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Trader of the Year Hedge Fund: Conversant Capital’s David Alfred

The TRADE

I spent the first 20 years of my career at the global bulge bracket banks, first in investment banking and then on the institutional equity desks, in a cross-asset and special situations role. What has your journey to the trading desk been like?

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Challenges for the buy-side and research providers become a reality as SEC allows ‘no-action’ research letter to lapse

The TRADE

To resolve the disconnect in approaches, in its 2017 no-action letter to SIFMA, the SEC advised that it would not recommend enforcement action to broker-dealers accepting cash payments for research from investment managers which are required by Mifid II to pay for research from its own money as opposed to client commissions or ‘soft dollars’.

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Trading at the frontier

The TRADE

The active investment manager specialises in emerging and frontier markets trading across fixed income, credit and specialist equities. Due to lower demand, bulge brackets will sometimes not cater for the particulars of what frontier traders are looking to execute. “Say

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