Simplex Trading

Simplex Trading: Against the Odds

“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.”Henry Ford On occasion, we have framed the world's leading proprietary trading firms with the following graphic: And, as many of you know, this is the terrain upon which we have focused a notable component of our attention to date - and likely where we will place a disproportionate share of our attention going forward. This is partly due to the fact that this group bears out-sized responsibility for a quiet cascade of impacts throughout the global markets ecosystem, and partly because there are so few others that have managed to marry such scale with such creativity. This dynamic is made more notable by the idea that winner-take-all market dynamics that tend to reinforce an "incumbency of incumbents" make such an ascension less likely than the previous unlikeliness from all the yesterdays before... That said, based on our ongoing surveillance of the broader landscape, there are always exceptions. If you watch [...]

By |2020-10-16T23:50:57-04:00October 16th, 2020|For Subscribers|

Ranking of Select US Option Market Makers

"The book of nature is written in the language of mathematics." - Galileo Galilei As we prepare to turn the page on a new year, and consider what we may want to accomplish during that year, derivatives are on the priority list. Why? Options are important for many reasons from risk management to computational rigor and signal generation. And, if you had been paying close enough attention over the course of this year, you might have noticed that each of our case studies have touched, in one way or another, on options. Now, given that Alphacution is committed to its research providing new pictures to ponder, I wanted to drop the following chart on you with little additional commentary for this go 'round - except to say that the plan right now is to dedicate a full case study to the key players in options trading during 2020. Stay tuned... Until next time...

By |2020-08-17T07:14:02-04:00December 5th, 2019|For Subscribers|