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BlueCrest Closes FX Vol Desk?
Market sources tell Profit & Loss that systematic hedge fund BlueCrest Capital Management is closing its FX volatility desk. Sources familiar with the matter say that up to 20 employees could be affected by the closure. BlueCrest continues to trim its business, at the end of last year it returned all money to investors and focused on managing its own funds, mainly through macro-economic strategies. At the same time, Reuters reports that six members of the firm’s equities team have left to join US fund Citadel to run its global quantitative strategies fund.

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