[mchusma]

Don't know if this is accurate but the entire online stock brokerage industry revenue appears to be about $14B.

That seems like a significantly lower upper bound to the market size here.

That said, what seems interesting here is to come up in advance with many potential arbitrages, and load them in advance for fulfillment if they occur. Risky but interesting than having to roll your own complex tool for this.

https://www.ibisworld.com/industry-statistics/market-size/on....

[lpage]

To clarify, 1T isn't what we're claiming as our revenue opportunity; it's what traders are missing out on annually in the form of portfolio returns due to market friction and missed Pareto outcomes.

(FWIW and not that it's the market that we're going after per se—our strategy is mostly blue ocean—the market for US equities electronic execution services across the whole stack of technology, market data, broker algos, etc., is $18B/yr.)