Barclays (BCS) has grown the notional value of trades with hedge fund Qube Research & Technologies to over $100 billion, making the fund one of Barclays' largest prime brokerage clients, Bloomberg reported Friday, citing people familiar with the matter.
The figure represents the gross face value of positions and does not account for offsetting trades, the report said.
A Barclays spokesperson said its actual exposure is materially lower after accounting for offsetting positions, netting agreements, collateral and other risk mitigation measures, Bloomberg said.
Barclays and QRT did not immediately respond to MT Newswires' request for comment.
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