Credit Suisse says probed by regulators about dark pools
07/31/2014 12:14:31 PM ET
ZÜRICH (Reuters)—Swiss bank Credit Suisse on Thursday [July 31] became the latest major European bank to say it was caught up in an investigation into alternative trading venues known as dark pools.
The bank is one of the biggest players in dark pools, which are broker-run trading venues that let investors trade shares anonymously and only make trading data available afterwards, reducing the chance of information leaking about trade orders.
Argentina defaults but investors see deal possible eventually
07/31/2014 11:34:30 AM ET
BUENOS AIRES (Reuters)—Argentina defaulted for the second time in 12 years after last-ditch talks with what it called "vulture" creditors failed, as focus turned to whether big banks and funds would request the declaration of a "credit event".
After a long legal battle with hedge funds which had rejected Argentina's debt restructuring following a 2002 default, Latin America's third-biggest economy failed to strike a deal in time to meet a midnight U.
Ex-hedge fund chief Micalizzi loses appeal against UK ban, fine
07/30/2014 4:09:20 PM ET
LONDON (Reuters)—The Italian former head of defunct UK hedge fund Dynamic Decisions on Wednesday [July 30] lost his appeal against a multi-million pound fine and a ban from holding any role in Britain's financial sector.
A court in London said former chief executive and university lecturer Alberto Micalizzi had "deliberately misrepresented" to investors the position of the DD Growth Premium Master Fund, worth $437 million in 2008 before collapsing the same year.
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.
ISDA names O'Malia as CEO
07/23/2014 3:34:58 PM ET
HONG KONG (Reuters)—The International Swaps and Derivatives Association (ISDA, a global derivatives trade group, said on Wednesday [July 23] it had appointed leading U.S.
New Computer Programs Help Hedge Fund AHL's Revival
11/11/2010 11:08:42 AM ET
LONDON (Reuters)—New computer programs designed to cope with choppy markets have helped Man Group's flagship hedge fund AHL produce stronger returns after last year's damaging losses, its manager told Reuters.
Tim Wong, chief executive of AHL, a $22.
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.
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.
Ex-Citi FX trading head Prasad readies macro hedge fund
07/28/2014 4:40:45 PM ET
LONDON (Reuters)—Former global head of foreign exchange at Citigroup, Anil Prasad, is preparing to launch his own hedge fund in the first quarter of 2015, three sources familiar with the matter said.
The launch comes as global regulatory changes restrict banks from trading with their own money, prompting so-called proprietary desk traders to strike out on their own.
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.
Global financial watchdog calls for FX fix reforms, urges banks to clean up
07/15/2014 12:44:18 PM ET
LONDON (Reuters)—The world's top financial regulator on Tuesday [July 15] urged deep-rooted change to how currency benchmarks are set, encouraging market players to tighten up their governance, practices and controls rather than imposing stringent new regulation.
The proposals come in response to allegations being investigated by regulators that dealers at major banks colluded and manipulated key reference rates in the $5.
Lipper hedge fund performance - June 2014 - Multi-Strategy (U.S. funds)
07/31/2014 4:47:49 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 - June 2014 - Multi-Strategy (all funds)
07/31/2014 4:38:44 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.
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.
Opinion: UK commodity regulator embraces more openness
By John Kemp, Reuters
02/27/2014 3:50:19 PM ET
By publishing a new primer on the changing landscape for commodity markets and emerging issues for regulators, Britain's Financial Conduct Authority (FCA) has taken a welcome first step towards greater transparency.
Despite its rather dull title, the FCA's "Commodity Markets Update", released on Thursday [Feb.