Depends whst they’re doing. If they give ‘em the grunt work: post-trade, regulatory, compliance, etc they’ll learn very little about the actual trading techniques and algos.
How about a $19,000-per-month internship this summer?
- Thread starter ETJ
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they are being tested to see if they are worthy of a full time position.
The 19,000 a month is to ensure they get the best recruits. These guys will have offers from Goldman, jpmorgan, and other top firms.
If he's paid $235K a year just to shove around some papers then Citadel's got way too much cash to burn.
They’re sure as hell not going to give them the crown jewels; i.e. access to the repo with their top-performing algos.
Years ago I was at a party and a former Citadel guy got trashed and spilled the beans on some code logic. Pretty mind-blowing. Some of it a little questionable, but definitely not The Maths!!!
They need to run more of these parties and get those Citadel guys wasted so they can spill more beans. LOL
The in-and-out trade logic is pretty amazing, especially the technique used to avoid loss when the market moves against them. Trading in nanos when others are in mcs and even ms enables them to front-run pretty much everyone and everything.
I thought front-running is illegal. So they are basically doing HFT then.
Oh yeah… they’ve got a one-foot fiber connection to the exchange, news parsers, and sensors in place all over the world.
How do you think you’ll fare as a retail trader working in milliseconds when they’re about 100,000x faster than you? Not the most level playing field.
Now you know why I love bonds.
Yes and that's why I don't scalp or daytrade, unless it's forex.
Ever since the arrival of HFT, scalping has been dead.
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Really? I tried algo trading in milliseconds and always got the worst fills. It was killing me.Yes and that's why I don't scalp or daytrade, unless it's forex.