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Digital asset exchange operator CrossTower has announced USD150 million traded on its platform since its launch in May, and a record USD60 million in volumes traded in October. This makes CrossTower one of the fastest growing exchanges in the US, based on the value of instruments traded. CrossTower’s platform has been methodically built for institutional and individual investors with best-in-class safeguards, services and technologically advanced capabilities.
“The rapid rise of our trading volumes is a testament to our leadership in building a credible exchange and our commitment to compliance,” says Kapil Rathi, CEO of CrossTower. “Our bench strength and the rigour
Investor allocations to hedge funds have fallen for the third consecutive year – but the industry’s ability to weather economic turbulence and market volatility through active management will continue to attract investor attention, according to two new industry studies.
Hedge funds have notched up positive returns in recent weeks, positioning around the investment uncertainty surrounding the US presidential election and fresh Covid-19 lockdowns with gains inversely correlated to the sharp stock market declines seen at the end of October.
New data from Hedge Fund Research shows the industry as a whole was up 0.4 per cent last month, which took the HFRI Fund Weighted Composite Index’s year-to-date performance to 1.2 per cent.
As governments reimposed lockdowns in a bid to contain a renewed increase in coronavirus cases in many countries, HFR president Kenneth Heinz described October’s performance as “impressive”.
AccessFintech, a fintech company evolving the financial operating model through data and workflow collaboration, announces the launch of has launched a new derivatives cash payments affirmation service, working with Goldman Sachs.Read the full story at Institutional Asset Manager…
Buoyed by growing institutional appreciation of the potential of digital assets, ByteTree Asset Management has launched with the aim of offering professional investors means to access the asset class in a regulated manner, with the highest quality operational and legal structures. Read the full story at Institutional Asset Manager…
Jenny Chen has been appointed as Managing Director, Head of Sales in the Americas a big xyt, an independent provider of market data analytics and smart data solutions. Read the full story at Institutional Asset Manager…
Tether.to, a blockchain-enabled platform that powers the largest stablecoin by market capitalisation, has risen above USD17 billion in market cap.Read the full story at Institutional Asset Manager…
CBAM, an alternative investment management firm, has closed its third European collateralised loan obligation (CLO), Bastille CLO 2020-3, totaling EUR300 million, with Citibank acting as lead arranger. This brings CBAM’s total CLO issuance to USD11.5 billion since the closing of its first CLO in June 2017 and its total Euro CLO issuance since July 2020 to EUR950 million.
As of 30 September, 2020, CBAM’s AUM stood at USD13.3 billion across multiple credit vehicles and separate accounts.
Schulte Roth & Zabel (SRZ), a law firm serving the financial services industry, has added Douglas S Mintz as a partner and co-chair of the Business Reorganisation Group. Mintz, who is based in the Washington, DC office, was previously a partner at Orrick, Herrington & Sutcliffe.Mintz’s practice focuses principally on the representation of creditors in financial restructurings, including secured and unsecured lenders, ad hoc committees of noteholders, equity sponsors and distressed investors. He has deep experience advising on public finance, energy, commodities and technology restructurings. At Orrick, Mintz co-led the firm’s hedge fund client initiative, representing private investment funds in
CTAs and managed futures hedge funds gave back their early-month gains during October’s market reversal, but they managed to stay generally flat for the month as equities tumbled to their second consecutive monthly loss.
New data from Société Générale suggests the reversal in equity markets was “one of the hardest movements for CTAs to navigate” last month, the French bank said on Friday morning.
But SG’s trend indicator suggests gains across the bond sector and currencies – particularly rising trends in European bonds, and currencies such as Mexican peso and JPY versus USD – helped stem losses elsewhere.
Commodity markets
