Market maker Optiver is the latest firm to expand footprint Volatility, changes in trading habits are a boost for firms Before it’s here, it’s on the Bloomberg Terminal LEARN MORE Chicago’s top trading firms are questioning their commitment to the city in the face of proposed taxes and rising crime. That’s not stopping some of them expanding their footprint. Optiver, a market maker employing about 400 people in the city, has just moved into new offices at One Prudential Plaza in downtown...

Commodity investors are following a hot trend in equities trading, using short-term options to bet on events from jobs and crop reports to OPEC meetings. Trading in commodity contracts that expire weekly jumped an average of 30% annually over the past three years, according to data from CME Group Inc., the US’s largest derivatives exchange. Volumes were led by a 50% average increase a year in energy in the 2020 to 2023 period, followed by metals and agriculture. The growth underscores how...

In the heart of Chicago’s financial center, a seven-story building occupying much of a city block was once home to the world’s largest options exchange. Now, it’s collecting dust. The property, for decades home to the floor where options traders jostled and screamed orders at each other, has been on the market since 2019, but owner Cboe Global Markets Inc. can’t find a buyer.

(Bloomberg) -- The cyberattack on a UK-based software firm that upended some derivatives trading doesn’t pose a “systemic risk to the financial sector,” a senior official in the US Treasury Department said Wednesday. Most Read from Bloomberg The attack of ION Trading UK, first reported on Tuesday, affected 42 of its clients and forced several European and US banks and brokers to process trades manually. The company’s software is used to complete derivatives trades across stock, bond and...

Volcafe Ltd., one of the world’s top coffee traders, has tapped a former Starbucks Corp. managing director to take on the role of chief operating officer. Tim Scharrer, who headed Starbucks’s coffee trading arm until mid-October, will take his new role from Feb. 1, Volcafe Managing Director Trishul Mandana wrote in the memo sent to clients. He will also develop the Swiss company’s presence in Europe and East Africa, according a Wednesday statement, confirming Bloomberg’s earlier report. The...