Hedge Fund Performance Expected To Climb In 2013
2/6/2013An improved housing market and global markets awash in liquidity are expected to be the key drivers in better hedge fund performance.
Profile of Justin Grant
Senior Editor Blog Posts: 632As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest innovations in electronic trading, to how new regulations will impact hedge funds and traditional asset managers. He has also written extensively about high-frequency trading, exchanges, and dark pools. Following his graduation from Long Island University in 2006, Grant also worked as a reporter at Reuters, and as a member of ABC News' Investigative Unit.
Articles by Justin Grant
An improved housing market and global markets awash in liquidity are expected to be the key drivers in better hedge fund performance.
Q&A: State of the Hedge Fund Industry in 2013
1/4/2013Are outsized returns a thing of the past for hedge funds?
Numerix Updates Trade Capture App 'Portfolio' with Curve Modeling
1/2/2013The firm says the update will enable more accurate valuations for the mitigation of counterparty risk.
Costs, Investor Confidence Among Biggest Obstacles for Boutique Asset Managers
12/20/2012According to a SunGard survey, boutique asset managers are looking to technology to help meet growth challenges and satisfy increased demands.
BofA Merrill Adds Electronic Options to Commission Management Platform
12/10/2012The firm say the move was made in response to growing demand from its institutional clients.
Progress Software Predicts PR Offensive By HFTs in 2013
12/7/2012The firm also predicts London will become a hot market for investors looking to escape tight regulations, and that algorithmic "hall monitors" will be a force.
Soft Dollars May Put Buy Side At Odds With Investors: Report
11/29/2012The use of soft dollars may prevent investors from getting the full benefit of everything they're paying for, according to Woodbine Associates.
New ITG Algo Takes Aim at Customization, Liquidity Sourcing
11/28/2012The broker says its latest algorithm will help the buy side take a more strategic approach to sourcing liquidity.
SEC Chairman Schapiro to Step Down Dec. 14
11/26/2012Schapiro departs an SEC that’s better equipped to oversee an increasingly complex marketplace.
Fidessa Teams With Thomson Reuters on Buy-Side Liquidity Sourcing
11/26/2012The firm says the Autex platform opens up access to sources of block liquidity, helping the buy side navigate a highly fragmented marketplace.
Knight Capital Sets the Record Straight on Algo Testing
11/21/2012With more attention on how trading algorithms are tested following the August software mishap, Knight Capital's Brendan McCarthy opens up about the firm's vetting procedures.
Goldman’s Blankfein Says Entitlements Must Be Slowed, Contained
11/20/2012Goldman Sachs’ CEO says the deficit cannot be fixed without changes to Social Security, Medicare and Medicaid.
Stephen Colbert Takes on HFT
11/15/2012Stephen Colbert says the finance sector is safer now because Wall Street has removed the weakest link: man.
Credit Suisse Providing FX Options Quotes To New Bloomberg Platform
11/15/2012The announcement comes as Bloomberg rolls out new FX options trading technology.
Lightspeed Muscles In On Options Market With New Platform
11/14/2012As so many traders struggle to make money in the current equities landscape, Lightspeed makes a play for the options market with its latest trading platform.
No Link Between High-Frequency Trading and Market Abuse: Study
11/12/2012After combing through five years of data spanning 2006 to 2011, Sydney-based Capital Markets Cooperative Research Center says there's no link between HFTs and market abuse.
SEC Charges Hedge Fund With Hiding Mortgage-Backed Securities Losses
11/9/2012The regulator says pension fund investors were among those burned by Commonwealth Advisors' fraudulent scheme.
Weathering Sandy: How Wall Street Got Through The Hurricane
11/6/2012IT people working around the clock, strategically placed generators, and backup offices all proved critical to disaster preparedness.
Broker Says Nasdaq Caused Excessive Quote Spam in Several Stocks
11/2/2012Nasdaq rebuts charge from Themis Trading that its new pricing programs led to quote spamming.
ITG's POSIT Match Takes Aim at Fragmentation, Liquidity
11/1/2012The firm says its latest offering looks to solve the problem of temporal fragmentation and expensive liquidity at an important time in the trading day.
Exchanges Plan to Resume Trading Wednesday
10/30/2012As New York struggles to recover from a historic storm, the nation's stock exchanges plan to reopen on Wednesday.
