Good start for Maven
Maven entered the building in September 2011. The London based firm was founded by former traders from two known market makers. Some came from Optiver directly (Ivan Koedjikov), others have spent some time at Tibra before leaving for Maven (Ben Huda, Ian Toon). It’s a small world, and as far as I can see it’s a small company too. The financial report notes a staff of four people. That’s an average, starting with zero employees and ending with eight.
Maven Trading is active on the cash market and as a market maker, also active in the AEX index options. In their first year, the revenues have been 4,5 million pound and a profit of 2,2 million. That’s pretty decent in the first year. The salaries have been 1,4 million.
Interesting to see such impressive results with such a small company. Firm is using Actant for trading.
Maybe check this one too;extremely competitive and highly successfull since 2009: http://www.virtu.com/
what are they using, tbricks, orc, click station?
Can you post the report here Jack?
very good results, so there is still hope in the high frequency space is a startup can male this money, any rumors on who provided the capital?
If they are doing well then obviously they must be using Click Station. These days it’s all about having the fastest software and Click Station fits the bill.
Ivan didn’t come from Optiver directly but was one of the founding members of Tibra Europe in 2007.
They are using Actant but with their own developers doing scripts.
They got nearly 20 people now. Nearly all of them ex tibra one way or another
Paul is that you! Still on the site plugging your product eh?? 😀
who is paul, guy from actant?
‘so there is still hope in the high frequency space is a startup can male this money’
there is always money to be made my friend, you just have to reach to it before the next guy.
well, according to several headhunters it is quite hard to make money in hf trading today, rumors are that getco, imc, optiver, tibra, sun trading, chopper trading, eladian partners are all struggling, eladian is already out of the game
yeah yeah headhunters are a very reliable source
@10.28 yep
headhunters always tell you that when they try to batter you down on salary “well you know it’s a tough time in the industry right now, that’s why they offer 25% less than your current package” lol
it is know that in low volatility and low volume markets market makers struggle, so it seems that headhunters are right
are they making money only through electronic trading or do they have voice flow as well?
Oh, a broker? Subtle my son, really that was very smooth 😉
‘or do they have voice flow as well?
this forum is not for brokers, please…
no seriously, not a broker. just genuinely interested if they are only working the eurex electronically and if this is sustainable.
if you aren’t a broker the answer is:
there was some voice flow in the past, but since the past 2-5 years there is no voice flow at all
heard about that on the AEX. is this valid on the EUREX as well? only DAX and ESX?
‘yeah yeah headhunters are a very reliable source’
my headhunter finally gave into intellectual curiosity and sat trying to listen and understand what this fiscal cliff is about, how could it affect US banks, rates trading etc, i liked the positive spirit.
‘They are using Actant but with their own developers doing scripts.’
really Maven is using actant, or someone taking piss?
‘headhunters always tell you that when they try to batter you down on salary “well you know it’s a tough time in the industry right now, that’s why they offer 25% less than your current package” lol’
That’s their job, read freaknomics and you’ll see its perfectly expected. They are heavily deal dependent, the size of the deal on the margin is not worth jeopardizing the deal itself
Having said that, the market is tough. If you think you are not going to suffer, then you can ignore your headhunter’s word and name your price, you don’t need to show your small dick around however
do not trust headhunters, they are just bullshitters, all of them
“Having said that, the market is tough. If you think you are not going to suffer, then you can ignore your headhunter’s word and name your price, you don’t need to show your small dick around however”
Don’t put your inability to get a decent paying job onto other people! Good jobs which pay well are out there, of course not everyone gets them but they never have always been available for everyone. duh!
I can confirm, there are some top payed jobs at IMC Zug, apply there!
@2.02 really, because Ivan has fond memories of it from his Optiver days. But they realise now it’s sh!t
‘do not trust headhunters, they are just bullshitters, all of them’
you can say that, for just about everyone around.
‘do not trust headhunters, they are just bullshitters, all of them’
you can say that, for just about everyone around, in any occupation, be it sales, product, consult, the bullshit never ends, some of the minorities are specially good at it.
‘Don’t put your inability to get a decent paying job onto other people!’
it’s nothing to do with me, it’s all got to do with your dick size, congrats on spectacularly small aspects of it.
‘Good jobs which pay well are out there’
Did you read what i said – If you think you are not going to suffer, then you can ignore your headhunter’s word and name your price
Judging by your intelligence level, those two still sound contradictory to you?
‘but they never have always been available for everyone’
Did you fall asleep in 2006?
‘I can confirm, there are some top payed jobs at IMC Zug, apply there!’
I second –
http://www.imc.nl/Financial-markets/Career-opportunities/
They have an opportunity for those with less money focus –
IMC Charitable Foundation Manager
For the IMC Charity Foundation we are currently looking for a Charitable Foundation Manager. He or she will be responsible for the daily management and further professionalization of the IMC Charity Foundation.
