Following last week’s report that the NFA was removing AlphaMetrix360 as its third party vendor, the regulator has now notified its parent company, AlphaMetrix Group LLC that it has until November 1st to repay $600,000
Following last week’s report that the NFA was removing AlphaMetrix360 as its third party vendor to monitor real time FCM segregated customer accounts, the regulator has now notified its parent company, AlphaMetrix Group LLC that it has until November 1st to repay $600,000 in rebates owed to its managers and partners. AlphaMetrix Group, which operates a fund marketplace to match investors with hedge funds and CTA’s, announced to its clients that it was experiencing financial woes which had caused a delay in Payments to its partners. The news led to the ousting of the firm’s CFO, as well as the NFA notifying its members that it will no longer be contracting AlphaMetrix’s hedge fund monitoring service, AlphaMetrix360.
According to the current NFA Member Responsibility Action letter (MRA), AlphaMetrix was reported to be acting as a commodity pool operator (CPO) for 90 pools, with $700 million under management as of August 31, 2013. Among the pools include investments in commodities, financial, and FX futures products. Although AlphaMetrix announced to clients that customer funds were safe and being held at separate financial institutions, they did state that the failure to pay third-party managers could affect their accounts by saying, “(AlphaMetrix LLC) has recently encountered significant cash flow issues and is working to strengthen its current financial position and its continued operations. As a result of this, the CPO has delayed fee rebates owed to certain of its third-party money managers and participants, which should have been reinvested into various pools, but were not. The fact that these fee rebates were not reinvested may have an impact on the pools' net asset values."
As a result of the cash shortfall, AlphaMetrix has been reportedly seeking to raise funds by selling ownership stakes in the company. According to the NFA, failure to meet the November 1st deadline will lead to the prohibition of trades and fund transfers in its pools from being placed without approval from the regulator.
Looking ahead, even if AlphaMetrix were to meet the payment deadline, the firm could be vulnerable to investor withdrawals due to lack of faith in the company. As such, barring the entrance of a new financial partner that is deemed trustworthy by the investment markets, AlphaMetrix may continue to experience cash flow woes.
Following last week’s report that the NFA was removing AlphaMetrix360 as its third party vendor to monitor real time FCM segregated customer accounts, the regulator has now notified its parent company, AlphaMetrix Group LLC that it has until November 1st to repay $600,000 in rebates owed to its managers and partners. AlphaMetrix Group, which operates a fund marketplace to match investors with hedge funds and CTA’s, announced to its clients that it was experiencing financial woes which had caused a delay in Payments to its partners. The news led to the ousting of the firm’s CFO, as well as the NFA notifying its members that it will no longer be contracting AlphaMetrix’s hedge fund monitoring service, AlphaMetrix360.
According to the current NFA Member Responsibility Action letter (MRA), AlphaMetrix was reported to be acting as a commodity pool operator (CPO) for 90 pools, with $700 million under management as of August 31, 2013. Among the pools include investments in commodities, financial, and FX futures products. Although AlphaMetrix announced to clients that customer funds were safe and being held at separate financial institutions, they did state that the failure to pay third-party managers could affect their accounts by saying, “(AlphaMetrix LLC) has recently encountered significant cash flow issues and is working to strengthen its current financial position and its continued operations. As a result of this, the CPO has delayed fee rebates owed to certain of its third-party money managers and participants, which should have been reinvested into various pools, but were not. The fact that these fee rebates were not reinvested may have an impact on the pools' net asset values."
As a result of the cash shortfall, AlphaMetrix has been reportedly seeking to raise funds by selling ownership stakes in the company. According to the NFA, failure to meet the November 1st deadline will lead to the prohibition of trades and fund transfers in its pools from being placed without approval from the regulator.
Looking ahead, even if AlphaMetrix were to meet the payment deadline, the firm could be vulnerable to investor withdrawals due to lack of faith in the company. As such, barring the entrance of a new financial partner that is deemed trustworthy by the investment markets, AlphaMetrix may continue to experience cash flow woes.
eToro Welcomes Back Naomi Rarmani as Head of Compliance Operations
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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