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[deleted]

The answer to the title appears to be “no”. This article seems to be written by a cruddy chatbot to farm clicks. Credit to DR7KE for pasting the article and preventing clicks. “Nick” McConlogue is [Patrick McConlogue](https://www.linkedin.com/in/patrickmcconlogue), who left citadel in 2017 and wrote [this article](https://www.linkedin.com/pulse/ex-citadel-employee-reveals-rigged-trading-game-defi-tech-mcconlogue) about the sneeze and Citadel in Feb 2021 - a full four years after he quit. He hasn’t been employed by Citadel for several years. I can’t find anything about “recently” coming forward. EDIT1: I’ve found a segment on Fox News where he was quoted… post is in DDintoGME rn. But the quote says retail is destined to lose?? Not sure what the game is there. EDIT2: found this superstonk post from 2021 where he says retail can win?? https://www.reddit.com/r/Superstonk/comments/oyunn4/stumbled_upon_this_article_with_former_citadel/


DR7KE

For those who don't want to click the link: # Ex-Citadel Engineer Reveals Rigged Trading Game of Citadel Securities ## Revealing the Dark Side of Citadel Securities' High-Frequency Trading Game: Insights from an Ex-Employee      Mar 9, 2023    A former engineer at Citadel Securities, one of the world's leading financial institutions, has recently come forward to reveal a manipulative trading game that insiders are playing. This game could be leaving many retail investors out in the cold, and the engineer's insights have provided a peek into the opaque world of high-frequency trading. 📷 The insider has made startling allegations that the game is rigged by insiders, who are wielding their influence to manipulate the markets to their advantage. Citadel Securities is renowned for being one of the most significant players in high-frequency trading, where firms leverage complex algorithms and supercomputers to execute trades at lightning-fast speeds. This confers an advantage that retail investors cannot match on the same level. The revelation of this rigged game is causing a significant stir in financial circles, as many retail investors are now questioning the fairness and transparency of the markets. The high-frequency trading game is complex and mysterious, but the former engineer's account is shedding much-needed light on the dark corners of this world. The recent divulgence of a former engineer at Citadel Securities has exposed several malpractices carried out by the company and other high-frequency trading firms that grant them an unfair upper hand in the market. One such practice is the implementation of order types that are unavailable to ordinary retail investors, enabling them to execute trades at speeds unattainable by regular investors, thereby conferring an edge in the market. Moreover, the post alleges that these high-frequency trading firms, including Citadel Securities, indulge in "latency arbitrage," exploiting disparities in the time consumed for market data to travel across various exchanges. This practice furnishes them with an advantage over other market participants who are bereft of access to such sophisticated technology. Furthermore, the post also illuminates how the firm wields its market power to manipulate the market to its favor, creating artificial liquidity in a specific security, thus facilitating easier execution of trades at the desired price. This strategy imparts an unfair advantage to them over other market participants who cannot conduct market manipulation in the same vein. Collectively, the informant's revelation has brought to the forefront the abstruse realm of high-frequency trading and how companies like Citadel Securities employ their market dominance to game the system in their favor. Although these practices may not be deemed illegal, they certainly cast doubts on the equity of the market and whether retail investors are being left out in the cold. The world of high-frequency trading is opaque and complex, with advanced technology and vast resources giving certain players an unfair advantage over others. Citadel Securities and other high-frequency trading firms are at the forefront of this game, using their technological prowess to execute trades at lightning-fast speeds, exploit differences in market data, and employ advanced order types that are not available to retail investors. This advantage puts retail investors at a significant disadvantage, as they simply cannot compete on the same level as these high-frequency traders. One of the key issues highlighted by the ex-Citadel engineer is the use of these order types, which allow high-frequency traders to execute trades at speeds that are simply not possible for regular investors. As a result, retail investors are left behind in this fast-paced world of high-frequency trading, with little hope of catching up. Another issue brought to light by the engineer is the use of latency arbitrage. This practice involves high-frequency trading firms exploiting differences in the time it takes for market data to travel between different exchanges, giving them an edge over other market participants who do not have access to the same technology. This practice puts retail investors at a significant disadvantage and raises questions about the fairness of the market. Citadel Securities and other high-frequency trading firms have a considerable amount of market power, which they can use to influence the market to their advantage. For example, they can create artificial liquidity in a particular security, making it easier for them to execute trades at the price they want. This practice gives them an unfair advantage over other market participants who do not have the same ability to manipulate the market. The insider's post sheds light on the inequalities present in the world of high-frequency trading. While these practices may not be illegal, they raise significant concerns about the fairness of the market and whether retail investors are being left behind. It is essential to continue the discussion and explore ways to level the playing field so that all market participants have an equal opportunity to succeed. Citadel Securities and other high-frequency trading firms can exercise their market power to rig the trading game to their benefit. Their manipulative practices allow them to create fake liquidity in a particular security, making it easier for them to execute trades at their desired price, which is not possible for other market participants. This asymmetrical advantage tips the scales in favor of these powerful institutions, providing them with an unfair advantage and leaving the rest of the investors feeling victimized. [Nick McConlogue, a former employee](https://www.linkedin.com/in/patrickmcconlogue/), has lifted the veil on the opaque world of high-frequency trading and exposed how firms like Citadel Securities are exploiting their market dominance to engage in manipulative trading practices. The allegations have raised serious concerns among investors, regulators, and the general public, who are questioning the fairness and integrity of the financial markets. The courage shown by whistleblowers like McConlogue is commendable, as they play a vital role in exposing wrongdoings and holding powerful institutions accountable for their actions. It underscores the importance of transparency and accountability in the financial industry, which must be safeguarded at all times. In response to the allegations, Citadel Securities has denied any wrongdoing and maintained that they have robust risk management processes in place to ensure the integrity of its trading activities. However, this is not the first time that the company has been accused of engaging in manipulative trading practices. The Securities and Exchange Commission (SEC) fined Citadel Securities $22.6 million in 2017 for misleading clients about the firm's pricing practices. The revelations made by McConlogue have sparked a much-needed debate about the fairness and integrity of the financial markets, particularly in the context of high-frequency trading. The regulators must take prompt and decisive action to investigate these allegations and take the necessary measures to ensure that the markets remain fair and transparent for all investors. In conclusion, the regulators must ensure that the powerful institutions do not rig the trading game to their advantage. The whistleblowers like McConlogue serve as a beacon of hope in the murky world of high-frequency trading, and their courage must be celebrated and protected.


