TCAP Overview

Hedge Fund Performance: Whetstone Capital achieved a remarkable 21% increase in May by exploring underperforming areas of the market.

Company Background: Founded in 2010 by David Atterbury, with Andrew Carlson joining as an investment partner in 2011, Whetstone Capital is based in Shawnee Mission, Kansas.

Widening Price Gap: The gap between near-term and future U.S. crude oil prices is increasing due to a decline in oil storage levels at Cushing, Oklahoma, affecting futures contract deliveries.

Cushing's Role: Cushing serves as the delivery hub for West Texas Intermediate (WTI) crude futures traded on the New York Mercantile Exchange, highlighting its significance in the oil market.

Regulatory Fine: Liquidnet has agreed to pay a $5 million fine to the SEC for failing to protect confidential trading information and having inadequate market access controls.

Violations: The SEC found that Liquidnet violated market-access rules by setting inappropriate credit thresholds and not limiting employee access to sensitive subscriber trading data.