International firm blows up
CNBC says Ronin Capital, a prop firm headquartered in Chicago with offices in New York, London, and Hong Kong, is offside with the CME.
They say the losses related to VIX positions. Their website says this:
Ronin Capital is a global, multi-strategy proprietary trading firm. We focus on providing our traders a level of independence they desire, while inviting them to play a collaborative role in the creation and growth of profitable trading strategies.
Shame. Looks like they had a nice office.
It was founded in 2001. I can't find anything that advertises how much it had under management but judging by those offices, it was a decent amount.