‘really, because Ivan has fond memories of it from his Optiver days. But they realise now it’s sh!t’
yes, of course, the nostalgia. So they made good money with shit software?
What software are they going to use next?
long maven, short tibra…..
‘I second –
http://www.imc.nl/Financial-markets/Career-opportunities/‘
ah, they are still looking for a junior trader in Zug, even if they are moving/firing half of the people there
Is anyone decent left at Tibra? And why are you still at Tibra?
As a charity foundation manager you will be looking for tax efficient funding of hobbies of wives of colleagues. This will involve field work abroad, especially on popular holiday locations, and you need to have a good feeling for art and fashion.
“it’s nothing to do with me, it’s all got to do with your dick size, congrats on spectacularly small aspects of it.” ok Mr. BSD (go back to your IT job, help real people make money 🙂
“Did you read what i said – If you think you are not going to suffer, then you can ignore your headhunter’s word and name your price
Judging by your intelligence level, those two still sound contradictory to you?” You obviously fail to grasp the subtleties of sarcasm. Perhaps I gave you more credit than you deserved. Don’t worry, won’t make the same mistake again 🙂
“Did you fall asleep in 2006?” Do you mean that in 2006 there was nobody flipping burgers??? dumbass 🙂
Can we stop this bickering about headhunters please, it is boring.
Quite frankly, anyone who needs a headhunter (in the small world of market making and prop trading) must be rubbish because they have not built up any respect from their peers and their reputation in the market must be mud.
@4:04: No one decent is left at Tibra. I got headhunted 🙂
what’s going on at IMC Zug? Any rumors?
‘what’s going on at IMC Zug?
http://www.imc.nl/Financial-markets/Offices/Zug/Events/
they are going to meet Swiss graduates for recruiting soon
‘they are going to meet Swiss graduates for recruiting soon’
is IMC Zug hiring?
Think this is all the result from the Cash team. Dont think these results include Maven derivatives. It was a tough year for option traders last year on the Indexes.
They’ve got a Fixed Income Trader from Tibra/Liquid there too.
‘long maven, short tibra’
who is filling up your bid?
‘they are still looking for a junior trader in Zug’
looking doesn’t mean hiring anytime soon, headcounts can remain open for long time unfilled.
‘And why are you still at Tibra?’
It pays the bills?
‘As a charity foundation manager you will be looking for tax efficient funding of hobbies of wives of colleagues’
Avoiding tax is the most capitalist activity you can engage in.
Admittedly, the better traders from Tibra Europe are at Maven or left, i.e. the ones who made money in 2007-10. The dunderheads like Miti remain at Tibra.
Avoiding tax idea seems difficult concept for Europeans, they seem to have to got so much socialism in their heads. its mind boggling to see Europeans having 10-15% approval for Romney against 85-90% for Obama
‘go back to your IT job, help real people make money’
here we go again, nothing to do with poor IT people and everything to do with your gigantically small dick size, do you really feel so inadequate that you get off dumping on other people?
‘You obviously fail to grasp the subtleties of sarcasm’
which part of your comment was sarcasm and how did you conclude it being missed by the reader?
‘Perhaps I gave you more credit than you deserved’
when did you give any credit? Perhaps for my IT prowess – ‘go back to your IT job, help real people make money’
‘Don’t worry, won’t make the same mistake again’
you sound like a retard who forgot to grow up.
‘Do you mean that in 2006 there was nobody flipping burgers’
Judging by McD’s numbers, no, your point?
‘I got headhunted ‘
what were you doing in Tibra and what’s/where’s the role now?
‘in the small world of market making and prop trading’
yes, you sound like a prop trader on Damrak having heinekein with fellow market makers in beursplien 5, very small world indeed.
‘they have not built up any respect from their peers and their reputation in the market must be mud.’
or their peers were shit and those peers have started selling biscuits for living after having stolen from their company twice over?
‘is IMC Zug hiring?’
Stupid graduate recruiting day doesn’t mean gung ho hiring, it’s just one small part of long term talent acquisition/management.
‘Think this is all the result from the Cash team’
what are they doing? Stat arb or latency arb too?
‘It was a tough year for option traders last year on the Indexes’
weren’t they hiring for junior/experienced trader for this, are there systems competitively fast for mm or they trying to do vol arb
‘They’ve got a Fixed Income Trader from Tibra/Liquid there too.’
who’s that, what’s he punting on,
‘is IMC Zug hiring?’
they will, but before they have to fire 50 people to make place for the new ones
speed is yesterdays game.
time to really use your brain these days
speed is still relevant, especially in cash and option markets, chopper trading is making a lot of money
richard lamb at maven, trading fixed income I hear.
wow
richard lamb has been fired from soo many firms. hes a nutter on drugs, who has never made money anywhere. when you see someone has had 25 jobs, doesnt an alarm bell ring……
‘before they have to fire 50 people to make place for the new ones’
reminds me of green areas being cleared of dead wood and undergrowth for fresh productive vegetation growth again, sounds about right.
