Ronin - anyone know whats happening?
Rumor is they can't make CME cash requirements... anyone know anything about this?
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they are bankrupt...gone
the exchange auctioned off their positions...margin call bankrupted the firm...yes..they are really gone
I’m not 100% sure that’s true but possible. The reports are saying they couldn’t meet margin which is different than capital. But likely bankrupt.
Those guys are huge. Quiet firm but they have a huge amount of guys. They no doubt got killed on basis trades and maybe a second time on something vix. They don’t seem like a firm that just sells vix.
They're gone. Their portfolio has been auctioned off (allegedly to Citadel)
I heard citadel too. Like I said well respected firm but quiet. I wonder if they just self recapitalize. I’d assume the backers have cashed out far more than what they left in firm.
I think they may be gone. https://www.dtcc.com/legal/important-notices , search for GOV857-20.
good find
Heard anecdotally that there RV Fixed Income guys blew up. I had been hearing for the past week or so that RV guys were feeling allot of pain being short bond futures and long off the the run treasuries.
My gut says basis. But they may have taken a second loss too. Basis blew out long before this news came out.
Heard they did deliver on all March expiries
Welp, Ronin was always a firm I wanted to join.
Saw this today if anyone is interested: https://finadium.com/alphacution-parplus-demise-attributed-to-equity-co…</a">Ronin article
looks like Parplus Partners may have been the catalyst that brought them down.
If I'm remebering correctly, wasn't their only real stratgey/mandate supposed to be Vol hedging? Like literaly the SP500 with some downside protection?
No idea. I remember looking up their 13f when I first heard about them a while back and only saw 100m in SPY. At the time I figured they were just ramping up and hadn't employed any stats yet.
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