ED&F Man Capital Markets
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About us
Currently operating from offices in London, New York and Chicago, The company provides access to more than 60 global futures exchanges, as well as global equity CFDs, fixed income, and foreign exchange. ED&F Man Capital Markets currently operates in 5 divisions: Global Execution & Clearing The team provides one-point-of-call solution for global execution and clearing with access to most international exchanges and OTC markets. Products traded include futures, forex, and equity CFDs. Equities The Equity Finance business offers its client base effective solutions across multiple asset classes in multiple jurisdictions. This comprises bespoke trading solutions coupled with financing, clearance and custody capabilities. Fixed Income The Fixed Income business provides an integrated, institutional investor coverage platform (sales, trading and research) that acts as an intermediary facilitating corporate and government bond transactions between institutional end-clients with an emphasis on matched-principal business. Foreign Exchange A 24 hour, client-driven brokerage operation catering to funds, corporates, high net-worth and professional traders alike. Products offered include spot and forward FX, vanilla and exotic options, NDFs and precious metals. Commodities In addition to global brokerage and clearing services in base metals, energy, freight, raw materials and soft commodities the team designs creative structural hedging solutions using OTC and on-exchange.
Company detailsWebsite
edfmancapital.com
HeadquartersLondon
Company typePrivately Held
Company size201-500 employees
SpecialtiesFutures & Options, Fixed Income, Foreign Exchange, and Commodities
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http://en.wikipedia.org/wiki/Man_Group
Man Group
From Wikipedia, the free encyclopedia
Man Group plc is an active management business [3] initially founded as a sugar cooperage and brokerage by James Man in 1783. It provides a range of funds for institutional and private investors globally and is the world's largest publicly traded hedge fund company, reporting $103.5 billion in funds under management as of September 2017. [4] The firm is headquartered at Riverbank House in London and employs over 1,000 people in various locations worldwide. [5] The company is a noted sponsor of the arts and charitable initiatives, including the Man Booker Prize and the Man Charitable Trust.
In recent years the firm has made several acquisitions as part of its strategy to diversify the business, particularly in the United States. These acquisitions including Man Numeric, a quantitative equity manager. The firm has also seen a shift towards institutional clients and private markets, the latter beginning with the 2017 launch of Man Global Private Markets (Man GPM).
Contents [hide]
1History 2Structure and operations 2.1Man AHL 2.2Man Numeric 2.3Man GLG 2.4Man FRM 2.5Man GPM 3Strategy 3.1Mergers and acquisitions 4RMF and Bernard Madoff 5Man Booker Prizes 6Corporate responsibility 6.1Man Charitable Trust 6.2Oxford-Man Institute 6.3Former sponsorships and charitable initiatives 7See also 8References 9Further reading 10External links
History[ edit]The company was founded by James Man in 1783 as a sugar cooperage and brokerage, based in Harp Lane in Billingsgate. The following year Man Group won the contract to supply the Royal Navy with the rum for its daily "rum tot", a tradition under which all sailors were allocated a daily rum ration. This tradition continued until 1970, with Man Group holding the contract throughout. [6] The company further expanded from sugar and rum into other commodities such as coffee and cocoa. The company traded as a commodities business throughout the 19th and 20th century, gradually diversifying into financial services following the advent of financial exchanges to hedge commodity exposures. [6]
The firm was renamed ED & F Man in 1869, based on the initials of James Man's grandsons Edward Desborough Man and Fredrick Man. ED & F Man listed on the London Stock Exchange in 1994. In 2000 the company divided into two entirely separate businesses, with Man Group plc focusing exclusively on financial services and ED & F Man (the commodities division) taken private in a management buy-out. [7]
In 2007 Man Group moved into its present form as an investment management business, following the demerger and flotation of its brokerage business (known as MF Global) on the New York Stock Exchange. [8] Man Group attained its current structure over time through acquisition. Man AHL is the oldest investment manager of the group, having been acquired over time from 1989 to 1994. Man Group’s other investment managers were formed via acquisition between 2010 and 2017, beginning with the 2010 acquisition of Man GLG (previously GLG Partners) for $1.6 billion, [9] followed by Man FRM in 2012, [10] Man Numeric in 2014 and Man GPM in 2017. [11]
Structure and operations[ edit]
Man Group head office at Swan Lane in London (building in the background)
Man Group offers strategies across a variety of investment approaches, styles and asset classes: [12]
Man AHL[ edit]Founded in 1987, Man AHL is a diversified quantitative investment manager offering absolute return and long-only funds, with both momentum and non-momentum strategies. In recent years, the manager’s sales have shifted from retail to institutional investors. Man AHL has over 150 investment professionals as at June 2017.
Man Numeric[ edit]Man Numeric was established in 1989 and acquired by Man Group in 2014. A Boston-based quantitative asset manager with $27.3 billion FUM as at June 2017, Man Numeric offers long-only, active extension and hedged equity strategies. Man Group acquired Man Numeric to build a diversified quantitative fund management business in non-momentum strategies, and to develop Man Group’s presence in the North American market.
