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A number of big-name hedge fund firms, including Balyasny Asset Management and Millennium Management, have parted company with metals traders after the price volatility that drew new money into the sector over the past two years dissipated leaving markets more settled, according to a report by Bloomberg.
Crossover Markets Group has become the first external technology venue to provide connectivity to Cboe Digital, a US-regulated exchange and real-time clearinghouse for spot cryptocurrencies and futures, via its flagship CROSSx product.
The collaboration provides a clearing solution for trades across multiple digital asset execution platforms.
CROSSx, an execution-only cryptocurrency electronic communications network (ECN) which was launched in in March and is backed by US-based hedge fund Two Sigma and Nomura, offers institutional and intermediary clients a platform to execute spot cryptocurrency trades, complementing Cboe Digital’s native exchange.
Cboe Digital Exchange’s clearing arm, Cboe Clear Digital, is a traditionally structured
TS Imagine, a global, cross-asset provider of trading, portfolio, and risk management solutions for financial institutions, has appointed Eric Chen to its APAC sales team in the firm’s Hong Kong office.
Chen will report to Fred Villain, TS Imagine’s Head of APAC Sales and will focus on providing solutions to hedge funds, asset managers, brokers and banks throughout global financial markets.
Chen joins TS Imagine from SS&C Technologies, where he managed the organisation’s top accounts in APAC and oversaw sales activity across mainland China, Taiwan, and Hong Kong. Prior to that he was at FinTech solutions company FIS Global.
Chen
London-headquartered restructuring firm Cork Gully has opened new offices in Luxembourg City and expanded its operations to the Grand Duchy to advise and manage challenged and tail-end investment funds, as either sub-advisors or replacement fund managers.
The risk profile of Crispin Odey’s flagship hedge fund has been lowered by Freddie Neave after he took over its management in June following allegations of sexual misconduct against the Odey Asset Management founder, according to a report by Reuters.
A “much more challenging” short-selling environment has prompted activist hedge funds Third Point to cut back on the number of single-name short positions it holds in its portfolio, according to a report by Seeking Alpha.
The report cites Third Point CEO and Chief Investment Officer Dan Loeb as writing in an investor letter sent to clients this week that: “While we have not abandoned short selling, we continue to reduce our single name short exposure in favour of market hedges and short baskets.”
The firm has also reduced the position sizes of single short names, “limiting our vulnerability to short
Trade matching continued to be a key focus for alternatives managers in the second quarter of the year, amid a normalisation of transaction volumes after the banking sector volatility seen in the first quarter, according to the latest data from Citco.
The company’s Q2 2023 Middle Office Solutions Report, shows that demand for trade matching services climbed sharply in Q2, with both cash trades and swaps climbing 31% and 33% respectively.
The impact of Central Securities Depositories Regulation (CSDR) rules in Europe continue to have an impact on demand for outsourced trade matching services. Overall, Citco saw a 15% increase
Nomura Holdings’ digital-asset subsidiary Laser Digital Middle East FZE has been awarded a full cryptocurrency license to offer virtual asset broker-dealer and investment management services in Dubai, according to a report by Bloomberg.
In a statement the firm said it is also planning to launch over-the-counter trading services and digital-asset investment products for institutional investors in the coming months.
Laser Digital, which launched last autumn, is headquartered in Switzerland and has offices in London and Dubai, with the emirate being chosen because it has a dedicated regulator for virtual assets and a growing cryptocurrency market, according to Jez Mohideen, the
Transaction Network Services has extended the build out of its TNS Cloud platform with the introduction of TNS Cloud – Server Management, delivering full-suite trading infrastructure and support to buy- and sell-side institutions and their vendors.
Global financial services provider Apex Group Ltd has appointed Qasir Bashir as Country Head – Denmark, with responsibility for overseeing the delivery of the firm’s single-source solution to Danish clients.
