Monday, 22 September 2014
Last updated 7 min ago
Jun 9 2014 | 10:47am ET
Citadel Investment Group’s effort to build a full-service investment bank sputtered several years ago. Now, the hedge fund firm’s brokerage business is expanding further into areas increasingly abandoned by banks.
Citadel Securities is making a foray into the swaps business with interest-rate derivatives. The move follows the firm’s foray into foreign-exchange trading services last month.
Chicago-based Citadel incorporated Citadel Securities Swap Dealer in March. At about the same time, it hired Credit Suisse’s Yanfeng Chen, who has worked on electronic swap-trading platforms and high-frequency trading systems.
“Trading is more efficient and electronic, and that is where we see great opportunity to serve more clients with more products,” Citadel execution-services chief Jamil Nazarali said.
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.