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BTIG, a broker dealer specialising in institutional trading and related brokerage services, has opened a new trading desk at 825 Third Avenue.
“BTIG continues to invest in people, technology and services. The newly completed New York trading floor is BTIG’s largest trading desk and works in unison with our regional trading desks around the country and our international affiliates around the world,” says Scott Kovalik, co-founder of BTIG.
Phase one of BTIG’s New York renovation is now complete with the opening of its new trading floor on the 6th floor of 825 Third Avenue. The new trading floor has been
With a strong contribution from equity hedge strategies, hedge funds posted a gain for November, with the HFRI Fund Weighted Composite Index up 0.26 per cent.
Sovereign credit risk was again a focus for investors in the month of November, as the leaders of the EU worked to provide financial assistance to member countries struggling with outstanding sovereign obligations and sovereign spreads rose sharply.
The Euro declined for the month, along with most other major currencies, as investors moved into US dollar denominated assets.
Equity markets generally posted modest declines, though with some dispersion as Japan rose while European markets
Multifonds, a provider of single platform multi-jurisdictional investment fund software, has released the latest version of Multifonds Transfer Agent, v3.60.
The release includes 12 extensions to the hedge fund, performance fee equalisation and series of share functionality.
For example, it includes extensions to dividend distribution capabilities for equalisation or series of shares funds, as well as the ability to on-board funds between crystallisation periods by catering for the migration of performance fee history.
Keith Hale, global head of transfer agency at Multifonds, says: “We have been working closely with several fund administrators that had previously run legacy in-house systems,
PerTrac, a provider of analytic, reporting and communications software for investment professionals, says 20 firms have selected PerTrac RiskPlus as their solution of choice for examining and reporting on risk exposure across their portfolios.
PerTrac partnered with FinAnalytica, a provider of real-world risk and portfolio construction solutions, to deliver PerTrac RiskPlus to customers looking to conduct in-depth risk assessment of their portfolios.
“PerTrac RiskPlus has been embraced by investment professionals who are looking for a way to identify risk in portfolios that include funds and alternative investments,” says Jeff Hendren, co-president of PerTrac. “Our customers are realising significant new
Nasdaq OMX will expand the real time latency measurement service provided by Correlix to its Nordic marketplaces.
The service will allow Nasdaq OMX Nordic exchanges’ members access to independent real-time latency measurement information for intraday and post-day analytics.
The Correlix RaceTeam latency monitoring service will provide Nasdaq OMX Nordic members with full latency transparency of order execution and market data flow in real-time.
The independent latency measurement information provided by the service will enable members to better leverage latency information for optimised trading strategies.
Hans-Ole Jochumsen, president of Nasdaq OMX Nordic, says: "This new service addresses an important customer need,
The Hennessee Hedge Fund Index advanced 0.2 per cent in November and is up 7.0 per cent year-to-date.
The S&P 500 declined 0.2 per cent (+5.9 per cent YTD), the Dow Jones Industrial Average declined 1.0 per cent (+5.5 per cent YTD), and the Nasdaq Composite Index decreased 0.4 per cent (+10.1 per cent YTD).
Bonds also fell, as the Barclays Aggregate Bond Index declined 0.6 per cent (+7.7 per cent YTD).
“Hedge funds were slightly positive while traditional markets declined amid renewed European debt fears,” says Charles Gradante, co-founder of Hennessee Group. “In general, hedge fund managers feel frustrated
Ronly and Morgan Stanley Commodities have traded the first cash-settled cleared swap in the emerging China domestic rebar market.
The trade, which was brokered by Freight Investor Services, was for China Domestic Rebar Q1 2011 executed at USD690/tonne, with settlement against the Cleartrade China Steel Index and clearing at LCH.Clearnet.
The new contract is one of a series of new products introduced in October and November to provide access to European and Chinese steel futures markets for traders who want to execute OTC cleared transactions without the need for exchange membership.
Earlier this month, FIS began offering contracts in China
Fund administrator HSBC Securities Services (Guernsey) has appointed Amit Taylor as a managing director.
Taylor, a Chartered Accountant, was previously European head of sales for asset managers in London.
Before joining HSBC, Taylor held several roles within PricewaterhouseCoopers, where he helped to build its investment management consultancy business in the UK and was manager in the investment management division of the audit and assurance practice.
Ghadir Abu Leil Cooper (pictured), Investment Manager, Baring MENA Fund and Matthias Siller, Investment Manager, Baring Russia Fund, summarise the investment implications of FIFA’s decision to host the 2018 and 2022 World Cups in Russia and Qatar respectively.
FIFA’s decision to award the staging of the 2018 World Cup to Russia means that football won’t be coming home to England until at least 2030. While further years of hurt lie ahead for English football, we have some consolation in the fact that the outcome of the voting strengthens the investment case for not only Russia but also Qatar, which is
Caceis has launched a service that aims to help management companies implement the Key Information Document, which replaces the Ucits simplified prospectus on 1 July 2011.
The service is designed for clients that wish to draw up their own KIDs as well as those seeking to outsource the entire document creation and monitoring process.
The service is offered in different modules ranging from raw or processed data provision (charges, performance and risk/return indicators) to a fully outsourced solution.
The KID service forms part of Caceis’s cross-border fund distribution support service.
Caceis is the asset servicing banking group of Crédit Agricole
