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

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...