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Brevan Howard says significant amount of its crypto trading done from UAE
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Brevan Howard says significant amount of its crypto trading done from UAE
Oct 22, 2024 12:06 PM

Oct 21 (Reuters) - Brevan Howard does a significant

amount of its crypto trading from the United Arab Emirates

because of the country's "sensible regulations," an executive

from the hedge fund told the AIM conference in Dubai on Monday.

"The regulators in the UAE are hard, but they want the

industry to fly and so they write sensible regulations and they

are prepared to talk to the industry in order to evolve those

regulations," Ryan Taylor, group head of compliance at hedge

fund Brevan Howard, said during a panel on hedge fund trends and

strategies.

Taylor said that Brevan Howard's crypto trading operations

represented about $2 billion of the firm's total strategies

which he said was $35 billion.

Beyond saying the UAE share of trading was significant, he

did not give any precise indication.

"We're also seeing new opportunities, such as those that are

happening here in the UAE, whether it's from the equity market

or other opportunities, and we're really all excited about

that," Brandon Robinson, deputy head of private markets at

JPMorgan Asset Management, said during the same debate.

Robinson, who oversees a department at JPMorgan ( JPM ) that invests

in some hedge funds, said the bank was talking to a number of

managers in the area.

"The growth has been unprecedented. We thought the growth

was up last year. It's been just the same again," said Jonathan

Beardall, head of wealth and asset management at the Dubai

International Financial Centre Authority (DIFC).

Dubai has 65 hedge funds registered in the city centre and

that number would increase to 70 in the next few weeks, Beardall

said.

Hedge funds trading on macro economics were up 3.6% for the

year to the end of September, compared with the same period last

year, hedge fund research firm Pivotal Path found.

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