Rumour round up
Most interesting market rumours leave room for a lot of imagination, but won’t fill an entire post – decided to mix everything together.
AFS verus Phanos
The board of the most prominent Dutch broker has been sacked by the main shareholder. FC Utrecht’s shirt sponsor and real estate company Phanos decided to get rid of ceo and founder Michiel Scholten, cfo Herbert Nelissen and chief capital management Roderik Bolle. Press reported a voluntary leave, but nobody believes that. Their entertaining star-analyst Kees de Kort could stay.
All Options
A few months earlier Allard Jakobs bought 5,1 % in the listed custodian bank Kasbank. The reason for this investment remains unclear. Brass-knuckled Jakobs will be a natural fit with stiff upper lip baron Albert Röell, ceo of the Kasbank. Baron Röell coined an excellent idea today; pension funds should relieve banks from the toxic assets. However, he wonders why the Dutch government won’t return his phonecalls..
All Options – KBC
Saturday 6th of June is the annual All Options/KBC soccer tournament. IMC fired all talented soccer players few months ago and will face a difficult Saturday. Kasbank won’t show up as they’re facing a tough cricket match against Banque Insinger de Beaufort. Most bets are placed on the Germans (Eurex) to win the title, again.
Optiver versus tax
While still arguing with US lawyers on manipulating oil prices last year, they have started a lawsuit against the tax authorities in the Netherlands. Conflict this time is the valuation of the option positions. They resist mark-to-market valuation of the outstanding positions, and want to carry profits to the future to save interest. The market maker foresees an impact of 30 million. Legal battle in Haarlem will drag on for ages.
Van der Moolen
From Optiver’s tax situation it’s only a minor step to Van der Moolen. Several sources report a team of a dozen traders (or brokers) left the building in London. A civil war seems to be raging within this company according to a former employee. Casualties include at least two directors, one risk manager and one trader in Amsterdam. A comment over here suggests more trouble is ahead in other departments as well. When sorrows come, they come not single spies, but in battalions.
VdM is down by at least 3 traders.
Optiontraders or daytraders?
option
most of daytraders went away long time ago
option traders in amsterdam ?
next question is " in which office" i presume…
Did Eurex win the All Options tournament again?
IMC won the tournament. So, kudos to Amsterdam Trader for the insightful and entertaining blog. But, just like in trading, stay away from picking winners or losers 🙂
IMC didn't win the All Options football tournament.
KBC Bank from Brussels has beaten IMC in the final after penalties 4-3. Regular time 0-0.
Very well organised tournament by Bennington Consultancy by the way.
AJ is buying into Kasbank so he can enter/have better access to the sec lending market. Sec lending is the key to mm equity options and gambling on corporate actions/m&a. Later he can expand into other banking/clearing activities. Clearing brokers have been underpricing their service for years and are catching on to his trading style only now. So he needs to own or have influence with a bank medium term.
and he needs to try and make money somewhere, as hes not making returns with trading/market making!!
'…not making returns with market making'.
Please, keep your assumptions to yourself!!
everyone knows all options and saen are not good market makers
you can't be serious about the fact that CEO kasbank did an excellent proposal
@Peter, that's irony. And that's why people don't return his calls..