New Foreign Exchange Firm Launches Commodity Trading Advisor

July 13, 2009 ( - Cinneas Foreign Exchange LLC, an alternative investment management firm specializing in momentum based trading in the foreign exchange market, announced the launch of a Commodity Trading Advisor (CTA).

According to a press release, Cinneas actively manages a diversified foreign exchange portfolio using proprietary technical and fundamental methodology developed over its principals’ combined 30 years at Wall Street firms.

The firm follows both long and short term trends in the foreign exchange currency market to provide maximum exposure during large moves, and limiting exposure at turning points. The firm then exploits momentum and applies and manages leverage to realize gains with greater probability, the announcement said.

Recognizing that many investors lack the resources or knowledge to trade the FX market, Cinneas offers a low barrier to entry with a minimum investment of $5,000 with no lock-up period.

The process offers individual and institutional investors both transparency and liquidity. Client funds are not held with Cinneas, but rather with a third-party futures commissions merchant or prime broker. Fees are levied monthly and include 20% of the profit after monthly high water mark, and a 2% management fee.

Cinneas was founded by Morgan Stanley veterans Michael Myrtetus and Douglas Borthwick. Myrtetus was with Morgan Stanley from 1989 until 2007, most recently serving as chief spot dealer. From 2007 to 2008, he was with Barclays Bank where he was brought in as a senior dealer.

Borthwick joined Morgan Stanley in 1996 where he traded Latin American and Asian NDFs, along with G7 forwards and interest rate futures in New York and London, ultimately becoming head trader for the forwards desk and the Asian NDF products. Borthwick then accepted a proprietary trading position at Merrill Lynch, and two years later a position at Standard Chartered Bank.