14 Jun

Football and other financial news

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 thoughts on “Football and other financial news

  1. “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….

  2. 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,

  3. 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.

  4. 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,

  5. 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,

  6. 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!

  7. 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.

  8. 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,

  9. 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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