Many traders have been sued by Citadel over the years trying to expose their secret algorithm and other secrets. Clearly, Citadel are trying to do anything and everything to keep these secrets, secret.
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https://www.reuters.com/article/citadel-idUSN0946018920090709
Many traders have been sued over the years trying to expose Citadel's secret algorithm, which Citadel spent over $100m trying to develop.
Clearly, Citadel cannot let this fall into the wrong hands, otherwise the entire market would know of the corrupt market manipulating practices that Citadel are performing.
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https://www.reuters.com/article/citadel-idUSN0946018920090709
Many traders have been sued over the years trying to expose Citadel's secret algorithm, which Citadel spent over $100m trying to develop.
Clearly, Citadel cannot let this fall into the wrong hands, otherwise the entire market would know of the corrupt market manipulating practices that Citadel are performing.
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Please be sure to LIKE, SUBSCRIBE, and turn on them NOTIFICATIONS.
Let me know in the comments if there is anything I can improve on moving forward.
The information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Thomas MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Thomas' videos. If you need such advice, please contact a qualified accountant, solicitor, insurance agent, contractor/electrician/engineer/etc. or financial advisor.
This is not an advertisement of property for sale or not investment advice to purchase any stock mentioned in this video or any other videos and shall not be construed as anything other than an opinion for entertainment purposes only.
Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week!
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Welcome back to the channel everyone today, i want to talk about the traders that have been sued trying to expose citadel connect. We all know that citadel connect is one of their best kept secrets and if those secrets got out, everyone would know about how they root. Buy orders through the dark pools and everyone would be aware of their rampant market manipulation, but guys before i dive into the video. I just want to give a massive shout out to the 1700 of you that are currently doing that notification bell, because you guys are always the first to watch a new video as soon as it's released so guys be sure to drop a like down below subscribe To the channel and ding that notification bell, so that you don't miss another video, just like this one, and now i want to dive straight in with the key information.
So citadel securities sue's rival over alleged trading strategy leak a highly valuable trading strategy developed by citadel securities at a cost of more than 100 million dollars is at the center of a high court. Lawsuit filed by the chicago based market maker against the london rival citadel is suing gsa, capital partners and five senior gsa executives, alleging that they induced a citadel employee to supply proprietary and highly confidential information to gsa. The secret information allegedly includes details of a key citadel trading strategy, which it says, generates many millions of dollars each year in a lawsuit filed at the high court in london citadel says. Core features of its trading strategies include algorithms, which invests vast sums in developing and which are highly confidential.
Citadel alleges that a senior manager and quantitative researcher was induced by gsa to supply sensitive material, including information from one of citadel's trading strategies, which is referred to as the abc strategy. Mr kaloglu was paid 700 000 in 2018 by citadel, but was considering jumping ship in late 2018 to set up a new team at gsa, the lawsuit states, the court documents claim that information allegedly handed over in a hard copy document by mr kloglu, was among citadel's. Most sensitive confidential information relating to certain of its most valuable algorithmic trading strategies citadel is claiming that gsa and the senior executives knowingly received and misused the company's confidential information and were parties to an unlawful means conspiracy. He is asking the high court to award damages and an injunction stopping the use of the information and is seeking details of any profits made using the information.
Another example here is an ex-citadel worker charged with algo theft. Another programmer has been arrested on charges of stealing programming code relating to high-speed trading. This time, a former employee of citadel, the chicago-based hedge fund, a quantitative financial engineer, who'd, been working at citadel since may 2010 was arrested on thursday. According to patrick j fitzgerald, the u.s attorney for northern illinois, mr pugh faces charges of theft of trade secrets in chicago district court. He stands accused of downloading code relating to alphas, which the complaint describes as the building blocks of citadel's high frequency trading algorithms. By putting these codes to use, the us attorney said in the complaint, mr pugh could have significantly dampened the profitability of citadel's own trading. The complaint said that citadel detected, the alleged thefts when mr pugh downloaded unusually large files to his company account the u.s attorney, which worked with the fbi, cited information from mr pugh's friend, who claimed that he disposed of computer hard drives and mr pugh's evidence by throwing Them into a sewage canal, in suburban chicago, the codes to such algorithms, which are increasingly being scrutinized by regulators, who fear that runaway algos could disrupt markets, are highly valuable to trading firms which spend millions of dollars developing models that extract tiny profits from rapid trades. Again.