Despite Recent Struggles, HFTs Still Have the Advantage
10/26/2012Although high-frequency trading has wobbled a bit in the wake of weak U.S. equity trading volumes, industry consultant Haim Bodek argues on TabbForum that the market's structure remains tilted in their favor.
Wedbush Securities Adds Former Nomura Director to Equity Trading Team
10/23/2012The firm said Ian Winer will manage all aspects of its equities division.
As Large Hedge Funds Become Institutionalized, Rich Investors Should Go Small
10/22/2012With larger hedge funds becoming more conservative since they're now catering to institutional investors, rich individuals should now consider smaller funds for better returns.
HFTs Benefit Individual Investors, Vanguard CIO Tells CNBC
10/19/2012Vanguard's Gus Sauter tells CNBC that high-frequency trading lowers costs for individual investors.
High-Frequency Trading a Game-Changer for the Natural Gas Market
10/19/2012Fierce HFT competition has narrowed spreads to virtually nothing in equities, so traders are looking for markets with fatter margins, which makes the commodities markets attractive.
Latest PDQ Trading Algorithms Take Aim at Costs, Speed
10/18/2012In a low volume equity trading environment, PDQ says its new algos will help retail and institutional investors cut costs and speed up their executions.
GETCO Expands Algorithmic Trading Tools For Institutional Investors
10/16/2012The firm said its GETAlpha algorithmic trading tools now include six new strategies.
Mortgage-Backed Securities Once Again A Good Bet for Hedge Funds, Asset Managers
10/12/2012With the U.S. housing market appearing to have turned the corner, along with the Fed planning to buy mortgage bonds every month, the outlook for mortgage-backed securities appears bright.
SEC Fines Boston-Based Dark Pool For Not Protecting User Info
10/3/2012The regulator said eBX LLC improperly shared its subscribers' unexecuted orders with an outside technology firm.
To Survive, Derivatives Market Must Change Dramatically: Report
10/3/2012Tabb Group's Adam Sussman says the derivatives market has to change more than what's being required under the new regulations.
Sheila Bair's Book Heaps Fresh Stains on John Thain's Reputation
9/28/2012As Hank Paulson prepared to dole out bailout funds to stabilize the nation's financial system, John Thain's biggest concern was how taking government money would impact CEO pay, according to former FDIC head Sheila Bair's new book.
Buy Side Leans Towards Human-Driven, Alternative Trading Models
9/27/2012Although more buy-side firms than not want to boost their use of automated trading in the next year, a survey by MathWorks shows nearly a third have taken the opposing view.
Non-Correlated Assets Are Best Way to Temper Volatility: Survey
9/26/2012Institutional investors say the old rules of investing no longer apply post-2008, and that global regulatory reform is a burdensome worry, according to a survey by Natixis Global Asset Management.
Scranton, San Jose Show How Mainstream Hedge Funds Have Become
9/26/2012One city is looking for a loan and the other is looking to boost returns, but both cases indicate that hedge funds have moved from an alternative into the mainstream.
Enclave Capital Aims to Boost International Desk with New Trading Head
9/25/2012The brokerage, which provides algorithms to New York Stock Exchange floor traders, appointed Harold Warren head of trading and managing director.
Hedge Fund MST Capital Turns to TradingScreen's EMS, TCA
9/24/2012The firm will deploy the platforms to execute electronic trades across various asset classes.
Two Months After Staggering Loss, Knight Capital Hunts for New CTO
9/21/2012In a series of moves aimed at preventing a repeat of its $440 million trading error, Knight Capital says Steven Sadoff is no longer overseeing its technology.
Woodbine Report Hits Back at Dark Pool Critics
9/19/2012Woodbine sheds light on the opaque world of dark pools in a 111-page report, and says many of the usual criticisms of these venues are without merit.
Bloomberg, BIDS Trading, Team On U.S. Liquidity Capture Service
9/19/2012The firms announce the start of an alliance that will create a deep liquidity pool in market that's been plagued by fragmentation.
NYSE's Fine for Unfair Data Feeds Another Blow to Market Confidence
9/17/2012With trading volumes near historic lows in the equity markets, the SEC's decision to fine NYSE $5 million for improper market data feeds gives investors even more reason to stay away.
CTO On Apple's iPhone: No, Thanks.
9/14/2012In the week that Apple unveiled the new iPhone 5, one trading company's CTO isn't among the impressed.
SEC Fines NYSE $5 Million for Improper Market Data Distribution
9/14/2012The regulator said the exchange operator improperly fed market data to certain customers before sending it out to the public.
