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FX HedgePool, a matching engine for mid-market execution of FX swaps, has completed its first match aligned with International Monetary Market (IMM) dates.
With this initial transaction, which involved BNP Paribas and Standard Chartered Bank as the credit providers to the buy-side counterparties, FX HedgePool is introducing discrete FX matching sessions based on each quarterly IMM date.
Most buy-side participants hedge their foreign currency exposures on their bond and equity positions either monthly or quarterly. FX HedgePool conducts an end-of-month roll that allows passive hedgers to provide liquidity directly to each other. By adding a quarterly cycle in line
The number of new hedge funds being launched has reached its highest level in three years, as managers look to capitalise on the nascent economic recovery, idiosyncratic and volatility-based opportunities, and a shifting macro environment.
New hedge fund launches increased to around 175 in the fourth quarter of 2020, with the number of new funds unveiled exceeding the estimated quarterly liquidations for the second successive quarter, new industry analysis by Hedge Fund Research shows.
The number of Q4 launches was up on the previous quarter’s total of 151, bringing the estimated number of new hedge funds launched in 2020 to
JonesTrading Institutional Services (JonesTrading) has appointed industry veterans Chris Macaluso and Jon Everett to its European and US outsourced trading teams, respectively.
The moves come after a year of tremendous growth for the firm, and will further augment JonesTrading’s award winning outsourced trading offering.
Macaluso’s hire continues the expansion of JonesTrading’s European outsourced trading business, which has seen significant growth following the hiring of Peter Sellers in 2019. Macaluso was recently Head of Equity Sales Trading at Handelsbanken Capital Markets. He also held buyside trading roles at Putman, Soros and Lucerne. Macaluso is based in JonesTrading’s outsourced trading headquarters in Charleston,
Cowen has launched a new algorithmic trading solution, the “Inaccessible Liquidity Adjustment,” to address fundamental shifts in the US market structure and help clients accurately navigate an ever-evolving investment landscape.
The mix in trading volumes driven by retail and institutional investors has caused a fundamental shift in US equity markets over the past two years. Cowen has found that individual stocks with higher rates of inaccessible liquidity, often driven by retail trading, tend to have higher execution costs, which can have measurable impacts on institutional investors. Cowen’s new algorithmic trading solution directly addresses the market dynamic related to increased volumes
Angelo, Gordon & Co, a USD43 billion alternative investment firm focused on credit and real estate investing, has added two senior executives to its structured credit team.
Nicholas Smith, former Head of Non-Agency Residential Mortgage Trading and Asset-Backed Securities Trading at Bank of America Securities, has joined the Firm as Managing Director to lead the Firm’s whole loan business and expand the team’s capability across multiple asset classes. Rodney Hutter, former Managing Director and Head of Originations in the Structured Lending Group at Waterfall Asset Management, has joined the Firm as Managing Director responsible for private credit origination. Based in
Umbria, a DeFi protocol that uses layer two technology developed by Polygon, has launched Umbria Farm.
Read the full story at Institutional Asset Manager…
European Energy Exchange AG (EEX) has been awarded the contract for the sale of fuel emission allowances in the national Emissions Trading Scheme (nETS) by the German Federal Environment Agency.
Fuel emissions trading has been in force in Germany since 1 January 2021. The instrument will set a CO2 price for the heat and transport sectors at a national level for the first time, as previously this has not been covered by the European Emissions Trading Scheme (EU ETS).
All CO2-emitting fuels placed on the market, in particular petrol, diesel, heating oil, liquefied petroleum gas, natural gas and
Cineworld, a long-standing target of hedge fund short sellers, saw its share price plummet on Thursday after the group slumped to an eye-watering USD3 billion pre-tax loss last year as a result of the coronavirus pandemic.
The beleaguered global movie theatre chain fell by 10 per cent after publishing its preliminary 2020 annual results, boosting those hedge funds taking a bearish stance against the FTSE 250-listed firm.
Polygon Global Partners, Adelphi Capital, AHL Partners, New Holland Capital, and Whitebox Advisors are all holding short positions in Cineworld, according to regulatory disclosures.
Earlier this year, high profile hedge funds Marshall Wace,
Glue42, a provider of integrated desktop solutions to financial institutions globally, and Velox, a data-centric, low-code application platform built for the front-office, have launched the ‘G42 Fidessa/Velox Appliance’.
Read the full story at Institutional Asset Manager…
TORA, a provider of trading technology, has integrated its order & execution management system (OEMS) with BondCliQ’s US corporate bond consolidated quote and trade data.
The integration will greatly improve the contextual pricing data available to TORA customers evaluating corporate bond trading opportunities via the TORA OEMS.
Traders using the TORA OEMS can now access real time, centralised corporate bond quote data sourced from the 50,000-plus quotes which BondCliQ receives on a daily basis from 40-plus dealers. This quote data, in combination with real time pricing data, allows traders to better analyse the market and evaluate the quality of
