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Hedge funds have finally enjoyed a sustained period of good performance over the past 12 months, going some way to assuage investor concerns. The HFRI North America Index is up 5.54 per cent YTD, and up 8.68 per cent over a one-year period; slightly higher than the HFRI Fund Weighted Composite Index (7.16 per cent).
With equity markets continuing their bull run, it is proving to be a blessing for equity-focused hedge fund managers. On 12 October, the FTSE 100 index reached a record-high, closing at 7,556.24, largely in response to Brexit negotiations pushing the price of sterling lower. Since July
By Chris Tiscornia (pictured), CEO, Cowen’s Westminster Research Associates – MiFID II 1 is right around the corner and many asset managers are still scrambling to implement processes that will be compliant with its research unbundling requirements.
As the buy-side and sell-side explicitly negotiate the price of research, many of the largest asset managers have publicly announced that they plan to fund external research from their own resources for their MiFID II entities. While some of these managers are analysing whether to extend this practice to other jurisdictions, the majority of their assets will continue to be funded alongside trading
The European Energy Exchange (EEX) has achieved a new daily record in Phelix-DE Futures trading a total of 4.7 TWh, surpassing the previous record high of 3.0 TWh by more than 50 per cent.
In another key development, the Phelix-DE Futures is also gaining importance in short-term maturities before the planned split of the German-Austrian price zone in October 2018. Historically, a large share of German trading volumes for maturities beyond 2018 is already traded in Phelix-DE Futures on a regular basis. However, yesterday’s trading volumes in Phelix-DE day and weekend contracts also exceeded the volumes in Phelix-DE/AT day and
Michelle Moran has joined the London office of global law firm K&L Gates as a partner in the investment management, hedge funds, and alternative investments practice. She joins from Ropes & Gray.
Moran advises European and UK clients on the establishment, authorisation, and management of retail and institutional investment funds in the UK, Ireland, Luxembourg, and Jersey. These include UCITS, hedge funds, private funds, investment trusts, real estate funds, and segregated institutional portfolios. She has worked on a wide variety of transactions involving investment managers, brokers, custodians, fund service providers, and operating platforms. Moran’s extensive regulatory experience includes having participated on
SANNE continues to drive forward its global change agenda with the appointment of a Global Director of Change Management.
Over-the-counter (OTC) market information specialist ICAP Information is to provide Limina Financial Systems with interest rate derivatives and money markets data generated from ICAP’s deep liquidity pool.
Access to high quality pre-constructed interest rate curves and data enhances the risk management capabilities of Limina’s Captron fund management platform.
Based in Stockholm, Limina provides hedge funds with a complete, automated front-to-mid-office system, incorporating order management, portfolio management and risk management workflows in a single solution. The availability of ICAP Information’s data within Captron will heighten the accuracy of risk management, accelerate risk modelling and sharply reduce maintenance costs for Limina’s
New York Attorney General Eric T Schneiderman has announced a USD220 million, 45-state settlement with Deutsche Bank for fraudulent conduct involving the manipulation of US Dollar (USD) LIBOR (the London Interbank Offered Rate) and other benchmark interest rates.
Benchmark interest rates affect financial instruments worth trillions of dollars and have a widespread impact on global markets and consumers because LIBOR may determine how much they will be paid on their investments. New York and California led the working group of State Attorneys General investigating Deutsche Bank.
“We will not tolerate fraudulent, manipulative or collusive conduct that interferes with or undermines
By George Ralph, RFA – Risk is part of everyday life for firms in the private equity sector and goes way beyond volatile markets and unpredictable cash flows. Firms must deal with the risks associated with the use of technology, in both the private equity firm and its portfolio companies.
If the infrastructure or systems fail to meet expectations, if they cost more to operate, are unreliable and do not work well, they bring uncertainties and pose significant technology risk. There is also risk associated with the use of third party suppliers, as many firms routinely engage third parties to
QuantHouse, the independent global leader of end-to-end high performance market data and trading API based technologies, today announced that Horizon Software, a provider of electronic trading solutions and algorithmic technology, has joined the qh API Ecosystem.
This collaboration will enable buy-side and sell-side firms to benefit from high-capacity and ultra-low latency trading systems to complement or replace existing legacy trading infrastructures. Horizon provides tools for creating, testing and implementing automated algorithmic strategies, while the proprietary fibre optic network from QuantHouse offers a proximity hosting infrastructure and end-to-end, ultra-low latency market data feed via QuantFEED.
Users can benefit from the
Intercontinental Exchange (ICE) has acquired a 4.7 per cent stake in Euroclear, a provider of post-trade services, including settlement, central securities depositories and related services for cross-border transactions across asset classes, for EUR 275 million.
ICE anticipates having one representative join the Board of Euroclear.
“We are thrilled to become a shareholder of Euroclear,” says ICE Chairman and CEO Jeffrey C Sprecher (pictured). “Euroclear’s infrastructure plays an increasingly important role as technology, collateral, risk management and regulation continue to drive an emphasis on post-trade services. This transaction demonstrates our continued focus on expanding our investments in mission critical clearing
