Lloyds not off hook yet after $370 million LIBOR fines
07/28/2014 3:54:56 PM ET
LONDON (Reuters)—Lloyds Banking Group could face further punishment after agreeing to pay fines totaling $370 million for its part in a global interest rate rigging scandal and for attempting to manipulate fees for a government lending scheme to help banks.
The settlement is the seventh joint penalty handed out by American and British regulators in connection with the attempted manipulation of the London Interbank Offered Rate, or LIBOR, and other similar benchmarks used to price around $450 trillion of financial products worldwide.
Investors dump higher oil bets as prices fall: ICE
07/28/2014 1:30:15 PM ET
LONDON (Reuters)—Hedge funds and other large speculators cut their bets on higher Brent crude oil and gasoil sharply in the week to July 22, IntercontinentalExchange Inc. said on Monday [July 28], following a big fall in prices.
G20 watchdog orders LIBOR alternatives by 2016 in benchmark reform
07/22/2014 2:37:18 PM ET
LONDON (Reuters)—Global regulators will implement a twin-track approach to ensuring interest rate benchmarks are less prone to manipulation, recommending safeguards to the current system as well as developing alternatives.
Ten banks and brokerages including Barclays and UBS have paid a total of around $6 billion to date to settle U.
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.
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.
By HedgeWorld Staff
08/20/2008 3:59:29 PM ET
Penserra, BIDS Trading in Agreement
NEW YORK (HedgeWorld.com)—Agency broker Penserra Securities and BIDS Trading on Wednesday [Aug. 20] announced an agreement whereby Penserra's institutional investor client base will get direct access to the BIDS Trading crossing system.
Argentina and holdouts play chicken
07/25/2014 1:25:47 PM ET
NEW YORK (IFR/Reuters)—The prospect of a technical default by Argentina is looming as the government and holdout investors stare each other down in a very public battle of nerves ahead of the expiration of a grace period for debt payments on July 30.
Efforts this week by U.
In the big bank asset sell-off, clarity is key: UBS chief
07/24/2014 2:11:15 PM ET
LONDON (Reuters)—When Sam Molinaro took on the job of shifting unwanted assets for UBS – all 430 billion Swiss francs ($480 billion) worth of them – his phone began to ring ceaselessly and his meetings diary filled up fast with potential buyers.
Unfortunately, many of those chasing him left disappointed.
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.
Regulators lack data to probe shadow banking sector
05/02/2014 12:51:58 PM ET
LONDON (Reuters)—Shining a light on the murky $70 trillion world of "shadow banking" is proving tricky for regulators handicapped by too little data and under pressure to boost economic growth, and this means risks may be escaping proper scrutiny.
Shadow banking, a term which annoys the sector because of its pejorative connotation, ranges from money market funds and repurchase agreements to special investment vehicles, hedge funds and securities lending.
Lipper hedge fund performance - June 2014 - Managed Futures (U.S. funds)
07/30/2014 4:47:14 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 - Managed Futures (all funds)
07/30/2014 4:46:22 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: Managers improve, but scale kills
By James Saft, Reuters
02/26/2014 5:39:21 PM ET
Fund managers are getting better, but active fund management is getting worse.
Yes, I realize that is a bit like saying improved medical care is causing us to lose more patients, but this is indeed the upshot of new research and it should put investors in a quandary.