Thursday, 2 October 2014
Last updated 56 min ago
Nov 22 2010 | 9:34am ET
Bank of America Merrill Lynch's prime brokerage has launched a pair of Chinese yuan services designed to capitalize on growing hedge fund demand in the region.
The firm has begun accepting deposits of yuan and/or yuan-denominated securities. The former will allow hedge funds to create yuan-denominated share classes, while the latter custody accounts will make it easier for hedge funds to buy (and borrow against) yuan-settled instruments.
"Large international hedge funds used to use non-deliverable yuan forward contracts to make such bets," Merrill's Ben Williams told Bloomberg News. "These new services allow them to make the same bets through the potentially cheaper offshore yuan market."
He added, "given investor demand and the increasing focus on China, we're likely to see the development of yuan share classes among both regional and global hedge funds."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...