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MIT defines an algorithm in one sentence that changes how you think about trading"a computational procedure that takes an input and produces an output through a well-defined sequence of steps"that's it. not AI. not machine learning. not a black boxa set of rules that takes data in and spits a decision outevery quant strategy ever built is just an algorithmCitadel's execution system that routes 40% of US equity volume is an algorithmRenaissance's Medallion Fund running millions of trades per year
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