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Hedge Funds lost 0.31 per cent in June according to the Barclay Hedge Fund Index compiled by BarclayHedge, versus a 0.62 per cent increase in the S&P 500 Total Return Index. Year to date, the Barclay Index is up 0.69 per cent, while the S&P has gained 2.66 per cent.
“Although US equity prices rose in June, almost all of the MSCI regional indices lost ground, and most hedge fund strategies ended the month with losses as well,” says Sol Waksman (pictured), founder and president of BarclayHedge.
Twelve of Barclay’s 17 hedge fund indices had losses in June, while five had
AcadiaSoft, a provider of margin automation solutions for counterparties engaged in collateral management worldwide, has launched Agreement Manager, which will create an industry-wide, data store of legal and operational collateral agreement information for OTC Derivatives.
A new AcadiaSoft Hub service, Agreement Manager will match, store and exchange new and existing ISDA Variation Margin (VM) and Initial Margin (IM) details as well as the Account Control Agreements between trading parties and custodians. Agreement Manager will also standardise the legal agreement data shared between parties, in order to reduce integration points and ensure inter-operability of trading partners, custodians, document management providers and
iM Global Partner has acquired a minority interest in Boston-based, long-short equity manager Sirios Capital Management (Sirios).
The investment will enable Sirios to continue to support its current investment strategies and provide exceptional client service throughout the US and abroad.
iM Global Partner (previously branded iM Square) is a leading investment and development platform dedicated to global asset management. Its objective is growth investing in traditional and alternative entrepreneurial investment firms in the US, Europe and Asia, to whom it provides financial, distribution and operational support.
Sirios is an employee-owned investment firm with USD2.3 billion in AUM. It provides
Howard E Cotton and Michael S Gordon, both seasoned trial attorneys with decades of experience in high-stakes commercial litigation, have joined BakerHostetler as partners based in New York.
Cotton (pictured), and Gordon come to BakerHostetler to continue their more than 20 years of working together as a successful litigation team.
They arrive from Katten Muchin Rosenman LLP, where Cotton previously held many leadership positions, including serving as a national co-chair of commercial litigation and on the national executive committee, compensation committee and board of directors.
Cotton is a prominent first-chair litigator who combines consummate litigation strategy and courtroom
OTCX, a digital solution for OTC derivatives price discovery and negotiation, has created an integrated two-way connection to Orchestrade’s core portfolio management and risk systems, moving clients away from voice and chat, and cutting buy and sell side client costs by improving efficiency through digitisation and straight through processing (STP).
OTCX’s fast growing client base, including institutional asset managers, hedge funds, sovereign wealth funds and private banks, will benefit from a two-way certified interface that will deliver uninterrupted STP, and seamless communication and connectivity between two leading providers of innovation in financial systems.
Nicolas Koechlin, CEO at OTCX, says:
Alternative asset management group FM Capital Partners (FMCP), has secured a judgment against Frederic Marino, its former CEO, and former Julius Baer banker, Yoshiki Ohmura, in respect of multiple acts of fraud and corruption.
The High Court judgment marks the culmination of four years of FMCP and Hogan Lovells working to recover the stolen funds. It is now expected that FMCP will be able to recover approximately USD20-25 million as a result of the judgment.
The judgment found that, during the period 2009-2014, Mr Marino and Mr Ohmura’s fraudulent scheme dishonestly funnelled money away from FMCP and the Libya
Kinesis, the creator of bullion-based currencies traded on the blockchain, has formed a liquidity partnership with Finemetal Asia, a specialist distributor of physical precious metals.
Finemetal Asia will be providing liquidity for the soon to be launched Kinesis currencies, which are based on allocated physical gold (KAU) and silver (KAG) and traded on the Kinesis Blockchain Exchange (KBE).
Finemetal Asia, in cooperation with Argor Heraeus, is based in Hong Kong and covers multiple Asian physical bullion trading locations. Among its customers are some of the largest jewellery chains and gold dealers in the world.
The strategic partnership
Cinnober, an independent provider of exchange technology, and BitGo, a specialist in institutional-grade cryptocurrency security, are partnering to provide solutions to cryptocurrency exchanges.
BitGo’s wallet solution will expand Cinnober’s trading and post-trade platform to provide an end-to-end secure, institutional-grade digital asset exchange solution.
Cinnober serves leading financial marketplaces globally with robust, multi-asset trading and clearing solutions. Through Irisium, Cinnober also provides a market surveillance platform to help safeguard market integrity. Through the collaboration with BitGo, Cinnober is consolidating its offering to cryptocurrency exchanges in need of a reliable and proven, high-performance trading solution to handle increasing market volumes, expectations from
The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined Citigroup Global Markets Asia Limited (CGMAL) HKD4 million over regulatory breaches in relation to the operations of its alternative, or dark, liquidity pool.
The disciplinary action followed an SFC investigation on CGMAL, which found that the operations of Citi Match, the ALP of CGMAL, failed to comply with the relevant requirements from December 2015 to August 2016 as set out in the Code of Conduct.
CGMAL was expected to operate Citi Match with due skill, care and diligence, and required to: provide the ALP Guidelines to users
The partners of Bedell Cristin have announced a plan to merge with Cayman-based law firm, Solomon Harris. It is hoped that the deal will complete by the end of August, and Solomon Harris will rebrand as Bedell Cristin at a later date.
Founded in 1998, Solomon Harris is a full service law firm employing 28 people in Grand Cayman. It has been awarded recognition for its legal expertise across a broad range of services including as a premier firm for captive insurance and investment funds, capital markets, inward/local investment, private client services, corporate/residential real estate, immigration, litigation and insolvency &
