Wednesday, 1 October 2014
Last updated 12 hours ago
Oct 22 2013 | 12:56pm ET
Hedge fund services firm AlphaMetrix has been ordered to pay its clients about $600,000 by the end of next week, or face serious consequences.
The National Futures Association yesterday said that the firm was in violation of its rules after failing to reinvest the fee rebates in question. AlphaMetrix said earlier this month that it had to delay those payments due to "significant cash-flow issues."
The NFA has barred AlphaMetrix from taking in new investments, and said that if AlphaMetrix fails to pay out the rebates by Nov. 1, it would be barred from placing any trades other than those liquidating existing positions.
"The firm had deducted advisory fees for certain participants in commodity pools operated by the firm," the NFA wrote in its member responsibility action. "Those fees were to be reinvested in the pools but were not."
"AlphaMetrix has and will continue to cooperate with the NFA," the firm said.
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…
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