Renaissance Technologies Explained

Renaissance Technologies is an East Setauket, New York-based American investment management firm founded in 1982 by James Simons, an award-winning mathematician and former Cold War code breaker, which specializes in systematic trading using quantitative models derived from mathematical and statistical analyses. Renaissance is one of the hedge funds using quantitative trading — known as “quant hedge funds” — that rely heavily on powerful computers and sophisticated mathematics to guide investment strategies. (Everything Explained Today)

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IEX Stock Exchange Now Open

The highly anticipated IEX stock exchange has finally come to fruition, after its lead role in a book by Michael Lewis called Flash Boys: A Wall Street Revolt. The exchange started trading on Friday with a rather sluggish kick-off, as it opened with just two stocks; Vonage and Windstream Holdings, with many others likely to follow in the coming weeks. (Markets Daily)

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Woman Behind ‘Flash Boys’ Exchange Approval Preps for Next Fight

Nobody at IEX Group Inc. had done more to prepare, amend and defend the company’s application to become a new kind of stock exchange than Sophia Lee, its general counsel. So when the U.S. Securities and Exchange Commission approved the move in a 122-page document delivered late on a Friday in June, Lee’s colleagues who lingered late to hear the news could read the regulator’s verdict in her look of triumph. (Bloomberg)

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