Reported about 1 month ago
In early August, heightened market volatility caused significant losses for several traders at multistrategy hedge funds like BlueCrest and Millennium Management, leading to rapid closures of their trading 'pods.' The swift actions were reportedly part of rigorous risk management practices aimed at mitigating damage, with traders experiencing stop-outs after minimal losses. While markets have since recovered, the incident underscores the strict measures within the hedge fund industry to maintain profitability.
Source: YAHOO