Commentaries

HFT and big dollars

October 2, 2009

There’s more evidence today about the big profitability of computer-driven high-frequency trading.

Citadel’s big Lehman loss

August 24, 2009

It’s long been suspected that Ken Griffin’s Citadel Investment Group took a big blow when Lehman Brothers went bust nearly a year ago. But Griffin and his management team have been reluctant to put a number on the damage to the Chicago-based fund.

Regulators ram Citadel’s gate

August 14, 2009

The Office of Thrift Supervision isn’t known as the world’s most aggressive regulators. In fact, the Obama administration wants to merge it out of existence.

Citadel’s E*Trade Bonanza

August 14, 2009

Citadel Investment Group’s move to aggressively sell off its substantial stake in E*Trade Financial looks like hedge fund magnate Ken Griffin is throwing in the towel on his big gamble on the online broker.

Wall Street meets The Matrix

July 30, 2009

Michael Durbin is no Wall Street rebel. But Durbin, who has been on the front lines of
high-frequency trading (HFT) since its early days, isn’t afraid to buck the industry line that lightning-fast trading of stock, options and commodities poses little or no risk to the stability of the markets.

What’s the frequency, SEC?

July 21, 2009

Sergey Aleynikov is not the Wall Street folk hero that some Goldman Sachs conspiracy theorists are making him out to be.

Citadel joins the Sergey fray

July 9, 2009

Ken Griffin’s Citadel Investment Group just filed a lawsuit against former top trader Misha Malyshev for apparently violating a non-compete agreement he signed when leaving the big Chicago hedge fund earlier this year. Malyshev, of course, is the founder of Teza Technologies, an upstart high-frequency trading hedge fund that hired away alleged Goldman Sachs code-cracker Sergey Aleynikov.

Sergey and Misha

July 7, 2009

The name of the Chicago firm that hired alleged Goldman code-cracker Sergey Aleynikov is out and it’s a name you’ve probably never heard of before. That’s because Teza Technologies LLC is a new firm–formed in May–by former Citadel Investment Group trader Misha Malyshev.