Hi,
At this point, we don’t see any evidence to suggest that the recent losses are attributable to the introduction of CAS.
Every algorithm goes through periods of drawdown as part of its normal performance cycle. The recent losses are in line with the natural drawdowns that can occur based on prevailing market conditions and are not something we can directly associate with CAS.
Our research team continues to monitor all strategies closely, including their behaviour after the implementation of CAS. If we observe any consistent pattern indicating that the new market structure is materially impacting an algo’s performance, we’ll evaluate it and take any necessary action through our regular research process.
As of now, the drawdowns being observed appear to be part of the normal risk profile of the strategies rather than an effect of CAS.
Hope this clarifies your concern.