Following the results of the UK referendum decision to leave the European Union last week the common consensus amongst FX market participants has been that the biggest surprise – apart from the result itself – was how well the FX market handled ...
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.