Hans Pieterse will be the new CEO of the option exchange TOM. When Willem Meijer announced to step down, the speculation about his successor began. Interesting to see Hans Pieterse returning to the industry. He’s an expert in the derivative trading industry, has a great network and rich experience as manager.
Why Geneva Trading bought Toji Trading is a strange story. Both firms are modest compared to the titan of the industry, but the takeover still has interesting details. The takeover was announced three months ago.
Geneva Trading not in Geneva
Geneva Trading is a Chicago based trading firm. It has an office for European operations in Dublin. The firm surfaced once on this website. It had a job opening for a nightshift trader. It’s a medium-sized firm, with a headcount around 125. Geneva Trading won’t ring a bell with most people.
Toji Trading former Bank of America traders
Even less of a household name is Toji Trading. The firm was founded in 2003 by former Bank of America traders in Asia. It has offices in Hong Kong, Singapore and Tokyo. While it also has a small presence in Chicago (and received a CME fine), the firm is mainly active in Asia.
Small news on the transfer season in the trading business. People trading jobs and houses. Big houses in Amsterdam and Chicago.
Willem Meijer to step down as ceo TOM
The tall and likable Willem Meijer announced to step down as CEO of The Order Machine, TOM. He was behind the wheel for almost seven years. Back in 2010 the plans for TOM were fuzzy. It has been a succes, TOM has broken the monopoly of Euronext on the Dutch option market.
Almost precisely one year ago the Chinese market nosedived on “black monday“. Dow Jones opened 1000 points lower. The Chinese regulators were uncomfortable with the concept of free markets. The China Securities Regulatory Commission (CSRC) came up with a strange package of measures. The goal was to keep the markets from falling. Selling futures was ill-advised, trading volume dropped 99%.
IMC confirms investigation
All trading firms in Shanghai came under scrutiny. Dozens of traders, investors and journalists were arrested. Police raided offices of foreign trading firms. Everybody is scared of the unpredictable Chinese regulators. Nobody felt like giving public comments about the matter.
Until IMC confirmed to Bloomberg it is undergoing investigation by the Chinese authorities.
Finally, some entertainment news. It was about time for some juicy gossip. After all those serious posts. This is a scoop : Roger Hodenius will marry celebrity Gigi Ravelli. Hodenius is the big man behind Flow Traders.
The wedding will take place on Ibiza on September 24th. The place won’t come as a big surprise. The couple owns a villa on the island. A chartered airplane will fly-in the guests on Saturday.