Name: 觀看 Citadel 的高速交易實況 (Watch Citadel's high-speed trading in action)
Uploaded: 2025-05-22T16:44:57.000Z
Duration: 2 min 51 s

It's the moment investors around the world wait for.

這是全世界投資者翹首以盼的時刻。

情態副詞

Inside Citadel's Chicago headquarters, it's eerily quiet.

Citadel 芝加哥總部內異常安靜。

Even though this firm trades more stocks every day than the New York Stock Exchange.

儘管這家公司每天交易的股票比紐約證券交易所還多。

No, yep, two minutes to open, so we're about to get going here.

不，是的，還有兩分鐘就開門了，我們馬上就要開始了。

Is there any equivalent of a bell that we're going to hear or see?

我們會聽到或看到什麼鈴聲嗎？

We're just going to hear the air conditioning above us.

我們只能聽到頭頂上的空調聲。

The equivalent of the NYSE's opening bell is just this: millions of orders that have been waiting all night for the markets to open are rapidly filled by Citadel's computer programs.

這就相當於紐約證券交易所的開市鐘聲：數百萬個徹夜等待開市的訂單被 Citadel 的計算機程序迅速填滿。

So we're popping through a lot of volume right now.

是以，我們現在正經歷著大量的突發事件。

You can see how quiet it is, the phone's not even ringing, clients are happy.

你可以看到這裡是多麼安靜，電話鈴都不響，客戶們都很開心。

You know, if there was ever an issue, obviously we would spot it first and the phones would light up.

要知道，如果出現問題，顯然我們會第一時間發現，電話也會隨之響起。

We have executed 21 million shares already.

Wow, and we are not even three minutes in.

Here, computers like these do the heavy lifting.

在這裡，像這樣的計算機可以完成繁重的工作。

Citadel's employees with PhDs in applied math, physics and engineering.

擁有應用數學、物理學和工程學博士學位的 Citadel 員工。

And the people who manage the trading floor here, mostly look for computer glitches and talk to customers.

而這裡管理交易大廳的人，主要是查找電腦故障和與客戶交談。

So they're not making any decisions with respect to whether an order should be filled, what price it should be filled, that's all done in an automated way.

是以，他們不會就訂單是否應該成交、成交的價格做出任何決定，這些都是自動完成的。

When you click send from your TD Ameritrade account.

當您點擊從您的道明亞美利帳戶發送時。

There's a good chance that Citadel's computers see it.

很有可能是 Citadel 的電腦看到的。

Then they either fill your order or send it out to the Byzantine network of 13 exchanges and 20 plus dark pools to execute it.

然後，他們要麼執行你的訂單，要麼將訂單發送到由 13 個交易所和 20 多個黑池組成的拜占庭網絡中執行。

Dark pool is is really it's an unfortunate terminology that the industry created.

黑池 "其實是業界創造的一個令人遺憾的術語。

And really a dark pool is nothing more than a crossing engine.

實際上，暗池只不過是一個穿越引擎。

Now, it's called dark because the whole market doesn't know what you want to buy or sell.

現在，之所以稱之為 "黑暗"，是因為整個市場都不知道你想買什麼或賣什麼。

We've seen these market dislocations, is is there is it fair to think of it almost as a technological arms race?

我們已經看到了這些市場混亂，是否可以將其視為一場技術軍備競賽？

Yeah, you know, I I think it's no different than any other industry.

是啊，我覺得這和其他行業沒什麼區別。

Uh 100 years ago, there were literally hundreds of car companies across the US.

100 年前，全美有數百家汽車公司。

And there was a lot of smaller companies, over time, manufacturing became very automated, you had factories and you had the the cost of building a factory went up.

隨著時間的推移，製造業自動化程度越來越高，工廠越來越多，建廠成本也越來越高。

We make a big investment in technology to stay cutting edge.

我們對技術進行了大量投資，以保持最先進的技術。

And uh and yes, we're constantly investing our systems to stay at the forefront of technology.

是的，我們不斷投資我們的系統，以保持技術領先。