The battle for the future(s): NYC vs. Chicago

The two quant/HFT juggernauts of the US are hitting the news with a classic rival-type scenario. 

As Financial Times reported NYSE Euronext is doing its best to gain clearing houses in its interest-rate futures market. This realm has long been dominated by the CME Group, but NYSE is stepping into this territory and gaining market share. 

Chicago is generally thought of as a technical, high-speed derivatives-focused town, and New York more of a hedge fund, big money investment city.  They’ve serviced their respective market share and played their role in the community; however, in typical business fashion, NYSE has started this new venture and seeking to grow in a different facet of the market.

For the details of this interesting and exciting development, check out the whole Financial Times article here.

If you want to delve into each city’s crucial trading developments, check out our Quant Invest NY and Quant Invest Chicago events.