Wednesday, 1 October 2014
Last updated 9 hours ago
Aug 10 2012 | 2:08pm ET
Fidelity Capital Markets has launched a pricing tool that allows investors to compare and rank the performances and securities lending rates of a variety of prime brokers.
PB Optimize, as it’s called, is run by the firm’s own brokerage arm, Fidelity Prime Services and is the first tool of its kind to be offered by a prime broker.
Fidelity says the tool will help its hedge fund clients (at no additional charge) allocate their short portfolios among their prime brokers.
Thomas Tesauro, executive vice president of Fidelity Prime Services, said: “By sharing Fidelity’s lending rates alongside those of other prime brokers we are putting our clients and their investors first, empowering them to make more informed decisions. We expect this tool will ultimately drive market efficiency, benefiting hedge funds as well as investors.”
The PB Optimize tool provides managers with a broker scorecard, which allows clients to look at prime broker performance; a research tool to allow hedge fund clients to compare different securities; and cost analysis, which alerts clients to rate optimization opportunities across prime brokers, helping them to identify cost savings. The independent data on securities lending is provided by Markit.
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...