As a manger of a hedge fund, your needs are distinctly different from those of typical retail customers. The profit from a trade or the success of the fund can be determined by the quality of trade executions, the accuracy of risk tracking metrics, and the performance of your trading platform. You should be able to rely on the prices, calculations and “Greeks” that your system interface is providing you, and you expect that when you enter a trade, that it is executed quickly and at the best price.
Time and again, purportedly sophisticated trading platforms have demonstrated that they are not up to the task of providing the level of service and accuracy that sophisticated hedge funds require. While certain firms advertise that their systems deliver the ultimate trading tools, the reality is those tools simply aren’t up to the task of servicing large, complex and rapidly moving trading portfolios. This can manifest itself in reporting inaccurate prices or option data, or in the miscalculation of margin requirements. Firms often violate their duties of best execution by failing to route orders to the appropriate markets, and instead internalize trades in their own dark pools. Firms that don’t understand their own risk can panic and end up taking commercially unreasonable actions against their customers.
In an industry where every penny counts, and mere seconds can be the difference between profit or loss, you need a law firm that understands the industry, the trading strategies and the back-office operations of your broker. At Shepherd, Smith Edwards and Kantas, we have proven our ability to generate recoveries for hedge funds and institutional traders in cases where the brokerage firms did not deliver the service required. Our lawyers and staff are well versed in these subjects and have the necessary skills to breakdown complex trading issues so that juries and arbitrators can understand how your broker failed to live up to their end of the bargain.
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