Please say hello to another member of the Simplex team - trader Marcus Duquette. Marcus has been with the team since August 2020, and is responsible for working on a variety of projects at Simplex within electronic #marketmaking. Learn more about Marcus below: ๐ช๐ต๐ฎ๐ ๐ถ๐ ๐๐ผ๐๐ฟ ๐๐ถ๐๐น๐ฒ? ๐ช๐ต๐ฎ๐ ๐ฎ๐ฟ๐ฒ ๐๐ผ๐๐ฟ ๐ธ๐ฒ๐ ๐ฟ๐ฒ๐๐ฝ๐ผ๐ป๐๐ถ๐ฏ๐ถ๐น๐ถ๐๐ถ๐ฒ๐ ๐ฎ๐ ๐ฆ๐ถ๐บ๐ฝ๐น๐ฒ๐ ?ย I'm a trader on the electronic market making desk at Simplex.ย My key responsibilities are designing, improving and parameterizing our algorithmic trading algorithms and improving our option pricing. ๐ช๐ต๐ฎ๐ ๐๐ธ๐ถ๐น๐น๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ผ๐๐ฟ ๐ฝ๐ฟ๐ฒ๐๐ถ๐ผ๐๐ ๐ฟ๐ผ๐น๐ฒ๐ ๐ต๐ฎ๐๐ฒ ๐ต๐ฒ๐น๐ฝ๐ฒ๐ฑ ๐๐ผ๐ ๐๐๐ฐ๐ฐ๐ฒ๐ฒ๐ฑ ๐๐ถ๐๐ต ๐ฆ๐ถ๐บ๐ฝ๐น๐ฒ๐ ? I started at Simplex straight out of undergrad, but I'd spent a few summers working in different parts of the market, including in a couple of trading pits.ย This work showed me market structure from a variety of angles and taught me the mindset of different market participants. The work in trading pits also let me literally see orders working their way through the market, from customers to brokers to market makers, which gave me a good mental model to build on top of when learning about the electronic options market. ๐ช๐ต๐ฎ๐ ๐ฑ๐ผ ๐๐ผ๐ ๐น๐ผ๐๐ฒ ๐บ๐ผ๐๐ ๐ฎ๐ฏ๐ผ๐๐ ๐๐ผ๐๐ฟ ๐ท๐ผ๐ฏ? ๐๐ฏ๐ผ๐๐ ๐ฆ๐ถ๐บ๐ฝ๐น๐ฒ๐ ? Working in financial markets is fun because there's a lot of complexity to understand, and it's constantly changing. Working as an electronic trader at Simplex is fun because once you've addressed a piece of that complexity you can handle that in the trading algorithms and then move on to the next problem. Because of this there's very little repetitive work. Simplex specifically has been a great place to work because they allow people to work on their own projects very quickly, and are willing to put them in production. New employees can tackle big projects very soon after starting. ๐ช๐ต๐ฎ๐ ๐ถ๐ ๐ผ๐ป๐ฒ ๐๐ต๐ถ๐ป๐ด ๐๐ผ๐๐ฟ ๐ฐ๐ผ๐น๐น๐ฒ๐ฎ๐ด๐๐ฒ๐ ๐๐ผ๐๐น๐ฑ ๐ฏ๐ฒ ๐๐๐ฟ๐ฝ๐ฟ๐ถ๐๐ฒ๐ฑ ๐๐ผ ๐ธ๐ป๐ผ๐ ๐ฎ๐ฏ๐ผ๐๐ ๐๐ผ๐? I ran a marathon last fall, and decided to do that around mile 12. ๐ง๐ฒ๐น๐น ๐๐ ๐ฎ๐ฏ๐ผ๐๐ ๐๐ผ๐๐ฟ ๐ฝ๐ฟ๐ผ๐๐ฑ๐ฒ๐๐ ๐ฎ๐ฐ๐ฐ๐ผ๐บ๐ฝ๐น๐ถ๐๐ต๐บ๐ฒ๐ป๐ (๐ฐ๐ฎ๐ป ๐ฏ๐ฒ ๐ป๐ผ๐ป-๐๐ผ๐ฟ๐ธ ๐ฟ๐ฒ๐น๐ฎ๐๐ฒ๐ฑ). I rewrote our trading algorithm that responds to price improvement auctions. This pulled together a lot of what I've learned here about options pricing and market microstructure. #MeetSimplex #LifeAtSimplex
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We Make Crypto Work For Everyone! Our algorithmic trading system ensures that our financial results are unaffected by market trends.
What were the main ideas and motivations behind creating an algorithm for algorithmic trading? The primary idea was to create an automated trading system that could fully handle everything for the trader, from market analysis to setting stop-losses. If I may say so, we were driven by the desire to fully automate the system and make it as loss-free as possible. One of the main motivations was to create an innovative product that everyone could use. We originally hoped that our algorithm would become, so to speak, popular, although at the beginning of the journey it was only used by professionals. Maximizing profits and minimizing losses, automatically executing operations when trading cryptocurrencies - that's what we aimed for, and it seems we were able to achieve it.
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