The recently held 6th Annual Rosenblatt Global Exchange Leader Conference was an opportunity for portfolio managers, analysts, traders, asset managers, and proprietary trading firms like Chopper Trading to meet, network and discuss some of the most important trends in the industry. As to be expected with Rosenblatt initiatives, the conference was professional, focused and productive for me and our firm.
Rosenblatt asked me to contribute to the panel discussion on proprietary trading. While our discussion was mostly mired in industry talk about core cash-equities markets, and the potential impact of mergers, acquisitions, and IPOs coming down the pipeline, the panel also aimed to put the debate surrounding automated trading into perspective for investors and reporters.
In addition to speaking on the panel before the audience, I was able to hear updates about the next biggest trends set to impact our industry. For Chopper to maintain a competitive edge, it’s important that our employees and our leadership continually challenge the status quo and drive ongoing improvement and learning. This conference was just another way to seek out the information that helps Chopper to stay ahead of the game.
For more information on Rosenblatt Securities events, please visit their events page.
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Earlier this month, the Futures Industry Association (FIA) hosted its annual meeting in Boca Raton, Fla., enabling senior derivatives professionals, legislators, regulators and reporters to gather and generate a thoughtful and impactful conversation that creates positive influences for our industry. The discussions for the last three years have been centered on financial reform and Washington’s increased interest in financial markets.
The FIA is the trade organization for the futures, options and OTC cleared derivatives markets. Chopper is a member of the FIA Principal Traders Group (FIA PTG), which is affiliated with the FIA, and presents a forum for firms trading their own capital to identify and discuss issues confronting their community.
We look forward to attending select FIA upcoming events.
Since it was founded in 2002, Chopper Trading has established itself as a leader at the forefront of the electronic proprietary trading industry. Over the past decade, technology-based trading has revolutionized the financial industry, garnering an increasing proportion of market volume. Such growth breeds competition, and in the face of that competition, Chopper Trading has excelled, growing from a four-person Treasury shop to a 170-person firm, trading an array of products.
Chopper’s growth, as a firm, during what is being considered one of the worst global economic environments in history, is a testament to the innovative, hardworking and responsible men and women that make up our team. The high level of intelligence and commitment that the Chopper team operates at is the primary driver behind the firm’s continued performance and success.
In addition to the contributions that each Chopper employee makes to the firm, many employees also make a commitment to give back to the local community, and we believe that it is our responsibility to positively contribute to the places in which we live. We have fostered multiple relationships with organizations that share this same responsibility, such as the Boys and Girls Club of Chicago (BGCC), Pets Are Worth Saving (PAWS) Chicago and the Chicago Symphony Orchestra. These organizations provide us with an opportunity to give back to the community and help us develop a sense of awareness that extends beyond the trading floor.
Thanks to the dedicated men and women here at Chopper Trading, we have been able to grow as a firm over the last decade, and we have weathered the most challenging of economic climates. With this in mind, as 2012 comes to a close, we are very optimistic about the future and looking to set the industry bar.
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As part of FIA Expo, on Thursday, November 1st, Chopper Trading is sponsoring the Futures Cares Charity Dinner to benefit the Great Chicago Food Depository. The Futures Cares Charity Dinner gives companies and individuals in the futures and options industry the opportunity to provide funds to feed people in need. Futures Cares has raised over $1.2 million to help feed the hungry in Chicago over the last four years.
To find out more information about the fundraiser, visit the Chicago Food Bank website.
Additionally, the public can enter to win dinner for two at 12 of Chicago’s finest steakhouses to benefit the Greater Chicago Food Depository: www.chicagosfoodbank.org/chicagosteakhouses. The winner will be announced on Friday, November 2nd.
My colleague Leslie Stuphen, Director of Strategies and Implementation at Chopper Trading and I recently participated in an interview for the High Frequency Trading Review. At this interview we touched on a few topics like recruiting the right employees, how we stay a step ahead of competitors and managing risk in an aggressive environment.
Running a Proprietary HFT Frim: An Interview with Chopper Trading
In this interview for the High Frequency Trading Review, Mike O’Hara talks to Rajiv Fernando, Founder & CEO, and Leslie Sutphen, Director of Strategies and Implementation at Chopper Trading, the Chicago-based proprietary trading firm.
HFT Review: Rajiv, Leslie, welcome to the HFT Review. First of all can I ask you to give us a brief introduction to Chopper Trading?
Raj Fernando: We started in January of 2002. I was a cash bond trader, so for the first few years I taught everyone in the company how to trade Treasuries. Towards the end of 2004, manual execution was starting to get very difficult. We looked at all the third party software out there and none of it satisfied our requirements, so we started hiring programmers and we haven’t stopped since. As a result of this early investment in technology, we were able to pursue other types of automated trading and that brought us to where we are right now…
Read the full High Frequency Trading Interview with Raj Fernando here.