Company Overview of Wolverine Trading, LLC
Wolverine Trading, LLC, a diversified financial company, specializes in proprietary trading, asset management, order execution services, and technology solutions. It provides bid and offer quotations on various listed securities and derivatives, which include equities and equity options; equity indexes and equity index options; futures and options on futures; exchange traded funds (ETFs) and ETF options; and cash bonds. The company’s asset management services include investment advisory services and managing private investment funds for qualified investors in the areas of equity, credit, commodity, and volatility asset classes. Its order execution services enable clients to trade equities, o...
175 West Jackson Boulevard
Chicago, IL 60604
Founded in 1994
Key Executives for Wolverine Trading, LLC
Compensation as of Fiscal Year 2016.
Wolverine Trading, LLC Key Developments
Wolverine Asset Management Settles with Securities and Exchange Commission Over TVIX Info Sharing
Oct 9 15
Wolverine Asset Management agreed to pay $1 million to settle the charges filed by the Securities and Exchange Commission. According to the securities regulator, each of the firms agreed to pay penalties of $375,000, disgorgement of $364,145.80 and prejudgment interest of $39,158.47. SEC allegations against Wolverine affiliates Based on the SEC's order instituting administrative proceedings, Wolverine Trading, and Wolverine Asset Management failed to maintain and enforce policies and procedures to prevent the misuse of nonpublic information. The Commission found that both firms violated their policies and procedures by sharing information repeatedly in February to March 2012. Wolverine Trading and Wolverine Asset Management shared their trading positions and strategies for the TVIX, an exchange-traded note that traded at a premium to its indicative value after new issuances of the note were suspended temporarily. According to the SEC, the firms' traders met and discussed issues regarding TVIX despite information barriers between the affiliates. Additionally, they discussed details surrounding the potential re-openings of the new issuances of TVIX. On March 22, 2012, the price of TVIX noted declined prior to the issuer's announcement regarding the reopening of issuances of the note, as ValueWalk reported at the time. The Commission noted that Wolverine Asset Management made profits that it should not have received from that market opportunity. The SEC emphasized that the policies and procedures of the broker-dealer and investment adviser have deficiencies including vague provisions, inadequate guidance, and monitoring or surveillance of potential sharing of information. Wolverine Trading and Wolverine Asset Management agreed to cease and desist from committing or causing any similar violations in the future and to be censured without admitting or denying the findings of the Commission.
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