TeaBrain
Joined 4 years ago
Joined 4 years ago
They're saying that the space these companies are competing in literally did not exist. It didn't in the US, maybe not 15 years ago, but 20 years ago it was nonexistent.
Perhaps this may have been true for those who didn't have a university degree. Otherwise, this experience doesn't line up with anyone in my family.
You weren't wrong. All market making is now electronic and all electronic market making is done at a speed only available to HFT firms, so the previous comment reply to yours saying that Jane Street is a market maker but not HFT, is more than a little silly. The Citadel being referred to here in this reporting is also the market making (hence HFT) one, so their attempted correction on that made little sense either.