Wall Street’s new trading titans
Behind the Money
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The Rise of Electronic Trading on Wall Street
This chapter examines the transition from traditional trading to electronic systems on Wall Street, emphasizing the rise of non-bank trading firms and their impact on financial markets. It discusses the significant role of market makers, such as Citadel Securities and Jane Street, and how technological advancements have reshaped trading practices. The chapter also highlights the contrasting operational models and compensation structures between non-bank firms and traditional investment banks.
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