Notes from
https://www.wsj.com/articles/high-frequency-trader-hudson-river-to-execute-retail-stock-trades-11625047200?mod=itp_wsj&ru=yahoo
High-Frequency Trader Hudson River to Execute Retail Stock Trades
2021-06-30
Hudson River Trading LLC
one of the biggest high-frequency trading firms
handles around 8% of daily U.S. stock-trading volume
based in New York
founded in 2002
500 employees around the world
maintains a low profile
a proprietary trading firm that manages its own money and doesn’t take outside capital
active in stocks, options, futures, currencies, bonds and cryptocurrencies
rivals: Citadel Securities, Virtu Financial Inc
major retail wholesalers: Citadel Securities, Virtu, Susquehanna, Two sigma, UBS, Jane Street
Notes from https://www.sikorskaya.net/files/Bryzgalova_Pavlova_Sikorskaya_2023.pdf
pg-3 (of pdf)
although only a fraction of investors trade options, most of the PFOF received by retail brokerages comes from options, not equities
For example, in 2021, U.S. brokerages received \$2.4 billion in PFOF for options and only \$1.3 billion for equities.
The lion’s share of PFOF for options came from only three wholesalers: Citadel, Susquehanna, and Wolverine.
pg-11 (of pdf)
pg-54 (of pdf)