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ITG, an independent execution and research broker, has released the new ITG Dynamic Implementation Shortfall Algorithm 2.0 (ITG DIS 2.0), a tool for portfolio traders.
ITG DIS 2.0 builds on the original Dynamic Implementation Shortfall Algorithm, which was created to execute portfolio trades in a coordinated, cost-effective manner.
ITG DIS 2.0 offers enhanced optimisation capabilities that can handle even imbalanced and illiquid portfolio trades. ITG DIS 2.0 incorporates intraday patterns in cost and risk to formulate its trading strategy and dynamically updates its strategy as conditions change over the execution horizon.
“ITG Dynamic Implementation Shortfall Algorithm 2.0 gives
Los Angeles-based investment management firm Ivory Investment Management has appointed Craig Pollak as head of institutional marketing.
Pollak, who will be based in Ivory’s New York office, will be responsible for developing and maintaining relationships with institutional investors.
“We are pleased to welcome Craig back to the Ivory team,” says Curtis Macnguyen, Ivory’s founder and head portfolio manager. “Craig brings a wealth of knowledge to the firm as our Head of Institutional Marketing and we are fortunate to have him rejoin to broaden our capabilities and visibility with institutional investors especially pension funds, endowments and foundations. There is
The European Securities and Markets Authority (ESMA) has launched a consultation on draft regulatory technical standards (RTS) aimed at implementing the provisions of the European Markets Infrastructure Regulation (EMIR) related to OTC derivative transactions by non-European Union (EU) counterparties and aimed at preventing attempts by non-EU counterparties to evade EMIR’s provisions.
The consultation paper clarifies the conditions where EMIR’s provisions regarding central clearing or risk mitigation techniques would apply to OTC derivatives by two non-EU counterparties which have a direct, substantial and foreseeable effect in the EU.
The proposed RTS would only apply when two counterparties to the
Horizon Cash Management, an investment advisor specialising in active cash management solutions for the alternative investment industry, has hired Matthew Boice as vice president and credit analyst.
Boice works closely with the portfolio management team and chief investment officer and is responsible for portfolio credit research. In this capacity, he seeks to identify both opportunities and potential trouble spots in the fixed income marketplace before they become industry knowledge.
Michael Markowitz, president, Horizon Cash Management, says: “It is increasingly clear that volatility in the market is driven equally by economic, political and regulatory metrics that require careful monitoring
Peer-to-peer mortgage trading platform LendInvest has completed its first block trade of loans.
The block of five bridging loans were purchased by a hedge fund that is looking to gain exposure to the UK mortgage market.
LendInvest, which was formally launched only last month, has now completed a number of crowdfunded mortgage loan transactions. It is the first peer-to-peer mortgage platform in the UK that is live, and has a track record of completed transactions.
The total amount now funded through the LendInvest platform is almost GBP5m, which makes it the fastest growing crowdfunding platform in the market.
Traiana’s pre-trade clearing certainty initiative continues to gain momentum and has received the support of leading futures commissions merchants (FCMs) and trading venues.
Barclays, BofA Merrill Lynch, Citi, Goldman Sachs, JP Morgan and leading buyside institutions have put their support behind the central risk management infrastructure to be the first clearing firms to use Traiana’s CreditLink service to manage swap clearing limits, with deployments underway to meet regulatory deadlines.
The service is in live production operation and is connected to and supported by twelve potential swap execution facilities (SEFs) and designated contract markets (DCMs), including GFI Group, iSwap, Javelin,
Regulatory scrutiny by the Securities and Exchange Commission and the brutal dogfight for scarce alpha are pushing US hedge funds to implement a more rigorous and formalised trading process, according to a study from TABB Group.
The firm’s eighth annual benchmark study – US Hedge Fund Equity Trading 2013: Better Practices for the Age of Transparency – says that hedge funds are working with their sell side counterparts to bring additional cost-efficiency to an industry that is seeing revenues fall for the fourth straight year. The industry needs head traders to continually act as evangelisers for better practices.
Blackstone Alternative Asset Management (BAAM), Blackstone’s hedge fund solutions business, is to launch its first alternative investment-focused mutual fund that offers daily liquidity.
BAAM, which is the world’s largest discretionary allocator to hedge funds and has approximately USD49bn under management, is developing this custom solution for a strategic investor by leveraging its longstanding relationships with some of the industry’s leading hedge fund managers.
J Tomilson Hill (pictured), vice chairman of Blackstone and chief executive of BAAM, says: “We achieved our status as a premier hedge fund solutions provider by preserving capital in the midst of volatile markets and
Sunofia Capital Management, an asset management firm specialising in systematic strategies, plans to launch a market neutral strategy.
The strategy will initially invest in European and Japanese liquid equities and will subsequently add liquid North American and global stocks.
The strategy will be managed by Dr Moustapha Awada who has over 17 years of trading, portfolio and risk management experience. Awada has an investment record dating back to 2005 when he was managing director and global head of the multi-asset systematic trading group at Dresdner Bank. Sunofia’s quantitative models have been developed by Awada over many years and market
Tiger Bay Advisors, a provider of consulting and business process outsourcing (BPO) services to asset managers, has completed its acquisition of Gramercy Park Advisors, a boutique strategic advisory firm focused on the asset management industry.
The combination marks a new type of firm within the industry – one with the means to increase a business’ value by both improving operational efficiency and providing long-term strategic advice.
The combined firm will help clients align day-to-day operational goals with the longer-term goals of accelerating growth, increasing enterprise value and ultimately monetizing favourably. This is based on the belief that a
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