The mysterious disappearance of a Chicago trading giant

Puzzling losses, a closely guarded auction and possible redemption – sources unpick Ronin’s collapse

More than a month after Ronin Capital’s portfolios were seized and sold off by clearing houses, much about the affair remains unknown, including the source of the firm’s losses and the results of the auction at CME.

It’s not just observers that are in the dark. Risk.net understands Ronin’s management team is still waiting to find out what happened in the auction – information that could ultimately help determine whether the famed Chicago prop trader has some kind of future.

Five sources