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  • Mike T 11:23 on June 29, 2015 Permalink | Reply
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    TradingScreen’s Morning Roundup 

    Key Regulatory Developments:5614220391_e0ae08b26f_b

    Litigation:

    Technology:

    Thought Leadership:

     
  • Mike T 16:45 on June 26, 2015 Permalink | Reply
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    Hedge Fund News Wrap: Week Ending 06/26/15 

    Hedge Funds Unfazed as Greece Drama Continues

    (CNBC) – The small group of hedge funds betting on a Greek recovery remain invested, still hoping that assets like government bonds and bank stocks will rally once a political solution is reached on the nation’s financial obligations.

    “[There’s] no change on the expectation of a deal,” Diego Ferro, co-chief investment officer of $1 billion global investor Greylock Capital Management, said in an email. “This problem has been political from the beginning, the amount of money involved is not that big. So you would expect some bickering to last until it is signed.” Greylock owns government bonds and bank stocks.

    Other hedge funds to bet on a Greek recovery include Third Point and Alden Global Capital via Greek recovery-focused funds. Perry Capital and Knighthead Capital Management are among those that own Greek government bonds, according to recent conversations with people familiar with the situation.

    Read the entire article at CNBC
    More coverage: Reuters and Bloomberg Business

    Korea Fund Has $18 Billion at Stake Backing Samsung on C&T

    (Bloomberg Business) – In the fight between a foreign hedge fund and the biggest conglomerate in South Korea, the state-run pension may have the swing vote. It will probably side with Samsung Group for reasons that go beyond nationalism.

    Korea’s National Pension Service is the biggest shareholder in Samsung C&T Corp. with 10.15 percent of common shares, making its support vital to U.S. activist investor Paul Elliott Singer in his attempt to block a proposed takeover of the company by another Samsung affiliate, Cheil Industries Inc.

    It’s a common position for South Korea’s biggest investor. The NPS is used to being caught between the competing interests of business stalwarts and minority shareholders. Its stakes in at least 12 listed Samsung affiliates, worth $17.8 billion, may force its hand on C&T because with the takeover so integral to Samsung’s once-in-a-generation leadership transition, the fund can’t evaluate the deal in isolation.

    Read the entire article at Bloomberg Business
    More coverage: Financial Times and The Wall Street Journal

    Citadel Preps New Equity L/S Strategy, Rehires Runnfeldt

    (FINalternatives) – Former Citadel trader Jeffrey Runnfeldt is returning to the hedge fund to run a new global long/short equity division.

    The new effort, which reportedly will be allocated $1 billion of the $26 billion managed by Ken Griffin’s famed investment company, will eventually be centered around ten trading teams drawn from both current employees and new hires, according to The Wall Street Journal.

    Runnfeldt retired from Citadel in 2012 after a ten-year career. He became co-manager of global equities for the fund in 2009 along with Brandon Haley and Steve Weller. Prior to Citadel, he held positions at Montgomery Asset Management and BT Alex Brown. Rare among senior hedge fund executives, Runnfeldt began his career as a bank examiner at the Federal Reserve Bank of San Francisco.

    Read the entire article at FINalternatives
    More coverage: The Wall Street Journal and Reuters

     

     
  • Mike T 10:58 on June 22, 2015 Permalink | Reply
    Tags: , , , , , ,   

    TradingScreen’s Morning Roundup 

    Key Regulatory Developments:5614220391_e0ae08b26f_b

    Litigation:

    Technology:

    Thought Leadership:

     
  • Mike T 10:29 on June 19, 2015 Permalink | Reply
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    Hedge Fund News Wrap: Week Ending 06/19/15 

    Greek Regulator Fines Hedge Funds Over Short Selling Issue

    (Reuters) – Greece’s capital markets regulator has fined more than a dozen hedge funds in the past few months for potentially breaching European rules on short selling stocks without borrowing them first, an official from the regulator said on Friday.

    The hedge funds include Tosca Master Fund, Hadron Alpha Select Fund, and Verrazzano European Long Short, according to a statement on the website of Greece’s Hellenic Capital Market Commission. Tosca, Hadron and Verrazzano declined to comment.

    The fines range between 10,000 euros ($11,304) and 40,000 euros and are related to trades in Greek banks such as Eurobank Ergasias, Alpha Bank and National Bank of Greece, the regulator’s statement said. Short selling is used by hedge funds to profit from falling share prices. It usually involves selling borrowed shares and buying them back at a lower price and pocketing the difference. (More …)

     
  • Mike T 14:18 on June 16, 2015 Permalink | Reply
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    FX Week Recognizes TradingScreen with 2 e-FX Award Nominations 

    After launching the first fair FX pricing index, FFFX, this year, TradingScreen is honored to have been nominated by FX Week for 2 e-FX Awards:

    • Best E-surveillance Solution Provider
    • Best Trading Technology Vendor

    Eva Szalay, the Editor of FX Week, states, “The past year has seen transformational changes in the FX industry and it is clear that the definition of innovation in electronic foreign exchange is changing fast as banks, brokers and technology vendors deal with strapped IT budgets and staff resources, the changing demands of regulation, and the evolving ecology of the FX market.

