DV Trading

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DV Trading.jpg
Founded 2006
Headquarters Chicago
Key People Jared Vegosen, CEO; Dino Verbrugge, President
Employees 225
Products Proprietary trading, market making
LinkedIn Profile
Website dvtrading.ca

DV Trading is a Chicago-based proprietary trading firm that makes markets on securities and derivatives exchanges worldwide. The firm also trades financial and physical crude oil, refined products, and natural gas through its DV Energy division.[1]

DV Trading is a member of the FIA Principal Traders Group, a lobby group formed by the Futures Industry Association (FIA) to represent principal traders (i.e. independent proprietary trading firms that trade only on their own accounts).[2]

History

From 2007 to 2016, DV Trading was a wholly owned subsidiary of Rosenthal Collins Group, a Chicago-based futures commission merchant. However, the firm's two principals, Jared Vegosen and Dino Verbrugge, split from RCG to assume full ownership of DV and its 225 employees on September 1, 2016.[3][4]

Verbrugge founded the firm in Toronto in 2006 and in 2007, Vegosen, with backing from RCG, opened the Chicago office, which now serves as the firm's headquarters. The firm provides liquidity in a number of markets, including futures and options on interest rates, commodities and equities. About 150 of its employees - traders, quantitative researchers, and developers - operate out of its Chicago office.

In 2017, DV Trading, formerly known as Rosenthal Collins Capital Markets, was fined $5 million by the U.S. CFTC for engaging in illegal wash sales designed to generate exchange rebate fees.[5] A separate order from the CFTC named RCCM trader Brandon Elsasser, who was required to pay a fine of $200K. The offenses occurred during 2013 to 2015 and involved eurodollar pack and bundle trading.

Also in 2017, DV Trading bought Eldorado Trading, a Chicago-based rival proprietary trading group.[6]

Key People

References

  1. Company Overview of DV Trading LLC. Bloomberg.
  2. Membership. FIA PTG.
  3. Disclosure Document. Rosenthal Collins Group.
  4. DV Trading breaks away from Rosenthal Collins. Crain's Chicago Business.
  5. CFTC Orders Rosenthal Collins Capital Markets LLC, Now Known as DV Trading LLC, to Pay a Civil Penalty of $5 Million for Engaging in Illegal Wash Sales Designed to Generate Exchange Rebate Fees. CFTC.
  6. {{{name}}}. Crain's Chicago Business.