Advantage Futures
From MarketsWiki
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| Advantage Futures | |
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| Founded | June 2, 2003 |
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| Headquarters | Chicago, IL |
| Key People | Joseph Guinan, CEO |
| Products | Futures brokerage |
| @FuturesNews | |
| Corporate Website | www.advantagefutures.com/ |
Advantage Futures is a futures commission merchant (FCM) that is registered with the Commodity Futures Trading Commission (CFTC). It is a member of the National Futures Association (NFA).
Advantage Futures emphasizes technology, risk management, customizable back-office operations and personalized client services for institutions, hedge funds, CTAs, proprietary trading groups and professional traders.[1] Advantage Futures' personnel provide technology-driven clearing and execution services for futures trading.[2]
Advantage Futures' services include a technology infrastructure with multiple trading locations, server colocation at six data centers (in Chicago and Frankfurt, Germany), and a disaster recovery center. They also have a 24-hour Global Execution Desk, and 24-hour technology support and risk management and operations support. The firm works with diverse institutional clients that utilize high volume execution and value-added trade ideas.
The futures brokerage firm has processed over 2 billion client contracts in the past eight years.
In 2010, Advantage Futures was listed number 30 in terms of FCM customer equity with over $281 million, according to FuturesMag.com Top 50 Brokers.[3]
Advantage Futures provides trading access to most domestic and foreign exchanges through both direct clearing memberships and correspondent broker relationships. Advantage is a clearing member or exchange member of the CME Group (Chicago Board of Trade (CBOT), Chicago Mercantile Exchange (CME), NYMEX, and COMEX), LIFFE, Eurex, ICE U.S. and ICE Europe (Intercontinental Exchange), Montreal Exchange, The Clearing Corporation, Options Clearing Corp, and CBOE Futures Exchange. On Dec. 15, 2010, Advantage Futures became an authorized Participant and FCM for ELX Futures.[4]
Contents |
History
Advantage Futures was founded on June 2, 2003. The firm has processed over 2 billion contracts in the past eight years.[5]
News
- On Apr. 28, 2011, Advantage Futures Surpasses 2 Billion Contracts.[6]
- On Apr. 6, 2011, Advantage Futures Joins Patsystems XConnect.[7]
- On Apr. 4, 2011, Advantage Futures announced that client funds held by the firm attained a record level in excess of $500 million.[8]
- On Dec. 15, 2010, ELX Futures, L.P. (ELX), a leading electronic futures exchange offering a global alternative to trade U.S. Treasuries and Eurodollar futures contracts, announced that Advantage Futures, a premier technology-focused futures brokerage firm, will become an authorized Participant and offer Futures Commission Merchant (FCM) services for ELX.[9]
- On Dec. 8, 2010, Advantage Futures announced the promotion of Michael O'Hara to the rolde of President, Professional Trader Group.[10]
- On Nov. 9, 2010, Advantage Futures provides faster market access to NYSE Liffe for Equinix - Frankfurt customers. Advantage offers cross-connect access to NYSE Liffe from our Equinix Frankfurt (FR2) data center. NYSE Liffe traders can now utilize the Advantage Futures cross-connect for lower latency access to the Liffe global derivatives trading platform.[11]
- On June 8, 2010, Advantage Futures announces the most aggressive expansion in the firm’s history. The firm plans to increase employment by over 15% in the next few weeks.[12]
- On Jan. 6, 2010, Advantage Futures announced Dr. Randall Kroszner, the Norman R. Bobins Professor of Economics at the University of Chicago and former member of the Board of Governors of the U.S. Federal Reserve System, will speak at the first 2010 Seminar Series event on Jan. 26, 2010, co-sponsored by the CME Group. Advantage Futures offers a monthly seminar series focusing on educating futures traders in topics ranging from macroeconomics to detailed technical analysis.[13]
- On Sept. 22, 2009, Advantage Futures announced it attained record high client funds of over $374 million in August 2009. This comes during Advantage Futures seventh year in business, and just two months after the reach of 1.5 billion contracts cleared milestone.[14]
- On June 26, 2009, Advantage Futures announced it reached a landmark achievement, surpassing 1.5 billion futures contracts cleared. The news comes as Advantage completes its sixth year of business.[15]
- On June 18, 2009, Advantage Futures launched a free social networking page on Twitter. This page, accessed at www.twitter.com/FuturesNews, enables futures traders and industry professionals to stay up-to-date on the latest developments at Advantage Futures and within the industry.[16]
- On Apr. 13, 2009, Advantage Futures announced it had been approved for clearing membership by the CBOE Futures Exchange (CFE). Advantage Futures now offers traders the ability to trade futures on the CBOE Volatility Index (VIX), the world's barometer for equity market volatility.[17]
