Thursday, 2 October 2014
Last updated 25 min ago
Jan 12 2007 | 12:18pm ET
London-based hedge fund The Children’s Investment Fund has begun slashing its stake in pan-European exchange operator Euronext as the latter moves closer to its day at the altar with the New York Stock Exchange.
According to France’s Autorité des Marchés Financiers, TCI sold €134 million ($175 million) worth of Euronext stock between Tuesday and yesterday, trimming its stake from 9.2% to 8%. According to Reuters, investors expect TCI to cut its Euronext holding even further.
TCI was a long-standing advocate of a merger between Euronext and Germany’s Deutsche Börse, and led the successful ouster of Deutsche Börse CEO Werner Seifert, who sought to buy the London Stock Exchange. But the merger between the NYSE Group and Euronext is now all but a foregone conclusion.
Last month, more than 98% of Euronext shareholders voting at a general meeting approved the tie-up, and yesterday the Euronext College of Regulators, including authorities in France, the Netherlands, Belgium, Portugal and the U.K., gave its approval. The merger still requires the approval of the Dutch government, as Euronext, which operates exchanges in Paris, Amsterdam, Brussels, Lisbon and London, is incorporated in the Netherlands.
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...