Jump Trading LLC
| Jump Trading | |
| |
| Founded | 1999 |
|---|---|
| Headquarters | Chicago |
| Key People | Bill Disomma, Paul Gurinas |
| Employees | 400+ |
| Products | Proprietary Trading |
| Website | www.jumptrading.com |
Jump Trading LLC is a proprietary trading firm with a focus on technology and, specifically, algorithmic and high-frequency trading strategies. The firm has over 400 employees in the futures, options and equities markets in New York, Chicago, London and Singapore.[1] It trades all major asset classes on electronic exchanges worldwide, and is one of the world’s largest high-frequency trading firms.[2]
The company is a member of the Principal Traders Group, an advisory 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).[3]
Jump is a privately-funded company.[4]
History[edit]
Jump Trading was founded in 1999 by two former pit traders, Paul Gurinas and Bill Disomma, who met in the Deutsche Mark pit at the CME. While the firm got their start in the open outcry pits, Jump Trading does most of their trading electronically. [5]
According to a 2014 Bloomberg article, William R. Shepard is alleged to be a part-owner of Jump Trading.[6]
The company has made substantial investments in high-speed trading technology and infrastructure, including a Belgian microwave tower once owned by NATO, purchased in 2013 by a U.K. affiliate.[7]
In April 2014, Jump was one of six high speed trading firms subpoenaed by New York Attorney General Eric Schneiderman regarding their trading strategies, as well as the special arrangements they may have with exchanges and dark pools.[8]
Gurinas and DiSomma also founded a venture capital firm, Jump Capital, in June 2012. By January 2016, the firm had invested in 30 companies. Jump Capital also invested $5 million in The Small Exchange in May 2019, a start-up retail trading futures exchange.[9][10]
Jump Trading is registered broker-dealer, and a member of numerous exchanges including CME Group and the New York Stock Exchange. They are also members of most European exchanges including Eurex and the London Stock Exchange. [11]
Charitable Work[edit]
In 2013, Jump Trading donated $25 million to fund the creation of the Jump Trading Simulation and Education Center.
In February 2014, Jump Trading donated an additional $25 million to fund a joint medical research project between a Peoria simulation & education center and the University of Illinois at Urbana-Champaign's College of Engineering. In a statement from the institutions, the donation will support doctors and engineers working together on clinical simulation, education and health care issues striving to "improve the quality of care and outcomes for patients" and "reduce health care costs".[12]
Jump Crypto[edit]
Jump launched Jump Crypto, its digital-assets unit, in 2015.
Jump Trading was among trading firms questioned by U.S. prosecutors in a probe of the failed TerraUSD stablecoin project. Jump Crypto had been a major backer of the TerraUSD project starting in 2019. So far no one at Jump has been accused of wrongdoing.
In May of 2023, Bloomberg reported that two unnamed sources said Jump Crypto was pulling back from U.S. markets, while still planning to expand internationally.[13]
Key People[edit]
- Bill Disomma, Partner
- Matt Schrecengost, Chief Operating Officer
- Carey Harrold, Chief Financial Officer
- Tessa Wendling, General Counsel
- Steve Hunt, Chief Technology Officer
References[edit]
- ↑ High-Speed Traders Said to Be Subpoenaed in N.Y. Probe. Bloomberg.
- ↑ High-Speed Trading Firm Jump to Execute Retail Investors' Stock Trades. The Wall Street Journal.
- ↑ High-Frequency Traders Get A New Name. Forbes.
- ↑ Open Positions. Jump Trading.
- ↑ It's Not The Pits. Forbes.
- ↑ Don’t Tell Anybody About This Story on HFT Power Jump Trading. Bloomberg.
- ↑ Wall Street Grabs NATO Towers in Traders’ Speed-of-Light Quest. Bloomberg.
- ↑ NY attorney-general subpoenas high-frequency traders. FT.com.
- ↑ Why Chicago's best traders are moving into venture capital. Crain's Chicago Business.
- ↑ The Small Exchange Raises $10 Million from Citadel Securities and Jump Capital in New Strategic Financing Round. Press Release.
- ↑ Staff costs weigh on Jump's UK profits. Financial News.
- ↑ Jump Trading gives $25 million to medical research project. Crain's Chicago Business.
- ↑ Jane Street, Jump Pull Back Crypto Trading Over US Regulatory Uncertainty. Bloomberg News.