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CITIC Securities: Views on Platforms, Reinforcement Learning and Interpretability

In his book Principles, Bridgewater founder Ray Dalio said: “Investing is an iterative process where you make a bet, you fail (sometimes painfully), learn something new and try again. In early 2017, CITIC Securities set up an artificial intelligence team to provide its internal institutions with a unified cloud platform for artificial intelligence application development, deployment, and operation, and to provide unified data and computing power. and R&D operating environment. Three years later, the team Song Qunli, Xu Changze, Hu Zhenning, and Zhang Junling jointly wrote the paper "CITIC Securities Intelligent Cloud Platform and Intelligent Cloud Platform".

More

2022-08-17

"2021 China Quantitative Investment White Paper" official electronic version

235 questionnaire surveys of quantitative personnel and qualitative interviews with 8 top institutions, what exactly was investigated and what conclusions can be drawn from it? At the end of 2021, the editorial committee of the 2021 China Quantitative Investment White Paper, consisting of Huatai Securities, Kuanbang Technology, Amazon Cloud Technology, Chaoyang Sustainability, Finelite and other market authorities, recovered these materials and conducted several rounds of internal discussions. The preparation of the first edition was started. It took three months to March 8, 2022, and the first draft of the "2021 China Quantitative Investment White Paper" was completed.

26

2022-04-26

Quantitative Finance Weekly(04.06~04.12)

The investment confidence of the private equity industry has improved. In the context of the overall bottoming out of the A-share market since mid-March, the current private equity industry's overall investment confidence in A-shares has improved significantly. According to the April A-share Investment Confidence Index Monthly Report of Private Fund Managers, as of the beginning of April, the A-share confidence index of private fund managers was 120.11 points, a sharp increase of 7.31 points from the previous month. year highs. Commentary: In the case of exhaustion, the investment confidence of private equity fund managers has been significantly improved. Ten billion private equity earnings in the first quarter were released, and the first quarter ended.

12

2022-04-12

Quantitative Finance Weekly(03.26~04.01)

In the past five years, 27,000 quantitative private equity funds have been issued. Up to now, the total number of domestic quantitative private equity funds issued in the past five years has reached 27,317. Among them, there are 7,647 products under the 30 billion-dollar quantitative private equity products, accounting for 27.99%. The development of domestic quantitative private equity funds has been highly recognized by the market in recent years, which is mainly reflected in two aspects: one is that quantitative private equity has achieved excess returns; the other is that quantitative private equity management scale has increased significantly. (Graph: The proportion of private equity quantification in the total number of private equity funds) Brief comment: There is still a lot of room for the development of quantitative private equity in the future. Quantitative institutions respond to the question of helping the rise and fall

01

2022-04-01

Quantitative Finance Weekly(03.16~03.22)

Guangdong carries out the annual self-inspection of private equity. On March 15, the Guangdong Securities Regulatory Bureau issued the "Notice on Carrying out the Self-inspection of Private Investment Funds in the Jurisdiction in 2022", requiring all private equity fund managers in the jurisdiction to carry out self-inspection according to the requirements of the notice. The deadline is: April 30. The self-examination draft covers seven key contents, including publicity and promotion, fund raising, fund investment, internal control and risk management, information disclosure and submission, and investor suitability. It also pays attention to whether private equity carries out quantitative transactions, involves real estate-related industries, and whether it is engaged in business that conflicts with or has nothing to do with private equity fund management. Brief Comment: Officially opened the Guangdong Private Equity Fund

22

2022-03-22

Quantitative Finance Weekly(03.09~03.15)

Private equity calls for a rational view of quantitative investment. Since the beginning of this year, affected by the market decline, the average loss of quantitative private equity index products has exceeded 6%. Industry insiders believe that in addition to market factors, the poor performance of index products is also related to factors such as changes in the market liquidity environment and crowded strategies. Regarding quantitative investment, private equity said that it can neither be "deified" nor "demonized". Investors should rationally consider and allocate quantitative products. In the future, domestic quantitative private equity has a lot of room for development. Comment: Correctly understand private equity and rationally quantify investment. The industry recommends strengthening quantitative trading supervision.

15

2022-03-15

Quantitative Finance Weekly(03.02~03.08)

Quantitative private equity accelerates strategy iteration. Facing an increasingly “crowded” investment track, more and more quantitative private equity funds are accelerating the pace of strategy iteration. At present, more and more quantitative private equity institutions are cooperating with financial technology platforms. The platform collects and cleans corresponding new data according to the data customization demands of private equity, and helps private equity to accelerate the pace of quantitative strategy iteration. Commentary: The world's martial arts, only fast is not broken! A number of private equity managers of tens of billions of dollars have established their own portals. The latest filing and registration information shows that Shanghai Ruizhi Private Equity Fund has completed the filing, and its leader is Lu Shenlin, a 27-year veteran of the financial industry; Guangzhou Mintou Private Equity Investment Fund has also recently completed the filing.

08

2022-03-08

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