Headlands Technologies: Return of the Pioneers

In this 33-page, 32-exhibit case study, “Headlands Technologies: Return of the Pioneers," Alphacution details the paradox of one of the newest liquidity providers in US equities while simultaneously being one of its most consequential pioneers. Follow Matt Andresen's journey from Island ECN to the early incarnation of Citadel Securities to the launch of Headlands, where he and team spent a decade - racking up success after success as a liquidity provider in other products, asset classes, and regions - before returning to US equities, where it all began... Competitors should pay close attention...