Dark Side of the Moon

Hi dudes,

Anybody heard of Eclipse Options/have any inside info? Founded by ex-Optiver trader, HK-based, expanding now to Aus

Cheers

9 Comments
 
Best Response

It does prop trading - primarily on equity derivs & main strategy is trading vol and keeping delta flat. Market maker in HK, Osaka etc. Used to trade with Orc, but spent shXt loads of money in building its own trading system from front to end. Quite ambitious - did open up an Europe office in Amsterdam before - trading indices like DAX. But closed down eventually due to fXXked up by traders and lost hell lot of $$ - and traders got sacked! Used to have a senior aussie trader in the team as well - but got sacked earlier due to taking too much risk - and not followed the style of the boss (the "ex-optiver trader") - so advice is to follow the boss and not trying to be smart - otherwise would fall out of favour very easily and quickly

 

Thanks for that mate pretty comprehensive!

Any idea of future of company/growth strategy/compensation structure etc?

Moving tonnes of product. Making fat stacks.
 

It's been investing greatly on automated trading / hedging systems. Given its prevailing trading style, its profit relies heavily on the market turnover - so with market being slower than the good old days, the apparent way to seek for growth is to run the similar set of systems in new markets.

compensation wise - unlike those in banks, the pie is divided more evenly among traders & devs - heard that quite a few traders got even less bonus than devs in past year or two.

 

Thanks again Igor! sorry no SBs.

What kind of reputation do these guys have in the MM space? How do they compare to other more established shops like Optiver/Tibra/IMC/SIG.

Do you know if they're strictly MM'ing or if they engage in other algo strats etc

Moving tonnes of product. Making fat stacks.
 

They're profitable in past years, relatively young comparing Optiver etc.

Definitely they don't just do MM - majority is algo trading. MM mainly for fee reduction as member in markets. They did try to quote for profit in other markets before, but lost quite substantially. But things may change though.

 

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