Wednesday, 1 October 2014
Last updated 9 hours ago
Nov 26 2013 | 12:39pm ET
Former hedge fund manager Daniel Shak has been barred from oil-trading as part of a settlement with the Commodity Futures Trading Commission.
The SHK Asset Management founder, who is now better known as a professional poker player and for his divorce battle, was fined $400,000 for "banging the close" on oil futures in 2008. The CFTC said the move, over two days, was an effort to manipulate the markets and also violated New York Mercantile Exchange position limits.
In addition to the fine, Shak has been barred for life from trading in regulated crude-oil markets and received a two-year ban on trading "naked futures."
Shak shut SHK nearly three years ago, in a move that roiled gold markets.
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...