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By Don Steinbrugge, Agecroft Partners – The highly publicised trade war between the US and China has largely been scrutinised for its apparent, short-term impact on the US economy. The conversation has narrowly focused on falling GDP growth and specific sectors of the economy which have been disproportionally hit the hardest, especially the American farmer. These are certainly important issues that should be continually considered and addressed.
At the same time, it is imperative to analyse the trade war from a broader, long-term perspective. The chart below illustrates the trade relationship between the US and China each year since 2009.
The Securities and Exchange Commission has charged New York-based broker-dealer AOC Securities, and its former chief executive officer, Ronaldo Gonzalez, with failing to supervise an AOC broker who provided inflated price quotes for certain securities to a significant customer of AOC.
According to the SEC’s orders, Frank Dinucci Jr, a broker at AOC, provided inflated price quotes to a New York-based investment adviser, Premium Point Investments LP. The orders find that PPI traders dictated to Dinucci the prices at which he should value certain mortgage-backed securities in PPI funds’ portfolios. In return, the PPI traders promised to send securities trades
PrimeXBT, a Bitcoin-based margin trading platform offering up to 500x leverage across forex, stock indices, commodities, and cryptocurrencies, has launched a new lower fee structure that includes a reduction in overnight financing fees on all crypto trading pairs, as well as a 10x reduction in trading fees across all forex pairs.
“We are delighted to offer new reduced fees to PrimeXBT platform users. We believe that traders should focus on trading opportunities rather than on costs. Oftentimes, amazing profit opportunities are being missed only due to unreasonably high fees. And we don’t want that – we are here to provide
The Eurekahedge Hedge Fund Index was up 0.62 per cent in July, bringing its year-to-date return to 6.48 per cent. Roughly 30.8 per cent of hedge fund managers in the index have recorded double-digit gains over the first seven months of the year.
The global hedge fund industry AUM remained mostly flat as of July 2019 year-to-date. Final Q2 2019 net outflows figure stood at USD40.0 billion, as investor redemptions continued to slow down. Hedge fund managers recorded USD46.4 billion and USD94.7 billion of net outflows in Q1 2019 and Q4 2018 respectively.
The Eurekahedge North American Hedge Fund Index
Ultimus Fund Solutions (Ultimus), an independent provider of fund administration, accounting and investor solutions to traditional and alternative fund managers, is to acquire LeverPoint Management (LeverPoint).
LeverPoint, headquartered in Clifton Park, NY, is an independent provider of full-service fund administration, accounting, tax and back office support services to private equity, venture capital and real estate managers. Going forward, Ultimus’ private fund business will operate as Ultimus LeverPoint Private Fund Solutions and will provide administration for approximately USD90 billion of private fund assets across 230 clients. In total, Ultimus will service over USD220 billion of assets under administration and over 1,250 total traditional
The SS&C GlobeOp Forward Redemption Indicator for August 2019 measured 3.41 per cent, up from 2.69 per cent in July.
“SS&C GlobeOp’s Forward Redemption Indicator of 3.41 per cent for August 2019, though up from the 2.73 per cent reported a year ago for August 2018, closely matched the 5-year historical average for the calendar month and was well below longer-term averages,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “Together with other recent data points, this indicates hedge fund asset retention remains stable, despite swings in equity markets, sharp changes in interest rates, and uncertainty in world
The Braddock Multi-Strategy Income Fund has crossed the USD500 million benchmark in assets under management and received a five-star overall Morningstar Rating from among 297 funds in the Multisector Bond Fund Category as of 31 July, 2019 based on its risk-adjusted returns.
Liberty Street Advisors is the investment advisor to the Fund. Braddock Financial is the Fund’s sub-advisor.
In addition, Braddock has hired Kenneth Cramer as Braddock’s new Senior Investment Analyst. Cramer has seven years of investment and financial markets experience. Prior to joining Braddock, he was a Senior Associate at Pacific Investment Management Company (PIMCO) in the Product Strategy group. There
Eze Castle Integration (ECI), a global managed service provider to the financial sector, has expanded its London team with the addition of Jamie Smith as Director of International Technology and Lee Robertson as Commercial Director.
Smith and Robertson bring a wealth of experience and expertise to ECI. Smith has over 15 years of IT experience specific to the hedge fund and alternative investment sector. Robertson brings over 20 years of knowledge in technology, including connectivity, communications and regulatory compliance surrounding these products.
“Eze Castle Integration is at an exciting time in its growth as we expand our cloud and cyber
BMLL Technologies, a cloud-based Capital Markets Data-Engineering-as-a-Service company, has launched a new Derived Data Service which enables market participants to consume bespoke metrics derived from the most granular message-by-message exchange data directly into their trading systems both at speed and at scale.
Level 3 (L3) data displays all the individual messages in the limit order book (LOB) and provides traders and researchers with unparalleled visibility into the workings of the market. These datasets are large and complex, so most firms don’t have the computing infrastructure to derive meaningful analytics from them. The technical challenges they face include too much noise in
The Maples Group has relocated its law firm, Maples and Calder (Jersey) LLP and its fiduciary and corporate services teams, Maples Fiduciary Services (Jersey) Limited, to a new office location at Sir Walter Raleigh House in St Helier.
The new five storey offices at Sir Walter Raleigh are bright and modern and occupy a prominent landmark position at the western end of the Esplanade, the prime office address in St Helier, overlooking the Esplanade and waterfront beyond. Jersey International Finance Centre is located a short walk away and neighbouring offices include a wide range of financial and professional services firms.
