IMC Trading Used an Esports Partnership to Recruit Traders
IMC Trading Used an Esports Partnership to Recruit Traders
MC Financial Markets, sometimes referred to as IMC Trading, is a proprietary trading firm. It is a market maker for numerous financial instruments listed on exchanges around the world.
There are many questions about IMC Trading, such as, “Why IMC Trading?” So, let’s get started.
The company was founded in 1989 and is headquartered in Amsterdam, the Netherlands, with offices in other major financial centres around the world, including Chicago, New York, Sydney, and Hong Kong.
Why IMC Trading?
IMC is a leading global market maker. It uses advanced technology and algorithms to execute trades across a wide range of financial instruments, including equities, options, futures, and commodities. The firm operates in various financial markets, providing liquidity and facilitating trading for its clients, which can include institutional investors, other trading firms, and exchanges.
What’s interesting is that many traders like to play video games. Why? Let’s find out.
In 2021, the Global Head of Marketing and Communication at IMC Trading found himself pondering the outcomes of the company’s employee survey. Remarkably, more than 90% of the newly hired personnel indicated that gaming was among their personal interests or hobbies.
Steven Biester came up with an interesting idea. IMC Trading made the decision to partner with Team Liquid.
Team Liquid is a multi-regional professional esports organization based in the Netherlands.
However, the objective of the agreement wasn’t to convert IMC employees into esports enthusiasts, nor was it an attempt to leverage the firm’s presence in the space for more authentic marketing to their coveted target audience with disposable incomes.
IMC’s Biester and the team recognized a broader potential within this audience: their valuable skills and competencies that sustain their careers. While not everyone within this group may pursue a career as a professional gamer, some may choose paths such as programming. IMC’s aspiration is to encourage more individuals to consider careers as market makers.
Key points about IMC Trading:
IMC Trading is a prominent market maker in various global exchanges. Market makers play a crucial role in ensuring liquidity in financial markets by continuously quoting buy and sell prices for various securities, narrowing bid-ask spreads, and facilitating smooth trading.
High-frequency trading (HFT): IMC is known for its expertise in HFT, which involves executing a large number of trades at very high speeds, often taking advantage of small price discrepancies that exist for very short periods of time. This requires sophisticated trading algorithms and infrastructure.
Technology focus: Technology is at the core of IMC’s operations. The company invests heavily in research and development to create and maintain cutting-edge trading systems and algorithms.
Global presence: IMC Trading operates in major financial markets around the world, allowing it to take advantage of arbitrage opportunities and market movements across different regions and asset classes.
Risk management: Like all trading firms, IMC Trading places a strong emphasis on risk management to mitigate potential losses and ensure the stability of its operations.
What makes video games appealing to traders?
Many traders have a fondness for gaming, and there are several reasons why these two interests often overlap:
Risk and reward: Both trading and gaming involve an element of risk and reward. In trading, individuals risk their capital with the hope of earning a profit, while in gaming, players take risks within the game to achieve in-game rewards or success.
Analytical skills: Both traders and gamers often need strong analytical skills. Traders analyze financial data, market trends, and news to make informed decisions, while gamers strategize, plan, and analyze game mechanics to achieve success within the game. The ability to think critically and make calculated decisions is crucial in both activities.
Competition: Both trading and gaming can be highly competitive endeavors. Traders compete with other market participants to profit from price movements, and gamers often compete against other players or aim to achieve high scores. The desire to outperform others and prove one’s skills can be a motivating factor in both worlds.
Technology: Trading and gaming heavily rely on technology. Traders use sophisticated trading platforms and algorithms, while gamers use gaming consoles, PCs, and other devices. The affinity for technology and the enjoyment of using cutting-edge tools can be a shared interest.
Entertainment value: Trading and gaming can be entertaining and engaging. While trading involves real financial stakes, it can still be exciting to follow market developments and make decisions.
Social interaction
Online trading and multiplayer gaming often provide opportunities for social interaction. Traders can discuss strategies and market insights with fellow traders, while gamers can team up with or compete against friends and strangers online. Both activities can foster a sense of community and camaraderie.
To sum up, video games can aid in recruiting traders by identifying and cultivating key skills such as quick decision-making, risk assessment, and strategic thinking. They can also serve as innovative assessment tools, allowing companies to evaluate a candidate’s performance in simulated trading environments and complex problem-solving scenarios.
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