SwiftTrade was founded in 1997 by Peter Beck, Charles Kim, and Joseph Ianni. Headquartered in Toronto, Ontario, Swift Trade is the first and the largest Direct Access Electronic Trading Centre in Canada with Offices across Canada, Europe, and Asia. The firm's Proprietary Traders actively trade the NASDAQ, NYSE and AMEX markets, executing tens of thousands of transactions representing upwards of 100 Million shares daily. Today, SwiftTrade is expanding rapidly, and will have 38 Offices open by the end of 2004.
The staggering success of the company (realizing almost a 4000 percent profit increase in its first two years) saw rapid growth through 2000, when the firm's trading floors were filled to capacity with retail day traders, who put up $US25,000 each for the right to sit at Swift Trade's computer terminals and access the NASDAQ market through in-house software, often for big profits.
However, when regulatory changes decimalized the stock market (decreased the spread between the bid and ask prices on individual stocks), in April 2001, day trading was dealt a death blow. Clients left in droves, no longer able to make even a fraction of the profits they once had. Today, only the hardiest and shrewdest day traders survive.
Yet the entrepreneurial spirit that spawned Swift Trade in the first place would not roll over. Headed up by Peter Beck, the company literally turned on a dime, and began building on Proprietary Trading, where people are employed to trade on single corporate account, reducing individual account costs. With a combination of strict risk management, and shrewd research and development, Swift Trade not only survived, but is expanding rapidly, repopulating its business with proprietary traders.
With 28 trading floors open today, and a further 22 to open in 2004-05 across the globe, the future is very bright indeed for this savvy and adaptable company.
Uptick Securities (Powered by Swift Trade) does not currently have any available jobs.