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Enabling Emerging Managers
HedgeWeek | Dec 22
Wedbush Securities was founded in 1955 and is one of the largest providers of small and midcap equity research in the US. Three years ago, Sean Trager set up the prime brokerage division within Wedbush Securities to cater specifically to smaller money managers. "Rather than focus on multi-billion institutions, we choose to focus on the multi-million institutions. We are building a name for ourselves with the emerging manager community," explains Trager, who continues: "We provide the infrastructure. If someone were to spin out of a multi-billion dollar hedge fund with friends and family money we give them direct market access. They get access to our trading desks, our research; all the things needed to successfully run a hedge fund."
Outlook 2017: Joe Mecane, Barclays
Markets Media | Dec 22
Joe Mecane is managing director, global head of electronic equities product at Barclays, shares his thoughts on what's to come in 2017 Markets Media's Rob Daly.
Former State Street Global Futures Head Joins Credit Agricole
The TRADE News | Dec 22
Peter Williams, the former global head of futures and options clearing and execution at State Street, has joined French bank Credit Agricole, The TRADE Derivatives understands. Williams departed State Street in May after the custodian announced it would shut down its global futures clearing (FCM) unit.
Cowen Makes Senior Hires for Electronic Trading
The TRADE News | Dec 21
US-based broker-dealer Cowen Group has hired a former Goldman Sachs trader to head up its electronic trading business. Jason Oien joins Cowen as managing director and head of electronic trading services, having previously been responsible for west coast electronic sales and international electronic trading sales at Goldman Sachs. Oien has also worked for Instinet as an account executive and as a sales trader and market maker for Jefferies.
Transaction Cost Analysis Makes Leap to Bonds, Foreign Exchange
Institutional Invesetor | Dec 20
Among U.S. brokerages, Credit Suisse claims the No. 1 spot in this year's survey with an average cost per transaction of 24.45 basis points below the volume-weighted average price (VWAP) for the universe covered in the year ended June 30, 2016. Brandes Investment Partners takes first place among U.S. investment managers with an average cost of 44.67 basis points below VWAP. Globally, Russell Implementation Services leads brokerages with a cost of 35.06 basis points below VWAP; Goldman Sachs is tops among investment managers with a cost of 22.03 basis points below VWAP.