WHY HEDGE FUNDS LIKE CITADEL COMMIT FRAUD π₯ - AMC Stock Short Squeeze Update
111AMC - Why is it that hedge funds/citadel commit fraud or act unethically? especially when there are fines and sanctions in place... this video explains all.
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Citadel recently received a $22m fine for not providing customers with the best price when routing trades, $22m seems like a lot, but lets break down how profitable that could be for citadel.
Citadel either route a customer trade directly into the market or take the other side of the trade at 'the best price'. However, if citadel don't offer the best price, even by 1c, thats 1c profit for citadel.
Citadel route half of Robinhoods orders, with a $350bn annual transaction volume, an average trade size of Β£250 thats 700m transactions that citadel route for Robinhood. Even a 1c profit per transaction is still $7m annual profit.
If Citadel were filling orders 5c worse than the 'best price', thats $35m in annual profits or ill gotten gains. This practice could have been going undiscovered for a number of years as well, just think about that.
So in reality, a $22m fine is small fry compared to the potential $00's of millions of profits that Citadel could have received!
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