Group One Trading, LP

What Group One Trading, LP does

Group One Trading, LP is a privately held options market maker and specialist founded in San Francisco in 1989 and headquartered in Chicago. The firm maintains a physical specialist post and streams two-sided electronic quotes on all four major US options exchange groups—CBOE, NYSE AMEX, NYSE ARCA, and NASDAQ PHLX—providing competitive liquidity across thousands of securities to institutional investors, hedge funds, and other market participants. Revenue is generated through bid-ask spread capture on options contracts, with the firm also serving as Designated Primary Market Maker for specific ETF options such as those on Tuttle Capital Management's Pure Play Photonics ETF (FOTO), where it coordinates multi-venue liquidity with partners including Jane Street Capital. The firm is wholly owned by its founders and employees, with all trading conducted on a proprietary basis.

The firm's core operational asset is a proprietary electronic trading platform built on .NET/C# architecture, featuring a high-throughput, low-latency parallel computational core, service-oriented architecture, and a real-time risk management database that monitors exposure across the entire firm's positions and a business analytics database that manages over 6,000 unique positions simultaneously. An electronic quote streaming system posts two-sided quotes across multiple exchanges, and a portfolio management system coordinates thousands of securities in real time. The platform is developed and maintained in-house, with the firm hiring software developers, quantitative analysts, and trading analysts through an Internship Program offering specialization tracks in Applications Support, Business Intelligence/Data Analysis, Quantitative Analysis, Software Development, and Trading Analysis.

Group One develops trading talent through a structured Analyst Training Program consisting of orientation and three progressive phases covering options fundamentals, proprietary software, modeling, scripting, and risk management, followed by trader shadowing and mock trading. The firm operates from four US offices (Chicago headquarters, New York, Philadelphia, and San Francisco), actively recruits at top-tier universities, and emphasizes employee retention with experienced multi-year veteran traders. The firm carries no external institutional investors, has no subsidiaries, and operates with no publicly disclosed revenue or funding history.

Name

Group One Trading, LP

Legal name

Group One Trading LP

Website

https://group1.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

101–250 employees

Short description

Group One Trading, LP is a privately held options market maker and specialist providing competitive two-sided liquidity across CBOE, NYSE AMEX, NYSE ARCA, and NASDAQ PHLX through a proprietary electronic trading platform, serving institutional investors, hedge funds, and ETF issuers.

Ownership category

akta.pro rank

Product category

Options Market Making / Proprietary Trading

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (52316)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Listed Derivatives Market Making (Futures & Options) (FSACANAD)

akta.pro secondary industry

Options Volatility & Delta-One Market Making (FSACANAG)

Keywords

• Options market making
• Proprietary trading
• Electronic trading platform
• Exchange liquidity provision
• Trading firm

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Market Making / Bid-Ask Spread: As an options market maker, Group One Trading earns revenue from the bid-ask spread on options contracts. They provide competitive liquidity across a broad range of securities while managing portfolios of thousands of securities and streaming two-sided quotes across multiple exchanges.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Group One Trading operates as an options market maker and specialist providing competitive liquidity to institutional investors and other market participants across every major US options exchange group (CBOE, NYSE AMEX, NYSE ARCA, and NASDAQ PHLX). The firm trades on a fully proprietary basis, managing portfolios of thousands of securities while electronically streaming two-sided quotes across multiple exchanges via a proprietary .NET/C# trading platform with real-time risk management. All trading capital and positions are the firm's own, with revenue generated from bid-ask spreads on options contracts.

Product overview

Group One Trading is a privately held options market maker and trading firm offering a unified platform of proprietary electronic trading services. The company provides options market making and liquidity provision across major exchanges (CBOE, NYSE AMEX, NYSE ARCA, NASDAQ PHLX) through its proprietary electronic trading platform. Supporting the core trading operations is an Analyst Training Program that develops traders in options fundamentals, risk management, and proprietary software usage, alongside a structured Internship Program spanning applications support, quantitative analysis, software development, and trading functions. The company also offers employee benefits packages as part of its compensation structure.

Differentiator

Problem solved

Functional benefit

Products and services

• Options Market Making Services Group One Trading operates as an options market maker and specialist providing competitive liquidity across a broad range of securities on major US exchanges including CBOE, NYSE AMEX, NYSE ARCA, and NASDAQ PHLX. The firm streams two-sided quotes across multiple exchanges for thousands of securities, serving institutional investors, hedge funds, and ETF issuers on a proprietary, principal basis.
• Proprietary Electronic Trading Platform Proprietary electronic trading platform built on .NET using C# that manages portfolios of thousands of securities and streams two-sided quotes across multiple exchanges with real-time risk management. Features include a high-throughput, low-latency parallel computational core, service-oriented architecture, a real-time Risk Management Database monitoring 6,000+ unique positions, a Business Analytics Database, and direct interfaces to exchanges' market data and execution systems.

Quantifiable outcome

• 6,000+ unique positions monitored in real-time
• +1 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Jane Street Capital, LLCcoreStrategic or Co-development Partner · 5 June 2026Jane Street Capital supports EDGX Options for the Tuttle Capital Pure Play Photonics ETF (FOTO), working alongside Group One Trading which serves as Designated Primary Market Maker for Cboe Options. Both firms provide liquidity for investors to hedge photonics exposure, express directional views, and generate income through covered call strategies.
• Tuttle Capital ManagementcoreStrategic or Co-development Partner · 29 May 2026Group One Trading serves as Designated Primary Market Maker for options on Cboe Options (C1) for Tuttle Capital's Pure Play Photonics ETF (FOTO), enabling options trading that gives investors tools to hedge photonics exposure and express directional views.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Susquehanna International Group (SIG): SIG is a large privately held proprietary trading firm with a substantial options market-making arm (SIG Susquehanna). It competes directly with Group One across listed equity and ETF options on US exchanges, with similar business model, multi-exchange presence, and proprietary technology.
• Citadel Securities: Citadel Securities is one of the largest US options market makers and a designated primary market maker on multiple exchanges. It directly competes with Group One in providing institutional liquidity in listed options, though at significantly greater scale and capital.
• Optiver: Optiver is a global proprietary trading firm and leading options market maker with significant US presence. It competes with Group One in ETF and equity options market making, using proprietary technology and similar spread-based revenue model.
• IMC Financial Markets: IMC is a global market maker in derivatives, including listed equity options, with a US operation that competes directly with Group One on major US options exchanges using proprietary low-latency technology.
• Wolverine Trading: Wolverine is a privately held proprietary trading firm with an options market-making arm that competes with Group One on US listed options exchanges, using proprietary technology and a similar specialist/market-maker role.
• DRW Trading: DRW is a privately held principal trading firm with significant options market-making and liquidity provision activities in the US, competing with Group One across listed equity and ETF options.
• Jane Street Capital: Jane Street is a major global market maker that also provides ETF options liquidity, and is explicitly identified in Group One's data as a co-liquidity partner on the FOTO ETF. It is a direct competitor in institutional options liquidity provision.
• Two Sigma Securities: Two Sigma operates a market-making business across US equities and options as a registered market maker, competing with Group One in providing institutional liquidity on listed options venues.

Emerging players

• Mako Trading: Mako is an emerging options-focused market making firm with presence on major US options exchanges, providing direct competition to Group One in the options specialist/market-maker category though at smaller scale.

Broad incumbents

• Cboe Global Markets: Cboe operates the largest US options exchange group and is both a key venue for Group One's market making activity and a broader incumbent in the listed options ecosystem whose fee structure, product launches, and rule changes directly shape Group One's economics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/group-one-trading-lp

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Group One Trading, LP