It would seem strange to introduce Arcesium—the new technology company formed this week by Blackstone and DE Shaw—by first talking about one of these firms' arch rivals, Chicago-based Citadel.
When Ken Griffin's tech team announced it would begin commoditizing its execution and order management technology around two years ago, it represented a major marker in the space.
Until then, and still today, the traditional thinking about leading hedge funds and proprietary systems usually goes in two par
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