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Syncova, a provider of margin and financing software to hedge funds and prime brokers, has opened an office in New York.
The firm has also appointed Kevin Ashby (pictured) as non-executive director.
Syncova’s client base includes some of the largest US prime brokers and hedge funds with a combined total AUM of USD94bn.
The New York office will provide a local support hub for existing clients and drive further business development efforts in North America.
Liam Huxley, Syncova’s chief executive, says: “Market demand for our services in the US has never been greater, with hedge funds under increasing pressure to
Lance Futures, a brokerage service provider in Germany, is designing a risk management platform that attempts to provide a greater choice of analytical tools for institutional investors and investment advisers.
The platform will offer access to Lance Futures’ range of hedge funds and managed futures funds.
The following range of analytical tools are provided for investment trading professionals: risk-return appraisal across numerous advanced metrics such higher moments; multi-factor return-based techniques and analysis; portfolio creation and reproduction tools; construction of custom-assessment metrics tools; non-linear portfolio extension tools; managers’ evaluation tools, particularly during undetected market trends; flexible screening filters and split creation
Newedge, a multi-asset clearing and brokerage firm, has executed and centrally cleared over USD2bn in client interest rate swaps on the Eris Exchange platform, an exempt board of trade under CFTC regulation, with clearing services provided by CME Clearing.
Newedge connected to Eris Exchange in August 2010 for the purpose of broking between exchange members to execute client interest rate swaps.
Counterparties executing OTC interest rate swap transactions can reduce their risk by trading on Eris Exchange with Newedge as their executing and clearing firm.
The Eris Exchange interest rate swap futures product is designed to model a standard fixed
Man has launched a Ucits III long/short equity fund called Man Long/Short Europe.
The fund will be managed by Man’s long/short equity team led by Robin Lowe.
It offers investors access to a number of offshore European long/short equity managers in a Ucits III compliant format for the first time.
It is a fund of funds with a focused portfolio of between eight and 12 managers. A due diligence process comprising top down and bottom up research is employed to ensure that only the highest calibre managers are selected.
Managers are selected from the full European long/short universe of over
The US Commodity Futures Trading Commission has obtained an emergency federal court order freezing the assets of defendants People’s Alternative of Los Angeles and its principals, Jaime Gallardo of Pasadena and Karl Ochoa and Maria Iracheta of Los Angeles.
The court’s order also prohibits the destruction of books and records and grants the CFTC immediate access to such documents.
The order stems from a CFTC enforcement action filed on 21 September 2010 in the US District Court for the Central District of California, charging the defendants with solicitation fraud and misappropriation of customer funds in connection with the operation of
Law firm Greenberg Traurig has added fund lawyers John A. Brunjes and Genna N. Garver to its corporate and securities practice.
Brunjes joins in the Boston and New York offices as shareholder and Garver in the New York office as of counsel, where they will add to the firm’s growing private investment funds group.
Prior to joining Greenberg Traurig, Brunjes and Garver were at Bracewell & Giuliani in its Connecticut office where Brunjes, a partner, was a member of private investment funds group, and head of the fund formation practice.
Garver was a member of the private investment funds and
Price Asset Management, an investment manager specialising in alternative investment products with a primary focus on the commodity asset class and managed futures, has appointed Edward Egilinsky as a managing director.
Based out of the New York office, Egilinsky will assist in product distribution as well as sales and new product initiatives for the firm.
Egilinsky has over 18 years’ experience in the alternative investment industry. During his career, he has held senior sales management positions and has been responsible for raising multiple billions of dollars in assets for various alternative investment products and strategies.
Prior to joining Price
Agio Technology, a provider of managed IT services for hedge funds, will kick off the Agio iPad Challenge for hedge funds on 1 October through 30 November.
The purpose of the challenge is to collect hard data on how the iPad is used in the hedge fund space.
Agio’s iPad Challenge participants include funds ranging from USD50m to USD1bn AUM.
“We believe the advent of the iPad will bring about a noticeable shift in the dynamic IT environment of hedge funds,” says Bart McDonough, chief executive. “We are looking to the iPad Challenge to provide valuable insight into how the
Nuveen Investments, a provider of investment services to institutions and high-net-worth investors, has completed the initial public offering of the Nuveen Diversified Commodity Fund.
The fund will invest primarily in a diversified portfolio of commodity futures and options contracts.
The fund will begin trading on the NYSE Amex under the symbol CFD.
The fund raised USD245m in its share offering, assuming full exercise of the underwriters’ option to purchase additional shares, which may not occur.
Nuveen Commodities Asset Management, a wholly-owned subsidiary of Nuveen Investments, is the manager of the fund and will be responsible for determining the fund’s overall
Barclays Capital has hired ten managing directors based in New York and London for its prime services business.
The appointments include external hires and internal transfers, and encompass the business’s major product lines:
Jack Inglis: head of prime services distribution, Europe, and a member of the prime services executive committee. He was previously chief executive at Ferox Capital Management.
Thomas Chippas: head of quantitative prime brokerage. He was previously at Deutsche Bank where he was head of equities sales, North America for Autobahn, Deutsche Bank’s electronic distribution service.
David Gaynes: head of prime services origination sales for multi-strategy hedge funds.
