Thursday, 25 December 2014
Last updated 17 hours ago
Jun 2 2011 | 3:31pm ET
Citigroup has shuttered an internal quantitative hedge fund as the bank continues to slough off proprietary trading operations.
Citi closed its Quantitative Strategies fund in April, after naming fund manager Shakil Ahmed head of electronic market-making, Bloomberg News reports. The fund managed $400 million, all of it internal capital.
The bank did not disclose the fund's performance. Citi, like other banks, is in the process of coming into compliance with the Dodd-Frank financial regulation law, which bars proprietary trading.
Ahmed, who also serves as co-head of electronic trading, has been with Citi since 2008. He joined the firm from Morgan Stanley's quantitative prop. trading desk, the process-driven trading group.
Morgan Stanley is in the process of spinning off PDT as an independent hedge fund, a deal that show close by the end of next year.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.