DeGiro’s response to the previous post on matching client flow to their own hedgefund was a 3 page long pdf. While ignoring the big elephant in the room, they had some valid points too. And some nonsense. Counterparty risk Valid points first. When your broker collapses, your position in derivatives isn’t secured nor guaranteed. Whether the transactionsRead more
This is shocking news. The discount broker DeGiro has been executing client option orders against their own hedge fund, HiQ. These option trades have been matched inhouse, which means the retail clients effectively have traded over-the-counter options against DeGiro. And these “OTC” options means you run counterparty risk, the options are only guaranteed by DeGiroRead more
Just two months ago Flow Traders was invited for the opening bell ceremony at Euronext. Was quite a puzzle to find out who’s who at the balcony – but with linkedin and a little help from my friends it worked. This monday Sjoerd and Dennis from Flow Traders rang the bell again, after the optionsRead more
The market tumbled on August 24, after the “black monday” in China. The Dow Jones dropped 1089 points intraday. Usually the “designated market makers” (DMM) at the Big Board take care of a fair and orderly market. In times of turbulence, there’s a fast market rule where the market makers can duck the regular trading rulesRead more
Rob Defares and Wiet Pot, both at the helm of IMC Financial Markets, will make a great jump on the list of richest men in the country. Forget the traders with a few million, Defares and Pot are in another league. On the annual Quote 500 rich list of Dutch citizens, Defares used to beRead more
