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

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...