Haim Bodek

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Haim Bodek
Haim bodek headshot.jpg
Occupation Founder
Employer Decimus Capital Markets, LLC
Location New York area
Twitter @HaimBodek
LinkedIn Profile
Website http://haimbodek.com/

Haim Bodek is the founder of Decimus Capital Markets, LLC and Haim Bodek Consulting, which provides consulting services for financial institutions operating in the algorithmic and systematic trading space.[1] He is an electronic trading executive and algorithmic trading strategist with 15 years of experience in the automated trading space.[2]

He gained fame for exposing a little-known practice of HFT quantitative firms: the use of hidden order types that allowed HFT clients to have their orders at the top of the limit order books a much greater portion of the time. He discovered this while working at a quantitative fund, Trading Machines, which suddenly turned from being highly profitable to losing money daily. After consulting with tech and sales people from one of the exchanges, he learned that this new order type had been developed by them, with the help of some HFT clientele. When his firm began using the order type, they were back to profiting. The episode was chronicled in the book Dark Pools by Scott Patterson. [3]

He is the author of the book The Problem of HFT.

Background

Bodek is also the founder of Trading Machines LLC, a high frequency options trading firm.

He previously headed the electronic volatility trading business at UBS investment bank.

He negotiated an exclusive seven year option order routing arrangement between UBS and Charles Schwab & Co. and designed and oversaw the implementation of its associated options order router.

He was lead electronic trading strategist at Hull Trading, an option market making firm acquired by Goldman Sachs.

Haim Bodek's father, Arie Bodek, is a particle physicist who worked at Fermilab during Haim's childhood.[4][5]

Education

Bodek earned a B.A. in Mathematics and Cognitive Science from the University of Rochester. He holds Series 3, 4, 7, 24, 55, 63, and 65.

Video

Bodek spoke at the 2015 MarketsWiki Education World of Opportunity Summer Intern Education Series in New York.

A Flash Course on Market Structure

"In the market there are edges that are permissible, and edges that are impermissible. It is the impermissible ones that you should care about. If it doesn’t smell right, leave."

Published articles

References

  1. About Us. Decimus Capital Markets, LLC.
  2. Haim Bodek. Amazon.com.
  3. Trading Machines, Order Types, and Haim Bodek. Themis Trading.
  4. What Led Whistle-Blower Haim Bodek to Expose the Biggest Scam on Wall Street?. Vice.
  5. 2004 W.K.H. Panofsky Prize in Experimental Particle Physics Recipient. APS Physics.