Digital Assets Report

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TOP STORY: A period of poor performance has prompted macro hedge fund major Brevan Howard to embark on a strategic cost cutting exercise which will see the Jersey-headquartered firm axe around 100 traders and middle and back-office staff, according to a report by Bloomberg.
Hidden Road Partners, a startup prime brokerage with backing from Ken Griffin’s market-making firm Citadel Securities, is looking to raise new funds as the digital assets market rebounds, according to a report by Bloomberg citing unnamed people with knowledge of the matter. 
European Commodity Clearing and BSP Energy Exchange have concluded the migration of clearing services for power spot intraday continuous and day-ahead customers in Slovenia. Around 30 customers have so far transferred to the ECC systems.
Iress’s QuantHouse division, which provides API data feeds to hedge funds and other asset managers, has entered into a global partnership with BMLL, a independent provider of harmonised Level 1, 2 & 3 historical data and analytics for the global equity and futures markets.
Thomas DeBow has left his role as Chief Technology Officer at Alphadyne Capital Management, the global macro and fixed-income relative-value hedge fund founded by ex-Goldman Sachs partner Philippe Khuong-Huu, to join multi-strategy firm Schonfeld Advisors.
Hedge fund performance was positive during the first quarter, as nearly all strategies turned more bullish on US stocks, with gross returns across all strategies averaging nearly 6%, led by managed futures strategies with gross returns at nearly 10%, according to Unlimited’s Hedge Fund Barometer, a new quarterly report and data analysis tool.
Two years of losses at Lijaro Asset Management has prompted Founder Stephen Irving, who left Balyasny Asset Management to start the long-short equity hedge fund about four years ago, to return money to investors, according to a report by Bloomberg.
The MFA has urged the Securities and Exchange Commission to improve access to Treasury clearing by making substantive changes to the proposed Fixed Income Clearing Corporation Treasury clearing rules in a comment letter.
Multi-strategy major Millennium Management and Boston-based systematic global equity manager Arrowstreet Capital are among a number of hedge funds shorting the assets of UK water companies, after a crisis at Thames Water highlighted high debt levels across the industry, according to a report by Bloomberg.
Citadel, the multi-strategy hedge fund major founded by Ken Griffin, and Citadel Securities, his market-making firm, are progressing with plans to build a new 1.8m sq ft skyscraper on New York’s Park Avenue, in partnership with Vornado Realty Trust and Rudin, according to a report by CoStar.

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