News
(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.
(The Trade)
BMO Capital Markets managing director and co-head of electronic trading has left the bank, The TRADE can reveal. Wald is departing after four years in his most recent role, according to an update on his social media. “After 10 years as co-founder of Clearpool and MD at BMO, I have decided to take some time away from electronic trading. It has been an amazing journey,” said Wald in an update.
(Global Trading)
Liquidnet has expanded its equities workflows and services offering with SuperBlock, a suite it states will provide simpler participation in exceptionally large or illiquid block trades.
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