Monday, 22 September 2014
Last updated 2 days ago
Aug 30 2013 | 10:15am ET
The more shares a hedge fund trades, the more interested it is in how those shares are traded, a new survey shows.
Hedge funds that trade more than a million shares a day want more information about the algorithms used by their brokers, according to the Tabb Group poll. Some 79% of such firms question their brokers about those algorithms, compared to just half of hedge funds trading less.
Three-quarters of the larger hedge funds find the information provided in response to their queries helpful. Just 36% of the smaller hedge funds concurred.
"Given the myriad idiosyncrasies from one broker's algo to the next, the task of understanding the core logic and capabilities of a given algo has never been more challenging," Adam Sussman and Colby Jenkins, who wrote the Tabb report, said.
Tabb also polled hedge funds about their favored algorithm providers, finding Credit Suisse, Morgan Stanley, Goldman Sachs, Bank of America Merrill Lynch and JPMorgan Chase top the list.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.