DERIVATIVES Liquidity Management Extending To Structured Products HSBC is implementing a liquidity management system to automate trading in fixed income and interest rate swaps against internal order flows. ALGORITHMIC TRADING Retail and Institutional Markets Converge with FX Algorithms Brokers are giving savvy retail FX traders access to algorithms, and the buy side is benefiting from the boost in liquidity. Knight to Acquire Agency Brokerage EdgeTrade for FAN EdgeTrade's development of FAN has led to a lucrative courtship by Knight, which announced its intentions to acquire EdgeTrade for $59.5 million. MARKET INTELLIGENCE TSX Group to Merge with Montreal Exchange to Create Multi-Asset Trading Venue The TSX Group has agreed to merge with the Montreal Exchange Inc. (MX) in a C$1.3 billion deal that will create an integrated, multi-asset class execution venue for equities and derivatives in Canada. Bear Stearns Makes Key European Portfolio Trading Hire Jenny Miller will be charged with managing the firm's London-based portfolio trading sales team, as well as the portfolio sales trading business to European institutional and hedge fund clients. Gain Names Andrew Haines CIO Haines to oversee technology services at foreign exchange services provider. MANAGING THE DESK Agency Brokers See Growth as Business Evolves Automation may have taken the spotlight away from high touch trading over the past few years, but the agency brokerage model continues to succeed. Advanced Trading's industry job board includes recent job openings from broker-dealers, fund managers, exchanges, and financial technology companies. • Goldman Sachs is looking to hire a securities lending trader • The Intercontinental Exchange (ICE) is looking for senior developers • Bank of America is seeking a quant developer Visit Advanced Trading's job board to view the listings or post a job for free. |
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FROM THE EDITOR Identifying Emerging Hedge Fund Traders No Easy Task The six hedge fund traders highlighted also manage their funds, which have been open to investors for no longer than three years. TRADERS TO WATCH 6 Promising Hedge Fund Traders Emerging hedge funds can be risky, but these six hedge fund traders has proven his ability to generate strong returns. THE HONOREES John Moody Mixes Academia With Finance to Yield Impressive Returns John Moody brings a quantitative approach to commodities trading. John Hill Builds Out Futures Program Hill Crabel Futures Fund cofounder John Hill says he considers himself more of a trading model-builder than a trader. Father and Son Hedge Fund Team Use Optimal Pricing to Garner 14 Percent Returns GMB utilizes a quantitative trading model that applies optimal pricing theory to financial markets through its flagship macro fund, GMB Global Alpha Fund LP. John Ricciardi Looks to Expand Global Macro Fund The RPHM Global Macro Fund boasts a stature that belies its relatively modest $23 million in assets under management. Former Metals Specialists Reap Hedge Fund Rewards Amco Commodities traders Keiron Matthias and Christopher Adams have garnered a compound annual return of more than 17 percent since inception, putting them on Advanced Trading's Traders to Watch list. FEATURE Minority- and Woman-Owned Broker Dealers Gaining Ground More and more state and local pension funds are directing portions of their order flow to minority and woman-owned broker dealers. How are firms selected and what is important to consider when trading with these smaller shops? Sidebar The City of New York Turns to Minority- and Woman-Owned Broker-Dealers New program to direct trading flow from New York City's pension funds to minority and woman-owned firms. 
The BGC Partners photo gallery features pictures of the fixed-income,
inter-dealer broker's trading floor. These images reveal BGC's plans
to create a hybrid model for all products with the rollout of BGC
Trader, a GUI that allows clients to interact with BGC's liquidity
pool electronically.
STREET CRED Liquidity Begets Liquidity Most think of price when thinking of liquidity. But price can be subjective. How long it takes to execute, how definitive the execution is and the probability that the price will change before execution also are key factors. AT THE CLOSE Wall Street Hires CEOs to Troubleshoot Subprime Portfolios and Revamp Risk Management Wall Street firms are counting on new CEOs to clean up the subprime mess in their portfolios and revamp their risk management technologies. But they also are selling stakes to sovereign wealth funds. |
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