Thursday, 2 October 2014
Last updated 15 hours ago
Jan 4 2012 | 11:10am ET
Hedge funds aren't used to pushing for tighter regulation. But that's exactly what Och-Ziff Capital Management is doing as the Commodity Futures Trading Commission considers new collateral rules for swaps.
The New York-based hedge fund giant wants the CFTC to add additional protections for brokerage customers to the rule, which is required by the Dodd-Frank financial regulation reform act and could be adopted on Jan. 11.
According to Och-Ziff, the CFTC rule as written doesn't adequately protect clients when brokers fail to keep adequate records. The hedge fund asked the CFTC to allow swap buyers to have their collateral completely segregated from a broker's commingled funds.
The CFTC's five commissioners are likely to throw Och-Ziff and others, such as Fidelity Investments and State Street Corp., a sop, raising the possibility that future measures could give further protections, Bloomberg News reports.
The issue before the CFTC gained greater urgency—and, in the eyes of Och-Ziff and its allies, a need for more teeth—in the wake of the collapse of MF Global last year. Some $1.2 billion in client funds were found to missing when the broker filed for bankruptcy.
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...