Asset Management
Prime brokers raise capital requirements
Minimum requirements for balance-sheet size upped to as much as $50 million
GSA split amicable, Gerko says
GSA's head of FX trading says his spin-off from the hedge fund was planned for months, with the support of GSA
Prime of prime providers see growth despite SNB fallout
Credit provision to smaller firms is increasingly becoming the domain of PoPs, but the focus will shift to pre-trade risk management
Commerzbank pulls back from FX prime brokerage
Commerzbank closes prime brokerage business as it reallocates resources
FCA to probe possible conflicts in barrier options
The UK's Financial Conduct Authority will examine possible conflicts in the trading of foreign exchange options; some participants avoid these products in thinly traded markets
Global trade reporting ‘a mess', Sibos delegates told
DTCC and Commerzbank tell Sibos delegates that global derivatives trade reporting requires further regulatory intervention to be a success
C-View launches systematic FX program
Twenty-eight year trading veteran teams up with C-View to launch FX fund
Currency fund returns on the up after tough few years
Profits rise as the paths of major economies begin to diverge
Russian banks face struggle to access credit and PB
Sanctions have reduced Russian banks' ability to trade in wholesale markets, but CLS's plans remain on track
JCI Capital bucks trend with Ucits fund launch
"We never get too excited, we never get depressed," says Giovanni Pozzi, partner and head of FX at JCI Capital, despite continued negative returns measured by the Parker FX Index in June
Fluent launches PB risk management solution
Product aims to solve the problem faced by prime broker banks lacking adequate pre-trade risk management systems
Mercury Forex diversifies from spot, takes over FX24
Swiss currency manager has collaborated with FX24 to launch a new discretionary trading programme
FX Week Europe: Currency managers need to react to short-term trends
Buy-side speakers at the conference divided on prospects for the euro, but all agree investment needs to adapt to short-term trends in currencies
Saxo looks to capture the middle ground of hedge funds
Following a major restructure at the start of the year, the Danish bank is now looking at a new growth area - the delivery of multi-asset class support services, including capital raising, to emerging hedge funds
FX Concepts teeters as clients exit and AUM plummets
Assets under management at FX Concepts have continued to fall and the fund's chief strategist confirms the board's ideas haven't worked so far
Agency desks hopeful new protocol will solve Dodd-Frank issues
A preliminary protocol to enable four-way FX prime brokerage involving agency desks has been agreed ‘in principle’ and could allow agencies to scale up their activities, having been largely reduced to spot since May
Morgan Stanley restructures FX prime brokerage
Global co-heads of FXPB have both left the bank and relationships with several clients have ceased following an ‘extensive review’ of the business
Hedge funds benefit from lower prime broker fees
Hedge funds can lock in favourable rates for prime brokerage services as competition forces banks to rethink pricing, says former BlackRock managing director David Geffen who now runs a consultancy
FX prime brokers forced to terminate double give-up trades
Prime brokers have had to cancel four-way agreements for trades involving two buy-side firms, on the basis that a no-action letter issued by the CFTC on April 30 did not cover this type of business
Japan trade captivates macro hedge funds
Top hedge fund managers at the Salt conference in Las Vegas are brimming with enthusiasm for Japanese equities as Abeconomics helps weaken the yen and boost economic growth
Standardised OTC swaps spice up futurisation fight
March saw the launch of a template for a new standardised interest rate swap product – an attempt to protect swap market liquidity from the threat of futurisation. The first product based on the template could be launched within weeks, but even some…
Hedge funds benefit from lower prime broker fees
Hedge funds can lock in favourable rates for prime brokerage services as competition forces banks to rethink pricing, says former BlackRock managing director David Geffen who now runs a consultancy
Commodity trader CF Partners launches first hedge fund
CF Partners, active in the commodities market since 2006, has launched a long/short equity hedge fund after hiring Alvaro Ventosa from Spanish fund manager Cygnus Asset Management