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The gross return of the SS&C GlobeOp Hedge Fund Performance Index for October 2012 measured 0.13 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.54 per cent in November.
“Overall capital activity remains consistent with previous years as hedge funds enter the last quarter with positive capital flow,” says Bill Stone, chairman and chief executive officer, SS&C Technologies.
The SS&C GlobeOp Hedge Fund Performance Index is an asset-weighted, independent monthly window on hedge fund performance. On the ninth business day of each month it provides a flash estimate of the gross aggregate
The London Metal Exchange (LME) has appointed Adrian Farnham as the chief operating officer for LME Clear.
Farnham (pictured) joined Turquoise Global in 2007 as chief operating officer and became chief executive officer in 2010. He was instrumental in the market launch of Turquoise, working with Cinnober Technology on the initial implementation of the platform. In 2011 he led the platform expansion into derivatives.
Prior to Turquoise, Farnham worked as an executive director of operations at Morgan Stanley for 13 years.
"Adrian is a fantastic addition to the executive team at LME Clear," says Trevor Spanner, managing director of post-trade
Eze Castle Integration, a provider of IT solutions and private cloud services to hedge funds, has expanded its Eze Private Cloud services to Hong Kong and Singapore.
The Eze Private Cloud is used by more than 2,000 hedge fund professionals worldwide to simplify operations, minimise upfront capital costs and gain a highly resilient, enterprise-grade IT infrastructure on par with billion-dollar funds.
Hedge funds based in Hong Kong and Singapore now have access to a range of offerings from the Eze Private Cloud, including the Eze Managed Suite and application hosting.
The Eze Managed Suite is a hosted IT solution providing
eVestment, a provider of institutional investment data and cloud-based analytic solutions, has acquired PerTrac, a provider of hedge fund analysis software and workflow solutions, and Fundspire, a cloud-based technology provider of hedge fund analytics.
Terms of the deals have not been disclosed.
With the acquisitions, eVestment now serves over 2,500 clients across the entire investment industry spectrum, including traditional and alternative money managers, consultants and financial advisers, funds of hedge funds, corporate and public pensions, endowments and foundations, sovereign wealth funds, banks and brokerages.
“We are very pleased to welcome PerTrac and Fundspire into the eVestment family and very excited
Andrew Beckman has joined Magnetar Capital to lead a new event credit team, working within Magnetar’s global event driven strategies business.
Beckman, who will be based in New York, will report directly to Alec Litowitz, Magnetar chief executive, founder and head of global event driven strategies.
“The addition of this new credit team to Magnetar’s event driven business rounds out our ability to deploy capital across all stages of the corporate lifecycle,” says Litowitz. “Andrew Beckman’s proven track record in this space and his ability to collaborate with teams across platforms make him an ideal leader for our event credit
The Financial Industry Regulatory Authority (FINRA) has increased transparency in the so-called “To-Be-Announced” (TBA) market for agency pass-through mortgage-backed securities.
This market represents more than USD270bn traded on an average daily basis in 8,400 trades.
Through the Trade Reporting and Compliance Engine (TRACE), FINRA has begun disseminating TBA transaction information, including the CUSIP, time of transaction, price, size and other related information.
In addition to the TBA market, the SEC has approved a FINRA proposal to publicly disseminate transaction information in agency pass-through mortgage-backed securities traded “specified.” This market represents approximately USD19bn traded on an average daily basis in 3,000
US Bancorp Fund Services, a subsidiary of US Bancorp (NYSE:USB), has agreed to acquire AIS Fund Administration (AIS), a provider of fund administration and related services to alternative investment managers.
The transaction adds approximately USD25 billion in hedge fund assets under administration to US Bancorp Fund Services’ existing alternative investments business, along with 176 employees in New Jersey, the United Kingdom and the Cayman Islands. With this transaction, USBFS will service USD50 billion in alternative investment assets and create a best-of-breed middle-office and back-office services platform to provide a wide range of support services to fund managers and investors
Linedata, a solutions provider dedicated to the investment management and credit industries, has launched a new version of Linedata Mshare investor accounting and administration solution.
This latest upgrade addresses forthcoming regulations and industry standards offering full compliance with FATCA. It also offers new SWIFT messaging capabilities in anticipation of a wider rollout of the new set of hedge fund SWIFT message formats.
Regulation has become a key issue and a growing overhead for administrators and their clients worldwide. Linedata Mshare now enables early compliance with FATCA, an upcoming major regulatory requirement, by ensuring that data are collected and flagged
The industry decision to close the US markets for two trading days due to Hurricane Sandy resulted in a nine per cent decrease in the number of trading days in October 2012 for NYSE Euronext’s US cash equity and equity options markets.
The closure of these markets also impacted trading on NYSE Euronext’s European derivatives and European cash trading venues, which remained open.
European derivatives and European cash average daily trading volumes declined 44 per cent and 41 per cent, respectively, during the closure of the US markets with some residual impact after the markets reopened. October 2011 trading volumes
Leucadia National Corporation (NYSE: LUK) and Jefferies Group have approved a definitive merger agreement under which Jefferies’ shareholders (other than Leucadia, which currently owns approximately 28.6% of the Jefferies outstanding shares) will receive 0.81 of a share of Leucadia common stock for each share of Jefferies common stock they hold.
This exchange is intended to be tax-free to Jefferies’ shareholders.
The merger, which is expected to close during the first quarter of 2013, is subject to customary closing conditions, including approval to effect the merger by both Leucadia and Jefferies shareholders.
In order to avert the possibility that the transaction
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