RSJ Securities – Trading

We specialise in algorithmic trading, with market making at the core of our business.

RSJ Securities specialises in algorithmic trading, where both decision-making and trade execution are automated. Our core business is market making, the continuous provision of liquidity to financial markets.

As a market maker, we act as an intermediary, enabling other market participants to trade without having to search for a counterparty. Investors know they can buy or sell whenever they need to, with confidence in reliable pricing. This increases market liquidity, simplifies trading, strengthens trust in the market, and encourages further trading activity.

We operate in the world’s leading financial centres, including New York, Chicago, London, Frankfurt, and Tokyo. We focus primarily on futures contracts, which help market participants manage exposure to future price movements. We also trade U.S. government bonds in the spot market. 

RSJ Securities operates throughout the trading week. From Prague, we support markets around the globe, covering trading hours across multiple time zones.

Algorithmic trading

Algorithmic trading means that trade execution is carried out by computer programs. Based on predefined rules, these programs evaluate market conditions and trade automatically. The goal is to achieve the best possible price and respond efficiently to market changes. Depending on the level of human involvement, there are two main approaches:

Algorithmic execution

Algorithmic execution

Algorithmic execution is used when a trader decides what to buy or sell, while an algorithm takes care of the technical execution. The algorithm breaks large orders into smaller parts and manages price and timing to ensure the trade is executed as efficiently as possible.

Market maker

A market maker is an intermediary that enables investors to trade without having to search for a counterparty. This makes it possible to buy or sell at any time with confidence in reliable pricing

Co-location

Co-location means placing servers directly in exchange data centres. This significantly reduces data transmission time between the exchange and the trading system and increases the reliability and security of the connection.

Liquidity

Liquidity describes how easily an asset can be bought or sold without significantly affecting its price. Higher liquidity means trading is easier and cheaper for all market participants.

Algorithmic decision-making

Algorithmic decision making

Algorithmic decision-making is a more advanced approach in which the algorithm assesses market conditions and decides what to trade, when, and how – without direct human instruction. Decision-making and execution are fully automated and follow a predefined strategy. 

Futures

Futures are an agreement to buy or sell a financial instrument or commodity at a predetermined price on a future date. They are used to manage risks such as changes in exchange rates, interest rates, or equity prices.

Spread

The spread is the difference between the buy and sell price of a financial instrument. For traders, it represents a transaction cost; for market makers, it is one of the sources of profit.

Our people

At RSJ Securities, a team of around 60 people ensures the smooth operation of our algorithmic trading. Analysts, developers, and traders work closely together to build and run trading algorithms that constantly adapt to fast-moving markets.

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Analysts

Analysts design the mathematical models and algorithms powering our trading systems. They translate trading intuition and market observations into quantitative form, test hypotheses using financial market data, and apply advanced statistical and computational methods. Once validated, their solutions are given to developers for implementation.

Developers

Developers work closely with analysts and mathematicians who design and refine models that predict how to trade effectively. Developers turn these models into robust code. They tackle complex mathematical problems, process vast volumes of data, and build high-performance systems. Flexibility, creativity, and deep technical expertise are essential.

Traders

Traders oversee live trading 23 hours a day, from Monday to Friday. They monitor and refine algorithmic strategies, assessing macroeconomic conditions and market fundamentals, adjusting risk parameters, exploring new opportunities, and providing ongoing feedback to analysts and developers.

Competing every day with the world’s best market participants requires constant reassessment and the ability to adapt quickly to the changing environment.

Where we operate

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London

  • Our longest-standing presence is in London, where we operate on ICE Futures Europe, one of Europe's leading derivatives exchanges.
  • We executed our first algorithmic trade here in 2002 and achieved designated market maker status in 2005.

Chicago

  • In Chicago, we have traded since 2007 on CME Group exchanges, including CME, NYMEX, and the Chicago Board of Trade (CBOT).
  • We focus primarily on futures linked to interest rates, bonds, equity indices, and commodities.

Frankfurt am Main

  • In 2009, we became the very first Czech company to join Eurex, Germany’s leading derivatives exchange and part of Deutsche Börse.
  • RSJ Securities CEO, Bronislav Kandrík, has been a member of the Eurex Exchange Council since 2013.

New York

  • In New York, often referred to as the financial capital of the world, we operate on Tradeweb Markets Inc., 
  • Using its Dealerweb CLOB platform, we trade U.S. government bonds (US Treasuries) on the spot market.

Tokyo

  • We have been active on Osaka Exchange (OSE), part of the Japan Exchange Group, since 2023.
  • OSE is the largest derivatives exchange in Japan.