Chicago FX operation

Quote from riskarb:



How long do you think it will take for these guys to blowup paying 15% in edge on every reverse down and out put? I didn't know vtrader had ANY experience in exotics.

In any event, I hope this comes to fruition unlike the "London operation". Good luck with it Mav and I'll sub to this thread looking for the followup.
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I'm not sure where you are getting all these numbers you are throwing around. I'm not trading for edge. I don't in the index market and wouldn't be here. And a little FYI for ya, the London operation is on. Not sure why you think that is not happening. We have a trader going over there at the beginning of next year and it's simply a matter of getting some space through Either Man or Fimat and getting a few more guys in that office.

Beck, I have told you this before via PM and publicly on these boards, and you have my number as well, if you really want to know what's going on either in Chicago or VTrader as a whole, feel free to give me a call or visit me in person. You can get all this info straight from the horse's mouth versus from 2nd party sources.

I've told you this on our last PM, next time your in Chicago, dinner is on me, you can ask me whatever the hell you want. Just please stop speculating on what you think we are or are not doing. Especially when you have my freaking number on PM.

I'm sorry to hear about the rift between you and surf, but the reason that kind of shit goes down here is because of exactly the kind of "so and so told me this" crap. Anyway, I hope you come to Chicago before the weather is freezing. In case you didn't know, this is the time of the year you want to be here. :)
 
Surfer isn't the issue, it's the moderation of this site. Libel seems to be an acceptable form of expression; that's the issue. Surfer has enough problems going forward.

Regarding VT/London... you've made zero mention of it on the London thread, so I assumed it was a no-go. I have no knowledge of VT beyond what you post.

Regarding edge: Trading as a buy-sider in exotic options is like trying to hit a major league fastball. That's all I was implying.

I am in Chicago the first two weeks of Sep. I have to make a quick-stop at Vult's and work him over for starting all these rumors [j/k].
 
Quote from riskarb:

Surfer isn't the issue, it's the moderation of this site. Libel seems to be an acceptable form of expression; that's the issue. Surfer has enough problems going forward.

Regarding VT/London... you've made zero mention of it on the London thread, so I assumed it was a no-go. I have no knowledge of VT beyond what you post.

Regarding edge: Trading as a buy-sider in exotic options is like trying to hit a major league fastball. That's all I was implying.

I am in Chicago the first two weeks of Sep. I have to make a quick-stop at Vult's and work him over for starting all these rumors [j/k].
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Well I think Barron's stance on libel is that libel and slander can't exist between two made up aliases. Not sure, I haven't spoken to him about libel and slander issues on here. I'm sure he doesn't take any of that seriously unless both aliases are actual sponsors i.e Don Bright.

Regarding VT/London, Magna had asked me to refrain from discussing the London office since we are not a sponsor on ET. I didn't see anything wrong with that request. The problem with that thread was I was trying to start a general discussion on the viability of it and it turned into a VTrader bashing thread. Gee, go figure huh?

As for the exotics, I simply said we offer them to anyone who wanted to trade them. My ambition behind this project is not to trade exotics but to have an alternative to the sub par liquidity offered on the Globex European options. I simply want to replicate vanilla options OTC and have access to good markets 24 hours a day vs when guys on globex reel like quoting me a market. So far, the options offered by Fimat have tighter spreads then those shown on Globex all things being constant. This is very pleasing to me.

Perhaps once the CME FXSpace deal takes place, the Merc will offer deeper liquidity on their FX options and tighter markets. Until they do, I will look elsewhere. Besides, I rather customize my options vs dealing with a standard contract.
 
Giving that retard air-time is self-flagellation. He stated he received the info from the Horse's mouth, which is a blatant lie.

Anyway, I agree that FX options are the place to be. Amazing that they've died off in the listed markets when spotFX has taken off. Does Fimat offer electronic dealing on OTC conventions, like UBS? If so, then I think it's a huge opportunity. Tradking OTC vanilla is a great model -- Saxo is making 10s of millions with a BO from the 19th Century.
 
Quote from riskarb:

Giving that retard air-time is self-flagellation. He stated he received the info from the Horse's mouth, which is a blatant lie.

Anyway, I agree that FX options are the place to be. Amazing that they've died off in the listed markets when spotFX has taken off. Does Fimat offer electronic dealing on OTC conventions, like UBS? If so, then I think it's a huge opportunity. Tradking OTC vanilla is a great model -- Saxo is making 10s of millions with a BO from the 19th Century.
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That is the only downside. Fimat does not yet offer electronic access to these markets. All trades must go through their dealers over the phone. This really is not that big of a deal for me. I think they are working on a electronic platform as their business in FX OTC is up 1500% year over year! I'm sure it's at least a year away. They did tell me they are tighter then UBS. I'll find out soon enough if that is true.

BTW, it's nice to know also that I can go in the elevator up to the 34th floor and speak to the guys on the dealing desk myself if there is a problem. :)
 
Hmm, interesting. How about some office setup assistance? I've got access to 11,000 square feet of fully furnished space ready for immediate use. It's located in the west loop. I could even provide some parking to go with that space. I'd even be willing to provide all the Internet access and all servers for your operation. Computers are my specialty.

Maybe there are a few other things that could be added to enhance the operation. Hardware additions that is. PM me if you're interested in talking further on this. :D
 
maverick,

i am a complete noob when it comes to exotics/binaries. can you direct me, and others in my shoes, to further information on these products? i found this info from dealer fxcm--- are these what you are talking about? are they considered "exotic or binary" options?

http://www.fxcm.com/key-fixed-rate.jsp

good luck with your new venture!

surf
 
Quote from marketsurfer:

maverick,

i am a complete noob when it comes to exotics/binaries. can you direct me, and others in my shoes, to further information on these products? i found this info from dealer fxcm--- are these what you are talking about? are they considered "exotic or binary" options?

http://www.fxcm.com/key-fixed-rate.jsp

good luck with your new venture!

surf
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"Dynamic Hedging" By Nassim Taleb is the bible on both exotics and vanilla options.

http://www.amazon.com/gp/product/04...=pd_bbs_1/102-8322614-7432100?ie=UTF8&s=books
 
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