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Location Matters When it Comes to Trading
By Chris | March 31, 2008
From an excellent Economist article surveying talent in the asset management industry:
Some quants have a long-term perspective, but many take advantage of the liquidity of modern financial markets to trade very frequently indeed; companies such as AQR, D.E. Shaw, Highbridge and Renaissance often form a substantial portion of daily trading on the New York Stock Exchange. They may aim to conduct their trades in a matter of milliseconds as they try to exploit fleeting anomalies. Some funds put their computer servers very close to stock exchanges for a minuscule reduction in the time it takes for data to be transmitted down the wires.
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