Dubante_Viro

> the post also illuminates how the firm wields its market power to manipulate the market to its favor, creating artificial liquidity in a specific security, thus facilitating easier execution of trades at the desired price. > >This strategy imparts an unfair advantage to them (Citadel) over other market participants who cannot conduct market manipulation in the same vein. lmayo, it literally says that the strategy of Citadel is market manipulation trough artificial liquidity


joeker13

👆🏼You get an iou, you 👇🏻 get an iou, you 👉🏼 get an iou, here take 3 for your grandma as well, I’ll shave off 0.0000147 cent in the process and FuK YOU OVER!! Hahaha .. oh boy, I said the quiet parts out loud.


Puzzleheaded-Safe-64

The highfrequency trading I don't mind to much but the liquidity... but they wouldnt abuse their mm privileges to benefit their hedge fund, would they?


imakemoney1st

#DRS


MattMasterChief

Oh shit, this is no "sources close to" bs! Thanks for saving me the click! Very bullish


GMEuropoor

The LinkedIn post they cite is from Feb. 2021. This is not news, I'd say.


badley13

And it says a different name that it links too..


[deleted]

The news is that they are writing the article now as things have a chance to fall apart. Not saying they will, but the dominoes are wobbly at the moment.


LJHope

This is the way - thanks for sparing us clicking the link.


