Dressed For Market Success

Optiver was founded thirty five years ago in Amsterdam as a single trader on the European Options Exchange (EOE). It is now a global electronic "market maker" with offices in Chicago, Sydney, London, Shanghai, Taipei, Hong Kong and of course Amsterdam. “As a market maker, it is our responsibility to improve liquidity in the market,” says Denny Man, who has worked as a trader at Optiver for five years. “We continue to trade even during extremely turbulent market conditions. This allows investors to better manage their risks and take advantage of opportunities in the market.

According to Man, Optiverians take responsibility, they work closely with a common goal to improve the market, they are open and honest and also modest. What is immediately clear, when you walk into the Amsterdam office, is that Optiver is a "down to earth" company, where you do not have to show up at work in a suit.,.

Graduates

The bulk of Optiver’s recruitment efforts take place during the graduation phase of candidates. After all, when you are looking to hire only the brightest minds, you have to start scouting as early as possible, otherwise a competitor will beat you to it. “There is indeed active recruitment on campus,” Man knows this from his own experience. “Our search for talent is quite broad, in addition to Econometricians, Physicists and Engineers also work here. It is important that you are very good with numbers. On top of that, you must have a strong drive and be competitive. ”

It surprised me that shortly after starting at Optiver I was already able to trade on the real market. That is quite unique and shows how much trust is placed in you.

Candidates are introduced to the trading floor early on, because that's where all the action takes place. First in a virtual environment, but Man still remembers how quickly he was given responsibility. “It surprised me that shortly after starting at Optiver I was already able to trade on the real market. That is quite unique and shows how much trust is placed in you.”

Newcomers

Software engineer Dovile Vitonyte, who came over from Edinburgh two years ago, also noticed immediately that she was given a lot of responsibilities at Optiver. “As a newcomer you are encouraged to get involved and start contributing ideas straight away. If your ideas make sense and can add value, you will be given the opportunity to implement them immediately.”

Vitonyte thinks that at Optiver, developers and engineers do not only consult with each other. “At larger tech companies you rarely have contact with the end user, while it is actually so important. Here I get to interact with my end-user – our traders – all day long. That makes work more fun and effective."

Innovation

Options trading is done at an extremely fast rate, so Optiver's traders, researchers and engineers have to work at a similar pace. “We have short innovation cycles,” says Man. “If you come-up with an idea in the morning and execute it, you can see the result of your work on the trading floor within a day. This means that we can immediately see whether it works.”

And there is always room for newbies. “There is no strong hierarchy here,” continues Man. “New traders can also come up with suggestions for a new tooling or strategy. Juniors often come up with good, fresh ideas. Vitonyte adds: "If you propose something, you run the project."

Insight

Introduction to Optiver happens through a wide range of events. That is now a bit more difficult due to the coronavirus, but the need for talent remains high. Popular are the virtual company presentations and the E-house Days, where students and starters get an insight into the world of trading. Direct contact with traders is considered very valuable. Optiver also collaborates with other parties for these types of events, such as universities and student associations.

The bar is high, because only one percent is accepted. Affinity with numbers is a must, and a financial background is not mandatory. 

To introduce candidates to the company, internships are organised for future traders, researchers and engineers. “All those hundreds of screens and the excitement about what is happening in the market, it is very impressive,” explains Man. “The bar is high, because only one percent is accepted. Affinity with numbers is a must, and a financial background is not mandatory.”

Cultural fit

For technical roles, we look beyond just coding skills, says Vitonyte. “We are looking for people with a passion for trading. As a technician you have to be able to communicate and work well together. There must be a cultural fit.”

Optiver’s team is young. "On average in their late twenties and early thirties," says Man. "There is an informal atmosphere in which many friendships are formed."

Man and Vitonyte are very pleased with the strong 'team vibe' at their employer. “Exchange of knowledge is very important. You learn quickly here and therefore immediately get many opportunities. When you start, you are the one asking the questions, but within six months people will come to you with questions.”

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