Latest News
Fixnetix, a provider of ultra-low latency market data and trading infrastructure connectivity services, now offers a direct market data feed and trading access to Burgundy, the regional multilateral trading facility for Nordic securities.
Traders can use Fixnetix’s 10 GB+ point-to-point high-speed fibre backbone network to connect with the new trading platform, which is looking to reach a market share of 25 per cent in Sweden this year.
Fixnetix also offers a direct market data feed from Burgundy, taking advantage of its high bandwidth provision to provide traders with realtime level 1 and/or level 2 market data exactly as it leaves
In the wake of a financial crisis hedge fund managers are enacting a series of operational changes to reduce risk and enhance their ability to attract investors, a study has found.
To manage the complexities associated with critical operational enhancements, many hedge fund managers are starting to automate key processes such as reconciliation, cash management, collateral management and pricing.
The study, commissioned by Omgeo and conducted by Greenwich Associates, examined the operational practices of over 50 hedge funds each with assets over USD1bn in North America, Europe and Asia.
Approximately 70 per cent of the hedge fund managers participating in
The US Commodity Futures Trading Commission has issued an order imposing a USD1m penalty against Craig A. Riley of Ladera Ranch, California and his firm Pressio Capital Management for fraudulently operating a commodity pool and misappropriating pool participant funds.
The CFTC administrative order also permanently bars the respondents from engaging in any commodity-related trading activities, including soliciting funds, registering with the CFTC and trading on behalf of themselves or others.
The order finds that, beginning in the autumn of 2006 and continuing through February 2008, respondents fraudulently operated a commodity pool, known as Pressio, which traded a variety of
Hedgebay Trading has launched a monthly index that aims to give the hedge fund industry detailed insight into the average discount or premium to NAV that investors are paying for assets that have no contractual redemption rights to investors.
The Hedgebay Global Illiquid Asset Index is the first time that a breakdown of liquidity data has been made available to investors.
Illiquidity is the primary concern of hedge fund investors, with difficulties in providing accurate valuations of illiquid assets emerging as a key factor behind the collapse of several hedge funds over the last two years.
The IAI will be
Bats Exchange’s Multicast Pitch service, a real-time depth-of-book data feed, is now available via Atrium Network’s Exchange Ring, which offers dark fibre connectivity to exchanges, multilateral trading facilities and electronic communications networks.
Multicast Pitch allows Bats Exchange market data recipients to more easily redistribute the data within their own networks with up to a 50 per cent reduction in latency and 20 per cent fewer events than Bats’ TCP Pitch feed, a point-to-point depth-of-book market data feed.
Atrium Network offers connectivity to Bats Exchange for ultra low latency trading and data delivery. Customers can receive and redistribute real-time market
International Standard Asset Management has formed an alliance with Hite Capital Management.
As part of this alliance, Larry Hite, Alex Greyserman, and Gilbert Lee will join ISAM as shareholders and directors.
The development marks an important step in ISAM’s plan to build out a multi-strategy platform of liquid hedge fund strategies and provides a springboard for the launch of ISAM Systematic in April.
This will be followed by the launch of ISAM Fusion Fund, a fund of managed accounts.
ISAM chief executive officer Stanley Fink (pictured) says: “Good business is about good product, good distribution and good infrastructure.
Banque Privée Edmond de Rothschild Europe, the Luxembourg based subsidiary of the Geneva-based LCF Rothschild Group, has emerged as one of the collaborators of a new European funds venture hoping to tap into the demand for more liquid, tighter-regulated hedge funds.
Next Generation Absolute Return, an initiative which includes a Ucits Sicav and a Ucits fund of funds, has been set up by Switzerland-based Decision Analytics Advisory Partners and offers investors access to a funds family product range comprised of Ucits managed by carefully selected investment managers.
Decision Analytics brings together several European financial services firms in addition to
FrontPoint Partners has added an investment team to its platform which will manage a direct lending strategy dedicated to originating and investing in secured loans to small and mid-sized businesses primarily in the US.
Stephen Czech will lead the team and will be joined by Mark Newlun, Sze Ling Wan and Paul Ahrens.
The team will be based in FrontPoint’s Greenwich, Connecticut office.
Czech has over 21 years of leveraged lending and corporate finance experience and was the founder and portfolio manager of Contrarian Capital Finance, a middle market-focused direct lending strategy. At Contrarian, Czech successfully built the investment team
Standard & Poor’s has launched an index designed to reflect the price momentum that physical commodities, interest rates and currencies tend to exhibit over the long-term due to their cyclicality.
The S&P Dynamic Futures Index offers rules-based exposure – both long and short – across a portfolio of 24 liquid global commodity and financial futures contracts grouped into 14 sectors.
“With the ability to go long or short sectors, the S&P DFI is designed to capture the economic benefit over long time periods derived from both rising and declining trends within a cross-section of the futures markets,” says Michael
The Credit Suisse/Tremont Hedge Fund Index gained 0.17 per cent in January as hedge funds posted positive performance despite market reversals.
The best performing strategy in January was fixed income arbitrage (2.02 per cent) with managers finding a number of opportunities in the credit markets, which as a rule became uncorrelated to equity markets with several sectors showing positive performance.
Event driven managers produced generally positive returns (1.42 per cent), largely driven by gains from credit positions and hedging strategies that mitigated equity losses.
Event driven managers were also supported by ongoing technical conditions as credit markets held steady in
