FT.com: Trader blows €100m hole in Nasdaq’s Nordic power market - futures io
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FT.com: Trader blows €100m hole in Nasdaq’s Nordic power market


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FT.com: Trader blows €100m hole in Nasdaq’s Nordic power market

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  #1 (permalink)
Heidelberg, Germany
 
 
Posts: 23 since Aug 2016
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"Einar Aas, a private trader who has been among Norway’s highest earners in recent years due to aggressive bets in European power markets, saw his positions collapse on Monday after extreme market moves in German and Nordic energy markets."

Hi, does anybody have details on the type of contracts this guy was trading?

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  #3 (permalink)
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He was trading a German / Nordic power spread that got away from him.

https://www.bloomberg.com/news/articles/2018-09-15/phantom-trader-who-blew-a-hole-in-world-s-oldest-power-market

https://business.nasdaq.com/trade/commodities/products/power-derivatives/nordic.html

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  #4 (permalink)
Chicago, IL
 
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Yep; no crime - just blew out his firm's/personal coin.

NO ONE is BIGGER than the market. Market spreads/illiquidity can & will expand & you will rue the day you thought 'size' mattered.

I enjoy reading stories of 'big dick' traders fucking it all up! You gotta' stay humble if a 200 lot ES trader or 10 million FX trader or a massive option market-maker or even a chill 5 contract CL trader.

The rules don't change even if you think you are the market - guess what? You are not.

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  #5 (permalink)
Legendary no drama Llama
Reading UK
 
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researcher247 View Post
Yep; no crime - just blew out his firm's/personal coin.

NO ONE is BIGGER than the market. Market spreads/illiquidity can & will expand & you will rue the day you thought 'size' mattered.

I enjoy reading stories of 'big dick' traders fucking it all up! You gotta' stay humble if a 200 lot ES trader or 10 million FX trader or a massive option market-maker or even a chill 5 contract CL trader.

The rules don't change even if you think you are the market - guess what? You are not.

Funny part is that he was bigger than the market but got eaten anyways. His position size on that one trade was larger than the available liquidity.

I guess that's the great equaliser when it comes to size. One would think that because a trader has financial clout they can push price around, which they can, but once scaled into a position, they are at the full mercy of the market just like everyone else.

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  #6 (permalink)
Heidelberg, Germany
 
 
Posts: 23 since Aug 2016
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yep, I was just wondering if anybody knows about actual contracts, I had a brief look at this market and there's quite a few of them.

I never traded energy(electricity) before, but keep on hearing that opportunity is out there.

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  #7 (permalink)
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Nice, great find. Thanks for the reading material @TheShrike.

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