New’n’Closed April 2021


As part of a regular exercise, we scan the NFA register for new and closed managers. This report will be developed over time and will be a recurring feature. We would like to highlight that some of the closures and registrations are due to corporate (re)structuring and do not necessarily indicate that the manager has shut down their trading program.

The number of managers registered with the NFA declined by 9, which is in line with prior months. The number of managers continued to decrease at approximately the average speed since we started to track the business climate for Managed Futures.


The trend is now pretty consistent, in a regular month, some 17 entities withdraw their NFA status. On average, we have 23.5 new entities looking to do business. We also have 40.9 entities that decide to withdraw their registration.


April featured a decrease in the number of managers seeking or doing business under the CTA registration. We observed a decrease in the number of active CTAs, in line with earlier estimates, with a net loss of 9 managers. We observed 22 new managers and 31 managers closed throughout April.

In total, we have 2519 managers either as registered managers or pending registration with the NFA. We have 2025 managers as properly under the NFA’s control. Most of the new managers are “Pending” registration with the NFA. In terms of CTAs, our count is 1357, and for CPOs it is 1245.
One of the key components of our methodology is having a clear view of the industry. We believe this is particularly important in this environment, given the fact that asset raising is more difficult and assets gravitate towards the larger managers.

We observed new managers in the following countries:
Australia [1], Gibraltar [1], Guernsey [1], Israel [1], Slovakia [1], Switzerland [1], United States [16]

The following managers applied for registration in April:
Black Bear Capital Advisors Llc, United States, Illinois, NFA ID 523516 [2021-04-02]
Rock Trading Advisors Ltd, United States, Illinois, NFA ID 531901 [2021-04-11]
Paralos Asset Management Limited, Guernsey, , NFA ID 534372 [2021-04-03]
Ardea Investment Management Pty Ltd, Australia, Nsw, NFA ID 536432 [2021-04-01]
Burrow, Matthew, United States, Arizona, NFA ID 536875 [2021-04-18]
Convexityshares Llc, United States, New Jersey, NFA ID 537696 [2021-04-29]
White Oak Asset Management sa, Switzerland, , NFA ID 537745 [2021-04-08]
Qsquared Technology Llc, United States, New York, NFA ID 537806 [2021-04-25]
Evolution Environmental Asset Management lp, United States, New York, NFA ID 538249 [2021-04-03]
Waveslice Capital Llc, United States, Florida, NFA ID 538347 [2021-04-01]
Headway Management Europe Limited, Gibraltar, , NFA ID 538402 [2021-04-23]
Jdb Investments Llc, United States, Nebraska, NFA ID 538541 [2021-04-01]
Synergy Commodity Llc, United States, New Hampshire, NFA ID 538551 [2021-04-11]
Orca Pod Capital Llc, United States, California, NFA ID 538683 [2021-04-11]
Arbor Circle Group Ltd, Israel, , NFA ID 538850 [2021-04-28]
Auxano Capital Llc, United States, Illinois, NFA ID 538945 [2021-04-20]
Applied Quantitative Methods Llc, United States, California, NFA ID 538974 [2021-04-18]
Dalvix Capital Llc, United States, Florida, NFA ID 539002 [2021-04-22]
Truerisk Capital Llc, United States, California, NFA ID 539040 [2021-04-24]
Vector5 Capital Management Llc, United States, Illinois, NFA ID 539062 [2021-04-24]
Dakota Commodity Consulting Llc, United States, South Dakota, NFA ID 539068 [2021-04-23]
Quanton Solutions Ocpas, Slovakia, , NFA ID 539231 [2021-04-30]

We observed closed managers in the following countries:
Austria[1], Canada[1], Cayman Islands[1], United Kingdom[2], United States[26]

The following managers withdraw their registration April:
Elliott International Capital Advisors Inc, United States, New York, NFA ID 302650 [2021-04-18]
Dalton Investments Llc, United States, California, NFA ID 306302 [2021-04-29]
Rk Capital Management Llp, United Kingdom, , NFA ID 367084 [2021-04-21]
Attia, Amgad Gayed, United States, New York, NFA ID 402124 [2021-04-23]
Kim, Joseph, United States, New Jersey, NFA ID 403434 [2021-04-07]
Bellwether Capital Management lp, United States, New York, NFA ID 404507 [2021-04-21]
Blackheath Fund Management Inc, Canada, Ontario, NFA ID 416822 [2021-04-07]
Dixon Midland Company Llc, United States, Illinois, NFA ID 426697 [2021-04-10]
Tlaloc Capital Llc, United States, Texas, NFA ID 428211 [2021-04-16]
Nuveen Fund Advisors Llc, United States, Illinois, NFA ID 430487 [2021-04-03]
Tse Capital Management lp, United States, New York, NFA ID 456341 [2021-04-25]
Cerebellum Gp Llc, United States, California, NFA ID 459280 [2021-04-02]
Derivative Path Inc, United States, California, NFA ID 462603 [2021-04-17]
Kellner Private Fund Management lp, United States, New York, NFA ID 465063 [2021-04-18]
Riskperform Gmbh, Austria, , NFA ID 467286 [2021-04-09]
Trend Financial Solutions Inc, United States, California, NFA ID 468913 [2021-04-09]
Linnis Llc, United States, New York, NFA ID 482094 [2021-04-24]
Plutus Asset Management Llc, United States, California, NFA ID 486574 [2021-04-28]
Sunflower Service Center Llc, United States, Kansas, NFA ID 488747 [2021-04-17]
Alpha Inception Llc, United States, Texas, NFA ID 491139 [2021-04-07]
Mahopac Capital Partners Llc, United States, New York, NFA ID 491651 [2021-04-18]
Berenberg Asset Management Llc, United States, New York, NFA ID 493800 [2021-04-18]
Apis Capital Management Llc, United States, Florida, NFA ID 510336 [2021-04-07]
Archsight Capital Partners Llc, United States, New Jersey, NFA ID 512116 [2021-04-18]
Acacia Energy Fund Gp Llc, United States, Texas, NFA ID 516931 [2021-04-01]
Olympia Investments, Cayman Islands, , NFA ID 518989 [2021-04-03]
Vincentus Capital Management Llc, United States, Florida, NFA ID 520200 [2021-04-28]
Dymon Asia Uk Ltd, United Kingdom, , NFA ID 530726 [2021-04-18]
J Ganes Consulting Llc, United States, New York, NFA ID 534338 [2021-04-16]
Net Capital Llc, United States, Florida, NFA ID 535075 [2021-04-16]
R Cubed Global Capital Llc, United States, Florida, NFA ID 538257 [2021-04-28]