hudson river trading
Post on 15-Feb-2017
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History
・ JasonCarroll,Suhas Daftuar,AlexMorocs[2000]・ Firstalgorithmdeployed[2002]・ International[2009]
FinancialInfo
• Privatecompany[sosecretive]• Competitorofsamesizemade~$790M[2015]• 135kbasesalary[NYC]
BusinessModel
· “Market-Makers”· Sellslightlybelowask,buyslightlyabovebid
· Capitalizeonfluctuation[statisticalarbitrage]
WithHFTsWithoutHFTs
SecretSauce
· Don’tcloseflat - holdonto~25%ofcapital· Longholding time- 5min· Culture,culture,culture
Competition
· Noonewillsharetechnicaldetailsso…Company Proprietary
TraderFounder Employs
TradersProfitEstimate
HRT Yes CS/mathmajors No ?
VirtuFinancial No
OwnerofFloridaPanthers
Yes $796M
JumpTrading ? Trader ? “Billions”-
Bloomberg
CitadelNo Hedgefund
manager Yes ?– $25BAUM
References• http://blogs.wsj.com/moneybeat/2014/10/15/inside-hudson-
river-the-firm-that-does-5-of-all-stock-trading/• http://www.forbes.com/sites/billconerly/2014/04/14/high-
frequency-trading-explained-simply/#4d915f17ddad• https://en.wikipedia.org/wiki/High-frequency_trading• http://www.hudson-trading.com/about/• https://www.bloomberg.com/news/articles/2014-07-23/don-
t-tell-anybody-about-this-story-on-hft-power-jump-trading• http://www.investopedia.com/articles/active-
trading/092114/strategies-and-secrets-high-frequency-trading-hft-firms.asp
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