News
(The Full FX)
With just over one month to go until North America switches to T+1 settlement in its securities markets, new data released by infrastructure provider DTCC shows that progress is barely advancing and that the industry still has much work to do.
(The Trade)
Two heads of trading desk invited to speak on stage at TradeTech 2024 were posed with a bombshell question at the end of their panel – whether or not outsourcing the trading desk achieves the same outcomes as keeping trading inhouse. One speaker – who confirmed their firm’s trading desk setup and flow lends itself more to high touch trading – focused their answer on alpha retention.
(Investment News)
The banking behemoth is transferring its automated investing business to Betterment as it refocuses on its Wall Street operations.
(Funds Europe)
Hedge funds kicked off 2024 with their “best quarter since the pandemic”, according to data from the Citco group of companies. Equity and multi-strategy funds led the charge, with a weighted average return of 7.3% across all strategies, building on 2023’s momentum. Equity funds topped the charts at 8.49%, followed by multi-strategy at 7.59% and event-driven at 4.03%. Other strategies like fixed income arbitrage, commodities and global macro also posted positive returns.
(Financial Times)
The New York Stock Exchange is polling market participants on the merits of trading stocks around the clock as regulators scrutinise an application for the first 24/7 bourse. The survey by the NYSE, part of Intercontinental Exchange, was put out by its data analytics team rather than its management, but it highlights the growing interest in trading the likes of Nvidia or Apple overnight between 8pm and 4am Eastern time.
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Liquidnet expands equities services offering
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Welcome to the dark side
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After Kicking Off Mutual-Fund Era, MFS Plans ETF Foray
(Bloomberg)($)
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Marex Group, Shareholders Seek Up to $323 Million in US IPO
(Bloomberg)($)
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Barclays, Goldman Sachs, Jefferies to lead Marex’s New York IPO
(Financial News)($)
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A Slimmer Goldman Sachs Posts Hefty Jump in Profit
(New York Times)($)
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Opinion: Why Everyone in Finance Is Getting Ripped
(Bloomberg)($)
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ON THE MOVE: BIDS Trading Hires Brian Hickey; Alex Grinfeld Joins Liquidnet
(Traders Magazine)
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Citi’s 7,000 laid off staff were paid an average of $214k each
(efinancial careers)
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Interactive Brokers Adds High Touch Prime Brokerage, Outsourced Trading
(Traders Magazine)
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Tag, not it! First mover hesitancy for research rebundling
(Best Execution)
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The highest paying investment banks in the world, ranked
(efinancial careers)
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There Is a Relationship Between Past Success and Future Returns After All
(Institutional Investor)
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Macro Stars as Hedge Funds Extend Good Run
(The Full FX)
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Global dominance of biggest stocks rises to highest in decades
(Financial Times)
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