And there it is.....

[harristeeter]

Yep, derivatives are a different animal than equities though. I run a firm that specializes in global infrastructure, pre-trade risk, direct market access gateways and market data. On the equities side, you're talking about MM's that are doing up to 10-12 million transactions a day on multiple markets and that's not the Citadel's or Jump's of the world either.



Did you hear what happened to Ronan Capital? Two bad Vix trades took down the entire firm........talk about a regret for not having a good central risk tool

Would love to have lunch with you and @fatpiggy !

 

[jakefest]

Would love to have lunch with you and @fatpiggy !

Would love to! I'm guessing @fatpiggy is in Chicago though if he's market making on the VIX.

Where are you guys located?

 

[fatpiggy]

Yep, derivatives are a different animal than equities though. I run a firm that specializes in global infrastructure, pre-trade risk, direct market access gateways and market data. On the equities side, you're talking about MM's that are doing up to 10-12 million transactions a day on multiple markets and that's not the Citadel's or Jump's of the world either.

Did you hear what happened to Ronan Capital? Two bad Vix trades took down the entire firm........talk about a regret for not having a good central risk tool

Yes, I use Ronin's software now (or what used to be their software, I don't know who technically owns it now) and used to trade for them way back in the day. Some dude named Carnie was the guy that brought the whole firm down doing a SPX vs Vix trade. It was one of those trades that worked ...... until it didn't. Live by the sword and die by the sword i guess.

Equities are different, but the fee structures across the exchanges and products are similar. Either maker / taker or fee based.

Market data is a good place to be. I pay, what feels like, a shit ton for market data. A lot of exchanges are not making as much on commissions and try and make up for it by increasing market data and access fees. At least the CBOE is doing that. Hope business is going well for you!

Citadels, Susquhannas et al are in a different league.

 

[fatpiggy]

Would love to! I'm guessing @fatpiggy is in Chicago though if he's market making on the VIX.

Where are you guys located?

Lived in Chicago for 15 years but now i can trade remote from Charleston. After all the servers got moved to the server farms in Seacaucus ~8 years ago i got out of the seemingly perpetual winters of Chicago.

If you or @harristeeter are close by lets grab lunch one day.

 

[fatpiggy]

And if I knew how to post a picture i would post a picture of this dude Carnie. Not exactly what you would expect. Dude lost ~$500mm I think. Ouch

 

[jakefest]

Lived in Chicago for 15 years but now i can trade remote from Charleston. After all the servers got moved to the server farms in Seacaucus ~8 years ago i got out of the seemingly perpetual winters of Chicago.

If you or @harristeeter are close by lets grab lunch one day.

I'm stuck in NJ just outside Manhattan. Trying to talk my wife into Charleston given I can do my job from anywhere also.

 

[jakefest]

And if I knew how to post a picture i would post a picture of this dude Carnie. Not exactly what you would expect. Dude lost ~$500mm I think. Ouch

Citadel tried to fire sale buy their hanging book but decided it was easier to just pick apart their positions. We had a look at their tech assets, ie....switching, servers, etc. They were a client of mine at another firm. Worst part is the other desks were up.

 

[appalachiatiger]

For the pagan world runs after all such things

loved the quote

just disagreed with this statement

it was freaking cold where the pagans lived

a florida dude can surely talk about clothing to a guy in the middle on minnesota for the winter?

umm yeah

the pagans of this time were dependent on trading for as much clothing as possible.

but love the rest of the stuff

some anti capitalism in there.