The market maker lobby
Retro APT website
And yes, the APT has a website too. As a sparring partner of all kinds of governmental bodies, it’s important to have a professional look. Well, here it is. Apart from the general my-first-website look and feel, the content is even worse. And that’s a serious matter for an association trying to sell their story to other organizations and institutions.
First of all, everything is in Dutch and outdated. Under the link of “actueel” there’s a messy text with topics ranging from 2004 till 2009 – but that’s hard to say because most text contains no reference to any given year. There’s a link to a scan of a letter from the Dutch tax authorities which reveals a year of 2004. There have been two meetings in 2007, a few in 2009 and apparently none in 2008.
Worse than the website
Investigating the date of certain topics, I spotted a letter from the APT to the financial watchdog the AFM. They are against something unclear, but it has been way too much effort to write a decent letter. If you write this kind of lousy formal letters, maybe you shouldn’t be representing other companies at all. Mister Kruisinga and Kaemingk may have great capabilities, but writing letters isn’t one of them.
Optiver/Binck
There’s no reference to the joint-venture of Optiver and Binck, where all Dutch retail orderflow is about to be channelled to he books of Optiver ; cornering the market and threatening the future of all other market participants with “TOM“. After some questions, the APT decided to have no view on “innovative” developments with the sector. They couldn’t reach a consensus. That’s hardly a surprise with an APT member like Optiver. Any market maker association or representation ignoring this threat can’t be taken serious and should be relieved from their duty.
VDM has also a position in it.
I guess the website is not updated.
Whats the problem?
The world is full of outdated websites. But this are really amateurs, acting on your behalf..
sneue toestand. wellicht is navelstaarderts het beste woord.
http://www.aptraders.nl/wmIndex.cfm
Mr Moderator,
maybe it was better to do a bit more research before burning down the APT. I admit, the website is a bit amateuristic, but the APT is not trying to sell anything via this website, so who cares.
The APT operates on topics on a higher level than is visible to the 'normal' trader. You should think more in the direction of regulatory issues related to the financial trading sector. Apart from Optiver, all other trading firms are too small to have a successful lobby in Brussels & The Hague. Work done by the APT also influences trading firms outside Amsterdam (Tibra / Liquid, etc). Did you realize for instance that, under the current regulatory proposals, trading firms will need to apply the same capital ratios to their trading as banks (the new ratios, not the old ones). If this becomes reality you can only take a fraction of the positions you can take on now (yes, also the UK trading firms, this is not a Dutch issue)
I suggest you call Mea (the someone who runs all the operations) to get a better feel for what's happening and write some updates to the article.
The TOM issue was heavily debated. Apart from the fact that IMC, Saen, All Options, and VDM all tried to do the same thing with Binck (but lost to Optiver and are now crying crocodile tears) the opinions were too divided to form an unified opinion as a representative organisation. Let's be realistic, if Optiver had not done it, somebody else would have.
Mr Moderator, good luck in your research, looking forward to your updates.
so, why did you sell?
@ 7:17 PM
"Let's be realistic, if Optiver had not done it, somebody else would have."
I lost my wallet the other day. The police caught the thief. The thief explained he saw my wallet lying on the pavement. If he wouldn't have stolen it, someone else would have.
What kind of a justification is that?
good one !
@ 1:49 AM
stealing is illegal, in-house matching is not. People have been talking about this for years, and Binck was the main price. So it was going to happen whether you like it or not.
@8:27
I wouldn't be too sure whether or not the abuse of Binck's market power is legal..
But if you've been talking about it for years, then it should be okay! Good point!
just to lighten up your day a little bit, options can NOT be in-house matched yet, which is probably your main concern. TOM is therefore also not doing it yet. The law also states that TOM should be open to everybody, so Optiver will not be able to have TOM flow exclusively, which they have admitted before. The only catch is that the law does not say anything specific about the conditions, just that they should be "reasonable".
and to conclude, already 20%-25% of European equity flow is being in-house matched already. Binck is just a tiny piece of the puzzle. I don't like it either, us small firms are suffering from the big bank's lobby in Brussels. All the more reason to have the APT to fight this.
But.. the APT doesn't care about it as Optiver is effectively blocking the issue. Forget about this organization ; it is dead.
AEX year-end bet..anyone ?
325
323
sucks
WTF is Hoyle doing on this page with an advertisement? This guy is BROKE http://www.curatoren.nl/fo/verslag_faillprofiel.php?id=131738
I read that Tullet and Icap are also affected by Darling's bonus plans. Since they are not banks (or are they?), does that mean that UK trading firms are also affected by this ridiculous bonus tax?
I know btw that the AFM tried to impose the bank bonus plans on Dutch trading firms, but that was quickly shot down by the APT, i.e. they are not dead.
350
I think the bonus tax affects everyone who is regulated by the FSA
I like the APT
who is cross options?
visit http://www.crossoptions.nl
It seems Matthew Hoyle relocated to Hong Kong
http://www.alloptions.nl/img/upload/files/PDF/All_Options_Media_Brief.pdf
HAPPY NEW YEAR RICHARD, EGBERT AND ONNO !!!!
Lets hope 2010 wont see you being forced to pay bonuses back to the administrator or you going to prison!