RGM Advisors, LLC

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RGM Advisors, LLC
Rgm logo.jpg
Founded 2001
Headquarters Austin, Texas
Key People Robbie Robinette, Richard Gorelick, Mark Melton, Travis Schwab
Employees 110
Website www.rgmadvisors.com

RGM Advisors, LLC is a proprietary trading firm that trades multiple asset classes around the world.[1] It focuses on high-frequency, high-volume trading strategies, taking short-term positions in thousands of instruments,[2]and is based in Austin, Texas. It also maintains an office in London through an affiliate.

The company develops its own algorithms and has its own execution platform to support them. RGM only executes trades algorithmically.[3]

RGM has a team of approximately 110 professionals, including software developers, information technologists and scientists with backgrounds in computer science, physics, chemistry, statistics and ecology.

The firm was acquired by DRW in September 2017. [4]

History

In 2001, RGM President Robbie Robinette, Richard Gorelick and Mark Melton founded RGM, initially setting up business operations in Robinette’s Austin, Texas living room. The company commenced trading in December of that year, and in early 2002 moved into more traditional office space down the street in the Tarrytown neighborhood of Austin.

The company gradually expanded its trading operations and began automated trading of NASDAQ equities in 2001. Over the next few years, the company added NYSE stocks, exchange-traded funds (ETFs), futures and currencies to its trading mix.

In June 2005, the company moved its headquarters to a building in downtown Austin to accommodate its growing team.[5] In October 2005, the company established a UK affiliate and opened its London office to manage its European trading.

In January of 2008, the growth private equity and buyout firm TA Associates completed a minority equity investment in RGM Advisors, LLC (RGM). The amount and terms of the investment were not disclosed.[6]

CEO Gorelick and fellow RGM Advisors executives rang the opening bell at the New York Stock Exchange trading floor on May 3, 2010, three days before the May 6 Flash Crash.[7][8]

3 May 2010 RGM Advisors Visits the NYSE

In August of 2017 the Chicago-based trading firm DRW said it would acquire RGM Advisors LLC in a deal that would close in September. RGM had made big profits in the years following the 2008 financial crisis, but in 2017 had been losing money amid the lack of volatility in the markets, and it was reportedly looking for a buyer.[9]

Key People

References

  1. Home Page. RGM.
  2. RGM History. RGM.
  3. Algorithmic Round Table. FX Week.
  4. DRW to buy RGM in latest deal among high-speed trading firms. Reuters.
  5. Downtown Buildings May Change Hands. Austin Business Journal.
  6. Press Release. TA Associates.
  7. 3 May 2010 RGM Advisors Visits the NYSE. YouTube.com.
  8. RGM Advisors Visits the NYSE. NYSE Euronext.
  9. Sale of Once Hot High-Frequency Trading Firm Reflects Industry Troubles. The Wall Street Journal.