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Volumes in June jumped dramatically in the 10 most liquid names, according to broker Abel/Noser’s June liquidity analysis.
The top 10 names, in terms of average dollars traded per day, were almost identical for both months.
The only change being in May, SPD Gold (GLD) was the eighth most active issue trading USD1.6bn a day. GLD dropped to 11th place in June and was replaced by Pfizer (PFE) which traded USD2.3bn as the sixth most liquid name.
“The most interesting part of the study notes that the sum of the 10 most liquid names in June
Hedge fund advisory boutique Atrato Advisors has appointed Abigail Corcoran as managing director, head of business development.
Most recently, Corcoran was vice president of client development at Sandalwood Securities, the New Jersey-based multi-manager shop.
Previously, she was a relationship manager within Credit Suisse Private Bank.
Prior to joining Credit Suisse, Corcoran spent three years at advertising agency Ogilvy & Mather, developing brand strategy for the firm’s financial services clients.
"We are beyond thrilled to have Abby come aboard," says Atrato’s president Brian Reich. "Her leadership and knowledge of the family office and institutional investor community were
MarketAxess Holdings has filed an application on to become a swap execution facility (SEF) under the Commodity Futures Trading Commission’s (CFTC) Dodd-Frank Act.
MarketAxess specialises in electronic trading of credit instruments and was the first platform to offer electronic trading of credit default swaps (CDS) in 2005.
Over the past three years, since passage of the Dodd-Frank Act, MarketAxess has expanded its functionality to offer a comprehensive range of trading protocols including request for quote/market (RFQ/RFM), click-to-trade (CTT) and a central limit order book for CDS trading. The platform currently offers electronic trading solutions in CDS Indices, CDS Index
After 12 consecutive months of gains hedge funds lost 1.35 per cent in June, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
The index remains up 4.26 per cent year to date.
“A comment by Fed chairman Ben Bernanke that the Fed may begin to taper its asset purchases caused interest rates to skyrocket while prices for equities, commodities, and emerging market currencies plummeted,” says Sol Waksman, founder and president of BarclayHedge.
Overall, 14 of Barclay’s 18 hedge fund strategies lost ground in June. The Barclay Emerging Markets Index dropped 3.97 per cent, Distressed Securities
Bernheim, Dreyfus & Co has launched Carmel Global Opportunities, a global macro UCITS IV compliant fund, which invests in multiple asset classes across the OECD universe.
Carmel Global Opportunities is managed by Bernheim, Dreyfus & Co’s team gathering over 70 years of experience in asset management and other complementary fields in finance such as M&A advisory, trading and risk management.
The fund aims to deliver steady long-term capital appreciation through diversification of investment style, alpha source and time horizon.
The fund deploys capital in an actively managed core fixed income allocation and a more dynamic pocket increasing the
Jersey Finance has welcomed the announcement from the Jersey Financial Services Commission (JFSC) that 25 bilateral agreements have been signed in respect of the Alternative Investment Fund Managers Directive (AIFMD), another key step in meeting the requirements of the Directive.
Jersey’s strategy, which is to offer flexibility within its funds regime to allow continued access to European markets, while also providing options for the rest of the world, remains on track. It is the intention of the Jersey funds industry to satisfy the criteria to comply with the AIFMD and remain attractive both for ongoing “business as usual” activity
UK-based Liquidity Finance is expanding its activities across the Atlantic with a new office opening in Stamford, Connecticut in the US.
Headed by ex-Knight Capital Group and UBS AG Dan Mullineaux (pictured), working alongside ex-head of EM trading at Goldman Sachs Robert McDonald, the expansion of Liquidity Finance to the US mirrors developments in the market, as clients are moving increasingly towards alternative sources of liquidity.
With its unique electronic order matching platform, developed in-house, Liquidity Finance has received good traction and market shares in Europe, and will now be expanding its focus to the US and Latin American client base.
Liquidity co-founder Faisal Mian says: “The US
BNP Paribas Securities Services has completed the final stage of the migration of a large number of Henderson funds on to its platform.
In total, this complex project has required the migration of 25 legacy Gartmore funds with an approximate value of EUR8bn in three stages and incorporating multiple jurisdictions and fund types.
BNP Paribas was awarded this business on the basis of its strong client relationship and high quality services, which it has provided to Henderson since 2002. Having now completed the final stage of the migration, BNP Paribas will provide Henderson Global Investors (HGI) with
GreySpark Partners, a London-based capital markets consultancy, has published a new report exploring changes to the market structure for foreign exchange trading.
Trends in FX Trading 2013 examines how e-commerce trends, macroeconomic forces and new capital markets regulations in the EU and US are challenging the investment bank-dominated FX market. These forces are giving buyside customers more choice and control than they have ever had before in their FX trading activities.
Since 2010, the proliferation of so-called dealer-to-client (D2C) multi-dealer platforms (MDPs) has meant that the buyside has enjoyed more choice in where they trade FX than ever
Impax Asset Management and Old Mutual Global Investors (OMG Investors) have marked the third anniversary of the Old Mutual Ethical Fund as a single manager fund.
The fund was originally launched in September 2005 as a multi-manager fund, with Impax subsequently appointed as the sole manager of the mandate in July 2010.
The fund follows a global all cap strategy and enables investors to participate in the superior growth demonstrated by global resource optimisation and environmental markets, with a rigorous ethical overlay. It targets both long-term capital growth and income through investment in stocks of companies that are
