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The SS&C GlobeOp Forward Redemption Indicator for June 2020 measured 4.24 per cent, up from 4.00 per cent in May.
“SS&C GlobeOp’s Forward Redemption Indicator for June 2020 of 4.24 per cent was closely in line with historical averages for the month of June, though up somewhat from the very favourable 3.81 per cent reported a year ago,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “This level of redemptions is consistent with other recent data points, indicating generally steady overall trends in asset retention for the hedge fund sector since the Covid-19 outbreak.”
The SS&C GlobeOp Forward Redemption
Tether, the blockchain-enabled platform behind the largest stablecoin by market capitalisation, and Compound, a decentralised lending market, are spearheading growth in the nascent decentralised finance (DeFi) space as USDt volume on the platform has surged above USD100 million.
Major growth in the trading of cryptocurrency assets, including during the Covid-19 pandemic, is driving demand for low latency access to the Amazon Cloud (AWS) in London from sophisticated institutional investors, operating in the derivatives market in particular.
Since the start of this year, 30 per cent of Avelacom clients already involved in crypto trading are now accessing AWS London and the global connectivity provider expects this to rise to 50 per cent within months.
Digital assets are characterised by high volumes traded across multiple regions, which now includes London as more crypto-exchanges and trading firms deploy their cloud-based
Hedge funds are circling Wirecard AG, the troubled German electronic payment processing company, which saw its share price plummet further on Friday morning (19 June) following revelations of alleged accounting imbalances.
The Munich-headquartered company revealed this week that some EUR1.9 billion worth of reported cash balances – an estimated quarter of its total balance sheet – could not be verified by auditor EY.
Shares in the DAX 30-listed firm crashed following the statement, sliding from EUR100.40 on Thursday to under EUR20 at one point on Friday morning.
Wirecard is now a key a target of several short-sellers, with well-known hedge funds including
Independent outsourced trading solutions firm Outset Global (outsetglobal.com) has appointed Edward McCabe as a Managing Director in the firm’s New York office.
McCabe brings with him a wealth of specialist knowledge in trading equity markets and extensive buy-side experience, which is key for Outset’s offering. He is the third senior hire for Outset Global in 2020 as the independent outsourced trading space continues to garner wider appeal.
McCabe’s 20 years of buy-side experience include a vast range of specialised roles beyond most professionals in the field. He has served in capacities ranging from running a startup (“Tiger cub” – Long
Metaverse, the public and open-source blockchain protocol which provides digital identities, oracles, and smart contract network, is listing its native Metaverse Dualchain Network Architecture token (DNA) on popular crypto exchanges Bittrex Global and OKEx.
Founded by CEO Eric Gu, original co-founder of NEO, and CTO Chen Hao in 2016, Metaverse officially launched its blockchain in February 2017. Metaverse’s vision is to build a network of smart properties on the blockchain, alongside a decentralised exchange for smart contracts and secure infrastructure.
DNA tokens are part of a parallel chain developed by the Metaverse Foundation. The DNA chain uses a novel
Deutsche Bank has agreed to pay over USD10 million to settle two Commodity Futures Trading Commission (CFTC) enforcement matters.In the first matter, Deutsche Bank resolved federal court charges stemming from alleged violations of various swap data reporting and other regulatory violations. In the second matter, the CFTC issued an administrative order against Deutsche Bank Securities Inc. (DBSI), filing and settling charges that two of DBSI’s traders engaged in spoofing. According to the order, DBSI manually placed bids or offers on the Chicago Mercantile Exchange (CME) with the intent to cancel those bids or offers before execution, an illegal practice known
Truss Edge, a dedicated technology and advisory firm serving the global fund management industry, has launched further improvements to its service.The new improvements focus on cash functions within fund management middle offices and illustrate the importance of the cash operations within an asset management business. Key areas of focus include cash reconciliation, including settlement matching intelligence and better cash use projections for trading desks.
All the updates are part of the latest update from Truss Edge and are available immediately to existing Truss Edge clients.
Jay Duffy, CEO of Truss Edge, says: “Managing cash requires that funds have clarity on
The second day of this year’s hedgeweekLIVE North America digital summit featured a lively discussion on fee structures – a perennially-thorny issue in the global hedge fund industry – with panelists delving deep into the emerging trends in incentives and fee models, and exploring the ways in which start-up hedge funds can better align their interests with those of investors.
Wells Fargo’s alternative investment feeder fund platform, which supports a full suite of alternative investment solutions including hedge funds and direct private investments, is to be acquired by iCapital Network.Read the full story at Wealth Adviser…
