Volcube was founded in 2010 to reduce the cost, and improve the success rate, of training schemes for new option traders. Historically, new recruits to the option markets were trained by senior traders on an ad hoc basis and at great expense. The success rate of these schemes, measured by the proportion of new hires who went on to trade, was remarkably low.
The founders of Volcube wondered if an innovative technology could improve on this situation. A basic market simulator was prototyped and tested extensively with junior and senior traders alike to ensure realism. This simulator was then wrapped with multiple learning tools including the intelligent automated market mentoring system. Volcube released early versions to the market in late 2010/early 2011, receiving a warm welcome.
Since then, hundreds of option traders have traded on the Volcube simulator and the technology has continued to develop rapidly. Volcube is now used at some of the world’s leading proprietary trading firms and investment bank trading desks to train and challenge new recruits. Furthermore, the interest has become more widespread over time. The benefits of Volcube are being experienced by risk managers, trading software developers and operations staff. Volcube is used by firms looking to assess the potential of interns, cost-effectively.
In 2012, due to on-going demand from individuals currently outside the financial markets, Volcube announced plans for Volcube Starter Edition. Starter Edition offers many of the benefits of the professional version of Volcube to students and other individuals who are looking to increase their knowledge of options and options trading. Volcube Starter Edition became available in June, 2012.
Several upgrades to the Volcube platform were made throughout 2013, improving the realism and usefulness of the software, in response to customer feedback. Volcube also launched a successful series of ebooks; the Advanced Options Trading Guides.
In early 2014, a major update allowed for Pro users to learn option expiration trading via the Expiration Module.
Simon Gleadall, CEO
Simon was a senior options market maker, special situation derivatives trader and partner in several proprietary firms for over a decade. Having repeatedly encountered problems training junior team members in electronic trading environments, he conceived a coherent software-based solution. Simon has a particular focus on building technology that he and other market professionals would want to use. Simon is the author of The Metaphysics of Markets, an introduction to the philosophy of finance. His work on derivatives theory has been published in Derivatives Week , Derivatives Intelligence, Wall Street Technology, Investopedia and Futures and Options World.
Chen is the driving force behind the technology development at Volcube, overseeing all engineering from the click of a button on the user interface to 24/7 global service delivery. A unique combination of visionary technologist and hands-on geek has enabled him to establish an exciting career of launching technology start-ups. He is also a frequent contributor to the open source community.