This episode of Riffs represents a case study on proprietary trading (including market-making and high-frequency trading) – using our ongoing analysis of Virtu Financial, including its recent acquisition of KCG Holdings. Here, we begin to frame our broader research on what asset managers – including hedge funds – spend on technology as well as the migration of automation along the entire strategy spectrum.

More details about the publication of Alphacution’s asset manager technology spending study – “The Context Machine” – coming up in Episode 4.

Enjoy…

Director’s Cut with “Public Service Announcement”: