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The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against Matthew . White and MW Global Futures LLC (MWGF), both of Florida, for fraudulently soliciting approximately USD1.2 million for a pooled investment vehicle trading commodity futures contracts, misappropriating over USD280,000 in pool participants’ funds to pay for personal expenses, and operating without registration as required. The order requires White and MWGF to pay a USD200,000 civil monetary penalty and USD883,974 in restitution, of which USD602,003 has already been paid. The order also requires White and MWGF to cease and desist from further violations of the Commodity
Vela, an independent provider of trading and market access technology for global multi-asset electronic trading, has expanded its global Product and Account Management teams with new hires in London and New York.Based in London, Cedric Rondeaux joins Vela from ICE Data Services as Product Manager, reporting to the Chief Product Officer, Ollie Cadman. As a subject matter expert, Rondeaux will work as part of the global Product Management team, responsible for setting the product strategy and managing the roadmap for Vela’s market data business. Rondeaux will drive Vela’s response to key client, market and regulatory trends impacting the industry as
Rishi Sunak, former partner at global long/short equity hedge fund Theleme Partners and Sir Chris Hohn’s The Children’s Investment Fund Management, has been named Chancellor of the Exchequer after Sajid Javid resigned on Thursday.
Hedge funds are continuing to bet against Europe’s travel industry, with several brand-name managers growing their shorts in travel staples such as EasyJet and TUI, amid concerns the fallout from the coronavirus (Covid-19) outbreak could impact the continent’s tourism sector.
The managed futures industry stepped into 2020 on a positive note with a 0.51 per cent return in January, according to the Barclay CTA Index compiled by BarclayHedge, a division of Backstop Solutions. It was the third consecutive profitable month for CTAs.“The coronavirus outbreak was a double-edged sword for traders in January, dragging oil prices down over concerns of reduced demand while boosting gold and Treasury bonds as investors sought defensive options,” says Sol Waksman, president of BarclayHedge. “Similarly, the cryptocurrency market benefited with bitcoin enjoying its best January since 2013.”
All but two CTA sectors were in positive territory
IHS Markit, a specialist in critical information, analytics and solutions, is to use Credit Benchmark’s credit risk analytics in its Securities Finance platform to offer additional performance measurement and reporting capabilities for global lending programs.“Consensus credit analytics brings new and much-needed transparency to the entire securities lending landscape across beneficial owners, agents and principal borrowers,” says Mark C Faulkner, co-founder of Credit Benchmark. “I am delighted to be returning to the securities finance space with this particular service targeted at helping industry participants ‘know your counterparts creditworthiness’ (KYCC).”
“Our collaboration with Credit Benchmark creates the industry’s first solution for managing
The hedge fund industry had a downbeat start to the new year losing 0.18 per cent in January, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was more or less break-even with a 0.04 per cent loss in January.
Mixed economic indicators worldwide joined with global events during the month to stunt returns for many hedge fund sectors, resulting in a reversal from December’s 1.73 per cent industry-wide return.
“January was a challenging month for investors, marked as it was by the impact of US-Iran tensions
CubeLogic, a provider of Business Intelligence enabled Enterprise Risk Management and Compliance solutions has secured two new client signings working in partnership with Numerix, a provider of leading-edge solutions for pricing, market risk, credit risk, XVA and FRTB. Within eight months of this new collaboration both CubeLogic and Numerix are delighted to announce that they have jointly secured two high profile deals. The first is with a well-known global liquidity provider and market maker and the second, a crypto currency bank. Together they are providing real-time VaR and Market Risk Management tools for the liquidity provider, whilst helping the Crypto bank
Investors’ bias towards momentum risk is making trend-following hedge fund strategies particularly sensitive to investor inflows, amid a recent spike in market volatility.
Lyxor Asset Management observed how future flows hinge predominantly on the cumulative performance of alternative strategies over a three-month period. On the flipside, investors tend to react to recent performance with a lag of three months.
As a result, flows into CTAs – which have enjoyed a strong positive start to 2020 – as well as long/short credit funds are the “most sensitive” to recent performance. Flows into global macro funds and event driven strategies tend to be
By Don Steinbrugge, Agecroft Partners – Hedge funds fees remain under extreme pressure across the industry. This strong trend is driven by declining return expectations from investors, increased competition across the industry, and an increasing share of industry assets controlled by large institutional investors.
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