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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.
Citadel has continued investing in its energy trading business with the appointment of Patrick Reichert from Morgan Stanley as Head of Structuring and Portfolio Optimisation in the energy marketing business, according to a report by eFinancial Careers.
Saba Capital Management, the credit relative value focused hedge fund firm founded by Boaz Weinstein, has filed a dissident proxy circular in connection with a special meeting of the Citadel Income Fund, a Canada-based closed-end investment trust.
The filing is the latest move in the firm’s wider campaign against closed-end funds trading at a discount.
According to a statement, New York-based Saba has requested the 11 September meeting to try and oust the fund’s current trustees and manager Artemis Investment Management Ltd, and to approve the fund’s “timely wind-up and liquidation”.
“After nearly seven months, we are pleased that Citadel
A rush to cover bearish short positions by hedge funds and other investors has seen benchmark crude oil prices hit the highest level seen in three months following voluntary OPEC production cuts led by Saudi Arabia, according to a report by Reuters.
The report cites data from the US Commodity Futures Trading Commission and ICE Europe as revealing that hedge funds and other money managers purchased the equivalent of 52 million barrels in the six most important petroleum futures and options contracts over the seven days ending on 25 July, taking the total number of barrels purchased over the four
British hedge fund Oceanwood Capital Management is looking to cut its holding in Spanish Bank Unicaja by selling 117 million shares via an accelerated bookbuilding process, according to a report by Reuters citing information from book runner BOFA Securities.
At Tuesday’s closing price, the stake on offer, which equates to 4.4% of the bank’s stock, was worth around €124m euros ($136.04m). Oceanwood currently holds a 7.4% stake in Unicaja, which is Spain’s fifth largest bank with around €110bn in assets.
In a filing with the Spanish stock market regulator CNMV after the closing bell, BOFA Securities said bookbuilding was starting
London-based hedge fund Shinfalls Commodities has secured a new investment from New York-based investment manager New Holland Capital, including significant trading and working capital and foundational support for the firm to begin its trading operations.Â
