Maven Securities Limited
TypePrivately held company
IndustryFinancial services
FoundedFebruary 2011 (2011-02)
Founders
  • Ben Huda
  • Ivan Koedjikov
  • Ian Toon
Headquarters
London
,
United Kingdom
ProductsProprietary trading
High-frequency trading
Investment management
Number of employees
400 (2023)
Websitewww.mavensecurities.com

Maven Securities (Maven) is a proprietary trading firm headquartered in London that makes use of high-frequency trading strategies. The firm has additional offices in Asia, Europe and the United States.

Background

In February 2011, Maven was founded in London by three traders, Ben Huda, Ivan Koedjikov and Ian Toon. Huda had previously worked at Tibra Capital while Koedjikov and Toon had worked at Optiver. The firm's name comes from the term, Maven which means expert in a particular field.[1][2][3][4]

In September 2011, Maven started trading and also became a member of the London Stock Exchange. By November that year, Maven had accounted for 40% of European trading volumes according to consulting firm Aite Group. For the period from 1 February 2011, to 30 June 2012, Maven posted a revenue of £4.5 million and a net profit of £2.2 million which were generated by a workforce of four employees. Its performance mirrored those of other European high-frequency trading firms during 2011 which was affected by extreme volatility during the European debt crisis.[1][2]

In February 2014, Maven reported that for the year ended 30 June 2013, Maven posted a revenue of £18.9 million and pre-tax profits of £7.8 million which were generated by a workforce of 19 employees. It also stated that it planned to spin-out a number of strategies into a hedge fund.[3]

In October 2014, Maven received its proprietary trading licence from the Financial Conduct Authority and as a result was not able to hold client money. This came at a time where other high-frequency trading firms were also getting licensed. Regulators were concerned that there was a lack of regulatory oversight on such firms given the amount of trading performed by them. According to the European Securities and Markets Authority in September that year, high-frequency trading firms accounted for 22% of value traded on major European exchanges.[4]

On 26 June 2015, Maven launched its hedge fund unit, MVN Asset Management. According to filings from Companies House, the entity was dissolved on 8 June 2022.[5][6]

Aside from its primary activities in trading and market making, Maven also performs investment management services under its entity, Maven Investment Partners.[7]

References

  1. 1 2 Cave, Tim (1 November 2011). "Ex-Optiver traders launch HFT boutique". Financial News.
  2. 1 2 Cave, Tim (16 November 2012). "HFT start-up enjoys strong maiden year". Financial News.
  3. 1 2 Cave, Tim (12 February 2014). "Fledgling HFT eyes hedge fund spin-out". Financial News.
  4. 1 2 Cave, Tim (24 October 2014). "HFT outfit receives FCA approval". Financial News.
  5. ↑ Nicson (29 September 2019). "An Introduction To The HFT Industry And Its Key Players". Planet Compliance. Retrieved 15 November 2023.
  6. ↑ "MVN ASSET MANAGEMENT LIMITED overview – Find and update company information – GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 15 November 2023.
  7. ↑ Tudor-Ackroyd, Alison (26 June 2017). "Ex-UBS ECM head moves to buy side". FinanceAsia. Retrieved 15 November 2023.
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