Citadel Securities, Fidelity Digital Assets and Charles Schwab are backing a crypto exchange called EDX Markets, the new company announced Tuesday. Bloomberg first reported the creation of the exchange, which has yet to launch. The new exchange will be targeted to both retail and institutional investors and announced that Jamil Nazarali, the former global head of business development at...
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Where Did All the Traders Go? Investment Funds Lean on Outsourcing to Cut Costs

More and more investment funds are outsourcing their trading, a move that cuts costs and aims to boost returns but also poses risks for the funds’ portfolios and underlying investors. Once a niche Wall Street business that catered to young hedge funds, outsourced trading has now attracted mutual funds, pension funds and other asset managers, including some of the biggest firms on Wall...
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