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Dan Yu, founder of research firm Gotham City Research, and Cyrus De Weck, who set up Portsea Asset Management, are teaming up to launch a new short-selling fund, General Industrial Partners, early next year, according to a report by The Financial Times.
The report cites a unnamed source as revealing that the pair are betting that a downturn in markets will help them replicate previous successful short bets against companies including Wirecard and Steinhoff.
Gotham City’s list of past short-selling successes include high-profile wagers against Spanish WiFi provider Let’s Gowex, which later filed for bankruptcy and admitted its accounts had
Said Haidar’s $4.3 billion Haidar Jupiter hedge fund is up 274% so far in 2022 – four-times it’s previous best ever annual performance – having chalked up a 19% gain in September alone, according to a report by Bloomberg.
The fund is one of a cohort of macro funds to have exploited recent market volatility to rack up big gains with the likes of Crispin Odey and Michael Platt also recording record profits. Rokos Capital Management and Brevan Howard Asset Management have also seen double-digit gains so far this year.
Like other rival macro funds, the key to Hiadar’s success
Hedge funds and investment banks are going head-to head in a bid to secure the best macro trading talent in Hong Kong, according to a report by eFinancialCareers.
Ongoing market volatility has provided a opportunities for macro funds to chalk up big returns, while investment banks are looking to beef up their trading operations in fixed income commodities and currencies (FICC) as they look to compensate for underperformance by their corporate finance businesses.
Huatai Financial Holdings is building a macro distribution team in Hong Kong headed by Kurt Zhang who leads the FICC sales team, while sources say that Millennium
EDX Markets (EDXM), a digital asset exchange backed by leading financial institutions, and Paxos, the regulated blockchain infrastructure platform, have formed a partnership that will enable institutional custody of traded assets for EDXM clients, and provide Paxos customers with direct access to this new state-of-the-art ecosystem.
With Paxos’ support, EDXM will offer the most trusted, efficient and liquid cryptocurrency exchange on the market.
Paxos’ enterprise platform will facilitate the custody and wallet infrastructure of digital assets for sophisticated financial institutions and investors seeking the most efficient and compliant trading venue in cryptocurrency markets. Leveraging Paxos’ blockchain technology and regulatory expertise,
Overbond, an API-based credit trading automation and execution service in the global capital markets, has integrated an AI-powered margin optimisation function into its existing automated trading system. Traders can now train Overbond’s automated system to optimise their hit ratio according to the desired trading parameters of the desk. This increases the number of trade inquiries that traders can respond to without trader intervention.
Overbond has achieved an advanced step forward in fixed income trading by fully automating the margin-optimisation function within the Overbond automated trading system and data streams via API.
The Overbond margin optimisation model optimises the distance-to-cover based
Ongoing market turmoil helped Citadel’s flagship hedge fund chalk up a 2.5% gain in September, taking year-to performance to 29%, according to a report by Bloomberg, with the firm’s three other hedge funds all generating double-digit returns too.
Ray Dalio, the billionaire investor who built Bridgewater Associates into one of the world’s biggest hedge funds, is stepping down as co-chief investment officer of the $150 billion firm, according to a report by Bloomberg. Dalio has handed over control of Bridgewater, to a new generation of investors, as the final part of a succession plan.
Dalio has transferred his majority stake to the firm’s board but remains a “meaningful” owner of the fund. His job title has changed from co-chief investment officer, to chief investment officer mentor.
The 73-year-old billionaire investor, who stepped down as Bridgewater’s CEO in 2017 and
Elon Musk’s decision to get his takeover of Twitter back on track could deliver a $255 million profit for Florida’s-based hedge fund Pentwater Capital, according to a report by CNBC.Having a acquired a 2.4% stake in Twitter during Q2 for $725 million, Pentwater Capital, which oversees assets of $5 billion, is one of the social media firm’s largest shareholders.
If the deal between Tesla CEO Musk and Twitter concludes at the original bid price of $54.20 per share, Pentwater’s stake would be worth about $980 million, yielding a $255 million profit.
Pentwater stake was acquired when Musk was signalling he
Global network and Infrastructure-as-a-Service pioneer TNS has partnered with Blue Ocean Technologies (BOT), owner and operator of the Blue Ocean ATS, a global alternative trading system (ATS) that operates from 8:00PM EDT to 4:00AM EDT.
Blue Ocean ATS will leverage TNS’ robust network backbone and dark fibre to accommodate its increasing traffic, automated connectivity, and rapid global growth. Last October, Blue Ocean Technologies implemented its vision within the capital markets industry with the launch of the Blue Ocean ATS, one of the first platforms to provide real-time access and US stock trading capabilities to investors who want to trade outside
Hedge fund Two Sigma’s systematic liquidity provider and trading business, Two Sigma Securities, has joined the Chainlink network as part of its effort to bring its high-quality market data to the blockchain ecosystem.
Two Sigma Securities is contributing its high-quality proprietary data to Chainlink decentralised oracle networks (DONs) to generate tamper-resistant oracle reports.
Two Sigma Securities is contributing its high-quality proprietary data to Chainlink decentralised oracle networks.
Developers in the Web3 ecosystem are now able to access Two Sigma Securities’ premium market data to support a wide range of smart contract use cases that rely on an aggregation of data
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