Latest News
Markets were on standby mode ahead of the Fed’s meeting last week. Hedge funds were flat and there was little dispersion in returns across the managers (see chart). Event-Driven outperformed as equity volatility edged lower. Meanwhile, Fixed Income strategies underperformed as sovereign bond yields moved higher.
- 21/09/2015
Hotspot, a leading institutional foreign exchange (FX) market owned and operated by BATS Global Markets (BATS), launched its new London-area matching engine on 14 September, with USD1.2 billion traded (single-count) in the first full week of operation.
The new venue will target Europe and Asia and specific FX currency pairs that dominate the European and Asian trading hours. To incentivise customers, all trading for all transactions that take place on the London matching engine will be free until the end of the year.
Chris Concannon, BATS CEO, says: “Exactly six months after acquiring Hotspot, we have demonstrated our commitment to
- 21/09/2015
BCS Financial Group, a securities broker on the Moscow Exchange, has been granted access to Euroclear, the international central securities depository, through BCS Prime Brokerage Limited.
By using Euroclear, BCS Financial Group will broaden its product offering, enhance its operational efficiency, reduce risks and optimise the costs of trading, settlement and custody services.
BCS anticipates using Euroclear’s services in the European, UK (LSE IOB), US and Russian markets (local equities and government bonds).
Michael Barmettler, COO of Global Markets and Investment Banking at BCS Financial Group, says: “This is another significant milestone for BCS, proving the stability and
- 21/09/2015
This year’s KPMG hedge fund report was done in partnership with Hedge Fund Research and focused on the role of women in the industry.
The ‘Women in Alternative Investments Report (WAI Report or Report)’ shows, that the alternatives industry is in a state of transformation. The authors write: “Fund managers have become more focused than ever on improving operational effectiveness, transparency, and alignment of interests. With the overwhelming majority of industry professionals expecting increased competition for capital and the growing influence of institutional investors, many funds plan to introduce new strategies, more customised products, and changes in fee structures. The
- 21/09/2015
Dixon Boardman, a veteran hedge fund of fund manager, is a survivor. Having founded, Optima Fund Management in 1988, his firm now manages USD4 billion. Boardman – and Optima – have stood firm through a sustained period of challenges for the fund of funds business.
“2008 did shake up a lot of people. And on top of that, there was Madoff. We avoided that fiasco, but it did force quite a few people out of the industry,” Boardman (pictured) says. “We’ve been guided by two bedrock principles of avoiding unnecessary risk and investing with the best and brightest hedge fund managers in the business.
- 21/09/2015
OppenheimerFunds has announced a strategic partnership, whereby Apollo Credit Management, an affiliate of Apollo Global Management, will serve as sub-sub-advisor to the Oppenheimer Global Strategic Income Fund (GSIF).
"As a progressive money manager, OppenheimerFunds consistently strives to add value for our clients. Apollo Credit Management offers a wide range of alternative investment credit strategies that complement our strong in-house fixed income capabilities, which will help us continue to deliver a very compelling offering," says Art Steinmetz (pictured), Chairman, CEO and President of OppenheimerFunds. "Continuing the fund's history of innovation, we wanted a quality partner in terms of performance, investment team
- 21/09/2015
The US Commodity Futures Trading Commission’s (Commission) Division of Market Oversight and Division of Clearing and Risk has issued a letter providing the divisions’ view that the use of a “firm or forced trades” process by a derivatives clearing organisation (DCO) to determine the price of certain swaps for which public market prices are not available will not by itself require a DCO to register as a swap execution facility.
The interpretation also states that a swap generated as a result of such a process would not be subject to the clearing and trade execution requirements of the Commodity Exchange
- 21/09/2015
While CFTC Commissioners and staff have in the past asserted that the CFTC has jurisdiction over bitcoin derivatives in speeches and testimony, for the first time the Commission has issued a definitive finding that bitcoin derivative exchanges must register as a SEF or designated contract market.
The CFTC will now uphold the laws and regulations of the Commodity Exchange Act for all derivative bitcoin trading venues
“This begins a new chapter in the evolution of the bitcoin market,” says Palu L Choue, CEO LedgerX. “This demonstrates that bitcoin is a new commodity subject to CFTC jurisdiction and that
- 21/09/2015
Fund governance firm DMS Offshore Investment Services (DMS) has been recognised as "Best Offshore Regulatory Advisory Firm" in the 2015 Hedgeweek USA Awards.
DMS was also honoured with this award in 2014, and with Hedgeweek's Global Award for the quality of its regulatory advisory services in 2014 and 2015.
Operating in seven jurisdictions, DMS is known for its pioneering role in institutional fund governance services and for the uncompromising performance of its directors who serve on the boards of hedge funds and a variety of related structures.
"DMS has a successful tradition of supporting the fund industry through
- 21/09/2015
The Right Honourable William Hague (pictured) has joined the Boards of Intercontinental Exchange and ICE Futures Europe. Hague will assume the role of Chairman of ICE Futures Europe in January 2016, succeeding Sir Bob Reid who is retiring from that role after 16 years of service. Sir Bob Reid continues as the Chairman of ICE Clear Europe through 2015.
Hague served as a Member of the UK Parliament from 1989 to 2015. He entered the UK Cabinet in 1995 and led the Conservative Party from 1997 to 2001. From 2010 to 2014 he served as First Secretary of State and
- 18/09/2015
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