Old Mission Capital LLC

What Old Mission Capital LLC does

Old Mission Capital LLC is a Chicago-based financial services firm founded in 2008 that operates as a global quantitative market maker, principally in exchange-traded funds (ETFs) with additional activity in bonds and options. The firm serves the world's largest institutional investors, exchanges, and brokers, providing liquidity and facilitating risk transfer across virtually every major exchange and multiple off-exchange venues, and is registered as an SEC broker-dealer and FINRA member. The company is organized as a wholly owned subsidiary of Old Mission Group LLC, alongside sister entity Old Mission Markets LLC, with offices in Chicago (headquarters) and New York.

The firm's core asset is a proprietary global quantitative market-making platform built continuously since 2008, which dynamically values individual securities and complex derivatives at high speed and has facilitated trillions of dollars of securities trading both on and off exchanges. The platform prices thousands of financial instruments globally and supports a stated position as one of the largest and most active ETF market makers. A new single-dealer trading platform, expected to launch by end of 2025, is designed to complement existing infrastructure by offering direct, bilateral access with customizable disclosed or undisclosed interactions, deeper markets, and tighter spreads for approved counterparties.

Revenue is generated transactionally through bid-ask spreads and per-trade economics from market making in ETFs, bonds, and options. The go-to-market is sales-led and relationship-driven, executed by dedicated sales personnel including a newly hired Head of Sales, Electronic Execution, and reinforced through active sponsorship of major industry conferences (ICI ETF, Options Industry, Cboe RMC, STANY, STA forums) and recruiting presence at top-tier universities. The firm employs 251-500 staff and emphasizes a flat hierarchy with rapid resource redeployment enabled by its privately held, founder-aligned ownership structure.

Name

Old Mission Capital LLC

Legal name

Old Mission Capital LLC

Website

https://oldmissioncapital.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

251–500 employees

Short description

Old Mission Capital LLC is a Chicago-based global quantitative market maker founded in 2008 that provides proprietary liquidity in ETFs, bonds, and options to institutional investors, exchanges, and brokers across major exchanges and off-exchange venues.

Ownership category

akta.pro rank

Product category

Market Making Services

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Institutional Brokerage & Agency Execution (FSAEACAC)

Keywords

• ETF market making
• Institutional liquidity provision
• Quantitative trading platform
• Electronic execution services
• Multi-asset market making

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Market Making - ETF Trading: Old Mission Capital is one of the largest and most active market makers in ETFs, making markets in thousands of products across virtually every exchange and multiple off-exchange venues. Revenue is generated through bid-ask spreads and transaction fees from providing liquidity to counterparties.
2. Multi-Asset Market Making (Bonds and Options): The firm maintains bilateral trading relationships across asset classes including bonds and options, providing liquidity and risk transfer services to institutional counterparties globally.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Old Mission Capital LLC operates a proprietary global quantitative market-making platform that dynamically values thousands of financial instruments, including ETFs, bonds, and options, and trades trillions of dollars of securities on and off exchange. The firm provides liquidity, risk transfer, and execution services to the world's largest exchanges, brokers, and institutional investors, and is launching a single-dealer trading platform to extend direct bilateral access to its differentiated liquidity.

Product overview

Old Mission Capital LLC operates a global quantitative market-making platform as its core product, valuing thousands of financial instruments globally and trading trillions of dollars of securities using proprietary systems on and off exchange. The company makes markets in ETFs, bonds, and options across virtually every exchange and multiple off-exchange venues. As a new initiative, the company is launching a single-dealer trading platform (expected by end of 2025) to complement its existing bilateral trading relationships by providing direct, bilateral access to its differentiated liquidity. Institutional services include risk management assistance and cost-efficient market expression strategies for approved counterparties.

Differentiator

Problem solved

Functional benefit

Products and services

• Global Quantitative Market-Making Platform Proprietary quantitative platform that dynamically values thousands of financial instruments globally, including ETFs, bonds, and options, and supports trading trillions of dollars of securities on and off exchange. Used internally by Old Mission to provide liquidity, risk transfer, and execution services to global exchanges, brokers, and institutional investors.
• Single-Dealer Trading Platform Single-dealer platform providing direct bilateral access to Old Mission's differentiated liquidity for approved counterparties, enabling customized disclosed or undisclosed interactions tailored to each client's preferences and allowing greater control over quote distribution and visibility.
• Institutional Services Risk management and cost-efficient market expression services for institutional clients, working with them to find the most cost-efficient way to express their market view and to manage a diverse portfolio of risks across global markets.

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Optiver: Global market maker specializing in derivatives and ETFs. Competes with Old Mission in options market making and ETF liquidity provision, with comparable technology-driven approach.
• IMC Financial Markets: Global quantitative market maker with significant ETF and derivatives trading. Overlaps with Old Mission's multi-asset quantitative market-making model and institutional client base.
• Jane Street Group: One of the largest global market makers, particularly dominant in ETFs and equities, using proprietary quantitative technology. A direct competitor to Old Mission's ETF market-making franchise, with significantly greater scale.
• Wolverine Trading: Chicago-based proprietary trading firm with significant market-making activity in options, ETFs, and equities. A directly comparable Midwestern peer with overlapping asset classes and exchange relationships.
• Flow Traders: Publicly traded European-headquartered market maker specializing in ETFs and other exchange-traded products. A directly comparable ETF liquidity provider with overlapping institutional client base.
• Susquehanna International Group (SIG): Privately held quantitative trading firm with substantial options, ETF, and equity market-making operations. Competes with Old Mission across options and ETF liquidity provision.
• Virtu Financial: Publicly traded global market maker providing liquidity across equities, ETFs, and other instruments. Operates a similar technology-driven, multi-asset market-making model and competes directly with Old Mission for ETF and equity market-making flow.
• Citadel Securities: Global market maker across equities, ETFs, options, and fixed income, part of the broader Citadel franchise. Competes head-to-head with Old Mission across asset classes and on exchange/off-exchange venues.
• GTS (Global Trading Systems): Electronic market maker and liquidity provider across equities, ETFs, and fixed income. Competes with Old Mission for institutional liquidity provision across multiple exchanges.
• Hudson River Trading (HRT): Technology-driven quantitative trading firm providing liquidity across global equities, ETFs, and futures. A direct competitor with comparable proprietary platform investment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/old-mission

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Old Mission Capital LLC