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Cowen has expanded its Fixed Income Outsourced Trading team with two senior hires, Vincent Governara and Chris Taliercio. Both traders bring over 15 years’ experience in the credit space at buy-side and sell-side institutions.
The newly created roles have resulted from increased demand for Fixed Income as an outsourced trading asset class, a service which Cowen Outsourced Trading launched earlier this year, providing an institutional caliber desk with access to a breadth of competitively priced liquidity and high-quality execution and reporting. In addition, Cowen’s robust technology solution provides a highly scalable global platform for its Fixed Income clients.
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New analysis by Nickel Digital Asset Management (Nickel), Europe’s specialist regulated investment manager dedicated to the digital assets market, reveals that 19 listed companies with a market cap of over USD1 trillion have around USD6.5 billion invested in bitcoin. They originally spent USD4.3 billion buying the cryptocurrency.
While seven companies made theirbBitcoin purchases in 2020, as many as eight new entrants, including Tesla, have allocated to bitcoin in just the first four months of 2021. While Tesla later suspended acceptance of bitcoin as a means of payment for Tesla cars, it remained invested in the cryptocurrency.
There is a
Digital assets’ disruptive potential could herald a seismic shift in markets, with crypto hedge funds bringing bumper returns uncorrelated to other asset classes – but investors remain wary of the patchwork of ad-hoc rules and regulations covering the sector.
United Fintech has announced its Advisory Board, with the appointment of six world-class experts who will play a key role in the global expansion of the fast-growth firm launched by Christian Frahm to help banks, hedge funds and asset managers to accelerate their transition to a digital world through access to fintechs specialising in capital markets.
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Barnes & Thornburg has added eight prominent lawyers, consultants and staff in Delaware, including partners Thomas McGonigle, Shawn Tucker and Michael Maimone.
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Jonathan Marcus has joined Reed Smith’s Energy & Natural Resources Industry Group (ENR) as a partner in the Washington office.
His multifaceted practice includes advising clients on commodity, derivatives and digital asset regulation, litigating private suits involving the derivatives and energy markets in federal district and appellate courts, and handling government enforcement matters before the Commodity Futures Trading Commission, the Federal Energy Regulatory Commission, and the Securities and Exchange Commission.
“Jonathan has deep experience in areas critical to our clients at the intersection of energy, commodities and financial services,” says ENR chair, Prajakt Samant. “Having argued and won at the
The hedge fund industry notched its seventh consecutive month in the black, posting a 1.08 per cent return for the month of May, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. In aggregate hedge funds outpaced the S&P 500 Total Return Index by 38 basis points on the month.
This stretch of positive results by hedge funds brings their year-to-date performance to 8.06 per cent, modestly narrowing the gap to the S&P 500 Total Return Index which has enjoyed a 12.62 per cent return over the same period.
All but four hedge fund
Broadridge Financial Solutions, Inc, a global Fintech leader, has announced the successful go-live of its transformative distributed ledger repo (DLR) platform. Early participants of the blockchain-enabled platform are realising significant and immediate benefits of reduced risk, operational costs and enhanced liquidity, while also accelerating their digitisation journey. The launch builds on the success of multiple pilots with sell-side and buy-side firms.
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Firms falling within the remit of the FCA’s new Investment Firm Prudential Regime (IFPR) cannot afford to be passive. They need to set themselves on the right path now if they are to meet the January 2022 compliance deadline. Some firms have a long road ahead as the new rules mean a ten-fold rise in their capital requirements.
“This regulation is meant to simplify the current regime,” explains Priya Mehta, Head of FCA Advisory and Regulatory Reporting Services, Buzzacott. “At the moment, we have multiple versions of these regulations which worked together and have been imposed on different types of
By A Paris – January 2022 may seem far away but the preparations financial services firms in the UK need to make to comply with the incoming Investment Firm Prudential Regime (IFPR) are considerable and they need to think about it now, if they haven’t done so already. The new rules are going to usher in significant change for a large swathe of firms active in the UK market.
Though there are no industry-wide statistics on how many firms have set plans in motion to ensure compliance, a poll taken during a webinar organised by Wolters Kluwer in April 2021, found 11 percent of attendees
