The Depository Trust & Clearing Corporation has launched a new LIBOR Benchmark Replacement Index solution to support the finance industry’s transition from LIBOR benchmark rates to Secured Overnight Financing Rate Data (SOFR) as well as other new fallback rate indices by June 30, 2023. 

Alternative asset management firm Hayfin Capital Management has expanded its client coverage capabilities in German-speaking Europe with the appointment of Marco Sedlmayr as head of DACH within the partner solutions team based in Munich.

Digital asset investment products saw outflows for the fifth consecutive week last week, totalling $255 million, the largest single weekly outflows on record representing 1.0% of total AuM, according to the latest Digital Asset Funds Flows Weekly report from CoinShares.

Oaktree is one of a number of hedge funds and banks offering to acquire deposits held by startups at the failed Silicon Valley Bank, but only at steep discounts, according to reports. 

Brevan Howard Asset Management is continuing its push into the digital assets space with the acquisition of a long-short hedge fund run by crypto investment firm Dragonfly Capital, according to a report by Bloomberg.

Palliser Capital, a London-based activist hedge fund founded by former Elliot Management exec James Smith, is agitating for a boardroom shake-up at Pendragon, the group behind the Evans Halshaw, Stratstone and CarStore car dealership brands, according to a report by the Daily Telegraph.

A recent Form 13F filing made with the US Securities & Exchange Commission has revealed the Neuberger Berman Group reduced its stake in Blackstone Inc by 12.1% to 4,625,456 shares in the third quarter after selling 634,353 shares during the period, according to a report by MarketBeat.

Durlston Partners, a talent advisory firm for hedge funds, family offices and digital asset firms and banks, focused on the technology, quantitative finance and data science sectors, has appointed Joshwa Shah as the firm’s new head of business development.

Alternative data specialist QuantCube Technology has launched the QuantCube Industrial Production Indicator (IPI) nowcast – providing a daily update on industrial production output in the US. The indicator measures year on year changes in outputs from the manufacturing, mining, electricity and gas industries to provide insights into total industrial production, a key driver of GDP.   

Foreign exchange futures and options at derivatives marketplace CME Group reached a new single-day volume record of 3.15 million contracts on 8 March, 2023, equivalent to $296 billion in USD notional, a 5% increase over thee previous record of three million contracts set in September 2022.