Getting That Second Wind
This is a relatively conservative bet for Citadel since it takes that long for many MTFs to start operating in the black.
What strikes me as odd is Citadel's desire to drive retail order flow to the venue. So far, most of the order flow in competing MTFs is provided predominately by high-frequency traders looking for the arbitrage opportunities against the originating markets. How much volume will Citadel's retail order flow mean to Equiduct?
For Citadel, it is simply a matter of updating its best
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