“They all hate each other. XTX and Citadel, there’s no love lost between the two heads of them.”
Head of European stock exchange
As part of its “new titans of Wall Street” series, the Financial Times relied on Alphacution to develop two of its biggest stories:
On October 14, 2024, the FT published Nikou Asgari‘s “‘King of the geeks’: how Alex Gerko built a British trading titan” ($) about how Gerko and Zar Amrolia built XTX Markets into a foreign exchange trading powerhouse – and a multi-billion pound fortune…
Alphacution received the opening quote, among others:
“What Alex Gerko has done is next generation, next level. There’s no other example of a high frequency style trading firm starting the way that they did, in London, in foreign exchange . . . and then growing so quickly.”
Paul Rowady, founder of trading consultancy Alphacution Research Conservatory.
Alphacution’s case study, “XTX [Invades] Markets,” (October 2022) is available for individual report purchase. Premium and Enterprise subscribers can access the case study here. A free and downloadable version of the executive summary to that case study is available here.
Then on October 21, 2024, the FT published Nicholas Megaw’s, “How Susquehanna’s Jeff Yass mastered the options game” ($) about how Yass’s obsession with odds spawned a trading giant – and shaped the industry’s approach to markets…
Here, Alphacution received the opening quote after Yass, among others – including data we had assembled from the SEC:
“Most of the viable prop trading firms in the world today had their origins in options, and Jeff Yass is the elder sibling of all of these players. Susquehanna is an extension of Yass’s fascination with probability.”
Paul Rowady, research director at Alphacution and a former portfolio manager at options trader O’Connor & Associates.
Alphacution’s case study, “Susquehanna International Group, LLP,” (July 2019) is available for individual report purchase. Premium and Enterprise subscribers can access the case study here. A free and downloadable version of the executive summary to that case study is available here.
