Select Vantage Inc (SVI) was founded to improve the efficiency of global markets by matching technology with human insight.
Built on a foundation of technology and business experience going back over 20 years, SVI currently has offices in 5 countries, with traders operating in 75 countries. This gives its trader base a global scope and perspective which is unrivalled in the industry.
SVI has a unique (select) vantage on the markets, one that is bred from its focus on matching high-capacity technology with human insight, which sets it apart from other firms and has allowed it to continue growing regardless of cyclical and regulation induced market changes.
SVI is proud of the value it adds to global markets in its role as a high-capacity, high-quality market intermediary.
Market Making / Intermediation
Markets exist to intermediate between buyers and sellers who might not otherwise naturally come together, this has been true of all markets throughout history.
Farmers markets are an excellent example of how this intermediation works in practice. These markets existed to establish a place and time where buyers and sellers could meet, improving the chances of transactions occurring at reasonable prices.
Bringing product to market could be time consuming and expensive for the individual farmers.
This led to the creation of a new type of market participant - the market intermediary or market maker. At the farmers market this was the wholesaler who would go around to the individual farmers to buy their product in bulk, then bring that product to market and charge a slightly higher price to cover his risk, costs and generate a profit.
One of the key risks taken on by a market intermediary/market maker is associated with bridging the time gap between transactions. The market intermediary takes on the risk that during the time he/she holds the position, the price will move against him, resulting in a loss.
Although today’s marketplaces are fully electronic and the time-frames are much shorter, there is still a need for high-quality market intermediaries to efficiently match buyers and sellers who would not otherwise naturally come together.
As a result of its focus on human insight, SVI is not engaged in the race-to- the-bottom in terms of latency which many high frequency trading (HFT)/Algorithmic firms are. In fact, SVI will sacrifice latency in order to improve controls and checks that ensure the quality of its flow.
This all leads to the liquidity SVI adds to the markets being of very high quality. This is demonstrated through low order-to- cancel ratios, long average order durations and an ability to act as intermediary on securities which are outside the scope of many HFT/Algorithmic firms - namely micro-cap / low-liquidity names.
1. Avg Participation % represents the average percentage of traded volume represented by SVI trades.
|Passive Fill %||77.45||62.88||52.42|
|Avg Participation %1||0.82||2.14||3.66|
|Avg Order Size (shares)||26,846||4,855||2,542|
|Avg Trade Size (shares)||12,703||2,209||910|
|Avg Cancel Duration (seconds)||14751.84||2295.72||2091,69|
|Avg Execution Duration (seconds)||2335.68||584.28||544.54|
Where many firms - commonly classified as HFT, Algorithmic or Quant firms - have as their inputs pre-defined, highly automated strategies which minimize human involvement, SVI takes a dramatically different approach.
SVI’s business model is predicated on the value of human insight and adaptability.
Where an algorithm must be reprogrammed to handle novel situations, or must see repeated iterations of such a situation in a machine-learning environment, the human mind is by its very nature adaptive. This allows human traders to respond in a far more dynamic way to abnormal market events.
SVI matches this human insight with leading-edge trading, risk and surveillance technology.
This synergy allows its human traders to access global markets, identify inefficiencies and generate consistent profits while acting as high-capacity and high-quality market intermediaries.
By automating management of financial and compliance risks, SVI’s platforms allow its human traders to focus on identifying inefficiencies and opportunities.
SVI does not dictate the strategies utilized by its traders, rather it provides them with access to multiple markets and asset classes in both simulated and live environments so that they can develop their own unique strategies.
This focus on dynamism and innovation ensures that SVI's trading is diversified not by sector or industry as is the case for many funds, but rather by leveraging the law of large numbers as applied to its trader base.
This method of diversification has allowed SVI to thrive regardless of the prevailing market conditions. It has also ensured that the short term impact of major market structure changes are
SVI utilizes a sophisticated proprietary infrastructure located in key data centers globally. This infrastructure, combined with top-tier broker partnerships, ensure that SVI’s traders have the best access possible to the fragmented market structures which currently exist.
This infrastructure is designed exclusively for SVI, and SVI traders must access markets using this platform.
The trading platform utilized by SVI traders and operations personnel provides unparalleled insight and control over trade flow. It was developed with our traders in mind and continues to undergo an iterative development process based on feedback from users.
The platform is highly customizable and provides order-entry and position management across multiple markets and asset-classes within the same view. Currently supporting equities, futures and forex.
SVI has implemented sophisticated risk controls which will automatically intervene where traders exceed pre-defined risk limits in real-time. These risk limits are dynamically adjusted based on trader performance, rewarding those who perform, and reducing risk for those who do not. SVI’s systems also allow for granular control over not just risk, but also market access at the global and individual trader levels.
A proprietary system has also been developed to systematically prevent unintentional crosses between SVI's traders on the market, thereby further improving the quality of SVI's contributions to the market.
SVI is cognisant of the importance of ensuring its trade activity adheres to all applicable rules and regulations. It has invested heavily in the development of a leading-edge real-time trade monitoring platform which monitors all of SVI’s trade activity, across all markets and asset classes.
This system generates alerts in real-time which are reviewed by SVI’s trade monitoring & risk team members, who can act quickly should any abnormal patterns present themselves. This combination of technology and human insight - here applied to risk management - ensures the high quality of SVI’s market participation.
SVI has a team of 30+ operations personnel supporting its global trader base of 2000+ individuals. All team members are focused on ensuring that SVI engages with its partners and capital markets in a manner consistent with its role as a high-capacity, high-quality market intermediary.
Daniel Schlaepfer is the President of Select Vantage Inc (SVI), and its affiliates True North Vantage Inc, Epic Vantage Inc and Elite Vantage Placement Ltd. SVI is a global leader in electronic market-making, employing over 2,700 staff in 39 countries. On any given day, the firm can trade upwards of US$3 billion on global stock markets.
Prior to SVI, Daniel was employed by and consulted for a privately-owned trading technology firm, where he was responsible for the product development of the firm’s trading system and negotiated market access agreements in NCSA, EMEA and Asia. He has operated two successful trading floors and early on in his career he worked as a day trader.
Educated in Canada, Daniel received an MBA from the John Molson School of Business, Goodman Institute of Investment Management at Concordia University, and a Bachelor in Commerce from the Rotman School of Management at the University of Toronto. He is a CFA charter holder and passed the FINRA series 7 and 24 exams as well as CSI courses, CSC and PDO.
Hugo Kruyne is the Vice-President and COO of Select Vantage Inc (SVI) and True North Vantage Inc. Before joining SVI he began his career as a day-trader, quickly moving on to management of a successful trading floor before taking on a variety of roles covering compliance surveillance, product development, quality assurance, business intelligence and operations.
Hugo’s focus at SVI has been on leveraging technology in support of SVI’s global operations. This has resulted in continued improvements to SVI’s proprietary trading platform and the creation of a real-time alert-based surveillance system which allows SVI to ensure the high-quality of its trade activity globally.
Hugo received a BA in Philosophy & Business from the University of Western Ontario. He also passed the FINRA Series 7 and 24 exams.
Mario Josipovic is General Counsel to SVI and its affiliates.
Mario has practiced securities law for over 20 years, six of which as an associate at a leading Toronto law firm. He acted as in-house counsel for a Toronto business that incubated various new financial services for buy-side institutions. For two years, he was President of Omega ATS, overseeing its initial start-up through to profitability. He has been with SVI since its inception.
Mario received an LL.B. from the University of Toronto and a B.A. (Hon) from Queen’s University (Kingston, Canada). He is licensed to practice law in the Province of Ontario. In addition, he has passed the CSI's CSC, CPH and PDO courses.
Laszlo is Managing Director, Vantage Group Hungary. In this role Laszlo manages the Vantage Group's European operations in Budapest.
Laszlo has over 20 years experience in the financial sector. This experience spanned different organizations (banks, brokerage firms and service providers) in a variety of management roles.
Educated in Hungary, Laszlo receive a BSc in Economics from Budapest Business School and an MSc from Corvinus University of Budapest.
Davide is the Director of Sales and Marketing for SVI and its affiliates.
In his role Davide manages the Vantage Group's sales and marketing team in Italy. Since joining SVI in May 2013, Davide has helped the company aggressively expand to now having a presence in over 65 countries around the world. Prior to SVI, Davide provided consulting for Apple, Deloitte and eBay.
He graduated with a B.S. degree in Business Administration from Bocconi University in 2012.
Andrés Navarro is Director, Business Development of SVI and its affiliates, and is based in Costa Rica.
Andrés started his career as a day-trader and subsequently worked in operations, business development and quality assurance roles in support of a global trading firm. At SVI Andres' focus has been on using his knowledge of financial market infrastructure to build out and maintain SVI's global market data and trading connectivity.
In addition he liases with vendors and trading partners to explore new markets and continue to add new functionality to SVI's trading platform to ensure its traders have the best possible market access, allowing them to engage on a level playing field in markets around the world.
Andrés received a Bachelor's degree in Computer Science from Colegio Universitario Cartago in Costa Rica.
True North Vantage Inc.
60 Wellesley St West, Unit 2
Select Vantage Inc.
Oficentro La Sabana, Torre 6, Piso 7, Oficina 26
San Jose, Mata Redonda
Select Vantage Inc.
(℅ Elian Fiduciary Services (Cayman))
190 Elgin Avenue
George Town, Grand Cayman,
Vantage Group Italy
Via G. di Vittorio SNC, Sinalunga
Vantage Group Hungary
17-21 Bokor Utca
Contact Select Vantage
Please use the below form to contact us if you have any further questions about SVI
+44 7515 922280
+44 7834 658630