Last year’s profits at IMC Financial Markets have been 78 million, roughly half of the results over 2011 (162 million). Trading revenue was down to 342 million from 470. Nevertheless Rob Defares was happy with the results. According to him the markets are getting more professional with less margins, but with new technological investments their market share increased. And IMC started trading in Brazil and India – from Chicago and Sydney offices.
The declining profits at IMC didn’t come as a surprise, the bonus leak at IMC Chicago showed substantial lower bonuses for the happy few. Speaking of which – ever since the bonus leak the lawyers for IMC have been bugging me with demands, threats and deadlines. The piece about the bonus leak has temporarily been deleted, the free commenting blocked and dozens of comments erased.
Turned out this was only the beginning for IMC. They demanded this old post about the culture in IMC Chicago from 2011 to be deleted, too. Because well uh, it’s not recent and it hurts the reputation of the firm IMC. They even explained me how people could still find it using Google.
But it got even worse. A request from expensive Park Avenue lawyers to supply the IP addresses of anonymous comments below the bonus leak post and from the 2011 IMC Chicago post (like the IP of this comment, and this one). In addition, they found a certain very suspicious IP address they wished to check. “Please provide a list of all comments from this IP“. I kid you not. Two weeks ago these demands were repeated by a Dutch lawyer.
Answer is “no”
And no, I won’t be handing out any ip addresses to IMC or any of their lawyers. Checking IP’s against comments on this site? Dude, seriously. Privacy is king, as is freedom of press. That’s the short answer. For long answers I’ve got my own lawyers.
See, IMC seems to believe all internal problems within the firm can be solved by a firing spree of subversive traders and developers. They’re hunting for the own employees. Looks like there is something really wrong within IMC. Glad I don’t work there.
Free comments are open again.