Akuna Capital
{{Short description|Proprietary trading firm}}
{{Use mdy dates|date=December 2023}}
{{Infobox company
| name = Akuna Capital LLC
| logo = Akuna Capital.png
| image = Chicago (ILL) Downtown, S Wabash Ave, " CNA Center " 1972. (4825718231).jpg
| image_caption = Headquarters at 333 South Wabash
| image_size =
| trading_name =
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| type = Private
| traded_as =
| industry = Financial services
| products = Proprietary trading
Algorithmic trading
High-frequency trading
| foundation = {{Start date and age|2011|}}
| founders = Andrew Killion
Mitchell Skinner
| location = 333 South Wabash, Chicago, Illinois, U.S.
| num_locations =
| key_people = Andrew Killion (Chairman)
| revenue =
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| num_employees = 580 (2022)
| parent =
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| homepage = {{URL|www.akunacapital.com}}
}}
Akuna Capital is an American proprietary trading firm headquartered in Chicago. It has additional offices in London, Shanghai, and Sydney.
Background
Akuna Capital was co-founded by Andrew Killion in 2011 in Chicago.{{Cite web |date=November 8, 2020 |title=Derivatives trader makes $30m return to hometown |url=https://www.afr.com/property/residential/derivatives-trader-makes-30m-return-to-hometown-20201109-p56cp4 |access-date=February 1, 2023 |website=Australian Financial Review |language=en}}{{Cite web |date=January 4, 2021 |title=Chicago exec buys $23 million home—in Australia |url=https://www.chicagobusiness.com/residential-real-estate/chicago-exec-buys-23-million-home-australia |access-date=February 1, 2023 |website=Crain's Chicago Business |language=en-US}}{{Cite web |last=Turner-Cohen |first=Alex |date=June 29, 2023 |title=Australian derivatives trading firm Akuna Capital slashes 40% of APAC workforce |url=https://www.news.com.au/finance/work/at-work/australian-derivatives-trading-firm-akuna-capital-slashes-40-of-apac-workforce/news-story/255f0591bdabbc046695a2558eef2f64 |website=News.com.au}} Killion was previously a partner at Optiver and had left his hometown of Sydney in 2011 to move to Chicago. Chicago was selected to launch Akuna Capital as it was considered the center of the world for derivatives and options.
The word Akuna comes from an Australian Aboriginal word that means flowing water.
Akuna Capital has an affiliated broker-dealer named Akuna Securities.{{Cite web |title=Andrej Bolkovic Becomes New CEO at Chicago-Based OCC |url=https://www.financemagnates.com/executives/moves/andrej-bolkovic-becomes-new-ceo-at-chicago-based-occ/ |access-date=February 1, 2023 |website=Financial and Business News {{!}} Finance Magnates |date=June 22, 2022 |language=en}}
According to Bloomberg News, Akuna Capital had one of the highest monthly salaries for internships in the financial sector from 2021 to 2022.{{Cite news |date=April 14, 2022 |title=Interns Are Making Over $16,000 a Month as Wall Street Talent Wars Heat Up |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2022-04-14/how-much-are-wall-street-interns-paid-some-make-over-16-000-a-month |access-date=February 1, 2023}}
History
In 2015, Akuna Capital signed a deal with the state of Illinois worth $4.5 million in tax breaks.{{Cite web |date=May 23, 2017 |title=Akuna Capital signed tax break deal with state of Illinois estimated to be worth $4.5M |url=https://www.illinoispolicy.org/akuna-capital-received-4-5m-tax-credit-for-10-jobs/ |access-date=February 1, 2023 |website=Illinois Policy}} Under the deal, Akuna Capital would hire ten new employees where five would be in trading and five would be in software.
In 2019, Akuna Capital lost $5.4 million on cryptocurrency assets and technology startups.{{Cite web |date=January 20, 2023 |title=Australian trading company Akuna Capital slashes 11 per cent of workforce |url=https://www.news.com.au/finance/business/other-industries/australian-trading-company-akuna-capital-slashes-11-per-cent-of-workforce/news-story/8db01a682cb114ee7a029b41134699ca |website=news.com.au}}
In January 2023, the firm cut 11% of its entire global workforce with some new hires having their contracts rescinded.
References
{{Reflist}}
External links
- {{Official website| https://www.akunacapital.com}}
{{authority control}}
Category:2011 establishments in Illinois
Category:Financial derivative trading companies
Category:Financial services companies established in 2011
Category:Privately held companies based in Illinois