Miller Tabak Consolidates Trading Infrastructure With Fidessa
9/12/2012The institutional trading firm said the Fidessa platform will help rein in costs, which is a growing concern for broker-dealers amid new regulations and rising market fragmentation.
SEC Pushes Market Technology Roundtable to Oct. 2
9/12/2012In the aftermath of several high-profile technological mishaps in the marketplace, the SEC's roundtable next month will seek ways to prevent costly trading mistakes, and come up with best practices for handling crises in real-time.
Buy Side Takes Harder Look at Broker Algorithms After Knight Debacle
9/11/2012Before Knight Capital, the buy side may have taken the safety of broker tools for granted. But now buy-side firms are taking matters into their own hands and demanding more transparency.
ConvergEx Looking to Sell Eze Castle OMS, RealTick EMS: Report
9/11/2012The institutional brokerage could fetch up to $1 billion by selling both platforms, although it's unclear how much demand there will be for RealTick given the trading slowdown, according to Traders Magazine.
Invesco Turns to OneTick to Beef Up TCA, Alpha Generation Models
9/11/2012The investment manager says the move will provide better context around every transaction, and help its traders sharpen their strategies quicker than what's possible with only third-party analysis.
Q&A: Why More Long-Only Asset Managers Now Require Custom TCA
9/7/2012OneMarketData's Richard Chmiel breaks down the biggest challenges traders face with their executions, and why Invesco opted to deploy the OneTick system.
As Dark Pools Grow, ASX Fights To Keep Public Exchanges Relevant
9/6/2012ASX CEO Elmer Funke Kupper says the growth of dark pools is hurting Australia's largest public exchange, and without stronger regulations, remains a threat to lit markets around the world.
Amid Weak Returns, Hedge Funds Take Aim at Risk Management
9/5/2012As hedge funds fight their way through a second weak year in a row, a study by BNY Mellon, the Managed Funds Association and HedgeMark says the industry is putting risk management under the spotlight.
Europe Still Holds an Allure to U.S. Asset Managers
8/31/2012Despite seemingly bad news about the Eurozone every day, a surprising number of large U.S. asset managers are still attracted to a continent that accounts for 35 percent of the world's mutual fund assets.
SEC Tech Roundtable Takes Aim at Preventing Knight Sequels
8/30/2012In the aftermath of several high-profile technological mishaps in the marketplace, the SEC's roundtable next month will seek ways to prevent costly trading mistakes, and come up with best practices for handling crises in real-time.
Hedge Fund Assets Climbed During First Half of 2012: Study
8/28/2012PerTrac says investors are showing more interest in alternative investments, and a growing tendency to invest directly in hedge funds.
Today's Market Structure Obscuring Real Value of Equities
8/27/2012In a piece published by Tabb Forum, ConvergEx Group's Nicholas Colas says the current market structure means CEOs and their boards should no longer make their company's stock price the central fixture of their corporate strategy.
Looking at the Ins and Outs of Volatility Trading: Opalesque
8/27/2012In a video interview with Opalesque TV, Maple Leaf trader Michael Wexler breaks down the ins and outs of volatility trading.
Knight Capital's Rogue Algorithm a Wake-Up Call to the Buy Side
8/24/2012A head trader at a firm with more than $200 billion under management tells Advanced Trading that the buy side generally puts a lot of blind faith in the tools provided by their brokers, almost to the point of complacency.
Goldman Tells Clients to Bail Out of Equities As Fiscal Cliff Looms
8/23/2012The bank's chief U.S. equity strategist says stocks are due to plunge with Congress unlikely to address the fiscal cliff before Election Day.
Buy-Side Order Management In Focus After Knight Capital Error
8/10/2012The latest technological hiccup on Wall Street will drive buy-side firms to push for more control of their orders during the trading lifecycle, according to Tom Haldes of Trading Technologies International.
How the Buy Side Can Protect Against Rogue Algos, Broker Error
8/10/2012In the aftermath of the fallout stemming from Knight Capital Group's disastrous trading error, Tabb Group's Miranda Mizen breaks down steps the asset management community can take to protect themselves from market mayhem.
Cash-Strapped Scranton Looks to Hedge Fund For Financing
8/8/2012With the city facing a gap in its annual budget and concerns among lenders over its ability to repay its debts, Scranton's city council is pursuing financing from an unnamed hedge fund.
