All articles tagged with #high frequency trading
India has taken a significant regulatory step against Jane Street, one of the largest high-frequency trading firms, accusing it of market manipulation and imposing a trading ban along with seizing assets, signaling a crackdown on sophisticated global traders and potentially impacting the booming Indian derivatives market.
Citadel Securities has hired Herb Sutter, a C++ expert from Microsoft, to lead its C++ training initiatives. Sutter, recognized as a leading figure in the C++ community, will help Citadel's engineers and researchers enhance their proficiency in the language, which is crucial for the firm's trading systems. This move aims to improve system speed and reduce coding errors as Citadel expands into new markets. C++ is vital for high-frequency trading due to its low-level control over hardware and memory, offering speed advantages in competitive trading environments.
Michael Lewis discusses his latest book, "Going Infinite: The Rise and Fall of a New Tycoon," which delves into the mind of FTX founder Sam Bankman-Fried. The book explores topics such as high-frequency trading, cryptocurrencies, philanthropy, bankruptcy, and the justice system. Lewis shares insights into the "story war" surrounding crypto advocates, those who lost money, prosecutors, defense attorneys, and other observers. He also addresses personal questions about his writing process and the impact of his daughter's death. The full conversation is available for streaming and download on various platforms.
Sam Bankman-Fried, founder of Alameda Research and FTX exchange, reportedly lost millions of dollars in the early days of the trading firm. Bankman-Fried raised nearly $170 million from investors in the Effective Altruism community, intending to invest in the crypto markets. However, Alameda suffered significant losses, with over $500,000 lost daily for a month. Poor fund management and unsuccessful trading strategies contributed to the losses. The situation improved when Gary Wang and Nishad Singh joined the firm, implementing a successful quantitative trading system and managing the company, leading to the establishment of FTX.