Hudson River Trading : Head of Risk Management

Hudson River Trading : Head of Risk Management

Hudson River Trading : Head of Risk Management

Hudson River Trading

 (HRT) is a multi-asset class quantitative trading firm, and more specifically a high-frequency trading (HFT) firm, based in New York City and founded in 2002.[2][3] According to the Wall Street Journal, it is responsible for about 5% of all stock trading in the United States.[4]

According to a Wall Street Journal article, although HRT is often classified as engaging in high-frequency trading, it claims to differ from stereotypical HFT firms in several important ways: it holds about 25% of its trading capital overnight (unlike most HFT firms that hold almost nothing overnight), its average holding time is about five minutes as opposed to the sub-second times observed for some HFT firms, and it does less than 1% of its trading in dark pools, the lightly regulated private trading venues under scrutiny from regulators.[4]

HRT head of business development Adam Nunes has defended the company’s (and other HFT firms’) practice of buying fast access to raw feeds of market data from stock exchanges at a price of $180,000 a year, noting that before HFT firms started doing it, the option was also available to, and exercised by, many Wall Street traders.[5]