Fintech PR
XTX Markets announces launch of new machine learning division ‘XTY Labs’ headed by Dr. Atlas Wang
LONDON, Feb. 22, 2024 /PRNewswire/ — XTX Markets, a leading algorithmic trading company, is excited to announce the launch of XTY Labs, a new machine learning division to be headed by newly appointed Research Director, Dr. Atlas Wang.
XTY Labs is set to become a hub for elite machine learning researchers and will be home to the new ‘XTY Labs AI Residency Program’, offering researchers short-term AI residency contracts ranging from 6-12 months.
For more details on the program and AI residencies (in terms of the roles and compensation) click here.
The program is designed to provide elite researchers with the freedom, guidance and resources to create cutting-edge machine learning solutions tailored for the complexities of finance.
Award-winning, machine learning specialist Dr. Atlas Wang will lead XTY Labs. He brings a wealth of experience and extensive expertise in machine learning, optimization and AI technologies to the role.
Dr. Atlas Wang, Research Director of XTX Markets’ XTY Labs, commented:
“I am thrilled to join XTX Markets. It’s an honour to lead such a unique division where the brightest minds in AI and finance will converge to redefine the future of algorithmic trading. Our mission is to rapidly turn the latest AI breakthroughs into tangible market advantages, and I eagerly anticipate the revolutionary solutions that will emerge from this truly unique endeavour.
With a world-class team, unparalleled resources, and a culture that fosters pioneering research, the XTY Labs is poised to become the crucible of next-generation financial technologies.”
Dr. Alex Gerko, Founder and Co-CEO of XTX Markets, commented:
“We are delighted to launch XTY Labs and welcome Atlas to the team. This launch is a response to the many queries we have had from exceptional candidates, who may not be ready to take the leap into finance full time.
The program is designed to match the experience of XTX researchers as closely as possible and it’s a fantastic opportunity for some to eventually transition into the core quant team at XTX.
We look forward to supporting and nurturing the AI residents and seeing the developments from XTY Labs in the coming years.”
About XTX Markets, XTY Labs and the AI Residency Program:
XTX Markets is a leading algorithmic trading company and has over 200 employees based in London, Paris, New York, Mumbai, Yerevan and Singapore. XTX provides liquidity in the Equity, FX, Fixed Income and Commodity markets and trades over $250bn a day across markets.
XTX Markets’ expansive research cluster contains 100,000 cores and 20,000 A/V100 GPUs and is growing. We also have 390 petabytes of usable storage and 7.5 petabytes of RAM.
Alongside rich datasets and advanced technological infrastructure we are at the forefront of the crossover of finance and technology.
XTX’s corporate philanthropy focuses on STEM education and maximum impact giving (alongside an employee matching programme). Since 2017, XTX has donated over £100mn to charities and good causes, establishing it as a major donor in the UK and globally.
XTY Labs is designed to be a home for those eager to pioneer the future of algorithmic trading, with a strategic focus on developing and applying novel machine learning techniques to financial data.
The division will be situated in Hudson Yards (New York) where researchers will have the opportunity to explore new ideas and transform their advanced machine learning research into real-world financial solutions, backed by XTX Markets’ expansive research cluster containing 100,000 cores and 20,000 A/V100 GPUs and growing, alongside rich datasets, and advanced technological infrastructure.
Emphasizing practical application, the Lab’s mission is to swiftly integrate successful models into the market, directly enhancing XTX Market’s trading strategies and operations. This direct pipeline from research to implementation establishes the XTY Labs as a premier destination for those looking to make a significant impact in the financial sector through original machine learning research.
XTY Labs is seeking AI Residents with a history of significant contributions to research in elite academic settings, such as PhDs, post-docs, or professorships to join the XTY Labs AI Residency Program. Exceptional machine learning researchers looking to explore how their expertise can revolutionize the finance industry will find fertile ground for research breakthroughs at the intersection of AI and finance within the XTY Labs.
There are two pathways within the AI Resident Program, designed to accommodate professionals at varying stages of their research careers, with both Junior and Senior AI residencies, each tailored to align with the applicants’ research experience and expertise.
Top-performers from the program will have the opportunity to transition into the core quantitative team of XTX Markets in London.
About Dr. Atlas Wang:
Dr. Atlas Wang has been a tenured Associate Professor at The University of Texas at Austin and has held various industry roles, most recently appointed as the new Research Director at XTX Markets. Dr. Wang, with a distinguished academic and professional track record, brings extensive expertise in machine learning, optimization, and AI technologies.
His research focuses on efficiently training and scaling foundational models, model robustness, and generative AI, among other areas.
Dr. Wang has received numerous awards, including the IEEE AI’s 10 To Watch Award, an NSF CAREER Award, an ARO Young Investigator Award, and many other accolades from industry and professional societies.
