Goldman Sachs Group Inc.: Allston, founded more than a decade ago by futures traders Bob Jordan, Elrick Williams and John Harada, exited the business after deciding to focus on more profitable trading in derivatives markets, according to Dave Lundy, a spokesman for the Chicago-based company, according to Business Week. Allston just lost its chief executive officer, Raj Mahajan, who decided to join Goldman Sachs Group Inc. as a partner overseeing the bank s dark pool and algorithmic-trading businesses. Carlton Jones, chairman and president of Allston, will take over as CEO, a post he previously held from 2011 to 2012, according to an internal memo and High-frequency trading firm Allston Trading LLC has stopped operating in the U.S. stock market. As markets have grown more accustomed to high-frequency strategies, the profit opportunity for such firms has by some accounts shrunk. Companies employing the strategies earn about $1.3 billion annually in U.S. equities, according to a March report from research firm Tabb Group, down from more than $7 billion in 2009.
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