‘speed is still relevant, especially in cash and option markets, chopper trading is making a lot of money’
its not lost relevance, its just yesterday’s game, do you understand the difference between the two?
‘richard lamb ‘
http://www.linkedin.com/pub/richard-lamb/15/544/485
‘Head of fixed income options , bund bobl , schatz , sterling , euribor , treasury , eurodollar. Also active on indices dax,eurostoxx,ftse,cac,aex,mib,ibex. ‘
sounds like vol arb, couldn’t be mm this many.
‘when you see someone has had 25 jobs, doesnt an alarm bell ring’
why do you think the next company keeps hiring the nutter?
“richard lamb
http://www.linkedin.com/pub/richard-lamb/15/544/485”
Given that he lasted almost three years at Curvalue, you know this guy must be a GREAT trader!
is that sarcasm? what’s wrong with being at curvalue for 3 years?
IMC Zug will go from 100 to 50 employees
he has a dreadful reputation in the london fixed income market for being useless and a muppet.
it dont matter what people think. What matters is that you survive long enough to get paid.
yes you have to give him credit – there are people who keep employing him!
for how long, the reputation would finally catch up with him in a start-up company? judging by his – ‘Head of fixed income options , bund bobl , schatz , sterling , euribor , treasury , eurodollar. Also active on indices dax,eurostoxx,ftse,cac,aex,mib,ibex’ – he is out punting pretty much on anything, if he ain’t any good, he’ll be out soon, for good.
Trading is not about reputation. You can be a total dickhead as long as you deliver profit.
why do people leave trading firms (or get kicked out of trading firms)? Because they dont make money.
At ADG, he apparently faked that he was dying on the trading floor!!!!!!!
‘Trading is not about reputation. You can be a total dickhead as long as you deliver profit.’
you misunderstand the context of reputation, it is not trader’s behaviour but trader’s profitability, reputation meant that trader had possible bad reputation in terms of not being able to generate profits and this reputation would end up catching up with him. it happened with the doctor from Sean/Liquid.
‘why do people leave trading firms’
sick of job, not getting paid enough, not profitable, team is useless, company is useless, misalignment of strategy, management change, etc, the list is pretty endless.
‘kicked out of trading firms’
not generating profits or disagreeing with management regarding strategy or work, that’s why you get kicked out.
‘At ADG, he apparently faked that he was dying on the trading floor’
why did he do that? After how long did he get kicked out of ADG after that incident?
How come Miti is a dunderhead ?
‘IMC Zug will go from 100 to 50 employees’
who cares?
the 50 who would be hacked?
‘How come Miti is a dunderhead ?’
who is Miti?
apparently manhee chough, from optiver/tibra is also trading fixed income at maven.
Manhee’s left already
@12:21 Walter Miti is the man who single handedly made Tibra Europe into what it is today:
A shit hole.
‘Manhee’s left already’
how come? he just joined?
‘Walter Miti is the man who single handedly made Tibra Europe into what it is today’
too generic, what did he do specifically?
‘ah, they are still looking for a junior trader in Zug, even if they are moving/firing half of the people there’
no, visit again the link:
http://www.imc.nl/Financial-markets/Offices/Zug/Career-opportunities/
the open positions which were there few days ago disappeared. There are no more open positions at IMC in Zug, a proof that IMC HR is checking and reacting on this blog.
absolutely no proof,
just a fart from your brain
why is IMC going to this recruiting event Switzerland??
http://www.imc.nl/Financial-markets/Offices/Zug/Events/Absolventenkongress/
what are they going to tell to the Swiss students, we just fired everybody in our office and do not have any open position?
that’s hilarious:
http://www.absolventenkongress.ch/recruiting-events/absolventenkongress/aussteller/profile.html?firmenprofil=imc-financial-markets&fid=6086&fprofilid=6261
IMC claims to employ 180 people in Switzerland!!!
The funny part is that there is a link for applying online which leads to a non existing web page. Is this a new way to tell that there aren’t open positions?
