Citadel HFT Vets May Launch Quant Funds

Apr 16 2014 | 2:28pm ET

A controversial high-frequency trading firm founded by Citadel Investment Group veterans may now follow that firm into managing outside money.

Chicago-based Teza Technologies may launch a pair of quantitative hedge funds that would be open to clients, Bloomberg News reports. The firm, founded in 2009, currently invests only its partners money.

It is unclear how much Teza would seek from investors.

The potential move to diversify comes as high-frequency trading firms face greater competition, lower profits and increased scrutiny.

In its short life, Teza has been no stranger to controversy. Citadel sought to block the firm from debuting in 2009, accusing founder Misha Malyshev of violating his non-compete agreement. The same year, it hired Goldman Sachs computer programmer Sergey Aleynikov, who was later arrested for allegedly stealing Goldman’s code.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of