AdvisorShares Debuts Hedge Fund ETF on NYSE
8/8/2012The new ETF says that with the help of advisor Commerce Asset Management, it can outperform nearly half of the hedge funds within the HFRI Equity Hedge Index.
JPMorgan Asset Management Boosts Liquidity Team, Unveils Asia Pacific Fund
8/8/2012The asset manager also beefed up its global liquidity sales team with a new appointment.
Momentum Asset Management Opts for Charles River IMS
8/7/2012The South African asset manager said the move was driven by a need to better handle a growing client base.
JonesTrading Taps Exec to Oversee Global Expansion
8/6/2012The firm said Marcus Martin will spearhead its effort to help buy-side clients access block liquidity in both developed and emerging markets around the world.
SEC's Schapiro: Circuit Breakers Contained Knight Capital Damage
8/3/2012The SEC Chairman said the regulator is examining whether additional steps must be taken to shore up the markets.
New Life for Knight?
8/3/2012Amid reports that Knight Capital received new financing, TD Ameritrade and Scottrade will resume routing through the embattled broker.
Wall Street’s 5 Biggest Tech Fails
8/3/2012As the Knight Capital trading fiasco once again proved, in the race to be first, crashes will happen. But slowing down today’s high-speed marketplace would be akin to going back to the Stone Ages for market participants. High-speed trading is here to stay, and strategies will continue to grow more complex. But over the past two years, there have been a number of high-profile incidents in which an inability to harness the latest technologies that power our markets has cost industry players
Knight's Chances of Survival 50/50
8/2/2012As the firm scrambles for ways to shore up its capital base following a devastating $440 million trading loss, a source says Knight Capital's chances of survival are no better than 50 percent.
How to Prevent Market Mayhem Like the Knight Fiasco
8/2/2012It's up to the industry, and not the regulators, to shore up best practices to make sure incidents like Knight Capital's trading error don't wreak havoc in the marketplace.
Are Debacles Like the Knight Capital Fiasco Inevitable?
8/1/2012Although FIX Protocol's new risk control guidelines take aim at market dislocations like the one on display Wednesday, Woodbine's Matt Samelson says no form of regulation or oversight can stop them from happening.
FIX Protocol Risk Checks Take Aim at Fat Finger Trades, Errant Orders
8/1/2012With trading strategies becoming increasingly complex, FIX Protocol Limited is taking aim at errant orders and fat-finger trades with an updated set of guidelines for brokers and their buy-side clients.
High-Frequency Trading Is Costing Investors Billions: Pragma Securities
7/31/2012The firm said it reached that conclusion after studying high-volume stocks and discovering they were more difficult - and expensive - to trade.
With Exchange Volumes Down, Lightspeed Turns to ATS
7/26/2012In a push to find liquidity amid falling trading volumes on public exchanges, Lightspeed will route orders through the PDQ alternative trading system.
The Danger of Too Much Dark Liquidity
7/23/2012Dark pools play a critical role in today's market. But rising dark pool volumes mean wider spreads and higher costs on the lit markets, according to researchers in the U.S. and abroad.
Do Traditional Buy-Side Firms Need to Colocate?
7/20/2012Wedbush Securites' new low-latency trading platform recently scored a number of long-only buy-side clients. But experts disagree on whether traditional asset managers need such high-speed, and costly, market access.
Former Goldman Quant Breaks Down Why She Joined Occupy
7/19/2012Alexis Goldstein, who worked as a quant strategist at Goldman Sachs, Deutsche Bank and Merrill Lynch, breaks down why she ditched the finance world for the Occupy Wall Street movement.
As World Frets About Europe, GSAM’s Patel Says Its Stocks Are Undervalued
7/17/2012The conventional wisdom at least seems to be that investors should stay far from the European marketplace, but Sheila Patel of Goldman Sachs Asset Management tells Bloomberg their equities appear undervalued.
State Street Buys Goldman's Hedge Fund Admin Unit for $550 million
7/17/2012The move will help Goldman with its cost-cutting efforts, and State Street says its own earnings are likely to get a boost from the deal.
Is the Buy Side Sacrificing Speed to Save Money?
7/13/2012In an interview with Advanced Trading, Tabb Group Partner Robert Iati says long-only buy-side firms aren’t racing to colocate, and in fact, may even be slowing down as a means to save money.
How Much Will Advertising Actually Help Hedge Funds?
7/13/2012A report by the Hedge Fund Marketing Association casts doubt on what's supposed to be one of the JOBS Act's biggest benefits.