Standnummer
D3, Halle 6
Facts & Figures
Branche: Banken u. Finanzdienstleister, IT u. Telekommunikation
Fachrichtungen: Ingenieurwissenschaften, Bauingenieurwesen, Chemieingenieurwesen/Verfahrenstechnik, Elektrotechnik, Maschinenbau, Verkehrstechnik, sonst. Ingenieurwissenschaften, Mathematik/Informatik, Informatik, Mathematik, Wirtschaftsinformatik, Wirtschaftsmathematik, Naturwissenschaften, Physik
Einstiegsbereiche: IT, Junior Trader, Junior Quantitative Researcher, Junior Software Developer
Bewerbungsformen: Per Online-Bewerbungsformular
Mitarbeiter Schweiz: 180
Mitarbeiter weltweit: 550
Standorte weltweit: 5
Gründungsjahr: 1989
Jetzt bewerben (try to apply online!)
they seem to like the prefix “Junior”
wether your opinion of wlater miti is good or bad to credit him for single handedly blahblah is mega far fetched
why did tibra let ian toon leave?
bonus issues
‘There are no more open positions at IMC in Zug, a proof that IMC HR is checking and reacting on this blog.’
of course, i have said it enough number of times, best way to reach IMC HR is through this blog, some morons still don’t believe it.
‘absolutely no proof,’
here is one of those morons,
so how did you conclude no proof?
‘why is IMC going to this recruiting event Switzerland??’
they are recruiting out of Swizz, not necessarily for the Swizz office?
‘what are they going to tell to the Swiss students, we just fired everybody in our office and do not have any open position?’
no it’ll be worded as – staffling levels have been matched to the business conditions and there are open positions across all our global offices, haven’t you sat through HR pitches?
‘IMC claims to employ 180 people in Switzerland!!!’
I am confident IMC HR is now working hard to update this number to real time staffing levels
‘The funny part is that there is a link for applying online which leads to a non existing web page. Is this a new way to tell that there aren’t open positions?’
No, I am confident IMC HR is now working hard to update the link from
‘http://www.imc.nl/Financial-markets/Vacancies/’ to ‘http://www.imc.nl/Financial-markets/Offices/Zug/Career-opportunities/’
this is simple hyperlink mistake, candidates would understand
‘they seem to like the prefix “Junior”’
of course, they needn’t be paid as much and don’t bother raising difficult questions for the management, what’s new?
‘why did tibra let ian toon leave?’
no actually its ‘why did ian toon leave tibra’, tibra is an organization and doesn’t control ian toon.
‘I am confident IMC HR is now working hard to update this number to real time staffing levels’
how do you know?
haven’t you seen enough instances of IMC HR reacting to comments made on this blog?
no
okay, keep an eye open in future.
i hear tibra have been letting a heap of people go in the last few days. anyone heard any more detail?
every financial is doing that, what more detail do you require?
which office are the tibra redundancies?
to an extent, in all location, to varying degree?
The IMC Zug office has not made positive PnL this year.
‘The IMC Zug office has not made positive PnL this year’
false, it made decent PnL, especially considering current markets
‘The IMC Zug office has not made positive PnL this year’
I wonder if this is the reason for firing staff / relocating staff ?
you must be a visionary!
‘it made decent PnL, especially considering current markets’
what’s the ballpark number and the trend in last few years?
‘what’s the ballpark number and the trend in last few years?’
that’s of course confidential
well that’s of course bullshit, nothing is bloody confidential, it’s all hocus pocus to keep the worker ants from sharing and revolting.
Not long before IMC’s Zug office follows their Hong Kong office – watch this space. If I were one of the remaining people in Zug I’d get my CV up to date and out there.
‘I’d get my CV up to date and out there’
that’s what everybody in Zug is already doing, but there aren’t much opportunities at the moment
‘If I were one of the remaining people in Zug I’d get my CV up to date and out there’
yes, Einstein, thanks for your general theory of relativity
“but there aren’t much opportunities at the moment”
especially if you come from an office running strategies which lose money…
why are you loosing money? why do you have to be truthful in the interview?
how many people did tibra let go in europe?
4371 people
‘how many people did tibra let go in europe?’
20% give or take, this is just a wild guess, likely to be true in any case.
I haven’t heard of any redundancies in Europe. I know a few people were let go in sydney last week. nothing like 20% tho
at 10%
Didnt Tibra have an exodus of 20 people already ? There is no equity team left in uk anymore. A handful of good guys trading Indexes from Amsterdam
Tibra is a very good company
Tibra was a very good company
‘A handful of good guys trading Indexes from Amsterdam’
are you european? it’s indices for the natives.
I heard there are now less than a handful of guys trading in Sydney for Tibra after a heap left.
okay, so they don’t have to make 20% redundant, if 30% leave by themselves?
@2:14am Sounds about right. Miserable place to be, every single day for the past 2 years I hear.
what do you hear?
VIX=P&L for TRADINGFIRMS highly correlated
VIX & Volumes for Trading Firms; S&P for ‘Hedge’ Funds
isTrueI(*Vix.low) = no money for anyone
how are you going to make money if the price doesn’t move back n forth from your god damm bid and offer, or alternatively if its just trending uni-directionally, with only offers getting lifted or only bids getting filled.