IMC – International Marketmakers Combination – Executive Summary
June 23rd, 2023 | For Subscribers
In this 98-page, 115-exhibit, 22,400-word case study, "IMC: International Marketmakers Combination," Alphacution publishes its findings on global option market maker and equity index option specialist, Amsterdam-based IMC BV and its affiliates, including - most notably - its US-based affiliate, IMC-Chicago, LLC (often known as IMC Financial Markets). Founded in 1989 by two floor traders on Amsterdam's European Options Exchange, today IMC is one of only three Tier I proprietary trading firms with legacy in the 1980's - along with legendary option trading houses, Philadelphia-based Susquehanna International Group, LLP and Amsterdam-based Optiver BV - and one of only eight "prop firms" globally with more than 1,000 employees. Beyond showcasing certain achievements, revenue, risk framework, and trading preferences of IMC, this case study - Alphacution's 17th such report showcasing the world's leading technology-enhanced trading firms - also provides context for the boom in zero days to expiry (0DTE) options and its impacts on a constellation of US option market makers...
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Paul Rowady is the Director of Research for Alphacution, a research and strategic advisory platform uniquely focused on modeling and benchmarking the impacts of technology on global financial markets and the businesses of trading and asset management. He is a 35-year veteran of the proprietary, quantitative and derivatives trading arenas.