Free Two Week Trial
Two minutes to sign up!
HC Technologies Team with Tudor for LaunchPad Trading
23 June 2015
HC Technologies and Tudor Investment Corporation have announced the formation of LaunchPad Trading, a joint venture established to “actively seek the next generation of trading talent”.
The firms say the initial goal will be to recruit global macro traders who specialise in trading global futures (FX, fixed income, equity index and commodity markets) and cash markets (FX and fixed income). Trading in single stock names will not be permitted.
The collective aim is to invest proprietary capital in early career portfolio managers and groom them to potentially manage customer assets on the Tudor platform or form their own asset management firms with seed capital.
Paul Tudor Jones II, founder of Tudor Investment Corporation, says, “Through LaunchPad Trading, we are going to broaden our search and try to select a set of traders from a pool of candidates that we didn’t focus on in the past. There are fewer options open to traders who want to learn trading skills and manage capital at the start of their career.
“We want to provide an environment where they can get that experience,” he continues. “I couldn’t be more excited about combining our knowledge in the global macro space with the demonstrated success of Joe Niciforo’s acquisition and cultivation of algorithmic traders at HC Technologies. It should be a win-win.”
Joseph Niciforo, managing member of HC Technologies, adds, “LaunchPad Trading is a great opportunity for us to combine forces with my former colleagues at Tudor and to expand our businesses to cultivate the next generation of portfolio managers together.”
Nancy Skiest Andrews, an early stage hire at Tudor and subsequently an investment manager at GAM (Global Asset Management), will serve as CEO of LaunchPad Trading. There will be an advisory committee consisting of Tudor portfolio managers, Joe Niciforo and Nancy Andrews, who collectively will assist in trader selection, ongoing monitoring and asset allocation decisions, and making recommendations of traders for the Tudor platform.
Colin_lambert@profit-loss.com Twitter @lamboPnL