 | |
| Type | Private |
|---|---|
| Industry | Financial services |
| Founded | July 2009 |
| Founders | Matthew Andresen Jason Lehman Neil Fitzpatrick |
| Headquarters | River Point, Chicago, Illinois, U.S. |
Key people | Matthew Andresen (CEO) |
| Products | Proprietary trading Algorithmic trading High-frequency trading |
| Website | www |
| 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.
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]
Toronto-Dominion Bank, doing business as TD Bank Group, is a Canadian multinational banking and financial services corporation headquartered in Toronto, Ontario. The bank was created on February 1, 1955, through the merger of the Bank of Toronto and The Dominion Bank, which were founded in 1855 and 1869; respectively. It is one of two Big Five banks of Canada founded in Toronto, the other being the Canadian Imperial Bank of Commerce. The TD Bank SWIFT code is TDOMCATTTOR and the TD institution number is 004.
The bond market is a financial market where participants can issue new debt, known as the primary market, or buy and sell debt securities, known as the secondary market. This is usually in the form of bonds, but it may include notes, bills, and so on for public and private expenditures. The bond market has largely been dominated by the United States, which accounts for about 39% of the market. As of 2021, the size of the bond market is estimated to be at $119 trillion worldwide and $46 trillion for the US market, according to the Securities Industry and Financial Markets Association (SIFMA).
TD Cowen, is an American multinational investment bank and financial services division of TD Securities that operates through two business segments: a broker-dealer and an investment management division. The company's broker-dealer division offers investment banking services, equity and credit research, sales and trading, global prime brokerage, outsourced trading, global clearing and commission management services. Cowen's investment management segment offers actively managed alternative investment products. Founded in 1918, the firm is headquartered in New York and has offices worldwide. Cowen claims it is known for successfully identifying emerging industries early on, especially the emerging cannabis industry.
Jefferies Group LLC is an American multinational independent investment bank and financial services company that is headquartered in New York City. The firm provides clients with capital markets and financial advisory services, institutional brokerage, securities research, and asset management. This includes mergers and acquisitions, restructuring, and other financial advisory services. The Capital Markets segment also includes its securities trading and investment banking activities.
Citadel LLC is an American multinational hedge fund and financial services company. Founded in 1990 by Ken Griffin, it has more than $62 billion in assets under management as of December 2022. The company has over 2,600 employees, with corporate headquarters in Miami, Florida, and offices throughout North America, Asia, and Europe. Founder, CEO and Co-CIO Griffin owns approximately 85% of the firm. As of December 2022, Citadel is the most successful hedge fund of all time, posting $65.9 billion in net gains since inception in 1990.
A primary dealer is a firm that buys government securities directly from a government, with the intention of reselling them to others, thus acting as a market maker of government securities. The government may regulate the behaviour and number of its primary dealers and impose conditions of entry. Some governments sell their securities only to primary dealers; some sell them to others as well. Governments that use primary dealers include Australia, Belgium, Brazil, Canada, China, France, Hong Kong, India, Ireland, Hungary, Italy, Japan, Pakistan, Singapore, Spain, Sweden, the United Kingdom, and the United States.
Intercontinental Exchange, Inc. (ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada and Europe, the Liffe futures exchanges in Europe, the New York Stock Exchange, equity options exchanges and OTC energy, credit and equity markets.
PGIM, Inc. (PGIM), formerly known as Prudential Investment Management, functions as the asset management arm of Prudential Financial, an American life insurance company.
High-frequency trading (HFT) is a type of algorithmic trading in finance characterized by high speeds, high turnover rates, and high order-to-trade ratios that leverages high-frequency financial data and electronic trading tools. While there is no single definition of HFT, among its key attributes are highly sophisticated algorithms, co-location, and very short-term investment horizons in trading securities. HFT uses proprietary trading strategies carried out by computers to move in and out of positions in seconds or fractions of a second.
Guggenheim Partners is a global investment and advisory financial services firm that engages in investment banking, asset management, capital markets services, and insurance services.
Clifford Scott Asness is an American hedge fund manager and the co-founder of AQR Capital Management. According to an April 2020 Forbes profile, Asness' estimated net worth was $2.6 billion.
Jane Street Capital, typically referred to as Jane Street, is a global proprietary trading firm. Jane Street Capital employs more than 2,000 people in five offices in New York, London, Hong Kong, Amsterdam, and Singapore. The firm trades a broad range of asset classes on more than 200 venues in 45 countries.
Tradeweb Markets Inc. (Tradeweb) is an international financial technology company that builds and operates electronic over-the-counter (OTC) marketplaces for trading fixed income products, ETFs, and derivatives. Its customers include banks, asset managers, central banks, pension funds and insurance companies. Tradeweb's headquarters are in New York City.
David E. Rutter is an American financial services executive. He is the founder and CEO of enterprise blockchain technology company R3 and the founder and owner of US Treasuries trading platform LiquidityEdge.
MarketAxess Holdings Inc. (MarketAxess) is an international financial technology company that operates an electronic trading platform for the institutional credit markets, and also provides market data and post-trade services. It enables institutional investors and broker-dealers to trade credit instruments, including corporate bonds, and other types of fixed income products.
The Members Exchange (MEMX) is an independently owned, technology-driven stock exchange founded by members to serve the interest of its founders and their collective client base. The founding members, which include nine major financial organizations, claim they seek to transform markets around the goals of transparency, innovation, and competition in order to align exchange services with the interests of market participants. It is a member-formed equities trading platform, and competes with the major equity exchanges: NYSE, Nasdaq, and CBOE.
Citadel Securities LLC is an American market making firm headquartered in Miami. It is one of the largest market makers in the world, and is active in more than 50 countries. It is the largest designated market maker on the New York Stock Exchange. Citadel Securities is a separate entity from the hedge fund Citadel LLC, although both were founded and are majority owned by American hedge fund manager Kenneth C. Griffin. Citadel Securities is expected to eventually move its headquarters from Chicago to Miami, having bought land there to build its new headquarters.
Quantlab is an American quantitative proprietary trading firm headquartered in Houston, Texas. It has additional offices in New York, Chicago, Boston, Austin, Denver and Singapore.
GSA Capital (GSA) is a British quantitative finance investment firm. It focuses on systematic trading across equity, futures, and foreign exchange markets globally. It was previously a hedge fund before transitioning to become a private trading firm in 2021 to focus on better performing strategies.
Global Trading Systems, which uses the trade name GTS, is an American proprietary trading and market making firm headquartered in New York. The firm accounts accounts for 3 to 5 percent of the daily turnover of US equities and has handled over 250 IPO listings since 2013.