Latest news with #CitadelSecurities
Wall Street Journal
21 hours ago
- Business
- Wall Street Journal
The Gensler Surveillance Tax Goes Down
Gary Gensler is back in private life, but his legal losing streak as Chair of the Securities and Exchange Commission continues. On Friday an Eleventh Circuit Court of Appeals panel struck down a tax that his SEC sought to impose on investors to fund a government surveillance scheme. The SEC's Consolidated Audit Trail (CAT) is a classic example of government overreach that the Constitution intended to prevent. The Obama SEC used the stock 'flash crash' in 2010 as a pretext to create this electronic system to sweep up personal information on every stock trader and real-time information on their trades. Regulators claimed such a database would help investigate market manipulation, insider trading and fraud—never mind that Congress hasn't given the SEC authority for such a system. Or that the lack of one didn't impede the Justice Department from bringing criminal charges against the trader behind the flash crash. The Obama SEC handed off the job to build this system to stock exchanges and 'self-regulatory organizations' that supervise brokerage firms. After the cost for this system soared, Mr. Gensler and the Biden SEC sought to stick brokers and investors with the bill. The American Securities Association and Citadel Securities sued.
Yahoo
a day ago
- Business
- Yahoo
What 6 Citadel Securities leaders are reading (or listening to) this summer
A recent newsletter from Citadel Securities included six executives' beach recommendations. Their suggestions get philosophical, ranging from historical deep-dives to the journey of the cell. Here's their chosen media, which includes books, a podcast, and even a YouTube series. For some Citadel Securities leaders, fun in the sun means getting philosophical. A recent newsletter from Ken Griffin's trading firm, which is behind nearly a quarter of all US stock trades, included six executives' beach reads and listens. Their recommendations appeal to a range of potential beachgoers, including everything from diet advice to a 1927 classic to a YouTube series that explains egg freezing. Here are six Citadel Securities executives' summer media recommendations. The Optimist: Sam Altman, OpenAI, and the Race to Invent the Future Matt Culek, the chief operating officer, recommended the book by Wall Street Journal reporter Keach Hagey to anyone who thinks that AI will transform business and daily life — so, basically, everyone. He called it a "compelling account of OpenAI's founding, Altman's leadership, and the fierce competition among leading AI firms." The book, published in May, tracks OpenAI CEO Sam Altman's journey from his childhood in St. Louis, his time at startups, his temporary ouster at OpenAI, and his current leadership. It's based on more than 200 interviews and has 3.97 stars on Goodreads. The Cell: A Visual Tour of the Building Block of Life Chief Technology Officer Josh Woods said that the 2015 book is "as informative as it is visually stunning." Written by the writer and lecturer Jack Challoner, "The Cell" chronicles scientific breakthroughs around life's basic unit, tracking the evolutionary journey from single- to multi-celled organisms. On Goodreads, the book has 4.37 stars. Decisive Moments in History: Twelve Historical Miniatures Shyam Rajan, the global head of fixed income, suggested Austrian writer Stefan Zweig's 1927 classic, which was originally published in German. According to Rajan, the book "thoughtfully captures the catalysts that changed the trajectory of history ranging from the fall of Constantinople to the discovery of the Pacific Ocean." Other vignettes include an affair between a 74-year-old and a 19-year-old, and the story of a man who legally owned a good portion of California. The book has a 4.24 rating on Goodreads. How Not to Die: Discover the Foods Scientifically Proven to Prevent and Reverse Disease It seems like the summer of health for Alex DiLeonardo, the company's chief people officer, who recommended the "eye opening" book about how to prevent chronic illness through nutrition. "Our colleagues take the same optimizing lens to their life that we take to the market," DiLeonardo wrote in his suggestion. Published in 2015 by American physician Michael Greger , "How Not to Die" examines the top 15 causes of prominent diseases. It has 4.42 stars on Goodreads and includes a checklist of the 12 foods Greger thinks we should eat daily. Wind of Change: Did the CIA write a power ballad that ended the Cold War? Dane Skillrud, COO of systematic equities & FICC, recommended a podcast instead of a book. The eight-part miniseries from 2020 is hosted by New Yorker staff writer Patrick Radden Keefe and follows his investigation into whether the CIA wrote the song "Wind of Change" by Scorpion, a German rock band. According to rumors, the CIA wrote the 1990s hit to impact the fall of the USSR. "It's a useful reminder of the importance and power of new ideas, music, and language," Skillrud wrote in his recommendation. The series has 4.8 stars on Spotify. Huge if True: An optimistic show about using science and technology to make the future better For the COO of technology and low latency, Jeff Maurone, summer media means YouTube. He recommended video journalist Cleo Abram's series on the future of technology, saying that "she is a tremendous storyteller who helps me navigate how technology and AI are changing our world." Recent episodes focus on everything from DNA editing to getting sucked into a black hole to egg freezing to interviews with Nvidia CEO Jensen Huang and Meta CEO Mark Zuckerberg. Read the original article on Business Insider
Business Insider
a day ago
- Business
- Business Insider
From Sam Altman to a CIA power ballad: What 6 Citadel Securities leaders are reading (or listening to) this summer