- On March 5, 2009, Advantage Futures announced its approval for clearing membership by NYMEX and COMEX. These memberships allow Advantage to deliver its premier level of technology and client service to NYMEX and COMEX traders. NYMEX is now owned by the CME Group, and hosts markets for trading and clearing of energy, metals, softs, and environmental commodity futures and options, including COMEX Division metal futures and options products and miNY™ futures.[18]
- On Feb. 17, 2009, Advantage Futures announced its new server hosting data center at Equinix in Franfurt, Germany, in addition to its current data centers located in Chicago and Houston. The new data center provides Advantage clients direct connection to Eurex exchange. It includes wide bandwidth conections from Chicago to Frankfurt and high bandwidth internet access providing customers the ability to connect via a secure Cisco VPN client or a secure VPN tunnel.[19]
- On Nov. 19, 2008, Advantage Futures announced the promotion of 21-year industry veteran William Harrington to the role of executive vice president, sales manager, a new position at the firm.[20]
- On July 24, 2008, Advantage Futures announced it had signed a software license agreement for a full installation from Patsystems. As a result of the installation, Advantage Futures now offers Patsystems’ front-ends, including Patsystems Pro-Mark and Patsystems J-Trader. The installation also provides Advantage Futures with global connectivity to derivatives markets including the CME Group, Eurex, and Liffe exchanges.[21]
- On June 4, 2008, Advantage Futures announced it had been approved for membership with ICE Clear U.S., providing its clients with more efficient access to the ICE Futures U.S. markets. ICE Clear U.S. is the designated clearinghouse for ICE Futures U.S., and operates as a registered Derivatives Clearing Organization (DCO) under the regulation of the U.S. Commodity Futures Trading Commission (CFTC).[22]
- On Jan. 23, 2006, FO Week’s Jim Kharouf spoke with Joe Guinan, chairman and CEO about how his firm got to be so big, so fast.[23] The firm had risen to the number one spot in electronic trading volume at Chicago Board of Trade (CBOT) and was the top firm in interest rate volume at Chicago Mercantile Exchange (CME) in 2005.
- On June 23, 2005 Advantage Futures and Trading Technologies International, Inc. announced they had reached an agreement ensuring that there were not issues between the parties regarding TT's MD Trader patents. As part of the agreement, Advantage agreed to honor TT’s MD Trader patents and agreed to only use the static ladder order entry technology provided by TT or its licensed sources. TT agreed to absolve Advantage and its customers from liability for very limited past infringement.[24]
Key People
- Chairman and Chief Executive Officer, Joseph Guinan
- Chief Administrative Officer, John Schlaefke
- Chief Compliance Officer, Lisa Jones
- Chief Risk Officer, William Steele
- Chief Information Officer, Thomas Guinan
- Chief Financial Officer, Jim Haney
- Chief Marketing Officer, Iqbal Brainch
- President, Institutional Sales, Michael McLaughlin
- Executive Vice President, Sales Manager, William Harrington
- Senior Vice President, Business Development, Michael O’Malley
- Operations Manager, Philip Singer
Registration
National Futures Association Registration
- ADVANTAGE FUTURES LLC - NFA ID: 0327359
References
- ↑ Count On Our Inside Advantage. Advantage Futures.
- ↑ Count On Our Inside Advantage. Advantage Futures.
- ↑ Futures Top 50 Brokers. FuturesMag.com.
- ↑ Advantage Futures Partners with ELX to Offer FCM services. Marketwire.
- ↑ Count On Our Inside Advantage. Advantage Futures.
- ↑ Advantage Futures Surpasses 2 Billion Contracts. Advantage Futures.
- ↑ Advantage Futures Joins Patsystems XConnect. Patsystems.
- ↑ Advantage Futures Client Funds Surpass $500 Million. Advantage Futures.
- ↑ Advantage Futures Partners with ELX to Offer FCM Services. Advantage Futures.
- ↑ Advantage Futures Promotes Michael O'Hara to President, Professional Trader Group. Advantage Futures.
- ↑ Advantage Futures Brings Liffe to Frankfurt. Advantage Futures.
- ↑ Advantage Futures Announces Aggressive 15% Expansion. Advantage Futures.
- ↑ Dr. Randall Kroszner to Kick-Off Advantage Futures 2010 Seminar Series. finance.yahoo.com.
- ↑ Advantage Futures Achieves Record Client Funds. Advantage Futures.
- ↑ Advantage Futures Clears 1.5 Billion Contracts. Advantage Futures.
- ↑ Advantage Futures Launches "FuturesNews" Through Twitter. Advantage Futures.
- ↑ Advantage Futures Announces Approval of CFE Clearing Membership. Advantage Futures.
- ↑ Advantage Futures Announces Approval of NYMEX and COMEX Clearing Memberships. Advantage Futures.
- ↑ Advantage Futures Announces New Equinix Frankfurt Data Cenger. Advantage Futures.
- ↑ Advantage Futures Appoints William Harrington as Executive Vice President Sales Manager. Advantage Futures.
- ↑ Advantage Futures is now live with Patsystems. Advantage Futures.
- ↑ Advantage Futures Announces ICE Clear U.S. Membership. Advantage Futures.
- ↑ Traders have the Advantage. Futures and Options Week.
- ↑ Press Release. Advantage Futures.
