All Options to acquire Saen Options
Big news in small Amsterdam. Option market maker All Options buys rival trader Saen Options. I noticed a steep rise in hits on this post thanks to google yesterday.
Yet, a little inside knowledge doesn’t make a difference as none of them are listed. All Options made a killing in 2007. It did their homework better than competitors like Interactive Brokers in trading options Altana.
Logic remains a mystery
The reason behind the take-over remains puzzling. There isn’t much synergy in doubling the number of traders. The clearing house won’t have much room to reduce the fees. Combining the research expenses can hardly be seen as justifying merger risk. Saen Options has a way better office though – in Beursplein 5.
Press release
The official press release on this IEX forum gives some clues. Major bullshit management lingo with cementing positions, leading market maker and of course a few words about the cash cow “time zones”. According to the press release the take-over is also intended to “enhances our focus on All Options as best place to work“.
It’s a mystery how this is related to a merger – especially when traders working for All Options receive below average bonus deals percentage. Either Saen Options was on the edge of failing, or All Options’ founder Allard Jakobs had an attack of megalomania. Combination of both, I guess.
Small update
Last rumors confirm Saen was having a difficult year in 2008. According to brokers, they haven’t been very active recently. Strange, because their in-house computer systems are said to be top notch. Long dividend or short VOW calls can seriously ruin your day, though. In contrast to All Options, Saen has a serious trading operation in Asia staffed with over 40 employees.
is 500.000 bonus a year below average? I wonder why mr. Amsterdam Trader has such a pathetic website if he is earning such big above average bonuses
Only 500k. Wanker!!
i am a trainnee
and you always will be
It is spelt trainee you illiterate fuck!
It is spelt Intal, not Intall
I love this thread. Everyone is so polite!
Bonus deals are expressed in percentages, not in absolute numbers.
hey nice blog
As far as I know Intal is not spelt anymore….I think they had a 90% deal
Thanks for commenting on Intal, Allard.
Cheers,
Wobbe
I work for Saen.
I would like to work for Saen too.
I saw on EFinancialCareers that Saen in recruiting via a trainership scheme. Will there be room for no-experienced graduates in non-finance but highly quantitative program?
If not .. please be polite, I am an emotional guy.
hehehe bye!
No worries mate. Experienced graduates don’t exist. Quantitative background should be fine.
what’s a typical bonus package like at Saen for a market maker?
does anyone know anything about how an interview at optiver for the junior trader position will look like? i took the 80 + 26 questions online assessment and now am ALLOWED to visit them in amsterdam
plus could someone provide me with some information on what to say during the interview? i wanna the dough doesnt sound like the best answer ever does it? i m trying to find a nice answer to why do you want to become a trader
Say you are in it for the trading game – which should be true, otherwise you’ll fail in trading anyway.
I want to get on the floor, but as I joined the army when i left school and have no PHD I dont fit the bill.
I have been fighting my way up, just as I get my bank to back me and move to a junior front office role they do a 360 and give no explanation. Soul destroying.
It sounds like a very stupid thing to say but masters and PHDs are not always the right choice,
I would love to work for All Options,
Then fight your way in ……
All Option traders are pussies, shouldn’t be too hard to fight your way in… Beursplein 5 !
which company you suggest then?
not all options. 18 months ago they had no money. the owner put his last euros on red and with a liberal clearing house, was able to win the jackpot. hes a big gambler and blown out lots of times before – will happen again!
cash cow time zones?
is it about NAV arbitrage with mutual funds ?
can somebody explain that?
or is it equities that trade in 2 markets (roll over?)
thanks
[…] over the year 2009 in pdf. It feels like Allard Jakobs bought Saen Options years ago, but the deal was actually closed in 2009 and therefore integrated in this annual report. We all know what […]