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Barclays boosts QRT prime brokerage relationship to $100bn-plus

Qube Research & Technologies, which manages about $55bn, has seen regulatory assets rise to roughly $575bn, according to its latest March disclosure.

Reported · Written up by our desk · Hedge Funds

Barclays has expanded its trading relationship with Qube Research & Technologies, also known as QRT, to more than $100bn in gross notional positions, underscoring the hedge fund’s growing role in the bank’s prime brokerage business, according to a Bloomberg report. QRT is now among Barclays’ largest prime brokerage clients, and the $100bn-plus figure reflects gross face value before offsetting trades. Barclays said its net exposure is significantly lower after accounting for offsetting positions, netting arrangements, collateral and other risk controls. QRT manages around $55bn and uses a network of banks to support its trading, with relationships spanning about 15 banks for equities and roughly 30 for fixed-income repurchase agreements. Other prime brokers include JPMorgan, Goldman Sachs, Morgan Stanley and UBS. The hedge fund has grown rapidly since it emerged from Credit Suisse in 2018 following a management buyout involving around 100 employees. Its regulatory assets have risen sharply to approximately $575bn, the firm disclosed in March, nearly 65% higher than two years earlier.

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