very interesting read ... if now someone could explain this to me in simple words lol ... what I get is that Timber Hill failed to keep their eyes on the ballgame and better competition took over with better technology.
Well written, impressive research. Not useful directly right now but may lead to more specific conclusions that would help understand a bit better what those firms do and who are the biggest players.
yes, but unless you actually work at one of those firms it's difficult (if not impossible) to know what they really do. One of the things Timber Hill according to rumours was that Timber Hill priced volatility by sector. So if for example people were buying vol in Carrefour, vol in Delhaize and Ahold went up. Not certain this rumour is true however. I always admired Timber Hill but they most somehow lost their edge in the almost three decades they were trading with diminishing spreads.