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LRI Group, an independent investment services company, has partnered with M17 Capital Management, a Swiss based investment company, to launch its European Market Neutral UCITS Fund.
Following several pension funds and institutions as anchor investors, the fund is aimed at institutional investors, pension funds, family offices and high-net worth individuals (HNWI) predominantly in Germany, Switzerland, UK and Scandinavia. To date, the fund has obtained investor commitments of close to EUR191 million.
The fund invests with a fundamental approach in a market neutral concentrated portfolio of 30-60 positions with a European bias and targets a return of 10-15 per cent
Cboe Global Markets has reported a record week of trading activity with several single-day records across the company’s exchanges and products set between 2 February 8 February.
Trading of options on the Cboe Volatility Index (VIX) at Cboe Options Exchange set three single-day volume records within the week, with a new all-time high of 4.34 million contracts on Friday, 2 February, 2018, followed by 4.19 million contracts on 6 February and 3.55 million contracts on 5 February . These records surpass the previous single-day record of 3.1 million contracts on 1 December, 2017.
Trading of VIX futures at Cboe
Total Singapore Exchange securities market value was at SGD29.4 billion in January, up 53 per cent month-on-month (m-o-m) and up 40 per cent year-on-year (y-o-y), over 22 trading days. There were 20 trading days in December 2017 and 20 in January 2017.
Securities daily average value (SDAV) was SGD1.3 billion, up 39 per cent m-o-m and up 28 per cent y-o-y.
Market turnover value of Exchange Traded Funds (ETFs) meanwhile, was SGD253 million, up 27 per cent m-o-m and down 13 per cent y-o-y, while market turnover value of structured warrants and Daily Leveraged Certificates (DLCs) was SGD1.4 billion,
UMB Bank, a subsidiary of UMB Financial Corporation, has promoted two UMB Fund Services (UMBFS) executives – Tony Fischer and Maureen Quill (pictured).
Fischer has been promoted to national sales director for UMB Fund Services, Investor Solutions, Corporate Trust and Custody at UMB. His responsibilities include business development and strategy, as well as providing leadership to the sales team to ensure collaboration. Fischer has more than 30 years of experience in the fund industry. Previously, he was president of UMBFS.
Quill has been promoted to president of UMBFS. She was most recently chief operating officer. Her responsibilities include overall
NextWave Ventures, a venture-capital firm specialising in the commercialisation of early-stage technologies, today formed Apical Technology, a portfolio of artificial intelligence (AI) technologies.
Advanced by Ron St Onge and Jim St Onge, Apical is the result of nearly 20 years of research in optimising AI-based solutions to non-linear systems. With significant real-world predictive results in market behaviour, NextWave Ventures identified an initial opportunity to use the Apical AI-based software platform for equities trading. Apical’s strategies utilise AI and machine learning to generate superior risk-adjusted returns that are non-correlated to both major asset classes and other hedge fund strategies.
“Apical
Luminex Trading & Analytics, a buy side-owned trading venue delivering block executions, has added a conditional order type to its unique, buy side-only alternative trading system (ATS). This upgrade has helped make January 2018 Luminex’s best-ever month by volume.
Luminex’s trading platform now supports negotiable, firm and conditional orders. The addition of conditional orders is designed to make trading on Luminex more efficient for many buy side workflows, and should allow subscribers to interact with more block orders. Negotiable and firm orders continue to be available and will help to prevent “fall downs”, negotiations in which one party backs out
RMB Asset Management, in partnership with Mendon Capital, has launched a new global long/short financial strategy.
The new strategy requires a minimum investment of USD250,000 and is an extension of Mendon’s current US financial strategy, which is also offered in two mutual fund vehicles. Anton Schutz and Russell Echlov will serve as co-portfolio managers on the new global long/short strategy.
“The timing of this launch is deliberate. The rest of the world has been much slower to recover from the financial crisis than the US, but we’re now seeing a synchronised uptick in global growth,” says Richard M Burridge,
CUSIP Global Services (CGS) has launched an enhanced version of its popular New Issue Alert Service, CUSIP Pulse, which now provides automated, near real-time updates on any changes to the CUSIP database.
Designed to improve reference data transparency by providing market participants with timely updates on any changes made to the CUSIP database, the new CUSIP Pulse service automatically alerts subscribers when new securities are added, or when a change – such as a corporate action, issue suspension, or maturity date update – is made to an existing record. These updates are provided every 15 minutes, giving market participants near
FactSet, a provider of integrated financial information analytical applications, has formed a strategic relationship with CG Blockchain, a developer of blockchain technology for the investment industry.
FactSet clients will now have access to CG Blockchain products through its BCT Fundstore. CG Blockchain’s current and future clients will also use FactSet’s industry-leading Portware execution and order management capabilities, delivered as FactSet OEMS, for trade execution, analysis, order generation, and compliance efforts.
FactSet OEMS is a configurable, “thinking” order and execution management system designed to act as the central platform for the creation and execution of trading strategies across asset classes.
Liquidnet, a global institutional trading network, and Abel Noser Solutions have launched the pilot of Portfolio Manager Profiling.
The model, when incorporated into Liquidnet’s Virtual High Touch Next Gen algo suite, links historical trade and TCA data with the portfolio manager’s decisions to create a distinct profile for each participating portfolio manager. These profiles are then factored into determining a suggested algo trading strategy via Liquidnet’s Algo Ranking Model (ARM).
“A portfolio manager’s tendencies have always influenced a trader’s execution strategy but being able to consistently replicate a profile pattern used to be a challenge,” says Peter Weiler (pictured),
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