Football and other financial news

14 Jun 2012

Threw my orange jersey in the garbage can. After the painful defeat against the Germans, there’s more important football on our schedule. Not in a distant Soviet state, but in the cozy village of Abcoude the ninth edition of the Financial Football Tournament will be held.

The well known trading software provider ORC has stepped in as a sponsor for the tournament, along with long term sponsor Eurex. Here’s the matrix with participating teams. Optiver decided to pull back one of their teams last minute. The cricket enthusiasts apparently are going for the title. Most of the fourteen teams  consist of the usual suspects, but new teams this year are Euroclear and EEX.

All Options hiring again

For another year we have to do without All Options. However, this may change next season as Allard has fixed his boat and is hiring again. Switching their core business from stock options to algo arbitrage, they are looking for a new managing director. However, I still count on All Options to quote the new options on Douwe Egberts.

Flow for sale

Another household name unable to assemble a soccer team, Flow Trading. Slightly in a different situation than All Options – the directors and investor Summit have hired Lazard to find a buyer.

Other HFT news

The Chicago based Getco has been cutting staff. Around 40 people have been shown the door, as thin trading volumes are hurting them. That’s a whole new experience. When speed becomes a commodity other sharks want a piece of the cake.

Ronin Capital, relatively new and unknown, made very healthy profits in Europe. The trader which erroneously fired 31.000 mistrades to the market earlier this year is doing pretty well.

Last and least, more depth and commentary on shutting down IMC’s Hong Kong office.

19 Responses to Football and other financial news

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anonymous

June 14th, 2012 at 10:37 pm

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Jack

June 14th, 2012 at 11:01 pm

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anonymous

June 15th, 2012 at 12:11 am

“Last and least, more depth and commentary on shutting down IMC’s Hong Kong office.”

“Articles older than 48 hours are available to subscribers only. ”
Not much colour available when you can’t read the article….

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anonymous

June 15th, 2012 at 12:12 am

Hey Jack, is this trial access or you paying up,

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anonymous

June 15th, 2012 at 12:16 am

yah you just missed imc read, it was good article, it be better for Jack to start posting links to pdf printouts rather than weblinks,

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anonymous

June 16th, 2012 at 2:15 pm

All Options looking for a Managing Director? The description is ridiculous, no one matching the requirements would have any interest in starting a new business under the ownership of others as he could to it by himself. They are actually doing negative self-selection, so that only the losers will apply.

Why are dutch companies so naive? Do you really think the job of a manager/director in prop trading is just to hire cash cows or buy a money machine? Even if this would be the case, you cannot claim any P&L share as your job is that of a HR person.

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anonymous

June 16th, 2012 at 2:33 pm

http://www.alloptions-international.com/careers/Current-Openings/Managing-Director-Strategy-Trading.html

are you moron or what, no where in the spec does it state ‘starting a new business’, they have decided on the focus area for the company and now they want an energetic informal leader to be responsible for realigning that existing team and its resources,

negative self-selection is widely prevalent with recent egs of coleman and hartog in supposedly top tier firms, so get used to it,

local dutchchies are of course small timers traders trading mickey mouse index called AEX, the senior trader will ride around de pijp on his shiny new bicycle showing off his Rolex watch, don’t know if that video is still available on all options,

in this case AO is not asking the MD to hire cash cow/money machine but to develop and optimize execution processes of strategies to increase business performance and to further develop / search for new tools and strategies, the ‘P&L share’ carrot would of course be presented to the incoming MD if and when he’s promoted to partner on back of his strong performance, so this is no way a pretty girl sitting on HR seat type role,

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anonymous

June 16th, 2012 at 4:55 pm

who is hartog?

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anonymous

June 16th, 2012 at 8:38 pm

a trader-to-be at IMC

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anonymous

June 16th, 2012 at 9:52 pm

And wim Den Hartog from GS has just left to join IMC. Rumour has it that he is going to manage the Chicago office. Another yes man to join the team!!!

http://www.amsterdamtrader.com/2012/05/imc-shuts-down-hong-kong-rumor.html#comment-11492

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anonymous

June 16th, 2012 at 10:09 pm

he will take a good share of the future bonus pot in chicago, being a yes man

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anonymous

June 16th, 2012 at 11:13 pm

that sounds like made up assumption for person who ain’t getting much paid himself,

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anonymous

June 16th, 2012 at 11:26 pm

true, compared to a trader a software developer is not paid that much

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anonymous

June 17th, 2012 at 12:43 am

its hard to distinguish one developer from another, no stars, there are tons of developers working in teams and once developed, that’s in past and you can be rid of and hire new developers, there ain’t much differentiation, and of course they don;t have personal P&L attributable to them, that goes to the trader’s book,

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Guess who

June 18th, 2012 at 10:55 am

new business? They have been trying for years to setup a profitable strategy desk. But they really have no clue how to make money and what strategies to trade. Really pathetic. Their deskmanager has no clue what to do, due to lack of experience and there CEO is too stubborn and probably not even able to make money with Market Making anymore, let along strategy trading. SOLD!

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anonymous

June 18th, 2012 at 12:23 pm

that’s why they are looking for a MD with track record, even if they do not say it explicitly (informal leader?) they are clearly looking to buy the know how of a profitable strategy. Unfortunately for them , it is not possible to buy a profitable strategy.

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anonymous

June 21st, 2012 at 11:57 am

.

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anonymous

June 21st, 2012 at 3:22 pm

They can of course buy a profitable strategy, a strategy profitable in past is just that, you can obviously make assumption of future and pay up accordingly,

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anonymous

July 20th, 2012 at 7:24 pm

All Options is the only company that is losing money for the last 3/4 years, and have not fired his trading manager (a joker) or change his board members, well unless they quite by themselves after accumulating a nice amount of money from indecent wages and bonus (indecent coz they are morons getting pay for doing strictly nothing and even getting bonuses)

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  • anonymous: Deadweight and ineffective too. Be money pit. They are eating away my bonus [...]
  • anonymous: why not? it's in the definition isn't it, 'deadweight' 'senior' 'management'? however you can [...]
  • anonymous: why? [...]
  • anonymous: IMC needs to purge the deadweight senior management too. And fast. [...]
  • anonymous: Ping pong http://www.quotenet.nl/Nieuws/Waarom-is-de-hele-top-van-Optiver-vertrokken-138369 [...]
  • anonymous: if jack isn't making money day trading on technicals, how is he generating pnl, long term investment [...]
  • anonymous: it's what happens in a grown up world, people being kicked out are gently asked if they would like t [...]
  • anonymous: first, what's new, next btw boring pictures [...]
  • anonymous: @Jack: is Quote paying you for the leads you give them? [...]
  • anonymous: I think that officially none of these guys got fired. One, maybe two were asked whether they would n [...]

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