A legacy of innovative futures brokerage

Bridge Alternatives, a registered independent introducing broker providing clearing and execution services in the futures markets

Our Story

In 2014, our team left senior roles at Société Générale with the goal of building an independent brokerage firm focused on providing advisory, capital introduction, index development and research events within the alternative investments industry.

Throughout our long history together, we’ve remained advocates for the inclusion of Managed Futures, Commodity and Macro strategies in an institutional investor’s portfolio.  We have built long lasting relationships and thoughtful dialogue based on our research, indices and events.  This legacy continues within Bridge Alternatives.

1992

Dean Witter purchases Discount Corporation of New York Futures

1997

Dean Witter sells futures business to Carr Futures, a subsidiary of Crédit Agricole

1999

Alternative Investments Group (AIG) formed by Brian Walls and Leslie Richman

Our Team

Brian Walls

Brian Walls

  • Former Global Head of Newedge Prime Services
  • Co-Author of Managed Futures for Institutional Investors
  • Founder and former Chairman of the Newedge Index Committee
Ryan Duncan

Ryan Duncan

  • Former Global Co-Head of the Advisory Group at Newedge
  • Led the development of the Newedge Hedge Fund Indices and managed the Newedge Index Committee
Keith Johnson

Keith Johnson

  • Former Global Head of Capital Introductions and Head of Sales, Americas at Newedge
  • Organized and planned past Newedge AIG research and cap intro events.
Galen Burghardt

Galen Burghardt

  • Former Director of Research at Newedge
  • Co-Author of Managed Futures for Institutional Investors, The Treasury Bond Basis and The Eurodollar Futures and Options Handbook
  • Featured speaker at past Newedge AIG events
Chris Kennedy

Chris Kennedy

  • Former Director, Advisory Group, Newedge Alternative Investment Solutions
  • Managed and developed technology platform for calculating the Newedge Indices, Nelson Report and Manager Evaluation Reports
Isabelle Lixi

Isabelle Lixi

European Markets Consultant

  • Former Senior Member of the capital introductions team at Newedge
  • Held positions at Societe Generale and Tradelink LLC

2002

First AIG research event held in Bordeaux

Second AIG research held in Tuscany

Galen and Ryan author A User’s Guide to the Manager Evaluation Report

2003

Galen authors The Eurodollar Futures and Options Handbook (McGraw-Hill, 2003)

Galen co-authors How Important are Daily Return Data?

Galen and Ryan co-author Understanding Drawdowns

2004

Carr Futures is rebranded as Calyon Financial

Galen and Ryan co-author What You Should Expect from Trend Following

2005

Galen co-authors The Treasury Bond Basis (McGraw-Hill, 2005)

2006

Galen writes Measuring Market Impact: Transaction Cost Analysis Comes to the Futures Markets, Futures Industry (November 2006)

Galen co-authors Measuring Market Impact and Liquidity, The Journal of Trading (Fall 2006)

Galen and Ryan co-author Every Drought Ends in a Rainstorm: Mean Reversion, Momentum, or Serial Independence?

Galen co-authors Measuring Market Impact and Liquidity

2007

Galen and Ryan co-author Superstars Versus Teamwork

Galen and Ryan co-author “There are Known Unknowns”

Galen and Ryan co-author The Costs of Active Management

Our Services

Clearing and Execution

We introduce futures clearing and execution accounts to our partner futures commission merchants (FCMs). We choose these relationships carefully and work in partnership with each FCM in order to improve the operational experience of our clients.

2008

Calyon Financial and Fimat merge, creating Newedge Group

Galen co-authors Correlations and Holding Periods: The Research Basis for the Newedge AlternativeEdge Short-Term Traders Index

Galen co-authors How Stock Price Volatility Affects Stock Returns and CTA Returns

Galen co-authors An Update on How Stock Price Volatility Affects Stock returns and CTA returns

Our Experience

Capital Introductions and Advisory

Through our research, events and deep network we are able to build relationships with managers and investors that transcend the typical capital introduction process. We advise clients in the fundraising process on competitive positioning, current market opportunities, assist with the development of marketing materials and provide market insight on partnership terms and conditions. Our team has unparalleled industry experience and insight into developing these relationships and providing our clients with targeted introductions.

Events

timesummit_colorThe time (Tactical Investment Management Education) Summit brings together institutional investors and asset managers for an invitation-only forum dedicated to raising awareness of tactical investment strategies within the investor community.  For information, please visit the event’s page: timesummit.org

Indices

As the creators of the Société Générale Hedge Fund Indices rules, processes and index committee, our team has a proven track record of building and managing a suite of the most widely used industry benchmarks. We are continuing that tradition by developing a new suite of indices in response to an ever changing marketplace.

The Bridge Alternatives Commodity Hedge Fund Indices will serve as a benchmark for the largest commodity hedge funds in the space.

Research

We’re dedicated to being a premier knowledge source for the managed futures industry, shaping ideas at the forefront of our space.  In our time together, our team has published: 

Three books

  • Managed Futures for Institutional Investors (Bloomberg Press/Wiley, 2011)
  • The Treasury Bond Basis (McGraw-Hill, 2005)
  • The Eurodollar Futures and Options Handbook (McGraw-Hill, 2003)

Four journal articles

  • Autocorrelation Effects on CTA and Equity Risk Measurement, The Journal of Alternative Investments (Summer 2013)
  • Managed Futures & Pension Funds: A Post-Crisis Assessment, Futures Industry (November 2011)
  • Measuring Market Impact: Transaction Cost Analysis Comes to the Futures Markets, Futures Industry (November 2006)
  • Measuring Market Impact and Liquidity, The Journal of Trading (Fall 2006)

Twenty-two research notes, including

  • Superstars vs Teamwork (2007)
  • There are known unknowns (2007)
  • Two benchmarks for momentum trading (2010)
  • It’s the autocorrelation, stupid (2012)
  • Capacity of the managed futures industry (2013)

2009

Galen co-authors A New Look at Building Teamwork Portfolios, AlternativeEdge Research

2010

Galen and Ryan co-author Two Benchmarks for Momentum Trading

Galen and Ryan co-author How Valuable are Daily Return Data?

2011

Galen and Brian publish Managed Futures for Institutional Investors (Bloomberg Press/Wiley, 2011)

Galen and Brian publish Managed Futures & Pension Funds: A Post-Crisis Assessment, Futures Industry (November 2011)

Galen and Ryan co-author Improvements in the Newedge Trend Indicator

2012

12th AIG research event held in Napa

Galen co-authors It’s the Autocorrelation, Stupid

2013

Galen co-authors Autocorrelation Effects on CTA and Equity Risk Measurement, The Journal of Alternative Investments (Summer 2013)

Galen and Ewan Kirk (GAM) co-author Capacity of the Managed Futures Industry

2014

Société Générale aquires remaining interest in Newedge

Galen co-authors Yield Curve Carry

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2015

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2016

2nd time Summit event hosted in Greenwich with Daniel Kahneman as keynote

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