Tradeworx Founder Narang, Industry Defender, Leaves Firm
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Manoj Narang, the co-founder of high-frequency trader Tradeworx Inc. and one of the staunchest defenders of today’s computer-accelerated American equity market, has left the firm.
Narang, 45, said he left the Red Bank, New Jersey-based company and is taking time off before deciding what to do next. Tradeworx has been among the biggest traders in U.S. equities, accounting for as much as 5 percent of daily volume, Narang said in April.