Let’s face it, it hasn’t been a remarkable trading year so far. Trading is thin, and margins are decreasing. Van der Moolen spin-off Alphabay is the first victim going down and liquidating their positions. Apparently the start-up by VDM managers burned trough their cash in less than a year. Too many managers and support staff, and a lack of cash earners – is the common judgement according to insiders. The irony is Alphabay is auctioning their derivative positions, after it bought the VDM derivative positions against a huge discount in a messy situation. Sad news for the involved employees.