Last year, in a separate case, a former citadel executive was fined 1.1 million dollars by chicago court for destroying evidence after citadel sued him for breaching non-compete agreements and then finally, a third example citadel, which manages 11 billion dollars and one of whose flagship hedge funds returned An average 20 per year between 1998 and 2006 said it zealously guards the secrecy of its own computer codes. The hedge fund firm said it spent hundreds of millions of dollars to develop strategies, software and hardware or what is sometimes referred to as the secret source of high frequency business court paper show. If the information were obtained by someone else, the company said it would suffer irreparable harm. Clearly, we can see that citadel is closely guarding some of its internal secrets.
Obviously, they don't want to let trading strategies go out into the public because it cost them hundreds of millions of dollars to develop and generates them hundreds of million dollars each and every year as well. If these secrets did get out there, they wouldn't be special. They wouldn't be unique and they wouldn't be nearly as profitable, but also clearly, people that work at citadel recognize that these strategies and these algorithms are normal and aren't fair and are trying to expose the truth. Citadel is trying to do absolutely everything in its power not to let these algorithms get out into the public hands or not to let these secrets become public.
If these secrets did become public, then everyone would know how their citadel connect system works and how their trading algorithms work as well and how buy orders are hidden through the dark pools and much more sketchy goings-on they're trying to hide their market manipulation at all costs. Not wanting to get out into the hands of the public or into the hands of the regulators or into the hands of the government, i'm sure if these closely guarded secrets did get into the hands of the government, the sec would have no choice, but to do Something about it because it'd be so public and so widespread information guys be sure to. Let me know down in the comments below what do you think about citadel's closely guarded secrets? Are they trying to keep rampant market manipulation, a secret and stop those secrets getting out into the public's hands? And what do you think about those traders that have been sued trying to expose those secrets? Do you think they're doing the right thing and trying to get that information out there into the public hands, or should they stop being so nosy and keep their business to themselves? Also guys, if you haven't already consider joining the patreon and the private discord link in the description below to chat about amc and other stocks as well, and as always guys, if you enjoyed this video, be sure to check out some of my others. Alternatively, subscribe to the channel and ding that notification bell, because that way, you'll be alerted when i upload a new video cheers. .
Secret algorithm they take your buy orders that they sold you from shorting the stock. Then reroute all buy orders to their own dark pool. Now with the sell orders they dump open market driving the price down. After price is were it needs to be for a decent profit the shares are bought back and returned to the broker. Rinse and repeat. They can do this any way they want positive or negative effect on the stock price. This goes any way that benefits them. I cannot find any T+ anything rule that lets me know how many days if any when it will affect the market. From what I have found it does not affect the market. let me know any one if you find anything out.
Shows you how corrupt this administration and fbi and doj and sec are…they are well aware of the illegal tactics by h.f. they never do anything unless a lawyer suing the h.f
Shows evidence and forces their hand..even then, sec only fines these criminals and buddies 1 or 2 million….that's $10 to most retali traders.
The SEC and Government are all in the bed together. Nothing is going to come of it. No way in hell they don't know this.. Wall Street has been corrupt from day one!!
There is a Shitadel CFO on the board of directors at the SEC. How is this not insider trading? Red flag!
Democrat Secretary of Treasury Janet Yellen is frequently paid by Citadel for "consulting", another major RED FLAG! There a lot of eyes on this stuff now and the Democrats are trying to pass the "Corrupt Politicians Act" so they can continue cheating on a massive scale and never lose another election. Follow the money…
Is going to be biggest scandal in history of human mankind. Evil comes in so many forms. This time it’s in form of Ken Griffin ..
