Institutional digital asset prime broker FalconX has launched Prime Connect, an exchange settlement solution which enables institutional investors to trade on exchanges while their funds remain in bankruptcy-remote, regulated custody. The broker’s new offering is aimed at clients seeking a secure exchange trading environment along with access to FalconX’s services including post-trade settlement, institutional-grade credit and portfolio margining, according to a press release. In a press statement, Vivek Chauhan, Principal Product Manager at FalconX, said: “FalconX’s Prime Connect caters to th ..read more

Jain Global, the hedge fund founded by former Millennium Co–Chief Investment officer Bobby Jain, has expanded its teams in Singapore, London and New York, ahead of its planned July launch, according to a report by eFinancial Careers. Benedict Stoddart, who spent the past decade as a rates trader at Morgan Stanley in London before moving to Frankfurt, is returning to the UK for his new role in Jain’s London office. Also in London, Richard Martin, who was once Head of Quantitative Strategies at Man Group but has spent the past five years as an independent consultant focused on systematic trading ..read more

Taula Capital Management, the new hedge fund founded by former Millennium Management Portfolio Manager Diego Megia, which is set to begin trading later this quarter, is setting up an office in Milan, according to a report by Bloomberg. The report cites unnamed sources familiar with the matter as confirming that Taula Capital’s new trading outpost will complement the firm’s existing presence in London, New York, Dubai and Jersey. Taula is the latest in a number of hedge funds to establish a presence in Milan, with Point72 Asset Management and Capstone Investment Advisors also among those settin ..read more

US hedge fund Elliott Investment Management believes market participants are too pessimistic about the size of Thames water’s debt pile and has built a position in the troubled utility company’s bonds, according to a report by the Financial Times. The report cites people familiar with the matter as revealing that in recent weeks, Elliott, one of the world’s largest activist investors with about $65bn in assets, has been buying Thames Water’s bonds at a discount to face value. When Thames Water — which supplies 16m people in London and the surrounding area, about a quarter of the population of ..read more

The Financial Regulatory Authority (FRA) of Egypt has proposed amendments to the executive regulations of the country’s Capital Market Law that would allow for the launch of hedge funds in the country, according to a statement by the authority. The FRA’s aim is to diversify the range of investment vehicles currently available to investors, while also boosting the appeal and competitiveness of the Egyptian market. The authority also plans to license robo-advisory firms to allow investors to manage their investments via a digital financial adviser, according to the FRA’s Chairman Mohamed Farid ..read more

Appaloosa Management, the distressed debt-focused hedge fund firm founded by David Tepper and Jack Walton, has become the latest company to file a lawsuit over the wipeout of $17bn of high-risk bonds in UBS Group’s deal last year to save Credit Suisse from total collapse. The report cites a complaint filed in a federal court in Newark, New Jersey, in revealing that Appaloosa served as investment adviser to Palomino Master and Azteca Partners, who are also plaintiffs in the lawsuit, on their purchases of Credit Suisse’s Additional Tier 1 (AT1s) bonds, which were written to zero just days after ..read more

PARTNER CONTENT Leda Braga, the founder of Systematica Investments, discussed the vital importance of technology and gave her views on AI and markets in a wide-ranging discussion with Bill Stone at the SS&C Deliver Europe summit. The Brazilian hedge fund manager, whose firm manages about $17bn, leads one of the world’s most successful quantitative managers. Her fireside interview opened the conference at the Fairmont Windsor Park near London, marking the first time SS&C has brought its client conference to Europe, with more than 200 clients and executives in attendance. Braga shared he ..read more

Stockholm-based hedge fund firm Tidan Capital has appointed Magnus Linder as Portfolio Manager of Nova, a market neutral volatility and options arbitrage strategy scheduled to launch during Q2 2024. The strategy is expected to first go live during the summer as part of a bespoke mandate for a large US institutional investor. Later during Q3, a commingled fund, seeded by a Swedish family office with a target investment of $100m, will be launched within Tidan’s RAIF structure in Luxembourg. Linder joins Titan from Swedbank Robur, a Nordic financial institution, where he served as Head of Portfol ..read more

JANA Partners, the activist hedge fund firm founded by Barry Rosenstein, has written a letter to Wolfspeed, the world’s largest manufacturer of silicon carbide, to consider all options for improving shareholder value including a sale of the company, according to a report by Reuters. The report quotes JANA, which owns what it describes as a “significant” stake in Wolfspeed, was writing in the letter that “all avenues to improve WOLF’s performance” should be consider as part of a “comprehensive review of strategic alternatives.” JANA wrote: “Such an exploration of alternatives could uncover nume ..read more

Global capital markets technology platform provider Trading Technologies International (TT) has introduced TT Splicer, a new TT Premium Order Type that intends to enhance functionality for synthetic multi-leg spread trading. In a statement, Joe Signorelli, EVP & Managing Director, Quantitative Trading Solutions, said: “TT Splicer combines the ease and flexibility of TT’s market-leading Autospreader with the power of our best-in-class execution algos to uniquely minimise slippage and optimise trade execution when trading synthetic multi-leg spreads.” According to a press release, TT Splicer ..read more