Maverick Trading Announces 2013 Spring Traders Summit at CBOE and CBOT

SALT LAKE CITY, April 16, 2013 /PRNewswire/ -- Maverick Trading, the premier proprietary trading firm headquartered in Salt Lake City, Utah, today publicly announced its 2013 Spring Traders Summit would be held at the Chicago Board Options Exchange and the Chicago Board of Trade April 19 and 20, 2013.  In conjunction with the firm's social activities, management and support personnel will be conducting a series of seminars and small group workshops for the firm's traders.

The mood of Maverick's traders leading up to the Summit has been celebratory in both the Options/Equities Division and FX Division.  Portfolio gains in both divisions have handily outpaced the broad market during the first quarter of 2013.  When pressed about the extent of Maverick Trading's performance, COO Jon Frohlich commented, "Some of the firm's traders hit their 2013 goals by the end of Q1 and are talking about staying in cash the rest of the year.  We are extremely pleased with the way Maverick's traders have capitalized on the market action in Q1 and managed their risk during the market's consolidation."

Maverick Trading also reported that the firm's expansion program has exceeded targets in both number of traders brought on board the firm and in the performance of the new traders.  CEO Robb Reinhold spoke of the firm's expansion, "We had so many excellent candidates apply to the firm that there were several traders who applied in Q1 that we had to put on a waitlist until Q2.  When we made the decision to expand the number of traders at the firm, we committed to conducting the expansion methodically.  We ensure that each of our traders is trained to manage risk and be consistently profitable before they trade the firm's capital.  That's one of the reasons that the firm's turnover is microscopic."

Maverick's management confirmed that the firm currently has the capital to double the number of traders at the firm, which currently exceeds 200.  Frohlich commented, "The firm's business model is really self-fulfilling.  We bring on good people, teach them to trade consistently, give them capital to trade, they make money for themselves and the firm, and the firm has more capital to bring on more good people."

Maverick Trading personnel also commented on some subtle shifts they were seeing in the trading industry.  The firm's recruiting team saw a spike in applications from traders leaving other proprietary trading firms and also from floor traders and market makers seeking to transition into directional trading for their own accounts.  Reinhold expanded on the sentiment, "For example, we're seeing people leave the commodities side of the business in a steady stream.  They've frankly told us that margins have gotten so thin that they have to drastically increase their position size and their risk to make the same money they did just a few years ago.  Eventually, the stress gets to them and they start looking for ways to decrease their risk, decrease their stress, and increase their returns.  That's when they find Maverick Trading."

Surprisingly, Maverick Trading's recruiting guidelines stress a willingness to learn and fitting in with the firm's culture over previous trading experience.  Frohlich expanded, "All of the firm's traders are remote, so we need to have people who are self-starters.  Even though our traders are remote, we operate in a collegial, collaborative and supportive environment.  The people we bring on board need to embrace that atmosphere and be willing to take advantage of it.  We can teach someone to trade; we do it all the time.  What we want to avoid is someone coming to the firm with a lone wolf attitude and then trading in a vacuum.  We get our best results when traders use the resources the firm offers.  That kind of support makes the traders more profitable and makes the firm more profitable as well."

Additional information on Maverick Trading and proprietary trading can be found at www.mavericktrading.com.

To apply to become a trader with Maverick Trading, visit www.mavericktrading.com/apply.php

Additional information on Maverick Trading's FX Division can be found at www.maverickfx.com

To apply to become a trader with Maverick's FX Division, visit www.maverickfx.com/apply

SOURCE Maverick Trading