Hidden Giant Trillion Dollar A Year ETF Robot Trader Revealed (02/23/2016)
A story in today's NY Times reveals a trillion dollar a year "Jane Street" trading firm that trades ETF's using computer programs.
It does not higher traders off of Wall Street to run money, instead it looks for computer programs to create robot scripts.
Jane Street, which barely existed 15 years ago and now trades more than $1 trillion a year, was ready to take on the big boys.
Continue reading the main story
Much of what Jane Street, which occupies two floors of an office building at the southern tip of Manhattan, does is not known. That is by design, as the firm deploys specialized trading strategies to capture arbitrage profits by buying and selling (using its own capital) large amounts of E.T.F. shares.
And to the degree that the super-shy Jane Street does have a public face, it belongs to its chief technology officer, Yaron Minsky, who gives frequent lectures at Harvard, M.I.T. and Carnegie Mellon, promoting the firm’s ability to manage risk by developing the best software around.
Full story here.
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