Citadel, Goldman Spinoff Plan Order And Execution Management Platform

Sep 26 2013 | 10:38am ET

Citadel Investment Group and a Goldman Sachs spinoff say they have the answer to order and execution management problems.

Citadel Technology and REDI Holdings, in which Citadel owns a stake, plan a new service that will combine portfolio management and trading desk systems, creating a seamless platform for trades from inception to clearinghouse. "We believe we have the winning formula," Citadel Techology managing director Stuart Breslow told Reuters.

The order and execution management space is getting increasingly crowded, with about a dozen vendors offering solutions. According to Breslow, the collective fee-pool for such services is about $1.65 billion per year.

Goldman continues to own a stake in REDI, as do Bank of America, BNP Paribas and private-equity firm Lightyear Capital.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR