Citadel Securities' Trading Engine Runs on 5,000 Goals and One Giant Binder

By Lulu Yilun Chen

Citadel Securities' Trading Engine Runs on 5,000 Goals and One Giant Binder

One of the driving forces behind Citadel Securities, the Wall Street titan that trades $652 billion a day across high-speed networks, is a physical book.

It runs hundreds of pages, bound in a binder using special paper so thick it takes a full day to print. Resembling a corporate grimoire, the tome is roughly the width of an iMac and estimated to weigh 50 pounds. Once complete, the annual "goal book," as it's called internally, is hand-delivered to Chief Executive Officer Zhao Peng, a former math Olympiad prodigy who likes to fill its pages with scribbles, notes and challenges to targets he considers too modest.

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