June 14, 2012

GETCO, HFT’s Have Souls Too

GETCO, HFT’s have souls too.

HFT’s are not just algo’s working 24/7 on latency arbitrage, they have souls too and people. And, the people at Getco, one of the largest HFT, are undergoing changes.

Per Bloomberg 
Getco LLC, a Chicago-based automated trading firm, eliminated about 40 jobs last week amid an industry slowdown in transactions, according to a person with direct knowledge of the situation.

Getco’s GetMatched US volumes chart (above) shows the symptoms of the problem.

PIMCO’s Mr Sunshine (aka Bill Gross) talks about the global delevering that is going on currently. And, one of the effects of the delevering is for investors to sit on the sidelines and therefore lower volumes.

Tags: people behind hft, hft people, getco layoffs, getco firings, pimco mr sunshine, pimco bill gross, global delevering, high frequency trader layoffs