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Chi-X Canada ATS, a wholly owned subsidiary of alternative trading venue operator Chi-X Global, is launching a second lit marketplace, CX2 ATS, in the first quarter of 2013.
“Canada’s equity landscape will soon change dramatically. With CX2, we hope to satisfy the trading community’s demand for healthy competition and help ensure that Canada remains at the forefront of innovation both domestically and globally,” says Dan Kessous, chief executive of Chi-X Canada.
“Since our launch we have been committed to providing greater transparency and the means to reduce execution costs. CX2 aims to target under-serviced areas of the market such as
SS&C Technologies, a provider of financial services software and software-enabled services, has launched its new corporate brand, including a new logo and corporate slogan.
The company’s new tagline is: "Don’t Wonder. Know. Anything. Anytime. Anywhere".
“The new SS&C brand underlines that we are moving forward as a company and as a software and services provider,” says Bill Stone (pictured), chairman and chief executive officer, SS&C Technologies. "Delighting our customers is a strategic imperative for SS&C. Our customers value our focus and commitment. The combination of SS&C, GlobeOp and Portia provides innovative solutions today, tomorrow and into the future. Our
The Commodity Futures Trading Commission has approved a proposed order that would exempt certain non-financial energy derivative transactions between and amongst government-owned electric utilities and cooperatively-owned electric utilities from most of the requirements of the Commodity Exchange Act.
The entities eligible for the proposed relief are not-for-profit electric utilities charged with a public service mission of providing their customers with reliable, affordable electric energy.
The Dodd-Frank Wall Street Reform and Consumer Protection Act directed the Commission to provide such an exemption for certain transactions between certain electric utilities if it is in the public interest. The Commission voted five to
Jim Xiong has rejoined QFS Asset Management as co-chief investment officer.
Xiong and Jim Conklin, QFS’s other co-CIO and director of research, will collaborate with the firm’s founder, Sanford Grossman, in pursuing new research and managing the existing investment programs. Xiong will also join the QFS Investment Committee.
Xiong was an employee and partner of QFS for almost 14 years until he left in mid-2011 to take a sabbatical from the industry.
Prior to joining QFS in 1997, Xiong developed financial applications for Salomon Brothers and was a management scientist at General Electric’s Center for Research and Development. Prior to
All market segments were up in July, extending a positive trend started last month and hedge fund strategies exposed to the equity risk factor logically benefited from the market environment.
But according to Edhec Risk’s Alternative Indexes, they captured less than half of its return due to rather low dynamic exposure: equity market neutral (0.35 per cent), event driven (0.59 per cent) and long/short equity (0.43 per cent).
The latter category, although more directional in nature, seems to have been negatively impacted by a bias towards small-caps, which underperformed by 2.16 per cent.
Convertible arbitrage returned 0.90 per cent, exhibiting
The board of directors of the National Futures Association (NFA) has approved amendments to NFA financial requirements that will require each futures commission merchant to provide its Designated Self-Regulatory Organization (DSRO) with view-only access via the internet to account information for each of the FCM’s customer segregated funds account(s) maintained and held at a bank or trust company.
The same requirement would apply to the FCM’s customer secured account(s) held for customers trading on foreign futures exchanges.
In addition, the rule states that if a bank or trust company is unable to allow the FCM to provide its DSRO with
Interdealer broker ICAP is reorganising to create a single, global broking division to reflect the changing nature of its business and serve customers more effectively.
Until now ICAP has operated its broking business on a regional basis in the Americas, EMEA and Asia Pacific.
The reorganisation mirrors the way ICAP’s electronic and post trade divisions are already run on a global basis and will enable the group to execute a global strategy for voice and hybrid broking services.
The division will also be renamed "Global Broking" from "Voice" as it better describes ICAP’s broking interface to markets and the significant
InfraHedge, a managed account infrastructure platform and a subsidiary of State Street, has been selected by Milltrust International Group to launch its Emerging Markets Managed Accounts (EMM
Global law firm K&L Gates and Australian national law firm Middletons are in discussions regarding a possible combination.
If approved, the combination would create a firm of more than 2,000 lawyers in 45 offices throughout Australia, North and South America, Europe, Asia, and the Middle East.
In addition to expanding the combined firm’s global platform to a fifth continent and fortifying its position in the Asia Pacific region, the combination would allow the firm to capitalise on shared practice strengths in areas such as corporate, energy and resources, banking and financial services, labour law and industrial relations, litigation and dispute
Replication strategies have gained in popularity as investors increasingly are looking to capture the benefits of hedge fund investing while avoiding their associated high fees, opacity of process and holdings, and low levels of liquidity.
This is according to a study released by Gregg S Fisher (pictured), president and chief investment officer of independent investment management firm Gerstein Fisher, and Nicolas PB Bollen, the E Bronson Ingram Professor of Finance at the Owen Graduate School of Management, Vanderbilt University, called "Send in the Clones? Hedge Fund Replication Using Futures Contracts".
In their study, Fisher and Bollen sought to replicate a
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