Jump Trading history

Jump Trading was founded in 1999 by two former pit traders, Paul Gurinas and Bill Disomma, who met in the Deutsche Mark pit at the Chicago Mercantile Exchange (CME). While the firm got its start in the open outcry pits, Jump Trading does most of its trading electronically.

Following the 2010 flash crash, Disomma, Gurinas, and COO Matt Schrecengost met with CFTC chairman Gary Gensler to discuss the definition of spoofing as a disruptive trade practice as well as transparency and access to SEFs.

Gurinas and DiSomma also founded a venture capital firm, Jump Capital, in June 2012.

The company has made substantial investments in high-frequency trading and infrastructure, including a Belgian microwave tower once owned by NATO, purchased in 2013 by a U.K. affiliate.

In April 2014, Jump was one of six high-speed trading firms subpoenaed by New York Attorney General Eric Schneiderman regarding their trading strategies, as well as the special arrangements they may have with exchanges and dark pools.

By January 2016, the firm had invested in 30 companies.

In May 2018, Jump was fined $250,000 by the Securities and Exchange Commission (SEC) due to a malfunction in one of its trading algorithms leading to the accidental accumulation of a short position worth hundreds of millions of dollars.

Jump Capital also invested $5 million in The Small Exchange in May 2019, a start-up retail trading futures exchange.