FYI: The mood in the markets may be getting grimmer, but in the booming world of exchange-traded funds, people just want to party.
And so it was last month at the $2.8 trillion industry’s annual jamboree in South Florida, where 2,200 investment advisers and fund salesmen came together for three days of hard drinking and product pitching. Against a backdrop of New Orleans jazz bands and poolside schmooze-fests — some call it spring break for the E.T.F. crowd — one event stood out, though.
It was an invitation-only party (crabs, cocktails and a D.J. on a moonlit dock) thrown by Jane Street, a secretive E.T.F. trading firm that, after years of minting money in the shadows of Wall Street, is now pitching itself to some of the largest institutional investors in the world.
Regards,
Ted
http://www.nytimes.com/2016/02/23/business/dealbook/a-new-breed-of-trader-on-wall-street-coders-with-a-phd.html?_r=0Jane Street Website:
https://www.janestreet.com/what-we-do/etfs/
