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News & Commentary
Content tagged with Asset Management posted in March 2012
Former Goldman Sachs Exec Will Write Tell-All Book
Commentary  |  3/30/2012  | 
Bashing a bank can be big business, of course.
MarketAxess Research Introduces TCA for Fixed Income
News  |  3/30/2012  | 
The electronic trading platform's research arm is offering a proprietary method for analyzing and reducing transaction cost in less liquid corporate bond markets.
Top Quotes of the Week
Slideshows  |  3/29/2012  | 
What a week! Europe double dips, hedge fund managers have big egos, MF Global pleads the Fifth, and everybody is leaving Goldman Sachs. Advanced Trading gathered up the funniest and the most revealing quotes from the capital markets thought leaders. There's a lot of bad news out there, but there are some bright spots. Enjoy.
Institutions Failing Commodity Investors
News  |  3/29/2012  | 
Financial institutions offering commodity investments during this once-in-a-generation demand boom are failing on two levels: they are not attracting the money they should and they haven't realised that Asia is the future.
Are Google and Facebook Stealing Future Quant Stars?
News  |  3/28/2012  | 
Following the financial crisis, the Occupy Wall Street protests and the rise of social media companies, some worry that Wall Street has lost its ability to attract the best IT talent.
Hedge Fund Trading Desks Are Just Window Dressing
Commentary  |  3/28/2012  | 
Thanks to algorithms, quants and high-frequency trading there's no need to have a fleet of trading desks. Having traders stare at screens all day is just for pumping up the ego of the hedge fund owner, says George Michaels of G2 Systems.
Meet the Next-Generation Trader
News  |  3/28/2012  | 
Thanks to electronic markets, high-speed trading and intelligent algorithms, today's buy-side trader must evolve to survive.
Are the Buy-Side Trader's Days Numbered?
Commentary  |  3/28/2012  | 
As the rise of black-box trading has transformed the industry, buy-side traders have had a tough time reinventing themselves. But even in the Age of Algos, there is still plenty of value for the buy-side trader to add.
New Leaders for Goldman Sachs?
News  |  3/28/2012  | 
Senior executives within Goldman Sachs have talked about splitting the roles of chief executive officer and chairman, two sources said, although pressure for any imminent move appears to have eased after a deal with a labor union pension fund.
BATS IPO Business Still Open
News  |  3/27/2012  | 
After a humiliating meltdown when its own initial public offering had to be withdrawn, the exchange operator will continues with its IPO listing business nevertheless.
Hedge Funds See Profits After Hot Q1
News  |  3/27/2012  | 
Hedge funds are cashing in some of their chips after enjoying a bumper first quarter, wary that a sudden change in market sentiment could see them take the sort of losses suffered in last year's volatile markets.
Algo Trading, HFT Wreaking Havoc on Commodities
Commentary  |  3/27/2012  | 
Recent research showing a big jump in correlation between commodity and equity markets and among commodities themselves, over short periods from a second to an hour, has unleashed fresh bad tempered debate about whether "speculators" - especially high-frequency traders - are distorting commodity prices.
JP Morgan Launches Alternative Investment Reporting Portal
News  |  3/27/2012  | 
The launch comes on the shoulders of increased regulation coupled with expanding investor and portfolio demands for secure, real-time information, according to JP Morgan.
In the Search for Alpha, It's a Quant's World
Commentary  |  3/22/2012  | 
The complexities of the buy-side trading decision require an entirely new set of quantitative and analytical skills, says Tabb Group's Laurie Berke.
Does Every Buy-Side Trader Need To Be a Quant?
News  |  3/21/2012  | 
The buy-side trader has come a long way since the days of order forms and fax machines. How has their role changed in this age of algorithmic trading and speedy networks? Advanced Trading interviewed Tim Grant, managing director of fixed income technology provider Benchmark Solutions for his two cents.
Academic's Twitter Model Predicts Stock Returns
Commentary  |  3/21/2012  | 
A professor at the Unversity of California has developed a model based on discovering patterns in Twitter, suggesting that mining social media feeds can pay off.
Ask a Quant Headhunter
News  |  3/21/2012  | 
After placing traders in investment firms for 25 years, Lou Ricci has seen booms and busts. As partner and co-founder of The Hagan-Ricci Group, a trading headhunting firm with offices in Armonk, NY, Ricci shares his insight on today's job market, the skills traders need these days and if quants are drooling over Google and not Goldman Sachs.
Volcker Backs Contentious Auditor Rotation Idea
News  |  3/21/2012  | 
Former Federal Reserve Chairman Paul Volcker supports a controversial term-limit proposal for audit firms, a rule aimed at preventing them from becoming complacent over time and less willing to question senior management.
Bank of America Merrill Lynch Launches New Electronic Platform
News  |  3/20/2012  | 
Trade Pro will be available through CashPro Online, the bank’s treasury management and online banking channel for corporate and institutional clients.
The Attraction of OTC Clearing
Commentary  |  3/20/2012  | 
Despite all the noise and hoopla, market participants seem to be huddled together at the top of the diving board waiting for someone else to take the plunge first.
