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Reading Suggestions on Building a Trading or High-Frequency Firm

Article Quant Q&A · Author: Cardinal
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Summary

The document asks for practical accounts of how trading, high-frequency trading, or asset-pricing companies are established, including choices about data sources and hiring. The answers point to a general high-frequency trading book and to firsthand material from people associated with trading firms. One response mentions a founder interview as another source for learning about the experience of starting a firm.

These are pointers to further reading rather than a detailed account of company formation. The discussion does not compare the recommendations, summarize their contents, or establish how current their operational advice is. The suggested book dates from 2010, while the question prefers recent material; the answer treats that preference loosely. Readers seeking concrete guidance on data infrastructure, staffing, or firm setup would need to consult the referenced materials and assess their relevance independently.

Key ideas

  • The request focuses on firsthand and practical accounts of creating trading firms.
  • A book on high-frequency trading is suggested as a source of industry context.
  • A trading founder’s interview and a practitioner blog are offered as firsthand perspectives.
  • The discussion provides recommendations rather than detailed advice on data, hiring, or company operations.
  • The suggested book is older than the question’s preferred timeframe.

Tags

High-frequency tradingMarket microstructureExecution
Full text
# Book recommendation: Starting a trading company


# Book recommendation: Starting a trading company












I am looking for some reading material about entrepreneurs (or insiders) who set up (or observed firsthand) a HFT/trading/asset pricing company, preferably from the last couple of years. How did they set up their data sources, what type of employees did they hire and other practical questions. I am not looking for some popular book that compares quants to rocket scientists (and other likewise popular quotes and page fillers), but rather practical considerations and ideas about setting up such companies. I am not considering setting up such a company myself, but I am interested in the process.

Does anyone know of such a book?

## Answer by Bob Jansen (score 4, accepted)

https://quant.stackexchange.com/a/59052

Interpreting the last couple of years loosely you can look at All About High Frequency Trading (2010) by Michael Durbin.

Matt Hurd at the Meanderful blog has been quite open about his experiences. I don't think the Kickstarter for his book came to fruition though.

## Answer by user42108 (score 1)

https://quant.stackexchange.com/a/59057

You could try https://chatwithtraders.com/ep-198-christina-qi/, which is an interview with a founder of an HFT firm.

Shown in full with attribution under the source's licence. Licence: CC BY-SA 4.0 (Stack Exchange)

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.