High-frequency trading firm Teza Technologies LLC, whose founder Mikhail “Misha” Malyshev says he made more than $1 billion for Citadel LLC in 2008, is considering whether to also start managing money for outside investors, according to three people with knowledge of the plans.
A funny thing happened after author Michael Lewis released a book portraying high-frequency traders as a bunch of crooks: the stock of the one publicly listed speed trader has rallied. Shares of exchange companies painted as co- conspirators are up, too.
Virtu Financial Inc., the high- frequency trader that announced plans last month to sell shares, will start marketing the offering weeks later than bankers anticipated, two people with knowledge of the matter said.
The average spread between bid and offer prices for some lightly traded U.S. exchange-traded funds widened yesterday as Knight Capital Group Inc., the biggest market maker for ETFs, struggled to survive.