The trading Dutchman (@TradingDutchman) / X

The trading Dutchman

1,756 posts

The trading Dutchman

@TradingDutchman

HFT market maker turned HF market taker. HF exec and market veteran. Occasional Dutch tweets.

singapore

Joined February 2016

The trading Dutchman
@TradingDutchman
Jan 21, 2024
Replying to @TimMeggs
I still encounter tier 1 & 2 banks that quote FX forwards / swaps via an excel sheet. In 2024!
203K
The trading Dutchman
@TradingDutchman
Jul 4, 2025
Interesting twist, did the regulator just give us a clue about JS secret ‘strategy’? on.ft.com/44UhJj5
The trading Dutchman
@TradingDutchman
Oct 13, 2024
The JS vs Millenium saga continues… Despite the whole world now trading Indian options , trying to mimic Jane Street, they are still making gazillions!
113K
The trading Dutchman
@TradingDutchman
Oct 13, 2024
The JS vs Millenium saga continues… Despite the whole world now trading Indian options , trying to mimic Jane Street, they are still making gazillions!
The trading Dutchman
@TradingDutchman
May 24, 2024
The fun continues, Jane Street got a temporary loophole to not have to disclose all details to everyone.
197K
The trading Dutchman
@TradingDutchman
Jun 25, 2025
Citadel, IMC and other PFOF’ers are worried options spreads will become tighter if market makers get latency protection. This will eat into their PFOF profits. We’ve seen the Citadel / Virtu pro-PFOF lobby is quite strong. Let’s see how this ends.
Bloomberg
@business
Jun 24, 2025
Citadel Securities is asking the Securities and Exchange Commission to stop a new exchange founded by the stars of Michael Lewis’s 2014 book “Flash Boys” from entering the options market bloomberg.com/news/articles/…
51K
The trading Dutchman
@TradingDutchman
Mar 7, 2025
Looks like a bad month for the multi-strats. ‘Sources’ say index rebal got hit, with one Millennium PM in Dubai losing $800m.
103K
The trading Dutchman
@TradingDutchman
Oct 6, 2025
About this article from last week, “hedge Funds and HFT’s are converging’ Having spent time in both I feel many hedgefunds, especially the large multi-strats don’t stand a chance in this game. HFT’s hire the best of the best of the best for all roles, and pay accordingly. Your
Hedge funds and high-frequency traders are converging
From ft.com
59K
The trading Dutchman
@TradingDutchman
Apr 20, 2024
More info coming out as expected. This weekend many firms will power up their Bloombergs to go look for ‘counter intuitive’ anomalies in the Indian options market.
118K
The trading Dutchman
@TradingDutchman
Mar 8, 2025
Small history lesson: Index rebalance strategies were relatively simple until the early 00’s. Just go long the inclusions and short the deletions a few days before the actual rebalancing worked fine most of the time. Predicting the announcement was super profitable. Then came
The trading Dutchman
@TradingDutchman
Mar 8, 2025
From the same article, this is nonsense. “Just a dozen firms employed the trade in 1998.” I know at least 5 firms in Amsterdam that did index rebal arbitrage in 1998 (including myself), and I’m sure all the big & small IB’s were doing it. US firms invented this game, so
56K
The trading Dutchman
@TradingDutchman
Feb 27, 2024
Graviton made $300m last year, and a big part of that was Indian options which they ‘human brute force’ with 300 people (in total). Optiver made $600m last year in Indian options. India options market is the new Korean options market? And volumes still growing strong!
58K
The trading Dutchman
@TradingDutchman
Jul 31, 2025
It’s CEO changing season in the HFT world. Both Virtu Financial and Flow Traders announced new CEO's. Lets dig in.. A thread… 🧵
37K
The trading Dutchman
@TradingDutchman
Jul 15, 2025
My former neighbour ran the main IR swap book at @Rabobank . They wanted to do a reorg, and as one does, they hired @McKinsey for political cover. Some freshly graduated $500 per hour junior consultants came in, and quizzed my guy about his book. After a few weeks, the
sophie
@netcapgirl
Jul 14, 2025
guy who thinks you hire mckinsey for their insights
35K
The trading Dutchman
@TradingDutchman
Feb 9, 2025
Interesting fact, the owner of that infamous hedge fund mentioned below, now runs a new $10 bln AUM multi-strat hedge fund called Verition.
Benn Eifert 🥷🏴‍☠️
@bennpeifert
Feb 9, 2025
Okay we'll do absurd and disastrous, can't quite get all four into one story. There was once a very famous hedge fund that would blow up on Jupiter-sized natural gas spreads. That blowup was so wild that none of the other big personalities got talked about.
43K
The trading Dutchman
@TradingDutchman
Apr 29, 2024
As expected, Jane Street has (for now) withdrawn the lawsuit. Still trying to make life miserable for Millenium though. But Millenium’s legal strategy seems to work. (“Oops, I didn’t mean to say India, sorry judge”) Downside is, the whole world is now looking at Indian options
The trading Dutchman
@TradingDutchman
Apr 20, 2024
More info coming out as expected. This weekend many firms will power up their Bloombergs to go look for ‘counter intuitive’ anomalies in the Indian options market.
43K
The trading Dutchman
@TradingDutchman
Oct 11, 2024
Wow, recruiter just told me HRT is up $6bln for the year already. They made $1bln in the last month in the China squeeze! Some other firms are showing similar number supposedly. Amazing! (Yes, back to Tradfi again @SybrendeVries, and there is no Hoyle factor in this number)
30K