View original content:https://www.prnewswire.co.uk/news-releases/xtx-markets-announces-launch-of-new-machine-learning-division-xty-labs-headed-by-dr-atlas-wang-302068734.html
DUBAI, UAE, Jan. 9, 2025 /PRNewswire/ — MANTRA, a purpose-built layer 1 blockchain for tokenized real-world assets (RWAs) has signed a US$1 billion agreement with DAMAC Group, a prominent investment conglomerate, renowned for its diversified portfolio that spans across key sectors such as real estate development, hospitality, data centres, and more, to tokenize assets in the Middle East.
The collaboration between MANTRA and the DAMAC Group will enable token-based financing for a diverse range of assets within the group’s extensive portfolio of companies, with a minimum value of US$1 billion.
The DAMAC Group assets will be available in early 2025, exclusively on MANTRA Chain, marking a bold step in leveraging blockchain technology to bring greater transparency, security, and accessibility to DAMAC Group’s wide-ranging assets. This milestone partnership is yet another step in MANTRA’s vision to become the preferred ledger of record for real-world assets.
“This partnership with DAMAC Group is an endorsement for the RWA industry. We’re thrilled to partner with such a prestigious group of leaders that share our ambitions and see the incredible opportunities of bringing traditional financing opportunities onchain,” said John Patrick Mullin, CEO of MANTRA.
Amira Sajwani, Managing Director of Sales & Development at DAMAC, said, “DAMAC is always exploring new technologies to enhance our product offerings. Partnering with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions. Tokenizing our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities.”
The MANTRA and DAMAC Group partnership follows the recent announcement of MANTRA Chain’s Mainnet launch, which went live in October, representing a significant milestone in the integration of traditional finance with blockchain technology.
About MANTRA:
MANTRA is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.
Website | Twitter | LinkedIn | Discord
About DAMAC Group:
The DAMAC Group is the multi-billion-dollar business conglomerate of UAE based Hussain Sajwani. The Group’s investments are divided into seven core areas; real estate, capital markets, hotels & resorts, manufacturing, catering, high-end fashion and data centres.
Some of the Group’s most notable activities include DAMAC Properties, one of the region’s largest property developers, the acquisition of the Italian fashion house, Roberto Cavalli and luxury Swiss jewellery brand de GRISOGONO, the 50-storey development DAMAC Towers Nine Elms in London and a luxury resort in the Maldives.
In a bid to disrupt the global data centre landscape, the Group recently announced plans to build data centres through its digital infrastructure company, EDGNEX Data Centers by DAMAC, across different global locations.
Today, the Group’s global footprint extends across North America, Europe, Asia, Middle East and Africa. With its vision firmly set on growth and expansion, the Group continues in its quest for diversification and business excellence.
Visit us at www.damacgroup.com
View original content:https://www.prnewswire.co.uk/news-releases/mantra-and-damac-group-revolutionize-tokenized-real-world-assets-with-us1-billion-deal-302346789.html
- Transaction marks the EQT Transition Infrastructure strategy’s second highly thematic investment over the past month, to be acquired with capital from EQT’s balance sheet
- Scale Microgrids is a vertically integrated energy company that designs, builds, finances, owns, and operates microgrids and distributed energy assets in North America, with a vision to power the world with distributed energy.
- EQT will support Scale Microgrids along its existing growth journey through significant investments in its commercial processes, tech platform and project execution capabilities, enabling the Company to own and operate billions of dollars in distributed generation assets.
NEW YORK, Jan. 9, 2025 /PRNewswire/ — EQT is pleased to announce that EQT Transition Infrastructure (“EQT”) has agreed to acquire Scale Microgrids (“Scale” or the “Company”), a leading vertically integrated developer, acquirer, owner, and operator of microgrids and distributed energy resources for commercial & industrial, EV fleet, data center, municipal, university, hospital, and agricultural customers, developers and communities, from Warburg Pincus and other existing shareholders.
Headquartered in Ridgewood New Jersey, Scale’s portfolio consists of roughly 250 MWs of operating and in-construction assets, with another 2.5 GWs of near-term pipeline. Scale deploys a variety of technologies including solar, battery storage, natural gas generators, fuel cell and combined heat and power, and its portfolio represents one of the largest pure-play microgrid portfolios in the United States.
The transaction marks EQT’s first North American investment out of its recently launched Transition Infrastructure strategy, which is aimed at scaling businesses that enable the transition to clean energy and a more resource-efficient, circular economy. In December 2024, EQT announced the launch of the strategy and its inaugural investment in ju:niz Energy, a battery energy storage system developer and operator.
Jan Vesely, Partner and Head of EQT Transition Infrastructure, said: “We are thrilled that Scale Microgrids will become EQT Transition Infrastructure’s first investment in North America, underscoring our commitment to driving the energy transition globally and supporting a decarbonized and climate-resilient future while addressing the accelerated electricity demand in North America. We see enormous potential to accelerate Scale’s growth and establish it as one of the market’s leading vertically integrated energy companies.”
