The 2019 CTA Challenge – December Newsletter

Attention CTAs!
Last Days To Register For The 2020 CTA Challenge

Registration and participation are FREE for CTAs in 2020! Commodity Trading Advisors (CTAs) who are interested in participating in the 2020 CTA Challenge should contact Coquest now to get your program registered. Registration period has been extended to December 13th, 2019. Click on the below banner to learn more about the CTA Challenge mission to educate and benefit investors as well as CTAs.

2019 Snapshot

Of the 90 liquid alternative investment programs participating in the 2019 CTA Challenge, we have seen performance range from -40% to +127% ROR since January 1st (gross performance numbers). Just like the futures market prices, the performance moves for CTA managed futures programs have been all over the place.


2020 Preview

We have 105 alternative investment programs already confirmed for the 2020 CTA Challenge. Participating programs have investment account sizes ranging from $50,000 up to $25,000,000. There are market specialist programs trading around only one futures contract as well as global diversified market programs trading over 100 different futures contracts. We have intraday, short term, medium term and long term holding programs. There are systematic and discretionary approaches, some quantitative/technical and some fundamental, with primary strategies deployed in trend-following, arbitrage, global macro, breakout, risk parity, risk premia, volatility or multi-strategy themes. Programs of all shapes and sizes, trading exclusively futures markets, are encouraged to participate.

In a final push to the industry, we are extending the deadline for registration. Please contact Coquest today to get your CTA program added to the list for 2020!


Coquest Boosts CTA Challenge Community With New Media & Content Website

Coquest recently launched an industry central hub website to host research reports, strategy guides, investment manager interviews, index reporting, advisor commentary, data vendor reports, third party industry content and much more. Visit and register for free member access.


The CTA Challenge at a Glance

The unpredictable nature of futures market price moves, both in direction and size, require CTAs to employ hefty risk controls if they want to protect customers from large losses in their investment accounts. In the CTA Challenge, we take a risk-adjusted approach to analyzing and ranking CTA programs to ensure we are evaluating performance and risk numbers achieved as well as performance and risk exposures. We are evaluating “what actually happened” and also looking at “what could have happened”. See below for the most recent top 5 ranked programs year-to-date in the CTA Challenge.


2019 CTA Challenge:

Top 5 Ranking Through The End Of November

#1: Quantica Capital AG / Managed Futures Program *QEP*
#2: County Cork LLC / Acclivity Program *QEP*
#3: Emil Van Essen LLC / Global Tactical Allocation Program *QEP*
#4: AG Capital Investments LLC / Discretionary Global Macro Program
#5: Automaton Trading LLC / Diversified Program *QEP*

See the full current rankings here

CTAs interested in participating, or investors interested in learning more about CTAs and Managed Futures investment strategies, should contact Coquest and the CTA Challenge by Clicking Here.


Featured CTA

Rosetta Capital Management LLC is a Chicago-based commodity trading advisor, offering two distinct investment programs to qualified clients.

The Rosetta Trading Program is a fundamental discretionary grains and meats program. Trades are both relative value and directional depending on what the markets are rewarding. Rosetta uses fundamental supply and demand factors such as inventory levels, government reports and information from producers/suppliers as well as consumers. This last input is sourced from a vast network of industry contracts developed over 30+ years in the industry. In addition, technical analysis is used to help manage trades.

The Macro Trading Program is similar to the above mentioned Rosetta Trading Program, though markets traded extend to financial instruments, stock indices, currencies, precious metals, and energy products in addition to grains and meats.


Featured Sponsor

ADM Investor Services, Inc. (ADMIS) has been a leader in the futures brokerage industry for over 50 years. The company is a registered Futures Commission Merchant known for its financial strength and expert customer service. ADMIS serves a broad base of managed futures professionals and their clients as well as institutional, commercial and retail customers.

Headquartered in Chicago, ADMIS is a wholly owned subsidiary of the Archer Daniels Midland Company (NYSE:ADM). It’s work is supported through a diverse network of institutional and introducing brokers, branch offices and global affiliated companies located in London, Hong Kong, Taiwan and Singapore.


Upcoming Events – Mark Your Calendars!

MFA Network 2020
January 27-29, 2020
The Loews Miami Beach Hotel, Miami Beach, FL

Context Summits
January 29-31, 2020
Fontainebleau Hotel, Miami Beach, FL


2019 CTA Challenge Sponsors