U.S. regulators looking into UBS, Deutsche Bank speed trading operations
07/29/2014 1:41:54 PM ET
FRANKFURT/ZURICH (Reuters)—Germany's Deutsche Bank and Switzerland's UBS said they were caught up in an inquiry by U.S. regulators, who are looking into whether broker-run stock exchanges gave an unfair advantage to high-frequency traders.
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.
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.
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.
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.
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.
UK watchdog sees rising requests for help on currency probe
07/10/2014 11:43:59 AM ET
LONDON (Reuters)—Britain's financial regulator said on Thursday [July 10] it expected to receive a rising tide of requests for help from its overseas peers as part of "unprecedented" global cooperation in an investigation into the vast foreign exchange market.
The Financial Conduct Authority (FCA), which publicly announced an investigation into allegations of misconduct in the $5.
Lipper hedge fund performance - June 2014 - Long-Short Equity (U.S. funds)
07/29/2014 5:12:33 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 - Long-Short Equity (all funds)
07/29/2014 5:11:11 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.