ErisX Hires Capital Markets Veteran as Chief Risk Officer

Vindhu Singh is the firm’s first chief risk officer and will report to Head of Eris Clearing Liz James. Singh will set the risk management priorities for the firm’s clearinghouse business roadmap as well as manage credit, market and liquidity risk management.

Crypto derivatives platform ErisX has added a capital markets risk management expert to its C-suite, the company announced Thursday.

Singh joins ErisX from quantitative trading firm Hudson River Trading, where he was a business operations manager. Prior to Hudson River, Singh was chief risk officer and director of analytics at market making firm Sun Trading, which Hudson River acquired in 2018. Singh has also held similar positions at Stark Investments and UBS Investments Bank.

“I followed the productive year they had in 2019 with the launch of their digital asset markets, completion of their technology stack and the ability to secure a derivatives clearing organization (DCO)  license”, Singh said about his new employer in a press release. “I look forward to joining the team of market professionals at ErisX and assisting in the next chapter of growth while managing the unique risks associated with a regulated digital asset platform.”

In December, ErisX launched physically settled bitcoin futures contracts. Last month, the firm partnered with software provider Etale to offer its users data and trading products.

EToro and The Tie to Track Crypto Sentiment on Twitter for Investors

EToro unveiled the new strategy, dubbed TheTIE-LongOnlyCopyPortfolio, in an official announcement on Oct. 15.

The social trading and investing platform eToro has partnered with analytics and finance management startup The Tie to launch a sentiment-based analytical tool to track people’s perception of cryptocurrencies.

The strategy analyzes digital currency-related conversations, processing 850 million tweets every day by means of machine learning and natural language processing technology.

Opening trades on positive sentiment signals only

When parsing through social media messages, the tool scans each tweet individually to single out tweets related to a specific cryptocurrency and uses a filter to assess the relevance of the data and to remove spam and bots. Sentiment is measured on a per coin basis to guarantee that the assessment properly reflects positive and negative conversations on Twitter for a particular coin.

The TIE’s Long-Only CopyPortfolio is a bullish sentiment-driven strategy that considers long positions only with a minimum of three holdings, which eventually opens trades based on positive sentiment signals on Twitter. Joshua Frank, co-founder and CEO of The Tie, said:

“All you need to do is click one button and you can copy these sophisticated trading strategies trusted by some of the world’s leading hedge funds and institutional investors.”

Crypto indices and “human-free” tools gain traction

Earlier on Tuesday, the world’s second-largest stock exchange, Nasdaq, listed the AI-powered CIX100 index created by crypto data provider Cryptoindex, which uses a neural network algorithm to analyze data for the top 100 cryptocurrencies, taking into account over 200 factors. The “human-free” tool targets both industry newcomers and professional investors.

Meanwhile, United States-based blockchain security firm CipherTrace expanded its crypto intelligence platform to 700 tokens, allowing clients to trace more than 87% of the transactional volume of the top 100 cryptos such as Ether (ETH), Tether (USDT), Bitcoin Cash (BCH) and Litecoin (LTC).

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