It’s because he has to.

Griffin, CEO of Citadel, defended the industry as one that has helped market participants and lowered costs, but is also populated by firms that have to jealously guard their strategies and keys to success. “What’s shocking to those of us in the community is how many important ideas can be expressed in two sentences,” Griffin said Wednesday at the Delivering Alpha conference presented by CNBC and Institutional Investor. “Because they are often very simple to record, you have to be careful how you express those ideas.”

In Michael Lewis’ controversial and much-discussed book “Flash Boys” released earlier this year, Citadel was cited in an anecdote for its secrecy. One passage noted that it took an employee five ID card swipes simply to start her day. Griffin said that’s probably about right, but he refused to apologize for the steps his firm takes to guard its intellectual property.

Citadel CEO: HFT firms need to be secretive [CNBC]

20 comments (hidden to protect delicate sensibilities)
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Comments (20)

  1. Posted by guest | July 17, 2014 at 3:02 PM

    oh yeah, well I have to swipe 8 times to start my day.

    -guy who makes everything a pissing contest

  2. Posted by Guesto Joe | July 17, 2014 at 3:11 PM

    To get into UBS at Stamford all you need is to be wearing socks OR shoes

  3. Posted by guest | July 17, 2014 at 3:18 PM

    Hey!

    …but yeah.

  4. Posted by Guest | July 17, 2014 at 3:24 PM

    and this guy testified before Congress as though he was impartial?

  5. Posted by Lester Bangs | July 17, 2014 at 3:24 PM

    This mother fucker tried to burn my god damn dick off!

  6. Posted by guest | July 17, 2014 at 3:42 PM

    Stop commenting.

    -everyone

  7. Posted by nicksfishmktorder | July 17, 2014 at 3:50 PM

    yeah but you also have to walk by 3 smoke shows at 3 reception desks on your way to your desk at 131 s dearborn

  8. Posted by guest | July 17, 2014 at 4:01 PM

    Sucker, I only have to rub mine twice to get my day started

  9. Posted by guest | July 17, 2014 at 4:06 PM

    go on.
    -guy who needs this

  10. Posted by hmm | July 17, 2014 at 4:23 PM

    Have to say, Kenny boy is looking pretty sporty these days. Either he has been exercising and dieting or has AIDS.

  11. Posted by Guest | July 17, 2014 at 4:57 PM

    When someone looks thinner, your default assumption is that they have either been exercising/dieting or have AIDS?

  12. Posted by Guest | July 17, 2014 at 4:58 PM

    And yes, I *know how to use the reply button* I just wasn't paying attention

  13. Posted by Guest | July 17, 2014 at 5:45 PM

    AIDS affecting your focus?

  14. Posted by guest | July 17, 2014 at 5:53 PM

    Did you eat a lot of paint chips as a kid?

  15. Posted by guest | July 17, 2014 at 5:53 PM

    "hmm" guest is clearly going through some personal problems

  16. Posted by Guest | July 18, 2014 at 12:06 AM

    "guest" or "Guest"

    -really good at proof reading

  17. Posted by Captain Oblivious | July 18, 2014 at 10:55 AM

    BNP requires one functioning chromosome and a scarf must match your shirt. No capital markets experience required, you can learn on the fly. Of course we lend to terrorist nations, their money is green just like yours and mine! Mondieu!!

  18. Posted by Somali Pirate | July 18, 2014 at 11:28 AM

    Watch it! BNP laundered all of my money and it came out clean as a whistle after Captain Phillips came out

  19. Posted by Blather | July 18, 2014 at 4:19 PM

    No, hunger.

  20. Posted by Sebastian | July 19, 2014 at 5:24 AM

    What do you think about this investment in Poland? https://www.indiegogo.com/projects/eco-fuel-becom