Chicago Trading Company
| Type | Private company |
|---|---|
| Industry | Financial services |
| Founded | 1995 |
| Founders | Five partners formerly of O'Connor & Associates |
| Headquarters | , |
Area served | United States |
Key people | Lauren Rauch and Josh Schubkegel (co-CEOs) |
| Products | Proprietary trading, derivative trading |
| Website | www |
Chicago Trading Company (CTC) is an American proprietary trading firm headquartered in Chicago, Illinois, specializing in options market making.[1]
Founded in 1995, the firm provides liquidity across derivatives exchanges worldwide across a range of asset classes, including equities, interest rates, and commodities. CTC employs quantitative researchers, traders, and software engineers to develop systematic trading strategies and trading technology, with offices in Chicago, New York, London, Austin, and Amsterdam.[2][3][4] The firm is privately held and exclusively trades its own capital.
History
Chicago Trading Company was founded in 1995 by five partners formerly of O'Connor & Associates, initially to trade U.S. index options, particularly S&P 500 products. In 1998, CTC LLC was formally created.[5]
Throughout the 2000s, CTC expanded its product offering significantly. The firm began trading individual equity options in 1999, interest rate options on the CME and CBOT in 2002, and energy products and European indices in 2003. In 2008, CTC began trading metals and European rates products. In 2025, the firm began trading Indian equity derivatives.
Operations
Chicago Trading Company primarily operates as a proprietary market maker with no outside capital. The firm actively trades options and volatility/variance derivatives across a broad spectrum of asset classes, operating more than 20 hours a day, six days a week. As of 2026, CTC employed approximately 600 people across offices in Chicago, New York, London, Austin, and Amsterdam.
CTC trades on multiple global exchanges and venues. Primary exchanges include CME Group (CME, Board of Trade, NYMEX, and Comex), CBOE[6], ICE[7][8] (NYSE/Liffe), and Eurex[9].
Leadership
Chicago Trading Company was founded in 1995 by five partners formerly of O'Connor & Associates. Below is a list of chief executives:
| Name | Title | Period |
|---|---|---|
| Eric Chern | CEO & co-founder | December 1, 2009 – May 31, 2019 |
| Dan Feuser | CEO (first non-founder CEO) | June 1, 2019 – December 31, 2022 |
| Jonathan Grodnick | CEO | January 1, 2023 – December 31, 2025[10] |
| Lauren Rauch and Josh Schubkegel | Co-CEO | January 1, 2026 – present[11][12][13] |
See also
References
- ↑ "Chicago Trading Company hires Citi's Miller as head of ETF sales for EMEA". ETF Stream. September 17, 2024.
- ↑ "Trading firm expands at Loop office tower". Crains. July 20, 2018.
- ↑ "Ransomware gang hacks Chicago trading firm, threatens to dump data". Crains Chicago Business. November 17, 2023.
- ↑ "More US financial firms targeted by LockBit ransomware gang". SC Media. November 20, 2023.
- ↑ "Chicago Trading Company co-founder Andrew Hall lists Gold Coast condo for $14M". Chicago Tribune. March 14, 2023.
- ↑ "CTC Opening Bell". CBOE. May 5, 2026.
- ↑ "Membership". Membership. ICE.
- ↑ "Futures Exchange Membership". Futures Exchange Membership. ICE.
- ↑ "Exchange Participants". Exchange Participants. Eurex.
- ↑ "Chicago Trading Company Names New Leader". Business Wire. November 15, 2022.
- ↑ "Rising Star Q&A: Lauren Rauch, Chicago Trading Company". Markets Media. July 23, 2019.
- ↑ "CTC Names Lauren Rauch and Josh Schubkegel as Co-CEOs". Businesswire. November 20, 2025.
- ↑ "Chicago Trading Company names Lauren Rauch and Josh Schubkegel as co-CEOs". Fintech Futures. November 22, 2025.