Akuna Capital: Chicago-based options market maker trading only proprietary capital, providing liquidity in derivatives, futures and crypto since 2011.
All Options: AFM-regulated, employee-owned options market maker in Amsterdam, quoting five European exchanges and expanding into US options from Austin.
B2C2: London-based institutional crypto market maker running a 24/7 OTC dealing desk in spot, derivatives and secured funding, majority owned by Japan's SBI Holdings.
Belvedere Trading: Chicago prop firm market-making listed options and futures; lead market maker for Cboe's S&P 500 Equal Weight Index options since 2025.
Chicago Trading Company (CTC): Chicago-founded proprietary trading firm making markets in options and other derivatives across US and European exchanges.
Citadel Securities: Market maker majority-owned by Ken Griffin; executes over 20% of US equity trades and is the largest US options market maker.
Consolidated Trading: Chicago options and derivatives market maker, an SEC-registered broker-dealer since 2002 trading equity, index, ETF and commodity products.
Da Vinci Trading: Amsterdam proprietary trading firm using own capital for market making and volatility arbitrage in options, equities, futures and crypto.
DRW Holdings: Chicago proprietary trading firm founded in 1992, market-making across futures, fixed income and crypto through its Cumberland unit.
DV Trading: Chicago proprietary trading firm and market maker in futures, options, energy, fixed income and equities across global exchanges.
Flow Traders: Amsterdam-based principal trading firm quoting continuous two-sided prices in exchange-traded products since 2004.
GSR: Digital-asset market maker and liquidity provider founded in 2013, expanding into a US broker-dealer and a Nasdaq-listed crypto ETF.
GTS (Global Trading Systems): Electronic market maker and NYSE Designated Market Maker for over 1,100 listed companies, spanning equities, ETFs, options and FX.
Kershner Trading Group: Austin, Texas proprietary trading firm founded in 2001 that funds manual and algorithmic U.S. equities traders on its Gr8trade platform.
Mako: Options and derivatives market maker formed from a 1999 buyout of LIFFE floor-trading firm Saratoga, regulated by the FCA and AFM.
Old Mission Capital: Chicago market maker founded in 2008 on illiquid-ETF pricing, now trading equities, bonds, currencies and derivatives worldwide.
PEAK6 Investments: Chicago-founded, Austin-based options market maker and diversified investment firm behind Apex Fintech Solutions and Bruce ATS.
Quantlab Financial: Houston-based proprietary trading firm founded in 1998 that trades only its own capital using algorithmic, high-frequency strategies.
Radix Trading: Chicago proprietary trading firm using statistical research and machine learning to trade electronic markets across three continents.
Simplex Trading: Chicago proprietary trading firm that market-makes US equity and futures options across 17 exchanges on in-house technology.
Susquehanna International Group (SIG): Privately held quant trading firm and options market maker since 1987, now running a dedicated Kalshi event-contracts trading desk.
Tower Research Capital: Quantitative proprietary trading firm running systematic strategies across equities, futures, options and FX on 150+ global venues.
Two Sigma Securities: Two Sigma's SEC-registered broker-dealer, market-making over 8,000 US equities plus listed options via low-latency, data-driven systems.
Vatic Labs: New York quantitative trading firm applying AI-driven market-making and statistical arbitrage across equities, futures and options.
Virtu Financial: Nasdaq-listed market maker and agency execution provider quoting 25,000-plus securities across 235-plus venues in 36 countries.
Wintermute: London crypto market maker quoting two-sided prices across 70+ exchanges, now also pricing tokenized gold, oil CFDs and prediction markets.
Wolverine Trading: Chicago market maker founded in 1994, quoting options and equities across every US exchange plus a $10bn+ alternative asset management arm.
XTX Markets: London-founded electronic liquidity provider using machine learning to price and trade over $250 billion a day across 35 countries.
