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RealTick, a multi-broker cross-asset electronic trading platform, has expanded its capabilities with Jefferies as part of its international multi-broker network.
The partnership allows clients to execute US equity pairs trades, plus international equities, using new algorithms from Jefferies, a securities and investment banking firm.
RealTick users can now access Jefferies’ newest suite of algorithms, comprising MultiScale, Trader and Panel, all of which allow a trader to take more control over executions and be more responsive to changing market dynamics.
Additionally, Jefferies has upgraded its pairs trading algorithms, providing simultaneous execution of two stocks using pre-defined conditions including: spread, price ratio
Structuring hedge fund strategies as Ucits will distort strategies and diminish returns, according to a survey by Edhec-Risk Institute.
Many strategies would need to be altered to earn the Ucits label, and liquidity requirements would put the liquidity risk premium out of reach, the survey found.
Sixty nine per cent of participants think that the “liquidity premium of hedge fund strategies will disappear and that performance will fall” when hedge fund strategies are structured as Ucits.
The survey suggests that institutional investors bound by quantitative restrictions will ask fund managers and distributors to repackage hedge fund strategies as Ucits. For
Starting a hedge fund is a major undertaking that requires a methodical approach and experienced partners. Eze Castle has identified several key criteria firms should consider when launching a fund – everything from real estate and operational infrastructure to marketing and technology.
To find out more about Eze Castle’s Hedge Fund Launch Kit, please click here
Matrix Group, a privately owned UK financial services business, has appointed Tiraneh Tehranchian as head of risk.
Tiraneh joins from Man Global Strategies, Man Investments where she was head of risk for nearly five years.
Prior to that she was risk manager at Abbey National Treasury Services, having started her career at JP Morgan.
Chris Merry, chief executive of the Matrix Group, says: “I am delighted to welcome Tiraneh into this important role at Matrix. Her outstanding credentials will ensure that we continue to focus on maintaining a solid risk platform. I am confident that as we continue to
KB Associates, a consulting firm to the asset management community, has appointed Phillip Chapple as executive director.
He joins Claire Cawley in the new London office.
Chapple will help to set up and grow the London office, and develop the KB product range by offering hedge fund start up consultancy, due diligence advisory, re-domiciliation planning and infrastructure review services in the London alternative investment market.
Chapple has been involved in the financial services industry since 1997 and joins from Ironshield Capital Management where he was chief operating officer.
Previously he was chief operating officer at Ibis Asset Management, a USD10bn
Tullett Prebon, an inter-dealer broker, has launched a primary placement business for alternatives to raise capital for hedge funds, private equity and other alternative investment funds.
Tullett Prebon’s alternative investment desk began over a year ago to place secondary interests in alternative funds on behalf of institutional investors.
The team aims to leverage its buy-side experience coupled with its reach in the global institutional investor market to attract blue chip clients.
The alternative investment team, headed by Neil Campbell, a former fund of funds manager, has hired Gahtan Vahidy to drive its origination efforts.
Vahidy and Campbell previously worked together
NYSE Euronext will start clearing its European securities and derivatives business through two new purpose-built clearing houses based in London and Paris in late 2012, subject to regulatory approval.
LCH.Clearnet in London and in Paris have been informed that NYSE Euronext’s current contractual arrangements for clearing with them will terminate accordingly at that time.
No termination fees or penalties will be payable.
The new clearing houses are part of NYSE Euronext’s plan to offer clearing services in the UK and in the Eurozone. The clearing houses will complement NYSE Euronext’s cash and derivatives trading business.
The clearing of NYSE
Commodity Futures Trading Commission chairman Gary Gensler and Securities and Exchange Commission chairman Mary Schapiro have formed a joint committee that will address emerging regulatory issues.
The establishment of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues was one of the 20 recommendations included in the agencies’ harmonisation report issued last year.
The joint committee will develop recommendations on emerging and ongoing issues relating to both agencies.
The first item on the committee’s agenda is conducting a review of last Thursday’s market events and making recommendations related to market structure issues that may have contributed to the volatility, as
Carey Olsen, a law firm in the Channel Islands, has recruited four lawyers.
Oliver Quarmby, Vanessa Moussaieff, Sophia Harrison and David Jones join the firm with experience gained at magic-circle firms in London and top tier firms from across the UK.
Quarmby, who joins the firm’s corporate team as an associate, is a specialist funds lawyer from Laven Legal Services in the City. He began his career in the funds group at Stephenson Harwood before joining the corporate finance team at City broking firm Collins Stewart where he was assistant director of corporate finance.
Jones is credited with developing the
NYSE Liffe says its Malting Barley Futures and Options have attracted good levels of participation from the market since launching on 10 May, trading a total of over 84 lots in futures and ten lots in options.
Trading occurred in five delivery months, from the first position of November 2010 out as far as the November 2011 futures contract, as well as in the May 2011 options expiry month.
“We are very pleased with the markets response to the first day of trading,” says Ian Dudden, director of commodity derivatives at NYSE Liffe. “The level of activity and range
