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Nick Young, a managing director in Goldman’s New York markets strategies group has joined hedge fund Balyasny Asset Management as head of macro technology, according to a report by eFinancialCareers.
Young is the latest recruit by Mike Grimaldi, the former head of technology at JPMorgan’s corporate and investment bank between 2017 and 2021, who joined Balyasny as chief information officer in September last year. Since then he has recruited several senior staff from both JPMorgan and Goldman Sachs.
Young spent five years at the latter and also previously worked for both JPMorgan and Morgan Stanley.
CME Group is to launch European Overnight Index futures based on RepoFunds Rate (RFR) benchmarks and the Euro Short-Term Rate (€STR) in Q4 2022, pending regulatory review.
RFR futures will be cash-settled contracts based on RFR benchmarks, a robust measure of overnight funding costs. The benchmarks are derived from centrally cleared repo trades executed on BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets owned by CME Group, and MTS, a leading European electronic fixed income trading platform, part of the Euronext group. RFR benchmarks are administered by CME Group Benchmark Administration Limited (CBA).
Citadel founder Ken Griffin has been added to a list of entities subpoenaed by Twitter as the social media firm looks to force Tesla founder Elon Musk to complete his $44 billion purchase of the business.
The UK’s short exposure soared in July relative to other European countries, to give it the greatest short exposure in the region at 22.6%, according to the latest data from SEI Novus. Short exposure in Germany meanwhile, the country with the greatest short exposure in June, fell to 22.18%, followed by the Netherlands at 11.12%.
Citadel has appointed Willis Kidd as its new head of agriculture after Robert Crosby left the firm. Kidd, who joined the $53 billion hedge fund in 2014, is running the agriculture team from Chicago having been promoted to portfolio manager, according to a report by Reuters.
Xpansiv, a market-infrastructure platform for environmental commodities, is to acquire Evolution Markets, a brokerage firm in global carbon, renewable, and energy markets.
Apex Group Ltd has closed its acquisition of Sanne Group (Sanne), a global provider of alternative asset and corporate services for £1.5 billion.
Umbria Network’s Narni bridge, which facilitates the cheap and fast transfer of crypto assets between different blockchains, has added Optimism to its portfolio of bridges.
Optimism, a Layer 2 Ethereum scaling solution that uses Optimistic rollups, has seen significant uptake within the DeFi space and currently has $1.20 billion Total Value Locked (TVL). Using the Narni bridge, users can now onboard to this popular network cheaply and quickly. In testing, Narni produced the following results in comparison to the official Optimism bridge.
Optimism bridge – cost: $0.52 speed: 5 minutes
Umbria Narni Bridge – cost: $0.32 speed: 2.5 minutes
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Tiger Global’s flagship fund has ended Q2 with a 50% loss after fees on the back of the recent crash in tech stock prices, according to a report by The Financial Times.
The Palm Beach Hedge Fund Association (PBHFA) has partnered with Grassi Advisors & Accountants (Grassi), a provider of tax, audit and accounting services for the financial services industry and high-net-worth individuals.