They are doing the right thing. Citadel are doing elegal trading and the Fed should be made aware.
Someone had made a comment to me yesterday about what you're talking about and I had no idea I thought they were talking about something else. I think that the information should get out to the public and also to The Regulators
Trading with TraderTV live on YouTube is boasting about scalping AMC today. It is to my understanding that scalping and daytrading it hurts or slows the squeeze. If anybody agrees with this please feel free to post a comment on their channel post about trading AMC today. They are openly suggesting for others to trade it as well! If this is true it is a disservice to the ape community (in my opinion) Holding the shares are what is best. If I’m wrong feel free to correct me, otherwise let them hear your thoughts with a comment on their channel today.
I'm still holding even with $30,000 loss, I believe in the cause. I have watched how these hedge funds move into growing company's and short them into oblivion.
Search AMC stock news on google There is a lot of fud from several sources. CNBC, motley fool, the street, yahoo finance. Why so much?
These people are used to manipulate the public. Why are they trying to manipulate people in this direction? Because if they do not the ones that shorted will loose who knows how much!!!
They should go to jail , the traders are knowing that Citidel is doing illegal trading and manipulation
The only thing that should allowed to be considered classified should be military secrets.
People know Citadel manipulates and cheats on order flow and naked shorts but who can stop them? I'm so sick of this. But holding till they cover.
I understand this story to be quite a grey thing, to be honest. Several people took code from Citadell and (at least it sounded that way wanted to create a Citadel 2.0 3.0 4.0). The only reason that this has come to light is that they got sued. If (I am basing the whole logic on the video above) none of them went to the authorities but tried to build their won trading platforms. Then Citadell suing them is right as they stole intellectual property to just profit from it. Maybe I missed it but none of them went out there and blew the whistle hence none should get whistleblower protection as it doesn't sound like any of them planned to in the first place.
The information as such is still interesting and if it wasn't taken to profit financially from it would clearly make a good case for whistle blower protection just not when you first try to make money by copying the process.
Why are they only being fined ? They can pay any money with the money they steal
Fighting Evil Inc. -Continuing my Buy and Hold personal strategy! AMC STRONG -Cheers 🍻
Shitadel is being exposed and eventually these suits against whistleblower will be seen for what they are: retaliatory litigation and it too can be used against them, to prove how corrupt they actually are. This is a marathon, not a sprint. I believe the people they are suing will eventually be redeemed. Though, for the moment they have to eat shit. This is just how it goes with whistleblowing. Hopefully, they have "buried" the money they acquired for their troubles.
Contact your senators. Look them up by your zip code and get their contact info. Demand they enforce the rules with the blatant market manipulation.
im not seeing anything to be sued over, trading strategies arent protected by any law, or am i mistaken?
Nothing like being arrested for calling out a very crooked corrupt HEDGEFUND like SHITADEL. Let their scamming be on blast. PLEASE SEC, STEP IN
Key word steal and theft!!!!! Tried to steal it for their own benefit!!!! Your unbelievable go get a job a cnbc!!!
That were not sued for trying to expose citadel connect!!! Fuck stick the lawsuit was filed because they tried to steal it. Your A FUCKING JOKE!!!!!
the fact the fbi and doj are involved and GOING AFTER HIM for exposing these clowns, should tell you all you need to know. discovery should be interesting.
Haha why they suing? If their strategy was fair an legit then what would be the issue I'm confused? Lmao
"runaway algos could disrupt the market"
so they are the only ones allowed to use algos lmfao?
citadel doesn't completely screw the market as it is?
Forever….everyone would tell you, It's nearly impossible to prove naked shorting, and other corrupt strategies! BUT wow some flunky who downloads their secret could basically do the job! Sounds like one forensic audit would do it!
What do you think about these traders trying to expose Citadel’s secrets? Do you wish they hadn’t been caught and managed to expose them??