In July, Ken Griffin paid a record $45mn for a near-immaculate 11-foot tall stegosaurus skeleton called “Apex” — a fitting purchase for a billionaire that many consider the apex predator of finance. In a Sotheby’s press release announcing the sale, Griffin said: “Apex was born in America and is going to stay in America”. It was a heavy hint of Republican-supporting Griffin’s thinly-veiled political ambitions, which are being bankrolled by his estimated $43bn fortune.
“They will tell you that you can trade for free on Robinhood or Ameritrade, but as Milton Friedman always said there is no such thing as a free lunch,” said the head of a rival trading firm. Citadel Securities is now applying the lessons from equities trading to other markets. “Our success was built on exchange market making.