Month: March 2005

A Balancing Act: Building the Tools to Survive

  An unsung benefit from the inexorable march of e-FX has been better information on how clients are doing their business. This in turn, has meant that banks have been able to react better to client needs, mainly on the advisory side of the relationship. Now, though, as Colin Lambert discovers, the banks are reacting […]

Penson Launches NA Trading Capability

Penson Financial Services Canada, a provider of execution, clearing, custody and settlement services for the securities market, has launched an online, hosted FX trading system, Penson FX, across Canada and the US. The company says the platform is aimed at traders within brokerage and investment management firms and gives users real-time access to competitive live […]

Invest Indices Rise

Calculated monthly, the returns for the CSFB/Tremont Sector Invest Indices show a positive outcome for the Sector Invest Dedicated Short Bias up 5.26% for January 2005.   Meanwhile, Sector Invest Managed Futures is down an estimated 5.73% for the same month.   Having also suffered moderate losses, Sector Invest Convertible Arbitrage is down 0.65% and […]

Investable Index Also Down

For the month of January the Investable Hedge Fund is down an estimated 0.64%. The confirmed performance for December is up 1.07% net.   Again, Investable Dedicated Short Bias is up 4.86% while Investable Managed Futures is down 5.88%. The Investable Convertible Arbitrage sub-strategy fell 0.46%, Investable Event Driven by 0.26%, Investable Long/Short Equity 0.11% […]

GIC Takes GL Settle

GL Settle, a division of GL Trade, announced that the Government of Singapore Investment Corporation (GIC) has implemented GL Rims, the company’s back office securities settlement system, to handle electronic trade confirmation and messaging via Swift for various instruments.   GIC is a global investment management company established in 1981 to manage Singapore’s foreign reserves. […]

SEC Moves on Northshore

Following its investigation into allegations of missing money at New York-based hedge fund, Ardent Capital, the US Securities and Exchange Commission (SEC) has filed an emergency enforcement action to halt an alleged fraud by Northshore Asset Management (Northshore) and its three principals, concerning their alleged misappropriation of assets of two hedge funds, Ardent Research Partners […]

FX Concepts Launches New Fund

New York-based currency manager, FX Concepts, is launching a new fund based on its FX Volatility Programme, which is an outgrowth of two specific non-directional strategies that FX Concepts has been operating since March 2002. The first is the options component of the Developed Market Currency (DMC) programme ($900 million assets under management) and the […]

CSFB/Tremont Hedge Fund Index Down In January

The CSFB/Tremont Hedge Fund Index fell 0.34% for January 2005, says Oliver Schupp, president of Credit Suisse First Boston Tremont Index.   “Dedicated short bias managers generally reported very strong returns as US equity market indices declined,” says Schupp. “Asia also experienced several broad market declines, but the European market environment was positive for the […]

Mellon Buys DPM

The Asset Servicing Group of Mellon Financial Corporation has agreed to acquire DPM, a New Jersey-based hedge fund administrator that oversees $30 billion in assets for 91 clients, providing services including middle and back office outsourcing and transparency services. The deal, terms for which were not disclosed, is expected to close by the end of […]

Macedonia Boost for ACI Education

ACI’s education programme has been recognised by a decision from the central bank in Macedonia that requires banks in the local market to hire dealers with a professional qualification.   At its November 25 council meeting, the National Bank of the Republic of Macedonia discussed its monetary and supervisory responsibilities and under the latter it […]