Jefferies Q1 Profit Drops
News  |  3/20/2012  | 
Jefferies Group reported lower first-quarter earnings on Tuesday due to higher costs and a loss in its managed funds business.
Knight Unveils Enhanced Sumo Algo
News  |  3/19/2012  | 
New trading formula uses size discovery and signal-based trading to protect against high-frequency trading firms.
Bloomberg Visits Tarnished Goldman Sachs
Commentary  |  3/16/2012  | 
You know it's been a bad week when the mayor of New York City and the man whose name appears on their market data terminals has to stop by the office to cheer everyone up.
What Are Goldman Sachs' Clients Saying?
News  |  3/16/2012  | 
Who cares what one former employee said in a very public resignation letter? How are Goldman's clients reacting?
Smartleaf Launches Portal for Model Vendors
News  |  3/15/2012  | 
Along with the portal, Smartleaf is offering a Model Distribution Service (MDS), to create a marketplace for the sale and purchase of model portfolios.
Citigroup Failure in Fed Test Raises Questions
News  |  3/15/2012  | 
Citigroup still plans to reward shareholders, as Wall Street analysts suggest the bank was too aggressive.
Q&A: Beware a Tax On Cancelled HFT Orders
News  |  3/15/2012  | 
As the SEC ponders how to slow down the furious pace of high frequency trading, different ideas have come to light. Advanced Trading spoke with Michael Jenkins, partner in the financial services and strategy practices of A.T. Kearney. Portions of this interview appeared in our March 2012 cover story Slow Down, Algo Trader.
Lose-Lose for Pension Funds as Deficit Grows
News  |  3/15/2012  | 
This year's surge in equities and other risky assets has been a relief for investors under pressure to boost returns after a dire 2011, but pension funds seem trapped in a low-yield world, aggravating their battle with demographic trends.
Funniest Web Reactions To Goldman Sachs Exec’s Very Public Resignation
Commentary  |  3/14/2012  | 
Greg Smith's criticism that the investment bank puts money and profits before clients’ interests has spawned web reactions ranging from eye rolls to virtual pats on the back.
Fed Gives High Marks in Bank Stress Tests
News  |  3/14/2012  | 
The Fed says 15 of 19 big banks has strong capital positions after the test, with Citigroup and MetLife being surprise failures.
The New Trader: Adapt or Die
Commentary  |  3/13/2012  | 
As algos and high-speed networks do the heavy lifting during the trading day, what does the Buy Side Trader do all day? While interviewing sources for the April 2012 cover story Meet the New Trader -- to be posted shortly -- Megan Costello, director of North America Client Services of Fidessa, shared her thoughts.
Citigroup Could Be Surprise Winner in Bank Stress Tests
News  |  3/12/2012  | 
Citigroup may receive permission to increase its quarterly dividend, something that shareholders have been waiting for since the payout was slashed following a series of bailouts.
Dodd Frank Confusion Reigns on Buy Side — Study
News  |  3/12/2012  | 
While sell side firms are investing heavily due to Dodd Frank, a new study finds that buy side firms are confused about clearing deadlines and favor Bloomberg as the execution venue of choice.
Investors Back Hedge Funds as Performance Rebounds
News  |  3/12/2012  | 
According to the GlobeOp Capital Movement Index, net inflows into hedge funds,were 2.1 percent of total assets over the month to March 1.
Clerical Error Foiled Hedge Fund Octavian's Balda Battle
News  |  3/12/2012  | 
Octavian Advisors said a clerical error prevented the $1 billion New York hedge fund from backing its own move last month to oust the board of German medical and electronics products maker Balda AG.
A Former SEC Enforcer On Slowing Down HFT
News  |  3/12/2012  | 
After years of trading near the speed of light can regulators realistically place a speed limit on high frequency trading? Mark Fickes, a former attorney for the SEC enforcement division and currently with BraunHegey & Borden of San Francisco, weighs in.
Buy Side Admits to Weaknesses in Current Accounting Systems
News  |  3/9/2012  | 
More than 56 percent of buy-side repondents said they are not confident in their accounting systems, while recognizing that positiions should be centralized a single accounting system, according to a SimCorp poll.
US Exchanges to High-Frequency Traders: Slow Down!
Commentary  |  3/8/2012  | 
Not only are the SEC and a few pols pointing their radar guns at HFT firms, exchanges have them in their sights and the fast times might be over.
Buy Side Expands Use of Algos In Futures Trading: Study
News  |  3/6/2012  | 
Firms are opting for electronic trading tools for futures trading with volumes on the upswing, according a Tabb Group study.
Alternative Venues Play Waiting Game in Japan
Commentary  |  3/6/2012  | 
ITG Rings New Dynamic Open Algo
News  |  3/6/2012  | 
Fidelity Launches Mobile Deposit iPad App for IRAs
News  |  3/2/2012  | 
The broker updated its iPad app so that investors can make 2011 contributions to their IRAs in time for the April 17th deadline.
Tradar Releases iPad App for Portfolio Reporting
News  |  3/1/2012  | 
Tradar teamed with Nedelma, a data aggegation and mobile reporting company, to provide asset values and detailed portfolio views on-the-go.

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