Headlands Technologies

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Headlands Technologies LLC
Company type Private
Industry Financial services
FoundedJuly 2009;15 years ago (2009-07)
FoundersMatthew Andresen
Jason Lehman
Neil Fitzpatrick
Headquarters Chicago, Illinois, U.S.
Key people
Matthew Andresen (CEO)
Products Proprietary trading
Algorithmic trading
High-frequency trading
Website headlandstech.com
Footnotes /references
[1]

Headlands Technologies (Headlands) is an American quantitative proprietary trading firm headquartered in Chicago. It has additional offices in New York, Austin, Amsterdam, and Singapore.

Contents

Background

Headlands was founded in July 2009 by three former senior executives from the trading side of the Citadel Group. Matt Andresen was a former co-chief executive at Citadel Securities. At the same time, Jason Lehman was head of Citadel's global options business, and Neil Fitzpatrick was chief operating officer of Citadel Execution Services. The partners secured outside funding to start the firm and set up its quantitative trading operation to trade equities, options, and futures. The trading would be computer-driven, and the firm would not run outside money. At the start, the firm had ten employees. [2] [3] [4] [5]

In 2013, Headlands Tech Global Markets LLC was established to trade Fixed income securities. In 2014, it started trading municipal bonds and focused mostly on lots of $100,000 or less. In 2019, it was reported to execute more than 1,000 trades daily and had an inventory of $400 million. Its technology could generate prices on more than 700,000 bonds. [5] [6]

In March 2021, Toronto-Dominion Bank agreed to buy Headlands Tech Global Markets LLC from Headlands to improve its automated fixed-income trading platform. [6] [7] The deal was completed in July 2021. [8]

In 2022, Headlands had tripled the size of its office in Chicago by leasing floors in other office buildings. [9]

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References

  1. "HEADLANDS TECHNOLOGIES SECURITIES, LLC". brokercheck.finra.org.
  2. Strasburg, Jacob Bunge And Jenny. "Citadel Veterans to Form Computer-Driven Trading Business". WSJ. Retrieved 7 May 2023.
  3. "Former Citadel execs launch fund--WSJ". Reuters. 9 June 2010. Retrieved 7 May 2023.
  4. "Third Act for Matthew Andresen's Career". Institutional Investor. Retrieved 7 May 2023.
  5. 1 2 "Ex-Citadel Quants are Gunning for the $3.8 Trillion Muni Market". Bloomberg.com. 19 March 2019. Retrieved 7 May 2023.
  6. 1 2 "TD to Buy Headlands for Push Into Quantitative Bond Trading". Bloomberg.com. 23 March 2021. Retrieved 7 May 2023.
  7. "TD purchases Chicago-based electronic bond trading platform Headlands". The Globe and Mail. 23 March 2021. Retrieved 7 May 2023.
  8. "TD Bank Group completes acquisition of Headlands Tech Global Markets". IBS Intelligence. Retrieved 7 May 2023.
  9. "Trading firm expanding, moving to Wacker Drive tower". Crain's Chicago Business. 28 August 2022. Retrieved 7 May 2023.