    “The e-FX awards will recognise innovation and excellence across the industry, and we expect this year’s entries to be more competitive than ever.”

    The Best Trading Technology Provider Award will go to “the business that can demonstrate its track record in delivering the best technology to the FX industry and adapting its services to cater to changing market conditions. The winner will be able to show how the innovative products it has offered the market have set it apart from rivals.”

    Best E-surveillance Solution Provider will go to “the provider that can demonstrate accuracy, value for money and reliability. The regulatory investigation into currency markets has increased focus on what happens on electronic trading systems, behaviour and conduct. It has also brought to the fore the need to keep a close eye on how orders are processed, unusual trading patterns and the monitoring and interpreting data from electronic-trading infrastructures.”

    The winners will be announced at a reception on 14 July at the New York Hilton Midtown.

    Interested press and analysts may contact:
    Cristina Dolan
    Head of Content and Communications
    Cristina.Dolan@tradingscreen.com
    Direct: +1 212-359-4149

    Click here if you are interested in learning more about what TradingScreen can offer you.

    About TradingScreen
    TradingScreen is the leading independent provider of liquidity, trading, and investment technology via SaaS to the financial community. TradingScreen’s goal is to simplify the complexity of markets, by consolidating all investment workflows for exchange-traded and OTC instruments on a single platform. TradingScreen brings the major, global sell-side participants, leading regional brokers and the largest Buy side firms to a common environment, delivering market access, order- and liquidity-management and Investment services. The benefit to clients is an exceptional reach across counterparties, asset classes, and geography, and a full integration of services front to back. TradingScreen was named the Best Fixed Income Trading Platform in 2014 by Wall Street Letter for the second consecutive year, in addition to winning numerous awards for best trading technology. TradingScreen provides global coverage from offices in Boston, Chicago, Geneva, Hong Kong, London, New York, Paris, São Paulo, Singapore, Sydney and Tokyo. For more information on TradingScreen, go to http://www.tradingscreen.com.

     
  • Mike T 10:57 on June 15, 2015 Permalink | Reply
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    TradingScreen’s Morning Roundup 

    Key Regulatory Developments:5614220391_e0ae08b26f_b

    Litigation:

    Technology:

    Thought Leadership:

     
  • Mike T 12:26 on June 12, 2015 Permalink | Reply
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    Hedge Fund News Wrap: Week Ending 06/12/15 

    ECB’s Draghi Defends Private Meetings after Criticism of Hedge-Fund Dinner

    (Reuters) – The head of the European Central Bank has defended a private discussion about money printing plans with a group of hedge funds, saying closed-door meetings with special audiences helped the ECB do its job.

    Last month, the EU’s top watchdog or Ombudsman challenged the ECB over discussing sensitive plans for money printing with a group of hedge funds, giving them a headstart over investors who only found out the following day.

    A top ECB official, Benoit Coeure, had said at a dinner in London attended by hedge funds, academics and bankers that the central bank would accelerate bond buying in the coming weeks.

    When his speech was released on the ECB’s website the following morning, the euro fell sharply and stock and bond prices jumped, prompting investors to cry foul. The ECB blamed the delay in publication on an error. (More …)

     
  • Mike T 11:28 on June 8, 2015 Permalink | Reply
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    “Dream it. Code it. Win it.” Feature 

    “Dream it. Code it. Win it.” has been featured on NY1 News’ It Ain’t Rocket Science show, which is part of Time Warner Cable’s Connect a Million Minds $100M project to inspire young people to become the pioneers of the future:

     
  • Mike T 10:26 on June 8, 2015 Permalink | Reply
    Tags: , , , , , ,   

    TradingScreen’s Morning Roundup 

    Key Regulatory Developments:5614220391_e0ae08b26f_b

    Litigation:

    Technology:

    Thought Leadership:

     
  • Mike T 16:02 on June 5, 2015 Permalink | Reply
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    Hedge Fund News Wrap: Week Ending 06/05/15 

    An Activist Investor Takes Aim at Bid for Samsung

    (DealBook) – One of America’s biggest activist hedge funds is making a rare foray into Asia, betting that it can alter the restructuring plans of the heavyweight Samsung.

    The move by Elliott Management, run by Paul E. Singer, essentially threatens efforts by the family that controls the South Korean tech giant to consolidate its hold over a sprawling corporate empire. The fund, which bought a 7.1 percent stake in a Samsung Group company that Samsung had planned to sell to another unit, objected on Thursday to what it said was a low sale price.

    Elliott’s move is an unusual glimpse of investor activism in a region where such campaigns are seldom seen and where they have met mixed results. Family or state shareholders wield control of some of the biggest public companies in Asia and often bristle at outsiders’ telling them how to run their businesses. (More …)

     
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