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Hedge funds produced mixed declines in May as volatility across global equity, bonds and commodity markets accelerated, with equities falling into correction territory amidst many investors positioning for the US economy to enter recession as a result of generational inflation.
The investable HFRI 500 Fund Weighted Composite Index declined -0.5% for the month, with Macro hedge funds paring strong YTD gains while Event Driven strategies led declines, according to data released today by HFR. The HFRI Fund Weighted Composite Index meanwhile, declined -0.6% for the month.
The top decile of the HFRI constituents gained an average of +5.7% in May
Apifiny, a global cross-exchange digital asset trading network, has launched Apifiny Algo, an advanced performance crypto trading library in C++ for High Frequency Trading (HFT) and latency sensitive traders.
The trading library is being rolled out with global cryptocurrency exchange Okcoin as Apifiny’s flagship partner, with Okcoin clients receiving free subscriptions to the high performance quant trading modules Apifiny Algo offers.
According to the Global Crypto Hedge Fund Report 2021, 21% of traditional hedge fund managers also actively invest in digital assets, using quantitative and algorithmic investment strategies for trading cryptocurrencies. Apifiny Algo offers modules for direct market data access,
Most traditional hedge funds getting into digital assets are still just ‘dipping their toes’ in the water with 57% having less than 1% of total AuM in digital assets.
Jewel Bank, a banking platform for the digital asset economy, has received approval from the Bermuda Monetary Authority (BMA) for its combined full bank license and digital asset business (DABA) license.
Jewel Bank is Bermuda’s first new bank in over twenty years and first digital asset bank. Jewel’s services address the core banking, payments, and settlement needs of many of the world’s largest global digital asset firms and exchanges, via API or web. As a full license Bermudian bank, Jewel Bank will service digital asset firms (B2B) around the world in any non-sanctioned jurisdiction, as well as the US.
Umbria Network has joined the Polygon Ecosystem DAO’s “Polygon Village,” an initiative designed to assist developers in growing their projects.
Following an initial development grant from Polygon in early 2021, the latest collaboration will see Polygon Village bolstering Umbria’s marketing efforts to take the project to the next level. With the protocol’s Narni bridge having cemented its position as one of the the fastest, cheapest liquidity bridges between the Ethereum and Polygon networks, Umbria’s next focus is promoting its Bridge Widget V2 to large-scale projects built on Polygon such as QuickSwap.
Integration of the widget provides a partner project’s
US trading firm Jane Street Global Trading has launched a USD13.5 million lawsuit against the London Metals Exchange (LME) following the cancellation of Nickel trades in March, according to a report by The Financial Times.
Crypto hedge fund BKCoin Capital (BKCoin) has made three senior appointments: Paul Magahis, as president, Adriano Caloiaro, as chief technology officer, and Leanna Haakons, as director of business development & investor relations.
The appointments come as BKCoin’s founding principals, Carlos Betancourt and Kevin Kang, continue to scale BKCoin following strong institutional demand for quantitative crypto investment solutions.
Magahis will oversee BKCoin’s corporate strategy, development, and operations, and will be a key member of the investment committee.
Caloiaro will build and maintain BKCoin’s computation and strategy execution platform, while also setting and implementing the vision for the future of
Windward Management LP, a Miami-based hedge fund management firm, has launched its operations with SS&C Technologies’ front-to-back office solution.
SS&C will provide fund administration, order and execution management, investor relations, compliance and regulatory services.
Windward Management LP, run by Marc Chalfin (CIO), uses a deep, fundamental, value with a catalyst approach, making concentrated long and short equity investments where there are significantly skewed and asymmetric risks/rewards. In addition, SS&C will support fund and investor accounting, FATCA and CRS compliance and Form 13-F filings.
Ocorian, a specialist in corporate and fiduciary services, fund administration and capital markets, has appointed Don Ross as global head, investor services as it continues the transformation of its technology-led fund services business.
Acadia, a provider of integrated risk management services for the derivatives community, has appointed Stuart Smith and William (Will) Thomey as co-heads of business development.
In these newly created roles, Smith will oversee business development for Acadia’s risk and data products, while Thomey will assume equivalent responsibility in the areas of workflow and agreement management.
Both positions report to Fred Dassori, Acadia’s chief product officer.