For some Citadel Securities leaders, fun in the sun means getting philosophical. A recent newsletter from Ken Griffin 's trading firm, which is behind nearly a quarter of all US stock trades, included six executives' beach reads and listens. Their recommendations appeal to a range of potential beachgoers, including everything from diet advice to a 1927 classic to a YouTube series that explains egg freezing. Here are six Citadel Securities executives' summer media recommendations. The Optimist: Sam Altman, OpenAI, and the Race to Invent the Future Matt Culek, the chief operating officer, recommended the book by Wall Street Journal reporter Keach Hagey to anyone who thinks that AI will transform business and daily life — so, basically, everyone. He called it a "compelling account of OpenAI's founding, Altman's leadership, and the fierce competition among leading AI firms." The book, published in May, tracks OpenAI CEO Sam Altman 's journey from his childhood in St. Louis, his time at startups, his temporary ouster at OpenAI, and his current leadership. It's based on more than 200 interviews and has 3.97 stars on Goodreads. The Cell: A Visual Tour of the Building Block of Life Chief Technology Officer Josh Woods said that the 2015 book is "as informative as it is visually stunning." Written by the writer and lecturer Jack Challoner, "The Cell" chronicles scientific breakthroughs around life's basic unit, tracking the evolutionary journey from single- to multi-celled organisms. On Goodreads, the book has 4.37 stars. Decisive Moments in History: Twelve Historical Miniatures Shyam Rajan, the global head of fixed income, suggested Austrian writer Stefan Zweig's 1927 classic, which was originally published in German. According to Rajan, the book "thoughtfully captures the catalysts that changed the trajectory of history ranging from the fall of Constantinople to the discovery of the Pacific Ocean." Other vignettes include an affair between a 74-year-old and a 19-year-old, and the story of a man who legally owned a good portion of California. The book has a 4.24 rating on Goodreads. How Not to Die: Discover the Foods Scientifically Proven to Prevent and Reverse Disease It seems like the summer of health for Alex DiLeonardo, the company's chief people officer, who recommended the "eye opening" book about how to prevent chronic illness through nutrition. "Our colleagues take the same optimizing lens to their life that we take to the market," DiLeonardo wrote in his suggestion. Published in 2015 by American physician Michael Greger , "How Not to Die" examines the top 15 causes of prominent diseases. It has 4.42 stars on Goodreads and includes a checklist of the 12 foods Greger thinks we should eat daily. Wind of Change: Did the CIA write a power ballad that ended the Cold War? Dane Skillrud, COO of systematic equities & FICC, recommended a podcast instead of a book. The eight-part miniseries from 2020 is hosted by New Yorker staff writer Patrick Radden Keefe and follows his investigation into whether the CIA wrote the song "Wind of Change" by Scorpion, a German rock band. According to rumors, the CIA wrote the 1990s hit to impact the fall of the USSR. "It's a useful reminder of the importance and power of new ideas, music, and language," Skillrud wrote in his recommendation. The series has 4.8 stars on Spotify. Huge if True: An optimistic show about using science and technology to make the future better For the COO of technology and low latency, Jeff Maurone, summer media means YouTube. He recommended video journalist Cleo Abram's series on the future of technology, saying that "she is a tremendous storyteller who helps me navigate how technology and AI are changing our world." Recent episodes focus on everything from DNA editing to getting sucked into a black hole to egg freezing to interviews with Nvidia CEO Jensen Huang and Meta CEO Mark Zuckerberg.
Bloomberg
4 days ago
- Business
- Bloomberg
Citadel Securities Wins Case Over SEC Audit Trail Funding
Citadel Securities and a group of brokerage firms won a lawsuit against a funding plan for the Securities and Exchange Commission 's market-tracking database. A federal appeals court in Atlanta on Friday declared the funding plan for the so-called Consolidated Audit Trail invalid and sent it back to the SEC for review. It placed its decision on hold so the agency has time to conduct an economic analysis and 'reconsider the allocation of historical and prospective CAT costs.'
Yahoo
5 days ago
- Business
- Yahoo
Wall Street Insiders Are Quietly Hedging -- Should You Be Worried?
The market's on fire. The S&P 500 (SPY) has surged 28% since April 8, volatility is near its lowest level of the year, and earnings season is mostly upbeat. Feels calm. Too calm. Behind the scenes, trading desks at Goldman Sachs and Citadel Securities are urging clients to pick up protectionwhile it's still dirt cheap. According to Goldman, the cost of hedging against a 10% drop is now the lowest it's been since January. If you are nervous, the market is making it very easy to rent hedges, their team told clients Monday. At a time when everyone's buying stocks, Wall Street's most tactical desks are buying insurance. Warning! GuruFocus has detected 6 Warning Signs with XKRX:373220. Why now? Because the next two weeks could get messy. The Fed announces its interest rate decision on July 30. Two days later, President Donald Trump's tariff deadline hits. And on the same day: the July jobs report drops. These aren't just headline eventsthey could shake the entire risk-on mood. BofA's John Tully is telling clients it's time to buy volatility, recommending S&P 500 puts expiring Aug. 22. JPMorgan's Ilan Benhamou suggests shorter-dated options that expire Aug. 1, covering both the jobs data and Trump's potential tariff news. Nvidia (NASDAQ:NVDA) earnings are also on deck, which could swing sentiment even further. Even if nothing breaks this week, some pros say this rally might be running out of road. Citadel's Scott Rubner sees institutional exposure creeping toward overextended levels. That's usually when the smart money starts pulling back. Rubner thinks now is the time to rotate into September hedgesbefore macro risks (and historical patterns) catch up. For context: September has been the worst-performing month for U.S. stocks since 1928. So while the headlines are still glowing, desks that manage billions are getting defensive. The playbook? Use the calm to buy protectionbefore the storm shows up. This article first appeared on GuruFocus.
