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A comment on D.E. Shaw and how computer geeks and English majors transformed Wall St. (2018). Parent comment

Re:D.E. Shaw and how computer geeks and English majors trans... by fractionalhare on Saturday July 25, 2020 @03:52PM (#23951886)
Order flow has been sold for much longer than the more recent commission-free trading trend, which was primarily driven by Robinhood. Robinhood just decided they'd sell order flow without also taking commission.

More to the point: the primary consumer of order flow is market making HFTs, which DE Shaw is not. Stat arb/quant trading firms don't rely on market making rebates for trading profits.

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Re:D.E. Shaw and how computer geeks and English majors trans... by Ntrails on Saturday July 25, 2020 @04:15PM (#23952051)
The suggestion above is that GP simply doesn't believe stat arb is a thing. Which I know to be untrue, or the level of cover up is quite impressive
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