Susquehanna International Group

Susquehanna International Group, LLP (SIG) is a privately held, global trading and technology firm. SIG comprises a number of affiliated entities specializing in trading and proprietary investments in equities, fixed income, energy, commodity, index and derivative products, private equity and venture capital, research, customer trading and institutional sales. Susquehanna is probably best known for derivatives pricing and trading, especially equity options.

SIG's European Headquarters in the IFSC, Dublin
Susquehanna International Group, LLP
TypePrivately held company, Partnership
Industry
Founded1987
Founder
  • Jeff Yass
  • Gerald Yass
  • Arthur Dantchik
  • Steve Bloom
  • Eric Brooks
  • Andrew Frost
  • Joel Greenberg
  • Peter Smith
HeadquartersBala Cynwyd, Pennsylvania, US
Area served
served across 25 outlets located worldwide
Products
Number of employees
1900+
Websitehttps://www.sig.com/

SIG is a specialist or DPM (designated primary market maker) in approximately 600 equity options and 45 index options on the CBOE, AMEX, PHLX, and ISE, including equities such as Google, Goldman Sachs, JPMorgan Chase, GE, PepsiCo, and Microsoft, and indices such as Nasdaq and Russell 2000 options.[1]

SIG's headquarters office is in Bala Cynwyd, a western suburb of Philadelphia, Pennsylvania, US, and its European headquarters are in the IFSC, Dublin, Ireland. The firm employs more than 1,900 people in offices across North America (New York City, Chicago, San Francisco, Philadelphia, Boston, Stamford), Australia (Sydney), Europe (Dublin, London) and Asia (Shanghai, Beijing, Hong Kong, Tokyo).[2] SIG is one of the largest employers in Lower Merion Township[3][4] and was listed as one of Philadelphia magazine's "Coolest Companies" in 2015.[5]

The Company

SIG was founded in 1987 by Jeff Yass, Gerald Yass, Arthur Dantchik, Steve Bloom, Eric Brooks, Andrew Frost and Joel Greenberg. SIG's operations extend across North America, Europe, and Asia. They trade essentially all listed financial products and asset classes in markets around the world.[6] SIG's domestic and international market making, specialist and electronic trading operations are among the most sophisticated in the industry, ranking SIG among the leading liquidity providers thanks to its operations at exchanges including the Chicago Board Options Exchange.[7] In 2013, Glassdoor ranked SIG first in the best US financial services companies to work for.[8]

Poker

Poker and other games are an important part of the SIG company culture. The founders and senior traders believe that poker teaches lessons on decision making under conditions of uncertainty. SIG hosts an internal poker tournament annually and has even used poker as a recruiting tool.[9] The company employs Bill Chen, a World Series of Poker star, in its quantitative trading group.[10]

Quantitative Trader program

The Quantitative Trader (QT) program (formerly the Assistant Trader program) develops traders for positions in the market making and trading businesses. A QT will be introduced to the financial markets through a combination of practical training on a trading desk that is supported with ongoing theoretical classroom instruction.

The QT will be assigned to a trading desk to support the daily activities for ongoing trading. He/She will work directly with a trader who is available to answer questions and provide feedback. Two senior traders teach the theoretical classroom education, which is the core of the program. Simulated trading sessions and classes that highlight the key elements of trading make up the program’s curriculum. Class topics include option theory, decision science, corporate finance, game theory, and market structure.

Upon completion of the QT program (which typically lasts anywhere from 9 to 18 months), all QTs will attend the formal ten-week SIG Market Maker Class, which is the final step before becoming a trader at SIG.[11]

Bitcoin trading desk

Since 2016, the company has built a Bitcoin trading desk that is now being expanded to include 500 of its clients, according to the New York Times. Susquehanna will be trading futures that are tied to Bitcoin prices, and enable customers to purchase and sell Bitcoin and other cryptocurrencies such as Ethereum and Bitcoin Cash.[12]

The move follows the company's assumption that Bitcoin will predominantly be used to challenge gold as a rare commodity for the near future, but will eventually transform financial services and "exist forever."[12]

References
  1. http://www.cboe.com/publish/ScheduledTask/MktData/cboesymboldir2.csv
  2. "SIG Locations". sig.com. Retrieved 2017-09-29.
  3. "Lower Merion, Pennsylvania is MONEY's No. 46 Best Place to Live in America". Money. Retrieved 2017-09-29.
  4. "Principle Employers of Lower Merion, PA (2009)". Retrieved 27 July 2012.
  5. "Philly's Coolest Companies 2015". Philadelphia Magazine. 2015-10-25. Retrieved 2017-09-29.
  6. "Quantitative Trading Products | Options, Energy, Equities, Bonds & More | SIG". sig.com. Retrieved 2017-09-29.
  7. "Cboe Options on Commodity-based ETFs". www.cboe.com.
  8. Smith, Jacquelyn. "The Best Financial Services Companies to Work For".
  9. "Poker Archives | Raise Your Game". Raise Your Game. Retrieved 2017-09-29.
  10. "William Chen". www.billchenpoker.com.
  11. "Campus Programs | Assistant Trader Program & Internship | SIG". sig.com. Retrieved 2017-09-29.
  12. "One Firm Is Way Ahead of Wall Street on Bitcoin". The New York Times. 2018-06-05. ISSN 0362-4331. Retrieved 2018-06-07.
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