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Hudson River Trading

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Hudson River Trading LLC
Company type Private
Industry Financial services
Founded 2002  Edit this on Wikidata
Headquarters
New York City
,
U.S.
Products Algorithmic trading [1]
Owner Jason Carroll [2]
Website www .hudsonrivertrading .com

Hudson River Trading is a quantitative trading firm headquartered in New York City and founded in 2002. [3] [4] In 2014, it accounted for about 5% of all trading in the United States . [5] Hudson River Trading employs over 800 people in offices around the world, including New York, Chicago, Austin, Boulder, London, Singapore, Shanghai, Mumbai and Dublin . [6] The firm focuses on research and development of automated trading algorithms using mathematical techniques, and trades on over 100 markets worldwide.

The company is a member of the Principal Traders Group, an advisory group formed by the Futures Industry Association (FIA). [7]

History [ edit ]

On January 16, 2018, Hudson River Trading acquired its rival firm Sun Trading, a global market maker that traded on over 115 exchanges. [8]

In the first quarter of 2021, Bloomberg reported that Hudson River Trading reaped about $1.2 billion from trading, amid heightened market volatility . [9]

Trading [ edit ]

Hudson River Trading is a multi-asset class firm that trades across various time horizons. It differs from stereotypical high-frequency trading firms in several important ways: it holds about 25% of its trading capital overnight (unlike most high-frequency trading firms that hold almost nothing overnight), its average holding time is about five minutes as opposed to the sub-second times observed for some high-frequency trading firms, and it does less than 1% of its trading in dark pools , the lightly regulated private trading venues under scrutiny from regulators. [5]

People [ edit ]

The firm hires programmers, software engineers, and mathematicians to develop and improve its trading strategies. Its head of business development, Adam Nunes, has been cited in a Wall Street Journal article on financial firms' efforts to recruit programming talent away from Silicon Valley and his reasons for optimism about their ability to do so. [10]

Scrutiny [ edit ]

In January 2014, Hudson River Trading and three other quantitative trading firms formed the Modern Markets Initiative, a trade lobbying group. [11] In August 2014, Bart Chilton was added as an advisor to the group. [12] [13]

In March 2014, New York Attorney General Eric Schneiderman announced a probe into high-frequency traders, including Hudson River Trading, getting early access to raw stock market feeds at an annual price of $180,000. [14] Hudson River Trading's head of business development, Adam Nunes, defended the company's business practices in statements made to Newsweek , noting that Wall Street traders also had access to the feeds at the same price and many of them already made use of them. [15]

In July 2014, the Securities and Exchange Commission (SEC) in the United States launched a probe into ten top high-frequency trading firms, including Hudson River Trading. [16]

Media coverage [ edit ]

Hudson River Trading has been covered in the Wall Street Journal , [5] [17] [4] [10] Financial Times , [18] and Newsweek . [15]

See also [ edit ]

References [ edit ]

  1. ^ Patterson, Scott; Rogow, Geoffrey (August 1, 2009). "What's Behind High-Frequency Trading" . The Wall Street Journal .
  2. ^ "BrockerCheck Report" (PDF) . Retrieved Apr 22, 2024 .
  3. ^ "Hudson River Trading" . Retrieved February 16, 2015 .
  4. ^ a b Cave, Tim (November 20, 2013). "A Cheat Sheet on European High Frequency Trading Firms" . Wall Street Journal . Retrieved February 16, 2015 .
  5. ^ a b c Hope, Bradley (October 15, 2014). "Inside Hudson River, the Firm That Does 5% of All Stock Trading. In 2021, it accounts for more than 15% of all trading in the United States" . Wall Street Journal . Retrieved February 16, 2015 .
  6. ^ "Equity trader Hudson River picks Dublin for post-Brexit EU hub" . Irish Times . October 15, 2018.
  7. ^ "Membership" . Retrieved November 9, 2023 .
  8. ^ "Hudson River Trading to buy rival HFT firm Sun Trading" .
  9. ^ "Prop Trader Hudson River Reaps $1 Billion in Frenzied Quarter" .
  10. ^ a b Peterson, Kristina (January 18, 2011). "Battle for Tech Geeks: Street vs. Silicon Valley" . Wall Street Journal . Retrieved February 16, 2015 .
  11. ^ Hope, Bradley; Patterson, Scott (January 5, 2014). "High-Speed Traders Form Trade Group to Press Case" . Wall Street Journal . Retrieved February 16, 2015 .
  12. ^ Hope, Bradley (August 21, 2014). "Former Foe of Speed Traders Now a Consultant" . Wall Street Journal . Retrieved February 16, 2015 .
  13. ^ "HFT 'cheetahs' get Chilton as an adviser" . Financial Times . August 21, 2014 . Retrieved February 16, 2015 .
  14. ^ Johnson, Andrew R. (March 18, 2014). "N.Y. Probes Alleged Advantages Given to High-Speed Traders. Probe Centers on High-Speed Traders Getting Early Access to Data Feed" . Wall Street Journal . Retrieved February 16, 2015 .
  15. ^ a b Leah McGrath Goldman (May 30, 2014). "Is Wall Street Pulling a Fast One?" . NewsWeek . Retrieved February 16, 2015 .
  16. ^ McCrank, John (July 17, 2014). "Exclusive: SEC targets 10 firms in high frequency trading probe - SEC document" . Reuters and Yahoo! Finance . Retrieved February 16, 2015 .
  17. ^ Hope, Bradley (October 15, 2014). "A High-Speed Trader Looks to Slow Down Critics. Hudson River Trading Chief Says HFT Business Is Misunderstood" . Wall Street Journal . Retrieved February 16, 2015 .
  18. ^ Stafford, Phillip; Massoudi, Arash (June 17, 2012). "High speed traders look to restructure" . Financial Times . Retrieved February 16, 2015 .

External links [ edit ]

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