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Forex technology specialist Integral has partnered with Moscow Exchange (MOEX) to provide MOEX customers with access to better liquidity, higher performance, and lower latency through its Open Currency Exchange (OCX).
MOEX will now provide liquidity to the Integral network.
“We’re thrilled to partner with MOEX,” says Harpal Sandhu, CEO of Integral. “They are the dominant exchange in the Russian FX market, and by using the Integral platform, they will be able to offer the best aggregation and deepest liquidity to their clients. MOEX will also become a price provider to the Integral network, thereby further enriching the liquidity in
Avelacom, a connectivity and IT infrastructure solutions provider for the financial services industry, has opened a new office in Singapore, managed by Gabriel Bassas, VP Sales for APAC.
In the past year Avelacom has seen double-digit growth in new business volumes coming from the APAC region, driven by clients demanding professional-grade connectivity services between APAC venues and exchanges, and to those in Europe and the USA. New business is expected to increase over the next few years, also driven by the growth of APAC crypto exchanges, which are starting to deploy high performance physical IT infrastructure demanded by trading institution
Plenitude, a niche consultancy, specialising in financial crime risk and compliance has appointed Steve Vinnicombe, former UK CEO of Capco UK, as a Non-Executive Director.
The announcement follows a sustained period of growth for Plenitude, charged by a number of high profile client engagements. Plenitude works with a wide array of financial institutions including banks, insurance companies and asset management firms, providing deep subject matter expertise, advisory and transformation services on some of the largest and most complex Financial Crime Compliance (FCC) initiatives in the industry. Plenitude’s track record includes working with 6 of the 14 global banks that are
After a buoyant beginning of the year, many active investors now seem to be waiting and holding on to their positions, according to the latest Weekly brief from Lyxor’s Cross Asset Research team. Very few positions have been added since the October sell-off.
Lyxor writes: “Holdings added in 2018 are very diversified over sectors. The tilt that managers used to have toward infotech and consumer discretionary has decreased.”
“The majority of their holdings are in Mid or smaller Caps (55 per cent) and managers have been seeking companies with better credit quality and sounder business pulse than in the
Cooper Creek Partners (Cooper Creek) has launched its North America Long Short Equity UCITS Fund on ML Capital’s MontLake UCITS Platform.
With day one assets in excess of USD110 million, it will be one of the largest Alternative UCITS Fund launches year-to-date. MontLake is an independent platform for UCITS funds that provides investors with access to a range of Irish-domiciled liquid, transparent and regulated investment funds.
The Cooper Creek Partners North America Long Short Equity UCITS Fund seeks to generate attractive absolute returns, non-correlated to equity market performance, by investing in a portfolio of high conviction ideas with a
Private equity firm GTCR is to acquire Ultimus Fund Solutions and The Gemini Companies in a strategic combination. The combined company, which will operate as Ultimus Fund Solutions, will be a leading provider of full service fund administration, accounting and investor solutions to traditional and alternative fund managers.
On behalf of their customers, the combined companies service approximately USD150 billion of assets under administration and over 840 total funds.
As part of this transaction, Ultimus President Gary Tenkman (pictured), will become the Chief Executive Officer of the combined business. Gemini CEO Kevin Hesselbirg will join the Board of the
GAMCO Investors is to take on the separate accounts of Loeb Partners Corporation, a firm with over USD400 million in assets under management for private wealth clients, endowments and foundations, with Peter Tcherepnine joining GAMCO as a Senior Vice President in December to manage the portfolios.
Tcherepnine was born and educated in France and the United States and became a US citizen in 1960. He has managed portfolios for individuals, companies, and trusts for over fifty years. After graduating from Harvard University with a BA degree and serving for two years as an officer in the US Army Artillery, he
On average, Alternative UCITS funds suffered during October’s market correction with almost every strategy index showing a negative performance, according to LuxHedge’s latest market overview.
The LuxHedge Global Alternative UCITS Index posted a loss of -1.67 per cent, bringing YTD down to -3.08 per cent, the worst drawdown since early 2016. Only one out of five index constituents has been able to post positive results since the beginning of 2018.
LuxHedge says: “Many Equity Hedge strategies suffered from a net positive beta in October with the LuxHedge Equity Long/Short UCITS index declining 2.90 per cent (-3.71 per cent YTD).
The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 1.29 per cent loss in October. Year to date, the Index is down 2.87 per cent.
“Although many traders were able to profit from the US dollar’s strength against most of the major currencies, the profits were offset by losses in the equity, interest rate, and commodity sectors,” says Sol Waksman, founder and president of BarclayHedge. “Seventy per cent of CTA funds posted losses in October.”
Six of Barclay’s Managed Futures indices lost ground in October, while three had gains.
Cryptocurrency Traders gave up 3.62
The sell-off in October was difficult to navigate for hedge funds, but there were substantial divergences across strategies, according to Lyxor’s latest Hedge Fund Brief.
Lyxor’s Philippe Ferreira (pictured), says: “L/S Equity and Event-Driven strategies underperformed due to their elevated market beta. L/S Equity strategies also suffered due to the rotation in risk factors which saw growth/ momentum stocks underperforming value and low beta stocks. Within Event-Driven, Special Situations strategies were especially hurt but Merger Arbitrage was resilient.”
“On a positive note, L/S Credit, Merger Arbitrage and Market Neutral L/S strategies were highly resilient thanks to their cautious positioning
