High-Frequency Firm May Launch Hedge Fund

Feb 12 2014 | 12:21pm ET

High-frequency trading firm Maven Securities hopes to translate its early success into an expansion into hedge funds.

The London-based firm may launch a hedge fund featuring its best-performing strategies—if it can find the right partner. Maven would "look to spin out a number of strategies into a hedge fund given the right seed investor," co-founder Ben Huda told Financial News.

Huda, a former trader at Tibra Capital, founded Maven in 2011 with Ivan Koedjikov and Ian Toon. Koedjikov formerly worked at Optiver and Toon worked at both Optiver and Tibra. The proprietary-trading firm generated £19 million in revenue and £7.8 million in its first full year of operations, ending on June 30 of last year.

Huda said Maven's success was due to its technology platform and diversified strategies, and said it plans to continue to expand. Last year, it hired Raphael Kain from Trafalgar Asset Managers.

"Maven is well-diversified in terms of trading strategies and we will continue to base our expansion plans around any talented traders we recruit," Huda told FN. "As with all proprietary trading firms facing such a dynamic regulatory landscape, we are looking to further complement our compliance and risk functions with key hires."

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