Allergan sues Valeant, Ackman for alleged insider trading
08/01/2014 2:47:24 PM ET
LOS ANGELES (Reuters)—Allergan Inc., which is fighting a $51 billion hostile takeover bid from Valeant Pharmaceuticals International and activist investor William Ackman, on Friday [Aug.
Man Group inflows slow, profit margins narrow
08/01/2014 2:00:14 PM ET
LONDON (Reuters)—Hedge fund manager Man Group Plc reported a sharp fall in net inflows in the second quarter on Friday [Aug. 1] and its chief executive said he was cautious on the outlook for the rest of the year, attracting a mixed reaction from analysts.
Argentina holds no positive expectations for Friday's debt hearing
08/01/2014 10:59:38 AM ET
BUENOS AIRES (Reuters)—Argentina's Cabinet chief Jorge Capitanich said on Friday the government held no positive expectations for a court hearing in New York later in the day that will discuss the South American country's debt default.
The default occurred after Latin America's No.
U.S. SEC lawyer Gellasch to leave for Senate investigative panel
07/29/2014 1:53:13 PM ET
WASHINGTON (Reuters)—An attorney at the U.S. Securities and Exchange Commission who once helped craft legislative language for the "Volcker rule" and other major pieces of the 2010 Dodd-Frank financial reform law is returning to Capitol Hill.
Citigroup names James Boyle as global head of equity derivatives
07/25/2014 3:26:55 PM ET
HONG KONG (Reuters)—Citigroup Inc. has named James Boyle as global head of equity derivatives, according to an internal memo, replacing Simon Yates who left for New York hedge fund Two Sigma Investments LLC in early July.
Nasdaq, Tradeworx to launch test facility for algorithms
10/09/2013 2:02:53 PM ET
NEW YORK (Reuters) Exchange operator Nasdaq OMX Group Inc. said on Wednesday [Oct. 9] it is partnering with a unit of high-frequency trading firm Tradeworx on an algorithm testing site for firms to examine automated trading strategies and reduce operational risk.
Buy Side Steps Up, and Streamlines: TABB Group Study
By Rich Blake, HedgeWorld
05/04/2010 10:02:17 AM ET
NEW YORK (HedgeWorld.com)—As money managers engage in increasingly sophisticated trading methods while encountering more compliance pressures, the push to invest in technologically advanced Order Management Systems (OMS), and separate Execution Management Systems (EMS), has never been greater, according to a soon to be released TABB Group study which surveyed 118 buy-side trading desks.
Jana Partners, Greenlight Capital report losses for July
08/01/2014 1:24:05 PM ET
BOSTON (Reuters)—Hedge fund managers Barry Rosenstein and David Einhorn, like many other investors, were hurt by last month's late but sharp stock market selloff and are reporting losses for July, investors who saw their performance numbers said.
Rosenstein's Jana Partners funds lost 1.
High-yield investors welcome volatility
07/31/2014 6:59:48 PM ET
NEW YORK (IFR)—High-yield bankers will unleash a barrage of deals over the next two weeks, even though big outflows and rate rise fears have put the asset class in its most volatile state in months.
With more than $5.
New U.S. CFTC head says he will be tough cop, tweak rules
07/31/2014 3:29:16 PM ET
WASHINGTON (Reuters)—The new head of the U.S. derivatives regulator on Thursday [July 31] pledged he would be a tough cop now that the agency has largely finished a raft of new rules to oversee the $710 trillion global swaps market.
UK fraud squad considers criminal probe into rate rigging at Lloyds
07/30/2014 12:47:47 PM ET
LONDON (Reuters)—Britain's Serious Fraud Office (SFO) is examining material that might trigger a criminal investigation into former and current staff at Lloyds Banking Group, the partly state-owned bank, sources said on Wednesday [July 30].
The sources said the SFO was looking at information it had been handed by the UK Financial Conduct Authority (FCA) some months ago linked to an inquiry into alleged manipulation of benchmark rates, including one used to set the fees on a taxpayer-backed funding scheme for banks.
Lipper hedge fund risk-adjusted performance - June 2014 - Convertible Arbitrage (U.S. funds)
08/01/2014 3:49:05 PM ET
Editor's note: As of Aug. 1, 2014, seven U.S.-based convertible arbitrage funds open to investment had reported June 2014 performance to the Lipper Hedge Fund Database.
Lipper hedge fund risk-adjusted performance - June 2014 - Convertible Arbitrage (all funds)
08/01/2014 3:47:34 PM ET
CHICAGO (HedgeWorld.com)—The table below contain performance data from the Lipper Hedge Fund Database. Performance listed is risk-adjusted performance for all funds of any currency denomination.
What's in Your Trading Documents? End-users beware
By Thomas D'Ambrosio, Morgan, Lewis & Bockius LLP
05/01/2014 11:25:16 AM ET
When parties effect financial transactions, be it a swap, option, forward, future, repo, reverse repo, securities loan, or other derivative transaction, they expect to receive the intended economics of the transaction within the approved risk parameters of the trade. In order to satisfy that expectation, parties generally seek to document their trading relationships in a usual and customary manner, relying often on widely accepted industry documentation.
Opinion: Past, Present and Future of Alternative Funds Market
By Brian Macallister, Ledgex Systems
02/28/2014 6:04:50 PM ET
It's been less than 50 years since the fund of funds model came on the investment scene, and that short history has been anything but dull. Born in the 1970s, American fund of funds took off in the '80s and '90s, and then hit a major stumbling block in 2008, when the widespread financial crisis unearthed deep challenges around liquidity.