Man GLG[ edit]Man GLG was established in London in 1995 as GLG Partners. It was publicly listed in 2007 before being acquired by Man Group in 2010 for $1.6 billion. Man GLG is a multi-team discretionary investment manager. Man GLG utilises absolute return and long-only strategies across asset classes, sectors and geographies. The January 2015 acquisition of Silvermine was expected to boost the division’s US CLO business. [13]
Man FRM[ edit]Established in 1991, and acquired by Man Group in 2012, Man FRM's 58 research and investment professionals operate from London, New York, Tokyo, Guernsey and Pfäffikon(SZ), Switzerland. [14]
Man GPM[ edit]Man Global Private Markets Group (Man GPM) launched in 2017, with the completed acquisition of Aalto Invest Holding AG, a real estate investment management company with $1.7bn in assets under management at the time. [15] The Aalto acquisition provided longer-term, more diversified investment strategies for Man Group's clients.
Strategy[ edit]Luke Ellis was appointed as Man Group’s CEO in September 2016. [16] He succeeded Manny Roman, whom Ellis had worked with for seven years at Man Group and had known for two decades. Ellis' strategic objective for Man Group is to continue diversifying the firm through acquisition, as well as invest in its infrastructure. [17]
Man Group has seen significant cost-cutting, led by Co-President Jonathan Sorrell, with a $270 million cost-saving programme planned for delivery in 2015 achieved ahead of schedule. [18] [19] [20] Sorrell's role as President was expanded by Ellis to include corporate strategy, private markets and acquisitions. [21]
Mergers and acquisitions[ edit][ show]Table of Man Group mergers and acquisitionsDate
RMF and Bernard Madoff[ edit]RMF, a former division of Man Group, invested 0.5% of its funds under management at the time with various 3rd party funds which, in turn, had positions in funds ultimately managed by Bernard Madoff. RMF was one of 107 financial institutions and 13,000 individuals to invest in such funds. As of 2014, 59% of all such funds have been recovered and returned to various institutions and individuals. [39]
Man Booker Prizes[ edit]Man Group has sponsored The Man Booker literary prize since 2002. [40] Described by The Telegraph newspaper as “...arguably the UK’s most prestigious" literary prize, the £50,000 award was created in 1973 to increase the reading of quality fiction and attract “the intelligent general audience”. [41] [42] Each year the winner is announced at an awards dinner broadcast live by BBC Television. Inclusion into the award's shortlist and attendant press coverage is known to provide a significant boost to book sales and bookstore visits, with sales trebling in some cases. [43]
The 2017 prize was awarded to the American writer George Saunders, for Lincoln in the Bardo. [44] Previous winners include Philip Roth and Lydia Davis. [42] The 2014 award went to author Richard Flanagan for The Narrow Road to the Deep North, with his prize presented by Chair of judges AC Grayling at London’s Guildhall. It was the first year in which eligibility for the award was expanded to include any novel written in English and published in the UK. [45] Man also sponsors the Man Booker International Prize. This £50,000 prize is awarded each year on the basis of a single book translated into English, and aims to encourage the publishing and reading of quality fiction in translation. The prize is divided equally between author and translator. [46]
Corporate responsibility[ edit]Man Group supports various charitable initiatives, principally through the Man Charitable Trust and the Oxford-Man Institute:
Man Charitable Trust[ edit]Set up in 1978, The Man Charitable Trust is an independent registered charity that funds small to medium-size charities focusing on literacy and numeracy programmes. It also funds programmes in support of access to education for disadvantaged people. In 2014 the trust awarded £427,075 to UK charities, including £50,000 to Beanstalk, a charity that recruits and trains volunteers to provide reading support in primary schools, and £50,000 to National Numeracy, a charity dedicated to raising low levels of numeracy among adults and children. [47] [48]
Oxford-Man Institute[ edit]In June 2007 Man launched a joint project with the University of Oxford, the Oxford-Man Institute of Quantitative Finance. Man Group’s initial financial commitment to the Institute was £13.75 million, one of the largest single donations to a British higher education institution in recent years. [49] In 2016 the Oxford-Man Institute expanded its focus on machine learning and data analytics, becoming part of the University of Oxford's Department of Engineering Science. The development of the OMI's focus creates a hub for machine learning and data analysis at Eagle House, the current home of the OMI and Man AHL's Oxford Research lab. [50]
Former sponsorships and charitable initiatives[ edit]Man Group is a former sponsor of the Man Group International Climate Change Award and the Man Asian Literary Prize. [51] [52] In the 1990s, Man was a founding member of the East London Partnership, which became the East London Business Alliance, a business-community outreach charity promoting corporate social responsibility and employee volunteering. [53]
(very minor editorial observation.... by JJP.... when you are working with 60 exchanges globally... you have
vastly superior information flows...... as My Mentor and Boss at Citi in Sydney John Rice... very causually
mentioned to me one morning shortly before as very Australian hours and rules trading commenced......
He knew I had a late night before that day and he had this amazing ability to ask a question like the very
best of Hollywood's actors as if he had no idea at all... but he knew the answer...... he wanted to see what
those with less information and time with the Bank....
That particular morning he super casually says....as if he had just thought about it for the very first time ever
... you know the Foreign exchange dealing floors who be a great place to have CIA operatives......
He is sitting to my left on bond desk... and my response...was "really... why would that be"
John Rice, a native New Yorker who studied with the Jesuits as part of his educational preparation for the
his Adult Life... then did state what is when you think about it absurdly obvious..
the Global Foreign Exchange markets are the very first to get all information... because the very first people
to learn about anything occurring in the world.... whether it be an earthquake, a nuclear reactor meltdown
in the Ukraine, a change in political leadership.... a war.... we could come up with millions of examples...
The Super wealthy ..and their asset managers and bankers have to move the MONEY..... and the
money flows through the Interbank market and the exchanges...
I suppose now that I have put it that way I say that , I am stating the obvious......
JJP |
