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…