Hilbert Group acquires high-frequency trading platform Enigma Nordic for $32 million

PANews reported on December 21 that Hilbert Group (HILB), a Swedish investment firm focused on connecting traditional and digital assets, has acquired high-frequency trading platform Enigma Nordic for $32 million. This acquisition will help Hilbert offer systematic cryptocurrency products to institutional investors, and the firm plans to integrate Enigma's platform into its hedge fund offerings.

The announcement stated that Enigma's proprietary platform employs a data-driven, market-neutral strategy, fully leveraging the inefficiencies of real-time pricing in the global digital asset market. The company's quantitative strategies have generated exceptional risk-adjusted returns, with a Sharpe ratio exceeding 3.0—a performance metric extremely rare among globally scalable market-neutral digital asset strategies. As of 2025, Enigma's trading volume exceeded SEK 50 billion (approximately USD 5.4 billion).