Both Virtu and Flow Traders had their IPO in the last year. On May 4th both of them released disappointing first quarter earnings. Turbulent markets are good for traders. One could expect these stocks to be stable. When markets plunge, they should be fine. When markets soar, a rising tide lifting all boats. But itRead more
The current markets make trading amazing. I predict the first quarter results of KCG, Virtu and Flow Traders will be spectacular. Shares of Optiver changed hands for €2000 – up from €1600 in 2015. “Our firm is made for this kind of market”, said CEO Doug Cifu after the August 24 stock rout. And regretted his remarkRead more
The Belgian government proposed an hilarious tax two months ago. Short term profits will be taxed (33%) for retail investors. Losses aren’t taken into account. The idea is the capital markets are bad, just like smoking or alcohol. Slowly, details emerge. All exchange traded instruments are assumed to be within the scope of the tax.Read more
Don’t mention the war. Euronext created country indices for Germany, Spain and Italy. Stock indices consisting of 30 stocks each. Developed these indices somewhere in the summer, but now the plan is to introduce derivatives on these indices. Futures and options on a competitor for the DAX. I don’t make this up. Plans will probablyRead more
Flow Traders is aiming for a valuation between €1.35 and €1.7 billion. That’s a lot, more than three times the market cap of a stock like Binck. It seems excessive for an IPO. After all the company made only 68m profit last year. That’s a multiple of more than 21. Not cheap. 2015 will beRead more
