Thursday, 2 October 2014
Last updated 40 min ago
Feb 14 2013 | 12:53pm ET
Hedge funds that rely on Barclays to trade agricultural commodities will have to find a new partner.
The bank said Tuesday that it would stop trading soft and agricultural commodities with hedge funds as part of an overhaul designed to repair its battered image.
Barclays CEO Antony Jenkins said that the bank would stop speculative trading in such commodities for "reputational reasons." A source at the bank told Reuters that by "speculative," Jenkins meant exclusively hedge funds.
Barclays will continue to sell index-linked soft commodity and agricultural products.
In ending trading with hedge funds, Barclays joins a very small group of banks. Groups who complain that speculation in agricultural commodities drives up food prices and hurts poor countries, but to little effect. Commerzbank restricts trading in agricultural products, but Deutsche Bank last month ended a trading moratorium on agricultural derivatives.
At least one agricultural trader has left the firm as part of the restructuring, which will include at least 3,700 job cuts.
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...