What Does Citadel* Spend on Technology?

Take a deep breath...

Focus your attention...

Now, consider that there are only about five people on the face of the planet who actually know the answer to our opening question - What does Citadel spend on technology? Moreover, someone would likely need to hold one of these folks at gunpoint for that executive to spill those beans.

The same scenario plays out for a firm like Millennium or DRW or Jump Trading or Two Sigma or IMC or any other privately-held manager. Only a hand full of the most senior people at any one of these mythological shops actually knows the answer to the question: What does [manager name here] spend on technology?

Now, if we took one giant step further into the realm of absurdity, and wanted to know what any two or more of these players spend on technology - essentially attempting to answer the question: What does any Manager X spend on technology? - then the odds become significantly more improbable. What are the odds that someone could convince Ken and Izzy (and/or Don and/or any of the others) to disclose that kind of information to anyone outside the smallest of inner-circles?

In fact, odds are there would be virtually no one in a position to find themselves in receipt of what any two (or more) privately-held, highly secretive, and monumentally-successful asset management firms spend on technology. Even a credible estimate of this information - on two or more of these firms - is quite improbable.

That is, until now...

(You know you want to discover what the asterisk as all about anyway...)

And, as always, if you value this work: Like it, share it, comment on it - or discuss amongst your team - and then send us [email protected].

As our "feedback loop" becomes more vibrant - given input from clients and other interested parties, especially around new questions to be modeled - the value of this work will accelerate.

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