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By A Paris – The outlook for growth in the Amsterdam financial services industry is optimistic, driven by the Brexit fallout, an increased need for political stability and access to a diversified support eco-system which can help alternative asset managers thrive.
Event driven managers, particularly those running merger arbitrage and special situations strategies, powered hedge funds’ performance in January, as the industry overcame retail investor-driven stock volatility to finish the month in the black.
The European Energy Exchange (EEX) and the Croatian Power Exchange (CROPEX) have signed an agreement to jointly develop a power derivatives market for Croatia.
Since launching in 2014, CROPEX, the local Power Exchange in Croatia, has actively grown its spot market, achieving a total trading volume of 6,447 GWh in their day-ahead and intraday markets in 2020. To further support this positive development, EEX and CROPEX have agreed to work together to introduce Power Derivatives for the Croatian market in 2022, subject to the approval of the relevant authorities and committees.
Dr Tobias Paulun, Chief Strategy Officer of EEX, says:
Neuberger Berman, a private, independent, employee-owned investment manager, has opened an office in Tel Aviv and appointed Daria Uchenik to the role of head of Israel client group, effective immediately.
Finxflo, the world’s first regulated, hybrid liquidity aggregator for digital asset investors, has launched an FXF token-based capital raise on Polkastarter, a protocol built for cross-chain token pools and auctions that enables projects to raise capital on a decentralised and interoperable environment.
The FXF token pool will go live on Polkastarter 8 February, 2021.
Finxflo is a regulated, secure trading platform designed to offer the best rates and prices from the world’s leading CeFi and DeFi protocols through one connection, one account, and one KYC process. The project has raised USD2.7 million in private contribution events for its FXF token,
Corgentum Consulting, a provider of operational due diligence reviews and background investigations, has launched a new suite of compliance, operations and risk products to support cryptocurrency investors and asset managers in digital currency investment strategies.
These new services will complement Corgentum’s already industry leading alternative investment operational due diligence (ODD) and investigative offerings.
With the explosive growth of virtual currencies bitcoin (BTC) and digital tokens such as ether (ETH) institutional investors and funds are rapidly putting more assets to work across the entire digital asset spectrum. Corgentum’s new products will offer cryptocurrency solutions for crypto asset managers including:
• Compliance
A class action lawsuit filed in California Southern District Court on 28 January, 2021 has been amended to include six hedge fund companies worth billions of dollars, a total of ten online brokers who manipulated the stock market, and the thirteen stocks involved.
The various brokers and hedge funds allegedly conspired together to knowingly deprive retail investors of the ability to invest in the open market during an unprecedented stock rise, in order to benefit the hedge fund companies, such as Citadel, Melvin Capital, and Maple Lane Capital. The lawsuit alleges that the online brokers involved froze the everyday investors
A spike in market volatility led CTAs and other managed futures hedge funds to hand back their initial early-year returns last month, as gains in commodities and bonds were outweighed by losses in currencies and equity indices.
Though two out of the three daily CTA benchmarks produced by Société Générale were in the black entering the final week of January, increasingly see-saw market patterns ultimately torpedoed the sector’s mid-month advance, SocGen said on Friday.
The main SocGen CTA Index, a daily performance benchmark comprising a select pool of 20 of the largest managed futures strategies, slumped to a 1.14 per
The co-ordinated billion-dollar raid on hedge funds’ short positions in GameStop by amateur traders represents another risk management factor in a battalion of emerging challenges that now confront managers’ portfolios, industry participants say.
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