It was previously a hedge fund before transitioning to become a private trading firm in 2021 to focus on better performing strategies.

[4] In July 2019, Financial Times reported that GSA had created “Alpha Capture” programme that imported human intuition into its algorithmic trading models.

GSA also set up an internal “TradeLab” for deeper parsing of the data, hiring a few of the traders and salespeople as non-quant “discretionary” portfolio managers.

However, GSA stated the suspension was not severe enough and protested by refusing to post prices of its trades on Thomson Reuters' system.

[8] In December 2019, Citadel Securities sued GSA for $40 million over claims it obtained a secret trading strategy from Vedat Cologlu, a senior trader at Citadel Securities who it attempted to recruit while using texts and WhatsApp messages to hide all traces of the plan.

According to Citadel Securities, the automated trading model known as the ABC Strategy cost it $100 million to develop and only 15 of its 3,000 employees had access to it.