Day: August 21, 2018

CFTC Welcomes Formation of Crypto Association

CFTC Commissioner Brian Quintenz has welcomed the formation of an industry trade association for cryptocurrency traders.
The Virtual Commodity Association (VCA) has formed a working group and will hold its inaugural meeting in September. It says the meeting will consider guidelines for membership as well as for best practices and rules-based marketplaces that will promote fairness, transparency, risk management, and liquidity.
It will further discuss best practice guidelines that will address member conflicts of interest, client communications, client disclosures, and record keeping; as well as the staffing needs of the association, including an executive director and compositon of the board of directors.

Hedge Fund Redemptions at 20 Month High

Redemptions from hedge funds hit a 20-month high in June, according to the Barclay Fund Flow Indicator, as the financial markets weighed the risks of trade disputes and rising interest rates. Industry assets remained at $3.0 trillion, however, the firm says.
Data drawn from more than 5,000 hedge funds in the BarclayHedge database estimated that the hedge fund industry (excluding CTAs) gave up $8.9 billion (-0.3% of assets) in June, reversing inflows of $4.0 billion (0.1% of assets) the month before. June marked the largest outflow since October 2016.