Wednesday, 24 December 2014
Last updated 11 hours ago
Nov 6 2013 | 10:35am ET
The U.S. Commodity Futures Trading Commission has sued AlphaMetrix, accusing the hedge-fund services firm of misappropriating $2.8 million.
The lawsuit stems from AlphaMetrix's failure to reinvest fee rebates due its commodity-pool participants. "Instead, AlphaMetrix transferred these funds from accounts held in the name of commodity pools that it operates into bank accounts held in AlphaMetrix's name," the CFTC alleges.
The CFTC is seeking an asset freeze. AlphaMetrix said last week it would begin closing its investment pools, after the National Futures Association ordered it to pay clients about $600,000 by the end of last week. Earlier in October, AlphaMetrix warned clients that it had "encountered significant cash-flow issues."
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.