TransMarket Group


is a privately held quantitative proprietary trading firm based in Chicago.

Description

TMG was founded in 1980 by Ray Cahnman, a former floor trader, and has roughly 150 employees including interns. The firm's primary business is as an electronic market maker in a diverse group of assets including commodities, government debt, currencies, and interest rates.
TMG has been a major player in the markets since its founding and pioneered bond futures basis arbitrage at the inception of the Chicago Board of Trade Treasury futures contracts.

History

1980-Current

Ray Cahnman, Founder, Chairman
Ray Cahnman began his trading career at the Chicago Board of Trade in October 1975. He became the first independent trader to trade financial products at Shatkin Trading Company, which led to a partnership to arbitrage US Treasury cash/futures. In 1980, he established Aardvark Financial, a CBOT clearing firm. Aardvark Financial became a clearing member of the Chicago Mercantile Exchange in 1981. The firm was renamed TransMarket Group in 1984. He qualified as an independent floor trader on London International Financial Futures Exchange and Sydney Futures Exchange in 1989. From 1999-2002 Mr. Cahnman was a Director of the Chicago Board of Trade. Mr. Cahnman has trained many highly successful traders over his career. Ray continues to actively trade and manages the firm’s US interest rates strategy. Mr. Cahnman holds a Bachelor of Science degree in Mathematics from DePaul University and a Master of Business Administration degree from Tulane University.