Last post I mentioned a few local market makers which left the building. Calimero and Wintrading couldn’t earn a living anymore. Rising costs, higher risks and lower profits. Calimero never had a losing year by the way.
Back in the good old days of the open outcry trading the market maker landscape was completely different. Large firms disappeared after the migration to the screen, and some of the biggest traders turned tiny.
Anyway – found a nice professional documentary from Edwin Trommelen with a lot of attention to Wintrading and a Belgian trader from Saen Options (not the Calimero trader, who is in the still above for Saen). Was shown on national television some decade ago, but turns out it is still available on the internet. Not possible to embed it on this site, so you’ll just have to follow this link : afscheid van de vloer. It’s in Dutch and without subtitles – but it has a lot more to show than just a few shots from the pit.
It’s a good watch for non insiders too. It’s not only nostalgia and spotting yourself or your friends on television – it’s good television.
Other news. TOM, the new option exchange, traded their one millionth option contract. Good news for them. Perhaps this could fuel some price war between Euronext and TOM. Although the latter is bragging about unrealistic better execution prices for retail investors. Can’t imagine the quotes on TOM are any tighter than Euronext. Something to check on another rainy day.