hedge funds posted an average gain of 2.2 per cent in September, as measured by the Finles/IEX Dutch hedge fund index. »


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