Spot Trading

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Spot Trading
Spot Logo RGB.jpg
Founded 1999
Headquarters Chicago
Key People Robert D. Merrilees, Chairman; Stephen A. Brodsky, CEO
Products Technology-focused trading firm that specializes in equity options
LinkedIn Profile
Facebook SpotTrading
Website spottradingllc.com

Spot Trading was a privately held, proprietary trading firm active in multiple markets including cash, options, futures, and other derivatives. The firm shut down as of February 28, 2018. The Chicago-based firm was known for its market making activity on numerous exchanges.[1]

The firm was composed of a variety of traders, equity research analysts, technologists, quantitative specialists, and other professionals and employed a collaborative approach to its trading strategies.[2]

Spot Trading is a member of the Principal Traders Group, an affiliate of the Futures Industry Association.

History

Rob Merrilees founded Spot Trading in 1999 with a team of five focused on equity options. The company grew to over 150 people but scaled back to about 50 by November 2017.[3][4]

In November of 2010, Stephen A. Brodsky was named chief financial officer of the company.[5] In 2013, Merrilees moved to the newly created position of chairman and Brodsky assumed the role as CEO. Robin McInerney assumed the role of CFO.[6][7]

In June of 2014, Spot Trading was named one of "Chicago's 101 Best and Brightest Companies to Work for" by the National Association of Business Resources (NABR) for the fourth consecutive year.[8] [9]

Spot Trading was also selected as one of the Chicago Tribune’s Top Workplaces five consecutive years, from 2011 to 2015.[10] [11] [12]

In 2014, the firm launched a project called Zoom, an open API project designed to streamline and improve the efficiencies of its systems, and perhaps help other firms dealing with the complexity of trading technology. A number of developers signed onto the platform and Spot was interested in expanding to other areas as well.[13]

In March of 2014, Spot Trading announced the launch of a blog dedicated to talking about technology solutions. The firm said it hopes to stimulate thinking and promote collaboration in open source and other industries.[14]

The firm closed down in 2018 after a series of worker reductions brought on by industry consolidation.

Key People

References

  1. Spot Trading appears to have shut down operations. Crain's Chicago.
  2. A Profile on Spot Trading. Fintex.
  3. Spot Trading cuts headcount amid industry troubles. BusinessWeek.
  4. Spot Trading L.L.C.. Crain's Chicago.
  5. Spot Trading Names Stephen Brodsky Chief Financial Officer. Spot Trading.
  6. Spot Trading Elevates Merrilees to Chairman, Brodsky to CEO, McInerney to CFO. Spot Trading.
  7. Spot Trading Elevates Merrilees To Chairman, Brodsky To CEO, McInerney To CFO. Tucson News.
  8. Spot Trading Named For Fourth Consecutive Year As One Of "Chicago's 101 Best and Brightest Companies to Work For. Spot Trading via PR Newswire.
  9. Spot Trading Named One of "Chicago's 101 Best and Brightest Companies to Work for". PR Newswire.
  10. Spot Trading Named For Fifth Consecutive Year As One Of "Chicago's Best And Brightest Companies To Work For®". PR Newswire.
  11. For Spot Trading, the whole is greater than the parts. The Chicago Tribune.
  12. Spot Trading Chosen for Second Consecutive Year As One Of The Chicago Tribune's Top Workplaces. PR Newswire press release.
  13. A Profile on Spot Trading. Fintex.
  14. printf(“Hello World!\n”);. Spot Trading LLC.