ING option trader jailed for 16 months

1 comment / September 2, 2015

A few years ago the CME issued a trading ban to a Dutchman, a certain Bob de W., a former trader from ING Bank. In illiquid products on the CME he traded against his own orders. Pocketing € 350k, effectively stealing from his employer ING.

I wrote a small post at the time. Given the US practice of using full names of suspects, the full name of Bob was easy to spot in the corresponding CME ban. Decided to postpone publications until the judge has spoken. And this week, he finally did.

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Rob Defares and Wiet Pot jump on rich list

11 comments / August 14, 2015
Rob Defares

Rob Defares

Rob Defares and Wiet Pot, both at the helm of IMC Financial Markets, will make a great jump on the list of richest men in the country.

Forget the traders with a few million, Defares and Pot are in another league. On the annual Quote 500 rich list of Dutch citizens, Defares used to be estimated at a net worth of €490 million (2014). Last year he ranked number 27.

Modest valuation

Ten spots below Defares we used to find Wiet Pot with €410 million. Both estimates are very modest, as recently both men could divide €312 million on dividend from IMC – in just two years (€160m over 2013, €152m over 2014).

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For those IMC’ers about to marry

12 comments / August 7, 2015

weddingWeddings aren’t my favorite topic to write posts about – the usual little fights between Euronext, Binck and TOM are easier to cover.

But hey, it’s the summertime and I have an invitation I can’t refuse. We have a full IMC Financial Markets wedding this Saturday.

IMC Millionaire getting married

The groom is Ivo Geijsen. Yes, the one topping the IMC Chicago bonus list and one of the richest self made millionaires under 40 in The Netherlands.

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Why Lenterman left IMC

8 comments / August 6, 2015

RemcoLentermanWhen managing directors leave trading firms, it isn’t headline news. However, when Remco Lenterman announced to leave IMC, it’s even a news item on Bloomberg.

Wilbur Ozzy

The big difference is of course the social media activity on twitter, and as a spokesman for the FIA EPTA he caught a lot of airtime. Lenterman has also taken a shot at google plus, secretly under the name of Wilbur Ozzy. But forgot that using his true mail address wasn’t giving a lot of cover.

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TOM Disclaimer

Disclaimer at Binck and TOM

0 comments / August 5, 2015

By order of the court, TOM and Binck are explicitly having a disclaimer on their website. It has been proven the execution for option orders isn’t always the best at TOM.

This situation was a clear case with orders in stocks. DeGiro created clear examples where stock trading at Euronext could give better executions. I always maintained there’s not much wrong with options on TOM – apart from the statistics. So what’s the big deal here?

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