Hedge fund Parplus said to be source of ABN’s $200m loss
New York-based volatility fund had close ties to defaulted prop shop Ronin Capital
A $200 million loss in ABN Amro’s clearing business stemmed from trades executed by Parplus Partners, an equity volatility hedge fund with close ties to a Chicago-based proprietary trading firm. That firm, Ronin Capital, also defaulted on cleared trades last week.
In a statement released on the morning of March 26, ABN Amro revealed it had incurred a net loss of approximately $200 million “on one of its US clients”.
“The client had a specific strategy, trading US options and futures, and
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