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Citadel Securities, the market-making firm founded by Ken Griffin, the founder of hedge fund Citadel, is suing two former employees, claiming that they stole “trade secrets” when they set up their own market-making firm for cryptocurrencies, according to a report by Bloomberg.
The report files a complaint filed by Citadel Securities on Wednesday as claiming that Leonard Lancia and Alex Casimo started raising capital and building their high-frequency trading firm, Portofino Technologies, while still working at Citadel Securities and had access to proprietary information. The company is reportedly seeking a trial to determine the extent of monetary damages and potential
ARK36, a Cyprus-based alternative investment digital asset fund, has launched a new proprietary machine learning-based trading software system, which is aimed at improving the way its portfolio management team can navigate cryptocurrency trading.
ARK36 says the new software leverages “advanced algorithms” to enable its traders to make “more informed decisions, navigate market challenges and optimise their trading strategies with precision and confidence”.
The software can access updated cryptocurrency price information every second and is designed to predict price movements of specific crypto assets and complete either short or long-positions or not trade dependent on the market developments. It can make
FFP, an offshore fiduciary and restructuring practice, has launched a new fund administration business in the Cayman Islands providing a broad range of fund-focused services to hedge funds, private equity firms, venture capital funds and family offices.
Appomattox Advisory Inc, a New York-based Outsourced Chief Investment Officer firm founded in 2005, has appointed Grange Johnson as deputy CIO, focusing on portfolio construction, manager research and business development.Â
Research remains an intrinsic part of the investment process. Robust research can make or break an investment decision. Solid findings from reputable sources can validate an investment thesis while vague information from weak experts risks wasting time and money while potentially leading a manager to a dead end.
Pershing Square, the $15.5 billion hedge fund firm found by Bill Ackman, has built a new stake in Google parent Alphabet Inc worth $1.1 billion during the first quarter of the year, according to a report by Reuters
The hedge fund industry built on its prior month’s gains in April, returning 0.41% for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge. By comparison, the S&P 500 Total Return Index gained 1.56% in April.
For the year to date, the hedge fund industry has returned 2.73% through the end of April. The S&P 500 Total Return Index was up 9.17% over the same period.
Hedge fund subsectors gaining ground in April outnumbered losers by nearly three-to-one. The Emerging Markets MENA Index was the month’s pacesetter, advancing 7.62%. It was joined on the rostrum by
New York-based hedge fund manager Scopia Capital Management is to launch a new market neutral UCITS fund – the Scopia Market Neutral Strategy – on Kepler Partners’ Kepler Liquid Strategies (KLS) UCITS platform at the end of the second quarter of the year.
Shares in Chinese education companies and the stocks of US tech companies expected to benefit from AI systems including ChatGPT, attracted the attention of large Asian hedge funds in the first quarter of the year, according to a report by Reuters.
Nickel Digital Asset Management, a London-based crypto hedge find firm founded by former Goldman Sachs executive director Anatoly Crachilov, has been building out its quant division recently with the addition of two new recruits, according to a report by eFinancial Careers.
Kamil Krawczyk, who has spent the last two years as pan executive director in Goldman Sachs’ Warsaw team, has joined Nickel in London, having previously spent five years working across BNP Paribas, HSBC and NatWest.
Quant developer Bartłomiej Medygrał meanwhile, has also moved from Poland to the UK to join the firm, having spent the past 10 months working
