Sunday, 23 November 2014
Last updated 2 days ago
Aug 26 2009 | 12:58pm ET
Citadel Investment Group has filed a claim against Lehman Brothers Holdings, arguing that the collapsed investment bank owes as much as $470.5 million.
The Chicago-based alternative investments giant made its move in U.S. Bankruptcy Court in New York last month, ahead of an Oct. 22 deadline for parties to submit proof of claims against Lehman. According to Citadel, its Citadel Equity Fund had derivative contracts with Lehman when it collapsed. The firm is seeking the value of the derivatives contracts, off-set by the collateral held when the bank collapsed, as well as the cost to replace the trades.
In its filing, Citadel said its claim was partly based on guarantees, although it did not elaborate.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...