Day: 12 December 2018

FXTM Appoints Scott

Retail FX brokerage firm FXTM has appointed Nicholas Scott as head of product development. The firm says he will be responsible for leading the company in the research, management and delivery of its digital user experiences.
Scott has previously held roles in the marketing, strategy and product teams of several companies, including LMAX Exchange and Gain Capital. He joins FXTM following his time as senior director of digital investing at Gain.
FXTM says the establishment of a dedicated product development team with Scott at the helm “strategically positions the company for further expansion into 2019”.

Makor Group Adds Two to FX Business

Brokerage firm Makor/Oscar Gruss Group, which was formed by two former Cantor Fitzgerald Europe executives in 2011, has announced the hire of Tom Friedel and Matthew Lutz.
Both men will be based in New York and will, the firm says, shortly be followed by more to mark the opening of its US FX Desk, which will be based in both New York and Chicago. They will report to Michael Benitah, head of FX and FI at Makor/Oscar Gruss Group, and locally to Michael Halimi, CEO of Makor/Oscar Gruss Group

Tarbert Lined Up for CFTC Chair

Heath Tarbert is to be nominated by the US government to be the next chair of the Commodity Futures Trading Commission. His appointment is subject to Congressional approval, however he was appointed to his current role at the US Treasury by the US Senate with a huge majority and is expected to attract similar support.
Tarbert will take the reins of the US regulator from Christopher Giancarlo, who was appointed to the role in 2017 and is due to step down at the end of April 2019

Asset Managers See Technology as Key to Growth

A new study by State Street indicates that 68% of institutional investors are concerned about their ability to hit their growth objectives within the current market environment.
The survey also found that 72% of asset owners expect to adopt a more defensive investment strategy going forward and the same percentage of asset managers will slow their plans for expansion over the next five years.
State Street’s second Annual Growth Survey talks to more than 500 global asset managers, asset owners and insurance companies.

November Brings More Losses for CTAs

Following a difficult October, CTAs continued to face challenges in November as the SG CTA Index was down 1.09% and the SG Trend Index was down 1.75%. Year-to-date, the SG CTA Index is down 7.18%.

However, the SG Trend Indicator outperformed the Trend Index as it was up 2.51%. This was driven by gains in commodity markets especially from short positions in the energy sector.

Apart from the uplift in commodities, trend following strategies struggled in other sectors with losses in currencies and equities. There were strong reversals against established trends in particular in Australian and New Zealand dollar. Furthermore, trends in bond markets continued to be mixed, as the new upward momentum brought the recent downward trend to an end.

Analysts Steady on CME Forecast After NEX Acquisition

Equities analysts at UBS have issued a research report on the merger between CME Group and NEX Group, stating that while they are confident in the potential upsides to this deal, the benefits might not start to materialise for at least a year.

Having previously downgraded CME shares from “Buy” to “Neutral”, the UBS analysts Alex Kramm and John Goode decided to maintain the current rating, with an unchanged 12-month price target of $204 per share. At the time the report was issued, CME shares were trading at $189.51.

And Another Thing…

Today’s Irrational is very much based upon the ethos in which the accolades were imagined – in other words it’s based upon nothing more than its ability to irritate me. If we are being honest, this year has not been a vintage one for headlines – I don’t know if it’s me but I sense the world is getting worn down by the constant bickering amongst politicians, most of whom turn to (at best) half truths when challenged. Throw in an increasing wariness of publicly stating anything humorous for fear of upsetting someone (which is very easy to do, another facet of today’s world seems to be extreme sensitivity) and the quality of headlines we saw just a year or two ago have gone missing.

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