Ryan Goodman, CEO of Scale Microgrids, said: “Today marks the start of an exciting new chapter for our company. EQT brings a depth of experience, resources, and capital that will enable us to continue pursuing our vision to power the world with distributed energy. I’m incredibly proud of what our team has built, and believe this transaction will enable us to unlock even greater opportunities for the customers, employees, and communities we serve. We’re appreciative of our past shareholders, led by Warburg Pincus, for their support in helping us get to where we are today.”
Scale addresses several of today’s most pressing grid challenges, including rapid load growth from data centers and fleet electrification, power generation capacity constraints, and increased frequency of grid outages. Scale’s assets add resiliency to power systems, enable faster access to power relative to extended interconnection wait times, and provide cost savings and predictable power compared to the grid while advancing customers’ decarbonization and sustainability objectives.
Ryan Dalton, Managing Director at Warburg Pincus, said: “Scale has achieved incredible growth over the past five years, establishing a strong reputation as one of the leading providers of next generation power infrastructure. The Company has successfully grown to nearly 3 GW of operating, in-construction and near-term pipeline assets, closed multiple financings to fund future project development and maintains a strong customer base. We look forward to watching the Company’s next phase of growth with EQT, and continuing their mission to provide cleaner, cheaper and more reliable power.”
EQT brings a long-term strategic focus, deep experience in investing across the renewables infrastructure sector, and significant resources, and will focus on making strategic investments, including incremental capital, in Scale’s commercial processes, software systems, and project execution capabilities to continue to develop the business into a best-in-class, multi-technology energy services leader focused on the highest growth market segments, enabling Scale to own and operate billions of dollars in distributed generation assets.
The transaction is subject to customary conditions and approvals.
EQT was advised by Weil, Gotshal & Manges (legal) and Guggenheim Securities (financial). Scale Microgrids was advised by Latham & Watkins (legal), Nomura Greentech (financial), and Truist Securities (financial).
Contact
EQT Press Office, [email protected]
Warburg Pincus Press Office, Sarah Bloom, [email protected]
Scale Microgrids Press Office, Nicole Green, [email protected]
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/eqt/r/eqt-to-acquire-distributed-energy-company-scale-microgrids,c4089266
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View original content:https://www.prnewswire.co.uk/news-releases/eqt-to-acquire-distributed-energy-company-scale-microgrids-302347019.html
JAKARTA, Indonesia, Jan. 9, 2025 /PRNewswire/ — PT Bank Rakyat Indonesia (BRI) Persero Tbk. (IDX: BBRI) presents the #BRImoWorldXperience, expanding BRImo’s cross-border capabilities. The super-app also reinforces BRI’s leadership in financial digitalization, with nearly 99% of transactions now digitized. As of November 2024, BRImo users reached 38.1 million, an increase of 22.9% year-on-year. Meanwhile, BRImo recorded a transaction value of IDR 5,057 trillion, driving BRI’s business with an IDR 2.64 trillion fee-based income poised for continuous growth. “With an impressive rating of 4.7 on the Play Store & App Store, BRImo was Indonesia’s most-downloaded mobile banking app in 2024,” said Andrijanto, BRI’s Director of Retail Funding and Distribution.
As the preferred mobile banking app for Indonesians, BRImo provides fast, secure, and convenient access to global banking, putting seamless international transactions directly at the user’s fingertips. BRImo can be used anytime, anywhere, even while traveling or living abroad, ensuring you stay connected to your banking needs without interruption. BRImo also provides the feature to open a BRI account for Indonesian citizens abroad using their local mobile phone number. This feature allows users to seamlessly manage their overseas banking needs without changing their phone number. Supported locations include Hong Kong SAR, Japan, South Korea, Kuwait, Malaysia, Saudi Arabia, Singapore, Taiwan region, Timor Leste, the United Arab Emirates, and the United States. BRImo also offers fast and secure money transfers to bank accounts in over 160 countries.
Another enhancement is BritAma Valas (foreign currency) account management through BRImo. In addition to international money transfers, BRImo users can now save, convert, and top up foreign currency balances, making international transactions easy, safe, and fast. This feature offers seamless currency conversions with real-time exchange rates and competitive pricing. BritAma Valas account holders can also manage a BRI Multicurrency Debit Card directly through BRImo. The card, which can be collected from any BRI branch in Indonesia, allows users to conduct transactions in 12 currencies (USD, AUD, SGD, CNY, EUR, AED, HKD, GBP, JPY, SAR, THB, MYR), simplifying cross-border banking.
To further enhance user’s value, BRImo actively offers exciting promotions. Users can participate in BRImo FSTVL for a chance to win 5 units of BMW 520i M Sport, other luxury vehicles, 100,000 instant prizes, and weekly prizes in Friday Deals. Join now at http://bbri.id/brimofstvl.
For more information on BRImo, visit: www.bri.co.id/en/home
Photo – https://mma.prnewswire.com/media/2594391/2_BRImo_Cover_Article__R2__new_HIRES.jpg
View original content:https://www.prnewswire.co.uk/news-releases/brimo-mobile-banking-a-worldwide-simplicity-in-your-hand-302347017.html
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