Thursday, 23 October 2014
Last updated 1 hour ago
Apr 23 2013 | 1:13pm ET
Institutional brokerage Weeden & Co. is moving into the hedge fund services business with the acquisition of prime broker Saxis Group.
New York-based Saxis will remain headed by founder Sohail Khalid. Terms of the deal were not disclosed.
"This acquisition underscores Weeden's strategic objective of investing in cutting-edge technologies and platforms that give our clients a competitive edge," Lance Lonergan, co-CEO of Greenwich, Conn.-based Weeden, said.
Four-year-old Saxon focuses on early-stage and emerging hedge fund managers, featuring a technology platform that offers risk analytics, customizable trading and asset allocation services to funds and family offices. The firm also offers fundraising and separately-managed account options.
Khalid said the merger was designed to make Saxis "the destination for any hedge fund looking to grow its business, grow its assets and make efficient use of technology."
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...