Allergan, facing shareholder demands, calls special meeting for Dec. 18
08/26/2014 5:34:32 PM ET
LAVAL, Quebec (Reuters)—Allergan Inc. said on Tuesday [Aug. 26] that it has scheduled a special shareholders meeting for Dec. 18, when activist investor William Ackman, who supports a hostile bid for the company by Valeant Pharmaceuticals Inc.
RadioShack shareholder negotiating rescue package: report
08/26/2014 5:28:07 PM ET
NEW YORK (Reuters)—RadioShack Corp.'s second-largest shareholder, Standard General LP, is negotiating a rescue package with investors to help the consumer electronics retailer ward off bankruptcy, Bloomberg reported, citing people with knowledge of the matter.
Argentina strips BNY Mellon's authorization to operate
08/26/2014 3:50:14 PM ET
BUENOS AIRES (Reuters)—Argentina said on Tuesday [Aug. 26] it has stripped Bank of New York Mellon's authorization to operate in the country, its latest move against the bank, which blocked an Argentine government debt payment on the orders of a U.
High-frequency trading group hires CEO, retains law firm
08/21/2014 3:19:26 PM ET
NEW YORK (Reuters)—Modern Markets Initiative, a high-frequency trading advocacy group, said on Thursday [Aug. 21] it selected Bill Harts, an electronic trading veteran, as its chief executive officer, and retained the same law firm that hired former derivatives regulator Bart Chilton.
Former SAC Capital Advisors President Conheeney leaves firm
08/18/2014 1:56:44 PM ET
BOSTON (Reuters)—Thomas Conheeney, who was president of Steven A. Cohen's SAC Capital Advisors during the years the hedge fund was being investigated for insider trading, has stepped down from the position at successor organization Point72 Asset Management, Point72 said on Monday [Aug.
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.
Retail investors pay price as hedge funds dominate ETFs
08/25/2014 11:07:22 AM ET
NEW YORK (IFR)—Junk-bond ETFs created for retail investors have been hijacked by hedge funds using them to make broad bets on bond prices, causing roller-coaster distortions in the high-yield market.
Funds designed for retail investors have morphed into hedging tools that sell off too suddenly, and in too great a size, for illiquid high-yield bonds to keep up.
Argentina's default strategy raises debt acceleration risk
08/20/2014 6:03:32 PM ET
BUENOS AIRES (Reuters)—Argentina's plan to restructure its external debt to skirt a U.S. court ruling that prevented it paying its creditors boosts the risk of investors demanding the accelerated payment of their bond holdings.
FINRA charges Wedbush with market access violations
08/18/2014 1:41:22 PM ET
WASHINGTON (Reuters)—Wall Street's self-funded regulator on Monday [Aug. 18] charged brokerage firm Wedbush Securities with having shoddy risk controls, a flaw that in turn allowed thousands of traders to flood U.
SEC reviewing Valeant, Ackman's hostile Allergan bid
08/14/2014 5:08:56 PM ET
WASHINGTON (Reuters)—U.S. securities regulators are looking at the hostile takeover bid made by billionaire investor William Ackman and Valeant Pharmaceuticals for Botox maker Allergan Inc.
Lipper hedge fund performance - July 2014 - Fund of Funds (U.S. funds)
08/26/2014 5:03:32 PM ET
CHICAGO (HedgeWorld.com)—The chart below contains hedge fund performance data from the Lipper Hedge Fund Database for all U.S. funds open to investment.
Lipper hedge fund performance - July 2014 - Fund of Funds (all funds)
08/26/2014 5:02:29 PM ET
CHICAGO (HedgeWorld.com)—The chart below contains hedge fund performance data from the Lipper Hedge Fund Database for all funds open to investment. Performance listed is absolute performance.
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.