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Cboe Clear Digital has received the necessary approval from the Commodity Futures Trading Commission to expand its product offering to include both physically and financially cleared margined futures contracts for bitcoin and ether.Â
London-headquartered hedge fund firm Marshall Wace has appointed Todd Builione, a partner and global head of private wealth at its private equity backer KKR, to run its US business in New York, according to a report by The Financial Times.
Hedge funds sold European equities last week to invest in stocks in the United States and Japan on the back of strong economic data boosting equity markets in both countries, according to a report by Reuters, citing client notes from JP Morgan, Morgan Stanley and Goldman Sachs.
A strong US jobs report and news that an agreement had been reached to avert a US debt ceiling crisis saw the S&P 500 Index jump to its highest since last August on Friday, while investors betting on the Bank of Japan will retain its ultra-loose policy, pushed the Nikkei to a 33-year
Engine Capital LP, an activist hedge fund that owns approximately 2% of the outstanding shares of Avantax, Inc, has written a letter to the company’s board of directors, urging the tax-focused wealth management services provider to consider “strategic alternatives”, including a sale of the business.
Engine has commended the company for the sale of its TaxAct software division to Cinven to focus on its core business, but believes that despite returning the proceeds of that sale to stockholders through a Dutch tender offer and regular share buybacks, the company’s stock “continues to trade at a meaningful discount to its strategic
Ongoing challenges in the digital assets market, including regulatory uncertainty, have prompted Los Angeles-based cryptocurrency hedge fund Arca to lay off 30% of its staff, according to a report by CoinDesk.
Aquis Markets, the pan-European equities trading division of Aquis Exchange PLC, has launched new ‘dark to lit sweep’ functionality on its UK and EU platforms, allowing members to sweep from Aquis’ dark book – the Aquis Matching Pool (AMP) – to the lit book with a single order.
JP Morgan Asset Management has appointed interest rates expert Priya Misra as a managing director and portfolio manager on the Core Plus team in the firm’s Global Fixed Income, Currency & Commodities business. Misra, who will report to Kay Herr, head of research and incoming US chief investment officer for GFICC, will take up her new role in August.
Speculation that the Bank of Japan isn’t likely to change tack on its existing easy-money monetary policy anytime soon has prompted hedge fund and asset managers to up their bearish positions in the yen, according to a repot by Bloomberg.
LHG Capital Management, a $1 billion-plus hedge fund specialising in ‘quantamental’ global macro investing, has closed its first ever single-investor fund at $150 million, boosting the firm’s assets under management to over $1.3 billion.
Unlike its separately managed account (SMA) products, which trade on a pari passu basis with its flagship fund, the hedge fund firm’s ‘Fund of One’ product combines its two macro strategies, Diversified Global Macro and China Macro, into a single integrated fund, with customised ESG integration, geographical focus, currency exposure management, return/risk profile, and lock-up period.
The new fund will be jointly managed by LHG’s co-CIOs,
James Rubenstein, the former head of US electronic trading at UBS, has joined ExodusPoint Capital Management, the New York-based hedge fund firm founded by Millennium Management alumni Michael Gelband and Hyung Lee, as global head of execution services, according to a report by eFinancial Careers.
Rubenstein spent over 12 years at UBS between June 2006 and October 2018, before leaving to join Deutsche Bank as managing director – Americas head of electronic equities, and then taking on a similar electronic equities role at BNP Paribas in April 2021.
Rubenstein has now made a switch to the buy-side by moving to
