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Report: Tudor closes Singapore trading desk

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Report: Tudor closes Singapore trading desk

TudorInvestment Corp. closed its Singapore trading desk following staffreductions in August, Bloomberg News reported Sept. 26, citing "peoplefamiliar with the matter."

The firm had 10 people in Singapore prior to closing thetrading desk, one of the sources said, adding that the company still has staffin the city focusing on quantitative research and that it continues to add suchdevelopers.

Tudor laidoff about 15% of its workforce in August as it shifted focus toquantitative research as hedge funds suffered the biggest investor redemptionsin 2016 since 2009.

A spokesman for the company declined to comment on the jobcuts, the news outlet reported.