Akuna Capital

Last updated

Akuna Capital LLC
Company type Private
Industry Financial services
Founded2011;13 years ago (2011)
FoundersAndrew Killion
Mitchell Skinner
Headquarters 333 South Wabash, Chicago, Illinois, U.S.
Key people
Andrew Killion (Chairman)
Products Proprietary trading
Algorithmic trading
High-frequency trading
Number of employees
580 (2022)
Website www.akunacapital.com
Footnotes /references
[1]

Akuna Capital is an American proprietary trading firm headquartered in Chicago. It has additional offices in London, Shanghai, and Sydney.

Contents

Background

Akuna Capital was co-founded by Andrew Killion in 2011 in Chicago. [2] [3] [4] Killion was previously a partner at Optiver and had left his hometown of Sydney in 2011 to move to Chicago. [2] [3] [4] Chicago was selected to launch Akuna Capital as it was considered the center of the world for derivatives and options. [3]

The word Akuna comes from an Australian Aboriginal word that means flowing water. [3] [4]

Akuna Capital has an affiliated broker-dealer named Akuna Securities. [5]

According to Bloomberg News, Akuna Capital had one of the highest monthly salaries for internships in the financial sector from 2021 to 2022. [6]

History

In 2015, Akuna Capital signed a deal with the state of Illinois worth $4.5 million in tax breaks. [7] Under the deal, Akuna Capital would hire ten new employees where five would be in trading and five would be in software. [7]

In 2019, Akuna Capital lost $5.4 million on cryptocurrency assets and technology startups. [8]

In January 2023, the firm cut 11% of its entire global workforce with some new hires having their contracts rescinded. [8]

In June 2023, Akuna cut 40% of its Asia-pacific workforce. [4]

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References

  1. "BrokerCheck - Find a broker, investment or financial advisor". brokercheck.finra.org.
  2. 1 2 "Derivatives trader makes $30m return to hometown". Australian Financial Review. November 8, 2020. Retrieved February 1, 2023.
  3. 1 2 3 4 "Chicago exec buys $23 million home—in Australia". Crain's Chicago Business. January 4, 2021. Retrieved February 1, 2023.
  4. 1 2 3 4 Turner-Cohen, Alex (June 29, 2023). "Australian derivatives trading firm Akuna Capital slashes 40% of APAC workforce". News.com.au.
  5. "Andrej Bolkovic Becomes New CEO at Chicago-Based OCC". Financial and Business News | Finance Magnates. June 22, 2022. Retrieved February 1, 2023.
  6. "Interns Are Making Over $16,000 a Month as Wall Street Talent Wars Heat Up". Bloomberg.com. April 14, 2022. Retrieved February 1, 2023.
  7. 1 2 "Akuna Capital signed tax break deal with state of Illinois estimated to be worth $4.5M". Illinois Policy. May 23, 2017. Retrieved February 1, 2023.
  8. 1 2 "Australian trading company Akuna Capital slashes 11 per cent of workforce". news.com.au. January 20, 2023.