2nd Ex-Citadel Employee Pleads Guilty, Faces 20 Years

Discussion in 'Wall St. News' started by InfoTech, Aug 15, 2015.

  1. InfoTech

    InfoTech

  2. dealmaker

    dealmaker

  3. dealmaker

    dealmaker

    Citadel Securities Settles With Fund Over Secret Algorithm (Bloomberg)
    Citadel Securities reached a truce with a British hedge fund over the attempted hiring of a senior trader, ending a lawsuit that was set to consider the makeup of a secret algorithm. Ken Griffin’s market maker and GSA Capital Partners LLP reached a confidential settlement, GSA said in a statement Thursday. The agreement followed claims that GSA Capital obtained information on a closely-guarded trading strategy when it sought to recruit a former quant researcher, Vedat Cologlu, at Citadel Securities.
     
  4. tayte

    tayte

    So, would anyone like to elaborate on this secret trading steategy?
     
  5. cesfx

    cesfx

    100mil to develop, that is all I can elaborate so far.
     
  6. easymon1

    easymon1

    https://en.wikipedia.org/wiki/Sergey_Aleynikov
    This is a quick fun Audiobook listen involving Sergey and his role in straightening things out for a hell of an edge. At least he wasn't socializing the losses like some people out there, but that's another story. available in audiobook too, lol.
    Your library even has it for download right now at this moment.
    [​IMG]
    Get this one too while you're at it. It entertains and explains a lot about US events covering from the 'family' business through the years right up to up to the Clinton machine. Hats off to the author for getting access to this bad mofo and turning it into a lesson in Teamwork Baby!
    The opening scene to the very last drop.

    [​IMG]
     
    Last edited: Jun 14, 2021
  7. traider

    traider

    The FBI will come after whoever reveals the secrets here
     
  8. tayte

    tayte

    So according to the wiki, https://en.wikipedia.org/wiki/Citadel_LLC, they got 35B of AUM. Their revenue was allegedly 6.7B in 2020, according to https://www.bloomberg.com/news/arti...s-reaps-record-6-7-billion-year-on-volatility.

    With that, their implied trading performance was about 19.1% in 2020. I think it's fair to say most of us here had outperformed that, probably by a wide margin. So what's so special about their "secret strategy"? Maybe it's just a special execution thing to improve scalability.
     
  9. traider

    traider

    You can't compare it like that. They also have other divisions like private equity etc. Just look at virtu numbers for trading and that should give you a better idea
     
  10. tayte

    tayte

    yeah you're probably right. I just didn't find anything else. The virtu numbers are worse, their expected EPS is only like 3% a year...
     
    #10     Jun 15, 2021