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Tag Archives: trading

Drew Shields, Trading Technologies – Next-Generation Product Development Feature,MarketsWiki Education,MWEd,Mwiki,video

“There will always be someone as smart or smarter than you and you have no control over that. The only thing you have control over is whether you have more drive, more passion than others.” As chief technology officer at Trading Technologies, Drew Shields has been instrumental in the implementation of the software vendor’s new top-to-bottom makeover. The new architecture required lots of technical talent, to be sure, but it also required two additional attributes – hunger, and the ability to challenge the status quo. In college Shields majored in theology, and he started in the business world with few…

Christian Domin, GlenStar Properties – Value Investing: Office Space and Associated Risks MarketsWiki Education,Video

“When you’re first starting out, you want to keep your lease as short-term as possible and mitigate the risk. If there is a regulatory change, a change in your small, three-person partnership, or any other change, you’re going to be stuck.” Most financial professionals know that the day-to-day price risks are but a small component of one’s overall business risk. Even trading firms that make their money on price movement must deal with regulatory uncertainty, technological change and other shifting trends. Christian Domin, whose firm GlenStar Properties purchased the iconic Chicago Board of Trade Building in 2012, says real estate…

John Fennell, OCC – Clearing – Providing Confidence to Financial Markets Options,Video

“In the past, settlement – the movement of securities and cash – is what you would associate with clearing. That changed as a result of the financial crisis. When you have banks like Bear Stearns and Lehman Brothers defaulting, confidence becomes the bigger issue.” Historically, clearing has not exactly been part of the “glamorous” side of trading. In fact, it has been looked at as a utility, like electricity and plumbing. But that all changed during the financial crisis. Clearing, you see, is not just about moving contracts through the pipes; it is also about the guaranteed performance of those…

Dan Day-Robinson, Chairman, Swiss Futures and Options Association – Embracing Change Financials,video

“…While some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do. – Rob Siltanen, the creative genius behind Apple’s “Think Different” campaign” Dan Day-Robinson will be the first to tell you he has a flair for the dramatic. As a former market maker, investment banker and now head of a trade association, he has hundreds of stories, and he knows how to tell them. He takes us on a rollicking tour through his years in the financial world, including his…

Paul McCormick, Opening City Doors – Finding your First/Next Financial Job Video

“There is a mismatch between the way companies like to hire people and the way graduates and young professionals like to get hired.” Paul McCormick has represented a half dozen of the biggest names in the banking world in his 30 years as a fixed income trader. Now he works as a graduate recruiter for Thomson Reuters, and also writes a blog, Opening City Doors, that helps graduates and young professionals find a place in the London financial scene. He says most companies’ recruitment flow charts run from the top down – internally, personal referrals, LinkedIn contacts, professional recruiters –…

Profiles: Blair Hull Interview,Video

It’s not every day you hear one of the most successful traders and businessmen in the industry say he got his start as a card counter in blackjack. “My brother-in-law told me that he made money in Lake Tahoe, enough money to pay for his vacations,” he said. “I said, ‘Well, if you do that consistently, you should be betting a lot more money and you wouldn’t have to be an accountant.’ “ So Hull put his own money where his mouth was and took up the game of blackjack for five years, learning probabilities and strategy. His success in…

McGladrey: Tired of your mark to market election? IRS has good news. Blog,Commentary

Our friends at McGladrey shared the following commentary with JLN for publicaiton New Revenue Procedure makes it easy to revoke 475(f) elections There are various reasons that traders find refuge in a mark to market election under IRC section 475(f).  Some are looking to avoid disallowed losses caused by wash sales and straddles (offsetting positions), both of which can arise when trading frequently.  Others find themselves with a losing year, and make the election to obtain ordinary treatment on losses, freeing them up for carryback to earlier years.  In any case, circumstances change, and what was once a blessing can…

Ray Cahnman, chairman, Transmarket Group – Me, Us & You: How Trading Works Video

“Opportunities today are even greater. Competition, however…is brutal. “ Ray Cahnman, chairman of Transmarket Group, begins his presentation with a list of books, movies and news stories he recommends that give a glimpse into the financial industry. He then discusses how he entered the financial industry and how the opportunities and challenges facing the industry have evolved. Cahnman remembers how trading used to be about the individual trader and how no one wanted to divulge their secrets to success. Today, trading has turned into a team effort, especially with the role technology is playing. Cahnman says that the trading ecosystem…

Matthew Scharpf, Vice President Sell Side Business Development, Eurex – Trading with a Creative Mind Video

“You’re filling your toolbox…You’re not going to need it today or tomorrow, but one day it’s good to have.” Matthew Scharpf, vice president of sell side business development for Eurex, gives a unique look at systems in the financial industry and how we can connect new pieces together to create innovation. Using his guitar and knowledge of music, Scharpf explains how individual notes can be combined into chords and used in a variety of instances to create different songs. And even when it may seem like there are some limitations in songwriting, different tools and methods can help facilitate the…