Cyprus Business Now

Quant Insight (Qi), a Limassol-based quantitative financial market analytics and trading insights provider, on Wednesday announced that it has entered into a collaborative initiative with Goldman Sachs.

The collaboration will allow Goldman Sachs Marquee, Goldman Sachs’ digital platform for institutional investors, to offer Qi’s data science-driven quant macro analytics.

Goldman Sachs Marquee delivers data, risk analytics, market insights and trading solutions to institutional investors who leverage the platform for research, trade ideas and live market commentary.

The platform is also used to regularly create, monitor and back-test investment strategies and manage risk.

Qi said that through this collaboration, Marquee users will be able to access its intelligence capabilities, while also adding a new layer of macro transparency on securities and markets.

“Macro dynamics continue to be important for global markets, and this collaboration will allow us to harness the latest innovations in data science and analytics to offer clients macro risk management capabilities that can assist in their decision-making process,” Head of Marquee Client Strategy & Distribution at Goldman Sachs Anne Marie Darling said.

“With Qi analytics embedded into Marquee, our clients can benefit from cutting-edge macro insights and signals, adding a critical extra layer to their investment analysis,” she added.

Qi explained that a robust, quantitative and rigorous macro framework is critical in risk management, particularly for equities.

They added that the company’s macro analytics allow clients to more accurately measure the exposure of their portfolios to key macro factors such as real GDP growth, inflation, monetary policy, and financial conditions, among other metrics.

“We are excited to collaborate with Goldman Sachs and to provide easy access to our macro analytics through their platform for institutional clients,” co-founder and CEO of Quant Insight Mahmood Noorani stated.

“A comprehensive, robust and rigorous macro risk management framework is now available to aid their decision-making process,” he added.

The total registrations of motor vehicles recorded a significant increase in May 2022, rising by 28.2 per cent year-on-year, according to a report by the Cyprus Statistical Service (Cystat) released on Wednesday.

However, motor vehicle registrations fell by 6.5 per cent during the first five months of 2022 when compared to the corresponding period of the previous year.

According to the report, the total registrations of motor vehicles amounted to 3,671 in May, compared to 2,863 in May 2021.

Saloon passenger car registrations increased by 34.9 per cent, rising to 2,882, from 2,137 in May 2021.

In addition, the total number of registered vehicles decreased by 6.5 per cent in the period January-May 2022 and reached 14,353, compared to 15,352 during the same period of 2021.

Registrations of saloon passenger cars decreased by 2.3 per cent and reached 11,513, compared to 11,785 in the corresponding period of 2021.

Of all saloon passenger cars registered, 5,108 (44.4 per cent) were new cars, while 6,405 (55.6 per cent) were pre-owned.

Bus registrations increased to 47 in the January-May 2022 period, from 26 in the same period of 2021.

The Cyprus Stock Exchange (CSE) ended Wednesday, June 8 with profits.

The main Cyprus Stock Market Index was at 72.24 points at 13:10 during the day, reflecting a rise of 1.09 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 43.35 points, which represents an increase of 1.12 per cent.

The total value of transactions came up to €44,146.

In terms of the sub-indexes, the main, investment firm and hotel indexes rose by 1.7 per cent, 1.95 per cent and 0.62 per cent respectively.

Conversely, the alternative index fell by 0.1 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (+2.18 per cent), Hellenic Bank (+2.3 per cent), Mallouppas & Papacostas (no change), Leptos Calypso (-3.85 per cent) and Pandora (no change).