The Global Fight Over High-Frequency Trading Hits FX
7/11/2012Currency trading platform EBS said it's looking to put the breaks on techniques like flash orders, moves the Financial Times says are aimed at placating ICAP's investment banking clients who are leery of high-frequency traders.
Are the Capital Markets Serving Up Pink Slime?
7/6/2012Tabb Group analyst Adam Sussman says with prime cuts of U.S. equity being served to dark pools and internalization engines, investors are left with the pink slime.
President Obama Raising More than Expected From Wall Street
7/5/2012Although the president is far from popular throughout the securities and investment industry, he's raising more money than most expected for his reelection effort.
Can Regulators Realistically Enforce the Volcker Rule?
6/30/2012As regulators gear up to phase in the Volcker Rule -- an element of the Dodd-Frank financial reform package -- experts say a myriad of obstacles may keep the law from functioning as intended.
Buy Side Turns to Options as Strategies Grow More Complex
6/28/2012Asset managers are expanding their use of options, and with their strategies becoming more complicated, they're investing in powerful technology to aid the front and back office.
Can Social Media Sharpen Quant Models?
6/26/2012Experts scoff at the idea of social media-based sentiment analysis being the backbone of a trading strategy. But it could hold promise as a part of a multifactor quant model.
Bloomberg Updates Service With Interactive Research Platform
6/26/2012The firm said the analysis given by Bloomberg Industries is the latest major update to the Bloomberg Professional Service, which has more than 310,000 subscribers worldwide.
MarketPrizm Unveils Forex Trading Platform: PrizmFX
6/25/2012The system features high-speed connectivity and co-location to ECNs and liquidity pools around the world.
Would The Markets Benefit From a Mandatory Lunch Break?
6/22/2012In an interview with Advanced Trading Frank Partnoy breaks down why the markets need a mid-day breather, why flash crashes are inevitable in a complex system like the current marketplace, and why algorithms like the one Waddell & Reed used on May 6, 2010 are no longer in use.
Why Speed Traders Slow Down On Purpose
6/22/2012In his new book "Wait: The Art and Science of Delay," Frank Partnoy breaks down why even though speed is the lifeblood of a high-frequency trading operation, slowing down by a few milliseconds can mean bigger profits.
Nasdaq Readies Launch of London Derivatives Trading Venue
6/21/2012The exchange operator becomes the latest firm to take on the European derivatives trading market, and Tabb Group's Will Rhode says the upstart NLX will appeal to the buy side and regulators alike.
Is Enforcing the Volcker Rule an Impossible Task?
6/19/2012In a Q&A with Advanced Trading, Nice Actimize's Stephen Anikewich explains why the Volcker Rule with be a major puzzle for banks and regulators alike, and whether this holds any relevance to the buy-side in the long-run.
Hedge Fund Association Says SEC Needs Clear Rules for Vetting Investors
6/6/2012The international lobbying group said new rules will add another layer of stability to the hedge fund industry.
How Useful is Social Media-Based Sentiment Analysis to the Buy Side?
6/4/2012Progress Software founder and chief technology officer John Bates explains why even as such tools struggle to catch on, they're still likely to become very useful to the buy-side trader's workflow within the next five years.
Facebook's IPO Fail: What Went Wrong on the Nasdaq
5/21/2012As Nasdaq deals with the fallout of Facebook's IPO flop, Bloomberg's Matt Miller tried to get some answers from Cuttone & Company's Keith Bliss
Wall Street’s 9 Worst Bets Ever: From Nick Leeson to JPMorgan
5/21/2012In the wake of JPMorgan’s ill-conceived hedging strategy, which cost the bank its sterling reputation along with $2 billion and counting, Advanced Trading decided to highlight some of Wall Street’s worst bets ever.
Even Facebook Can't Get Investors to 'Like' the Markets
5/18/2012The historic debut of the social networking giant on the Nasdaq was unable to help investors forget what ails the global markets.
Hedge Fund Lone Pine Capital Opts for SS&C's Form PF Tool
5/17/2012Starting next month, hedge funds with at least $22 billion in assets under management will need to begin filling out Form PF, which is designed to monitor the risks posed to the nation's financial system by hedge funds, private equity funds, and other large private funds.
Morgan Stanley Annual Meeting Disrupted by OWS Offshoot
5/16/2012The "99% Spring" managed to drown out Morgan Stanley's shareholder vote count, but without a strategy aimed at steering elections, they won't force any meaningful policy changes.
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.
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