Latest News
Instinet, an electronic trading and agency-only brokerage, has added hidden and iceberg order types to CBX Asia in Japan, previously a fully displayed trading venue.
The displayed order types already featured in CBX Asia in Japan will interact with the new dark order types following a strict price-time priority, where lit liquidity is crossed before dark at a given price level in the book.
The new order types are available through direct FIX connectivity, via third party provider and through the firm’s Nighthawk liquidity aggregation algorithm, which allows a single order to access multiple non-displayed trading venues and uses an
Reech Aim Partners, a London-based USD300m investment manager specialising in absolute return strategies, will continue expanding its suite of Ucits III-compliant offerings with the launch of a Ucits long only North American equity fund.
It will be managed by the same team as that of its existing US long/short absolute return hedge fund.
The fund, called the Magnetic American Growth Fund, a North American equity strategy with an absolute return style, should debut on 1 November with USD20m to USD40m of initial capital, along with institutional commitments.
Ariane Daguise, head of business development, says Reech Aim decided to launch an
Seven out of ten strategies in the Dow Jones Credit Suisse Hedge Fund Index posted positive performance in August as managers generally remained cautiously positioned with relatively low portfolio risk levels.
The index gained 0.23 per cent in August and is up 2.46 per cent year-to-date.
Many managers used equity hedges to protect their portfolios from continued volatility in equity markets. In comparison, the Dow Jones World Index was down 3.62 per cent in August, and has fallen 6.08 per cent year-to-date amid concerns over the weakening pace of global economic growth.
Tactical strategies with broad investment spectrums
Eze Castle Integration, a provider of IT services, technology and consulting to the investment industry, has launched a subsidiary called Ledgex Systems.
The new company is delivering a fund of funds technology platform that streamlines the investment management process.
The Ledgex platform helps fund of hedge funds, pensions and private equity funds organise, manage and automate their business data and processes faster and more efficiently.
The Ledgex platform includes:
• Ledgex Manager: a portfolio management system for investment managers, the Manager module delivers advanced analytics, administration and decision support to manage the investment pipeline and due diligence, estimate tracking and final
An increased appetite for alternative assets has heightened demand for investment company hedge funds, which currently have GBP6.8bn under management, but the sector has had a turbulent ride, according to research by the Association of Investment Companies.
Despite being up four per cent over one year, it has underperformed the investment company sector average over five years where it made a loss of four per cent compared to the average investment company making a gain of 23 per cent.
However, over a three year period, the sector has outperformed the investment company average by 12 per cent. The share price
A new fund structure for Jersey has been devised by Jersey-based law firm Crill Canavan and fund administrator Herald Fund Services.
The Standard Form Expert Fund, the first fund of which has been approved by the Jersey Financial Services Commission, aims to cut the time and cost involved in setting up funds domiciled in Jersey by about 70 per cent.
The new structure makes use of Jersey’s Incorporated Cell Company legislation and works in a similar way to an umbrella fund.
Individual investment funds are established as separate incorporated cells and an investment manager is appointed to each fund. Different
GlobeOp Financial Services has appointed George Evans as head of business development.
Evans reports to Hans Hufschmid (pictured), GlobeOp chief executive officer, and is based in the company’s New York City office.
He is also a member of GlobeOp’s operating committee.
"As demand for GlobeOp’s services continues to grow in both hedge fund and new institutional sectors, we will look to George’s extensive experience to identify and capture new opportunities," says Hufschmid. "His understanding of the market and client requirements will also help us create new products and client services that further differentiate the GlobeOp brand."
Evans’ career spans 30
Lloyds TSB Corporate Markets has appointed Charlie Diebel as head of market strategy reporting to Trevor Williams, chief economist.
In this newly created position, Diebel will lead a team of strategists responsible for generating daily market analysis and insights as well as more detailed and in-depth views on fixed income, rates and currencies.
Diebel has over 20 years’ financial markets experience initially as a currency and rates trader at Amex Bank and Barclays and later as fixed income and interest rate strategist at SG and RBS.
He joins from Nomura where he was head of rates strategy.
The company has
Derivatives exchange Eurex has admitted the first five exchange members based in Taiwan to its international distribution network.
Concord Futures, KGI Futures, Polaris MF Global Futures, SinoPac Futures and Ta Chong Futures were connected this month.
The admission of the additional members from Taiwan increases the number of Eurex’s Asian member firms to 19 across five countries.
Trading volume originated by Eurex’s Asia-based members has doubled in the first half of 2010 year-on-year.
“We are very pleased to welcome the first local brokers from Taiwan at Eurex, and we look forward to providing them with new trading opportunities enabling them
NYSE Liffe, the global derivatives business of NYSE Euronext, will extend the trading hours of its benchmark FTSE 100 Index Futures contract on 4 October.
FTSE 100 Index Futures will open at 01:00 hours (London time), seven hours earlier than the current opening time. The closing and daily settlement times of the contracts will remain unchanged.
NYSE Liffe is acting to better serve its growing customer base in Asia. This change is also part of NYSE Liffe’s strategy to further develop its business and strengthen its presence in the region.
Jonathan Seymour, director of equity derivatives and OTC
