441 Citadel report

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Cyrus Anderson andersct

Transcript of 441 Citadel report

Page 1: 441 Citadel report

Cyrus Andersonandersct

Page 2: 441 Citadel report

Products

lInvestment fundslOrder routinglMarket making

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Financials

l14% of U.S. volume in equities, 30% retaill20% U.S. equity-options volumel773m annual revenuel25b in assets managed

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History

lKen Griffin in his dorm at HarvardlStarted with 4.6ml2008 crisis and present-day

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What's hot?

lHigher returns than competitorslTrading in ChinalInternational interest rate swaps market

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The secret stuff?

l Dinners with insiders

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Culture at Citadel

lHedge funds vs bankslWhat recruiters saylTen percent rule

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Competition

lLarge investment funds

lMarket makers

lLarge banks and other buy-side guys

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Up or down?

lRegulations on Wall StlPosition in the industrylBlack swan events

= up