I am continually impressed by the breadth of interesting people I encounter in the fintech arena. Whether they are traders, technologists, media or even marketers (yes, believe it or not), there are so many great stories behind the scenes from the people that make this industry exciting. So, welcome to “Five Questions with…,” a new Trade Talk series in which we interview notable market participants and technology thought leaders about a few common—and a few unique—industry-related subjects. Our first chat is with Danny Riley of MrTopStep, a multi-channel outlet dedicated to financial news and education. Danny is passionate about the industry and he educates while he entertains on his Periscope channel. Read on to learn how Danny came to found MrTopStep, what he looks for in a trading execution platform and more. And, hope you enjoy the series.
Brian Mehta, CMO
TT: How did you get involved in trading, and what path took you to where you are now?
Danny: Less than a year after high school, I received an offer to work as a runner for Agra Trading in the grain room of the Chicago Board of Trade. As soon as I walked on the floor, I knew I wanted to be in the industry. After working in the grain pit, I moved to the bond floor, and from there, I ended up at the CME, where I built the largest-volume S&P futures desk on the floor. As the demand for open outcry decreased, I moved my desk from futures to S&P options, where I filled orders electronically.
Before leaving the floor in December of 2014, I founded a company called MrTopStep.com to help educate both professional and retail traders about many of the rules and methods I learned while on the floor. Since my move from the floor, I have had to work out the challenges of transitioning from the energy and feel of the floor to trading on the screens. I have found that volume imbalance and footprint charts have helped me recreate some of the market feel and trading rules I used on the trading floor. (more…)