Name: Watch Citadel's high-speed trading in action
Uploaded: 2025-05-22T16:44:50.000Z
Duration: 2 min 51 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

It's the moment investors around the world wait for.

Adverbs of manner

Inside Citadel's Chicago headquarters, it's eerily quiet.

Even though this firm trades more stocks every day than the New York Stock Exchange.

No, yep, two minutes to open, so we're about to get going here.

Is there any equivalent of a bell that we're going to hear or see?

We're just going to hear the air conditioning above us.

The equivalent of the NYSE's opening bell is just this: millions of orders that have been waiting all night for the markets to open are rapidly filled by Citadel's computer programs.

So we're popping through a lot of volume right now.

You can see how quiet it is, the phone's not even ringing, clients are happy.

You know, if there was ever an issue, obviously we would spot it first and the phones would light up.

We have executed 21 million shares already.

Wow, and we are not even three minutes in.

Here, computers like these do the heavy lifting.

Citadel's employees with PhDs in applied math, physics and engineering.

And the people who manage the trading floor here, mostly look for computer glitches and talk to customers.

So they're not making any decisions with respect to whether an order should be filled, what price it should be filled, that's all done in an automated way.

When you click send from your TD Ameritrade account.

There's a good chance that Citadel's computers see it.

Then they either fill your order or send it out to the Byzantine network of 13 exchanges and 20 plus dark pools to execute it.

Dark pool is is really it's an unfortunate terminology that the industry created.

And really a dark pool is nothing more than a crossing engine.

Now, it's called dark because the whole market doesn't know what you want to buy or sell.

We've seen these market dislocations, is is there is it fair to think of it almost as a technological arms race?

Yeah, you know, I I think it's no different than any other industry.

Uh 100 years ago, there were literally hundreds of car companies across the US.

And there was a lot of smaller companies, over time, manufacturing became very automated, you had factories and you had the the cost of building a factory went up.

We make a big investment in technology to stay cutting edge.

And uh and yes, we're constantly investing our systems to stay at the forefront of technology.