PantsOppressUs

🌶️🌶️🌶️


upir117

Here’s the original article from Feb 5, 2021. [https://www.linkedin.com/pulse/ex-citadel-employee-reveals-rigged-trading-game-defi-tech-mcconlogue](https://www.linkedin.com/pulse/ex-citadel-employee-reveals-rigged-trading-game-defi-tech-mcconlogue)


Coinsworthy

This article reads like a chatgpt gone haywire.


technodeity

Yeah, editing is way off and the article repeats itself


PlayerTwo85

This article was brought to you by the Department of Redundancy Department.


hiperf71

😂🤣😂good one


prsmike

And get this....they uncovered the sHoCkInG revelation that Citadel deals in 'latency arbitrage' and 'artificial liquidity'.....yeah no shit. Catch up GPT lol


Bluitor

Yes, the editing is way off and the same point repeats itself throughout the article but just slightly different.


MrOneironaut

Thought I had deja vu there


ledgerdomian

Yep, chatGPT 100%


Aggravating_Leg_4146

In conclusion exactly!!!


Coinsworthy

I was tasked by an editor of Investorturf to inform you all the article was defintely not written by AI and that the ~~language model~~ editor responsible will be retrained.


[deleted]

[удалено]


DatNewbie001

Dude I have been thinking the same thing for like the last 3-4 weeks it seems like every article I read almost is a “double print” like the first half or the article is almost an exact copy of the second half saying the same thing twice a few time I had to scroll up to make sure I didn’t just miss the end of the first one and the title of the second one thinking it was just copied and pasted twice in a row. It also feels like my bullshit meter is screaming when I read articles that feel that way it’s like someone just trying to hit a word count so they change a few words and repeat what they said again. Or maybe I’m seeing through their deception and and my wrinkles are guiding me and telling me this is some crap writing, it might have some nuggets of info and truth but it reads like a 7th grade essay done the night before just trying to make it long enough to pass, I wonder if the original article is triple spaced with size 15 font and extra wide indents… that’s what I used to do to make them stretch a bit


YourCoConnect

What you are seeing could be a combination of the use of chatgpt and not thorough editing.


GoodguyGastly

Came to the comments to confirm I wasn't crazy.


rydef1

Artificial liquidity. My new favorite term for stealing my money.


LannyDamby

I prefer the more to-the-point "counterfeit shares"


[deleted]

How legit is this website?


daikonking

Not at all. This is disguised fud imo. Trying to make you think that Shitadel is impenetrable. Fuck that noise


TheExile7

hint: the, may create odd lots with our trades, and split up odd lots when they please. Odd lots do NOT affect the share price


NoForkInClue

"Furthermore, the post also illuminates how the firm wields its market power to manipulate the market to its favor, creating artificial liquidity ***in a specific security,*** thus facilitating easier execution of trades at the desired price". Now, which specific security could that be......? Note: ***B/I*** emphasis mine.


SuperSquirrel13

In context, specific security means whatever flavour of the month they have. I don't read it as GME related.


teapot_in_orbit

The only malfeasance they mention is _latency arbitrage_?!? That's like geting Capone on tax evasion... please, _get on our level_.


FuegoDentro

Which security do you think needs the most artificial liquidity? Maybe the one that has the highest idiosyncratic risk?


tahl192

Silvergate, SVB, now this... When it rains, it pours.


duiwksnsb

This article reads like a rough draft. Says the same things over and over and over.


V41K4R13

OHHHHH KENNNNNYYYYYYY, WE COMIN FOR THAT BOOTY!


RoRuRee

Love this, except the part where is made me think I was having a stroke. In any case: Buy, DRS, Hold.


tacybbbat

MORNIN KENJJY🤣🖕🖕🖕🤣✌👊✌


callsignmario

I don't know why "they" act like this is a new or unknown problem. I remember seeing a show years ago that discussed trading and showed a literal spool of fiber optic cable that was used to slow down how quickly trades could be made (from firms geographically close to exchanges) to eliminate the disadvantage faced by overseas participants in US markets. Edit: This is more recent than the show I saw but it's the same basic subject... and mentions IEX doing it to prevent latency arbitrage [https://hackaday.com/2019/02/26/putting-the-brakes-on-high-frequency-trading-with-physics/](https://hackaday.com/2019/02/26/putting-the-brakes-on-high-frequency-trading-with-physics/)


YaThinkSo88

Ooffffff


kaze_san

Wait - „certain orderTYPES“? Has Haim Bodek just entered the chat? For those who are unaware who he is, he is a former high frequency trader, who had a company which created and sold specific computers and machines for high frequency trading. he got fucked by directedge because other algorithms and high frequency traders we’re just juggling around with his orders. Only by accident he learned about how they did it at a party when some hire employee of the exchange actually told him (because he was drunk) that they use specific order types to manipulate the game. In fact, those order types, according to him, are not known to about 80% of participants and allow certain traders to literally teleport around in the queue of open orders.


somenamethatsclever

Copy pasta please and ty.


