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by consz 2900 days ago
Multiple HFT companies would be top 10 on that list.
3 comments

Except most, if nearly none, are not public companies listed on the S&P 500 (which the article was examining).

Disclaimer: work in finance, have worked in HFT, don't currently.

Neither of the two major publicly traded HFT firms would have made the top 10 if they were in the S&P 500.

http://d18rn0p25nwr6d.cloudfront.net/CIK-0001592386/f7d31d31...

https://www.flowtraders.com/system/files/downloads/Flow%20Tr...

I can imagine some smaller firms making the list. Did you have any specific ones in mind?

The most successful ones won't be publicly traded.
Ok. Optiver was under $1 million per person so wouldn't make the top 10. IMC likely would not have been in the top 10 either.
There's been a lot of consolidation in the HFT sector recently [1]. Back in 2008, when HFT was hot and new, a lot of money was made. But lower post crisis volatility and multiple HFT firms chasing the same opportunities has compressed margins. The party is over...

[1] https://www.thetradenews.com/hft-not-so-flashy-anymore/

I may agree with some of what's written and I completely agree with the overall conclusion, but the writing seems to be pretty low effort.

> Finally Two Sigma Securities, the market making arm of Chicago based quantitative hedge fund Two Sigma, will purchase the options trading business of Interactive Brokers.