Technology-focused Hedge Fund, AienTech, Closes after Making its Mark in FX as a Top Provider of Volume to Bank Platforms

Ugur Arslan, CEO at AienTech

Ugur Arslan, CEO at AienTech (Linkedin)

New York-based, high-frequency trading (HFT) firm AienTech is closing down after almost three years in operation, its chief executive and founder Ugur Arslan has confirmed. Details surrounding the closure are not yet known.

Launched in January 2011 with a staff of 12, the technology-focused, multi-strategy and multi-market hedge fund uses artificial intelligence and quantitative models to extract alpha from financial markets. However, Arslan insists his firm is different to other HFT firms, because it takes risk and does not use speed-only strategies. It also trades on single-bank platforms, which HFTs typically avoid due to their tight controls on any kind of arbitrage, he says.

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