Day: 16 August 2017

In the FICC of it – Cryptocurrencies: Watch This Space

As P&L’s resident cryptocurrency enthusiast I’m excited by some of the developments that have occurred in this space over the past few months, because it could signal the start of these digital assets moving towards the financial mainstream.

To help explain why I think this is such an interesting time in the cryptocurrency space, I explain how I first became interested in them after joining Profit & Loss, that I refused to buy bitcoin when it was at $1,000 because “it will never go higher than this” (it’s now at $4,300) and why recent regulatory developments could have significant implications for financial services firms looking at trading cryptocurrencies.

Hedge Funds Cutting Fees: BarclayHedge Survey

A BarclayHedge survey of 134 hedge fund managers in July has revealed that 36.6% of survey respondents currently offer reduced or no fee alternatives to their investors and a further 20% plan to offer lower or no fee products in the next three-to-six months.
“The hedge fund industry has been under pressure to offer lower fee alternatives for some time,” says Sol Waksman, founder and president at BarclayHedge. “We expect that these pressures will continue and that low or no fee products will continue to grow.”

CLS to Host Public Register for FX Global Code

CLS Group has thrown its hat in the ring to host a public register listing those firms that have signed the Statement of Commitment to the FX Global Code. Profit & Loss understands other regional or national initiatives are also underway, however CLS is believed to be leading the push for a global register, in spite of it apparently limiting the initiative to CLS members. The commitment process was initially expected to take six-to-12 months, however firms are already signing up.

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