Saturday, 30 August 2014
Last updated 1 day ago
Aug 3 2010 | 12:17pm ET
Broker dealer Lighthouse Financial Group, which includes prime brokerage unit Lighthouse Prime Services, has ceased trading, a source close to the firm tells FINalternatives.
The New York-based firm has reportedly been unable to make payroll for weeks, and today it informed clients that they could no longer place trades through the firm—they could only sell assets.
A different source close to the firm says that Lighthouse is in talks with a boutique firm that has eyes on becoming a much larger player and is making a bid for all of the divisions, and an announcement could come as early as this afternoon.
Lighthouse executives did not return calls by press time, and one hedge fund that does business with the firm declined to comment.
While Lighthouse Financial Group was founded in 1999, its prime brokerage unit wasn't launched until March of 2009. The unit caters to hedge funds and high-frequency traders, and it is thought to have between 25-35 hedge fund clients.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...