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Following a tumultuous week for the UK foreign exchange (FX) market in the wake of the Government’s mini budget announcement, London-based FX company Lumon, which specialises in international payments and foreign exchange risk management for private and corporate clients, is reporting a 30% increase in clients ‘forward buying’ currency.
This involves utilising long-term contracts that lock currency conversions away at today’s rate for payments in the future.
The rapid future-proofing pursued by both private and corporate clients comes after the British pound plummeted to record low levels earlier this week as a direct response to the planned tax cuts
Tradeweb Markets, a global operator of electronic marketplaces for rates, credit, equities and money markets, has partnered with S&P Global Market Intelligence to introduce electronic connectivity between primary and secondary markets.
The product scope currently includes European credit, covered, sovereign, supranational and agency (SSA) bonds.
Tradeweb’s integration of InvestorAccess, S&P Global Market Intelligence’s digital primary market platform, enables Tradeweb clients to electronically access new deals and manage orders in the primary market via the Tradeweb platform.
InvestorAccess addresses a number of challenges inherent to the issuance of new deals by automating what traditionally were manual processes for accessing deal
As part of its ongoing effort to professionalise the global alternative investment space, the Chartered Alternative Investment Analyst (CAIA) Association is now providing bundled access to its curriculum beginning with candidates planning to sit for the March 2023 CAIA exam.
London-based hedge fund Cirera Capital is liquidating with co-founder Ahmet Arinc, the former head of forex at Deutsche Bank, set to join multi-strategy firm ExodusPoint Capital Management, according to a report by Bloomberg.
The report cites an investor document as revealing that Arinc, with Cirera Capital co-founder Tijen Gumusdis managed about $500 million at the emerging-markets-focused macro hedge fund, having grown their capital from just $17 million at the fund’s inception.
In a letter to investors in August, the pair highlighted rising cost pressures as the reason for their decision to shutter Cirera Capital and continue managing assets “under a
Multi-strategy hedge funds were again the capital raising winners in August bringing in a net +$2.75 billion, and taking year to date inflows to +$18.37 billion, according to a report by AlphaWeek.
Hedge funds and traders see the wild swings seen in British markets in the past couple of days as having provided an “opportunity of a lifetime” for currency and bond trading, according to a report by Reuters.
The market turmoil was sparked by Friday’s ‘mini-budget’ announcement of £45 billion of unfunded tax cuts with sterling subsequently losing 6 per cent of its value and UK government bond prices soaring. The Bank of England stepped in on Wednesday to try and shore up the markets by announcing a plan to buy £65 billion of UK bonds by 14 October.
The report
Horizon Software (Horizon), a provider of electronic trading solutions and algorithmic technology, has opened a new Singapore office to support more sales in the region. Horizon already has five clients located in Singapore and the client base is witnessing significant growth across the APAC region.
The new office, located in One Raffles Place Mall, #02-01 Singapore 048616, will focus on better serving Horizon’s clients, supporting the growing traction in the regional market and increasing Horizon’s visibility in the area.
Horizon software believes it is ideally positioned to support local players and to bring larger scale project offerings for prospects in
JonesTrading Institutional Services (JonesTrading), a global banking and brokerage firm, has formed a strategic relationship with Boldwater Partners (Boldwater) to develop its capital introduction services offering.
Nuveen Infrastructure’s Glennmont Partners, a clean energy infrastructure manager, has launched its energy transition enhanced credit II strategy (ETEC II) after raising €250 million, for investments in renewable energy and sustainable infrastructure assets.
The new strategy will draw on the experience of Glennmont’s original €200 million energy transition credit strategy which has exposure to over 150 renewable energy loans and has consistently delivered value for investors.
ETEC II will seek to capitalise on growing opportunities to support the green energy and infrastructure transition. The strategy also aims to boost the deployment of renewable technologies including both onshore and offshore wind
The winners of the inaugural Hedgeweek & Private Equity Wire European Credit Awards, which recognise excellence among private equity fund managers and service providers in Europe across a wide range of categories, have been announced.
