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The financial services industry exchanges information on securities using some 55 symbologies. Third-party providers have had to develop and maintain complex workflows in order to map diverse market identifiers to the business processes that serve their clients.
This requirement has become increasingly cumbersome. Bloomberg’s Global ID (BBGID), an open symbology system of identifiers for securities makes it possible to streamline mapping processes, and is available to the public without limitation. This report explores the opportunities that BBGID creates for third-party providers.
The Palmer Square Emerging Manager Fund, LP has provided USD25 million of capital for a seed investment with Millstreet Capital Management LLC, a long/short credit hedge fund manager. In addition to securing strategic investment capital, the relationship provides Millstreet with access to the distribution channels of Atlantic and Montage.
“Millstreet is a natural fit for Palmer Square’s Emerging Manager Fund,” says Palmer Square President Christopher D Long (pictured). “Having worked together in the past, the senior team at Millstreet has deep experience analysing companies, a disciplined investment approach based on thorough research, strong risk management, and a track record of success at
Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, were up 2.2% in the first quarter of 2011, posting positive performance in each month of the quarter, according to the latest hedge fund industry review published by the Dow Jones Credit Suisse Hedge Fund Index team.
The report, which examines the drivers of hedge fund performance and asset growth in the first the months of the year,also found that the industry saw an estimated USD10.1 billion in inflows in the first quarter. If this pace is maintained for the rest of 2011, the industry is
ConvergEx Group’s NorthPoint prime services and technologies business has enhanced its offering for traditional mutual funds that are looking to employ alternative investments, including trading in shorts, options and futures as part of their overall strategy.
NorthPoint has seen a significant uptick in demand for these kinds of solutions and these latest enhancements are designed to meet the needs of this growing customer segment.
The NorthPoint platform now offers a solution that leverages several ConvergEx platforms, including the Eze OMS and RealTick, to monitor mutual funds’ collateral needs and liaise with fund administrators and custody banks to ensure those
Boutique alternative investment specialist Hatteras Funds has added two single strategy hedged mutual funds to its lineup of innovative alternative mutual fund products.
The Hatteras Long/Short Equity Fund (Tickers: A Share – HLSAX; I Share – HLSIX) and the Hatteras Long/Short Debt Fund (Tickers: A Share – HFIAX; I Share – HFINX) provide access to two of the four core strategies available through the Hatteras Alpha Hedged Strategies Fund (Ticker: ALPHX), which was launched in 2002.
"Our advisor clients desire the benefits of alternative investment strategies, but seek to access those portfolio attributes with greater flexibility, liquidity, and ease
AIS Fund Administration (AIS), a hedge fund administrator providing full middle and back office support to hedge fund managers today announced it has hired Anthony J Perugini in the new position of chief technology officer. Perugini brings more than twenty years of experience in financial services technology development and support, with a concentration in hedge funds, prime brokerage and hedge fund administration.
Paul Chain (pictured), President of AIS Fund Administration, says: “Tony has expertise in the latest technologies and development methodologies as well as superior knowledge of their applications to the hedge fund industry. AIS is fortunate to have him
Singapore Exchange (SGX) saw increased volumes on its derivatives market in April, with daily average volume up 12% from a year earlier at 252,401 contracts. Total volume, meanwhile rose 3% to 4.9 million contracts.
Nifty futures trading increased 37% from a year earlier to 1.1 million contracts while FTSE China A50 futures volume was 193,884 contracts in April.
SGX’s Securities daily average value meanwhile shrank 4% year on year to SGD1.6bn due to continued market uncertainties, with total securities turnover down 8% at SGD32.3bn. Exchange traded fund turnover however, grew 43% year on year to SGD696 million.
Clearing of OTC
Robert J Boulware, former CEO of ING Funds Distributor, has accepted a partnership offer with multi-strategy alternative investment manager Palo Verde Capital, effective immediately.
Boulware joins Palo Verde Capital as Chairman of the investment committee and will assist the firm in defining corporate strategy, as well as identify new fund opportunities.
“Attracting the leadership skills of an industry veteran like Bob speaks well as to where we are as a firm and where we sit in the industry,” says Tony Stacy, founder and managing partner of Palo Verde. “Tapping Bob’s experience and intellect, we are confident we can continue to
Fund industry executives Glenn Henderson (pictured) and Tim Calveley have completed the acquisition of fund administrator, Butterfield Fulcrum, in partnership with BV Investment Partners, a leading middle market private equity firm, following regulatory and government approvals. The acquisition includes FORS Limited, an independent provider of family office and wealth management reporting and administrative services.
With the combination of Butterfield Fulcrum and FORS, the company will offer comprehensive outsourcing solutions across the alternative investment management, family office and trust industries. The two companies will continue to be run as separate businesses by their respective management. 

Henderson will take on the
Harmonic Capital Partners, a specialist hedge fund manager which manages around USD700 million of assets employing relative value and technical trading strategies on a systematic basis to offer macro and currency funds to institutional investors, has appointed Romael Karam as partner and Samir Sheldenkar as investment partner.
Karam joined Harmonic Capital as a trader in 2003 having previously worked at MAN-Fidex as a multi-asset execution trader. He began his career 12 years ago as a Futures and Options Sales Trader at Marshall, French and Lucas. Karam was made Head of Dealing at Harmonic in 2009 and in his new role
