4 ms·
First, i dont consider Citadel, JS, etc "fintech" because they are not in the same line of work. " Fintech, a portmanteau of "financial technology", refers to
by kennend3 4y ago
First, i dont consider Citadel, JS, etc "fintech" because they are not in the same line of work.
"
Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services.
"
This is NOT what people like CIT, JS, etc. do.
So maybe FinTech is being hit very hard, but from what i hear Cit, JS are doing just fine (no real layoffs).
- smabie 4y agoHaha yea FinTech would be a pretty derogotory term to call a HFT firm
- ecshafer 4y agoI agree that Two Sigma, Jane Street, Renaissance, etc. are NOT Fintech. Fintech is a really large umbrella which seems to includes people like Paypal or Bloomberg and things like robotraders or companies that deal with some financial product. Hedge Funds / HFT / Algo traders can be really sophisticated with their technology, but I wouldn't call them "Fintech".