What Renaissance Tech Has That You Don’t – Institutional Investor
October 20, 2017 \
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Full Article: Institutional Investor
Quantitative hedge fund firm Renaissance Technologies, founded by mathematician James Simons, has had near real-time prices on corporate bonds and other debt for years.
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Pre-trade data can be invaluable, but it is not a substitute for finding the clearing price for the amount you need when you need it. The structure of the fixed income market isn’t actually broken. We have near-zero volatility with historically low rates and capital restrictions creating this problem. While having more data always sounds like a solution, on its own it doesn’t solve those issues.
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