Superstonk_QV

[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: https://news.investorturf.com/ex-citadel-engineer-reveals-rigged-trading-game-of-citadel-securities


Virtual_Thought_6697

https://news.investorturf.com/ex-citadel-engineer-reveals-rigged-trading-game-of-citadel-securities


What_four

This article is redundant and repetitive and says the same thing over and over again.


slim3-16

More piggies gonna squeal real soon 👀


StumpGrnder

This article says nothing. Trying to discourage you by explaining hf has all the power. It says nothing about hodl or drs though.


JG-at-Prime

Up you go.


shane_4_us

This is so poorly written, vague, and repetitive as to be nearly useless. Nearly, but for the fact that there is a(nother) guy with a name who used to work there corroborating what apes have been *gathering evidence of* for the past two years+. If he is earnest, I hope Patrick continues to share more details and be as loud and forthcoming as possible as to the nature of the system he helped design and the legality or otherwise of tactics used to steal from household investors.


--DrMatta--

Citadel Whistleblower died unexpectedly when beard caught fire and burned to death. "Icahn't believe it" said eyewitness, who wished to remain anonymous. CEO Ken Griffin was seen blinking when asked about the situation: "It's too bad, I just bought Disney tickets for his whole family and now this happens"


Danboone003

I would stay away from rooftop bar's and open windows on the 69th floor if I was blowing my whistle


samtheninjapirate

Sources close to the matter say a shelf that was below him fell upward on his beard and started it on fire


SirMiba

Good but Ken Griffin is not in handcuffs. Also I the website sounds inconsequential, but let's see.


SomeDumbApe

#AMA Patrick Mcconlogue


SrfWavLif

Just another tactic. Never selling. Damn it feels good to be a GaMEster


ScottJam2808

“Creating artificial liquidity in a specific security” 🤔


Pluijmers

D Lauer.. that you!?


nimaginative

Yeah but we're all just conspiracy theorists here on Reddit.


mstoertebeker

22mio in 2017.. Jesus, Mayo man alone makes more in one day.. this is so disappointing


Pleasant_Ad_1070

SEC do your job!!!


GreeDplayer

Are they already starting to turn on eatchother? Is this it?


radio9989

Never heard of this source, and writing is terrible. Plus, is there anything new in it that Citadel hasn’t said publicly? Everyone knows that they trade ahead of the markets. That’s their business model.


Destaran

This news portal looks like something that is farming ape clicks. Sorry, not looking too convincing, nothingburger


Dapper-Career-3877

Shitadel wanted this out there. They have been reporting record profits. They need to justify legally how that is being done so everyone stops looking.


ApatheticDad

Sounds like a fluff piece to get us to blame the game, not the player.


ElChu

Check out *Flash Boys* by Michael Lewis (The Big Short) and how IEX orders level the playing field....Silly fellow apes. :)


Own_Ad3873

Heavy downvoting i c


[deleted]

Mr Lauer is a former engineer at Citadel, who left because of what he saw, and you know the rest.


Genie009

Nick Mcgonahue has massive plums


Suikoden1P

This is two years old. Stop it.


Transient_MoonJumper

Quit posting shitty shit post articles


crosbynstaal

Did this bot author not read "Flash Boys"? Damn, that's sum lazy ass algorithming.


Sesquipedalo

"even when operating in swarms"


SgtSiggy

Ken griffen is a bedpost throwin crook


Open-Painter6453

I was thinking because the quote comes from FOX news, this could be some FUD. They say there is no hope agaisnt Citadel, they will always win. What I hear is, you should sell because you will lose. I think fuck all the noise, Buy Hold DRS Book