Posts by Paul Rowady

About Paul Rowady

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.

Contact: [email protected]

Approaching Peak Proprietary

Alphacution presents evidence for how dominant prop firms are starving smaller competitors out of business - a sign that we may be approaching some kind of peak. One of the highlights of this post is a rare, long-term chart of the rise of the top proprietary traders - including Citadel Securities, Jane Street Group, and Susquehanna International Group (SIG) - and the decline of banks in the US equity option market...

Optiver’s Charm Offensive – Part I (Updated)

Bloomberg's recent exposé on legendary Amsterdam-based derivatives trader, Optiver, is heavy on gloss and sabre rattling - against market leaders like Citadel Securities, Jane Street, and Susquehanna International Group - and light on strategic and competitive analysis. In Part I of this Feed post, Alphacution begins to fill that gap with data, context, and perspective...
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