Mr. Michael’s financial and trading career began in 1985 when he began trading in the fixed income markets and specializing in the yield curve analysis. He also began the development of computerized risk management models for equity and financial options traders similar to strategies used by today’s portfolio risk mangers. The basic methodologies are currently employed and implemented by SCM.
Mr. Michael’s extensive trading experience started at the Chicago Board of Trade (“CBOT”) in the financial markets. He was a bond trader for eight years. He specialized in trading the yield curve where he was able to apply the methodologies he had previously created. Mr. Michael was then able to design specific proprietary trading models from his research which he utilized to trade the yield curve instruments at the CBOT. Additionally he was a registered Floor Broker from 1988 to 1992
He then was able to apply the same methodology to create models to trade the currency futures markets at the International Monetary Market Division (“IMM”) of the Chicago Mercantile Exchange (“CME”). Mr. Michael has been a member of the Chicago Board of Trade as well as the Chicago Mercantile Exchange and the Mid American Exchange, where he sat on a number of exchange governance committees.
Mr. Michael later founded S&G, Inc., an Illinois corporation (“S&G”), which was a proprietary yield curve arbitrage and execution company. Mr. Michael’s responsibilities with S&G, included leading the bond basis trading team and overall group risk management. S&G was sold in 1990 and Mr. Michael began to concentrate solely on fund management and trading in the foreign exchange markets.
In the trading arena, his focus was centered on creating algorithms which integrated statistical analysis to create trade signals for execution in the Foreign Exchange Market. While a CBOT member he worked with the proprietary trading group of Chemical Bank London creating statistical models for trading in the currency markets.
From 1995 through 1997, Mr. Michael directed the foreign exchange trading department of the large London and Chicago based investment firm Gerrard and National Inc. (“GNI”), where his responsibilities quickly grew to the management of all proprietary trading and to the head of global risk management.
With a desire to get back to Chicago and his roots, Mr. Michael began discussions with Rosenthal Collins Group, LLC (“RCG”) a Futures Commission Merchant (“FCM”) and brokerage firm. From 1998 and into 1999, he was chief dealer and head of all global FX trading for RCG. At this point Mr. Michael wanted to further his experience in managing money. To that end he sought out an experienced acquaintance of his. Ultimately discussions led to a partnership. In 2000 Mr. Michael joined forces with the head macro analyst at Soros Quantum Fund to form Macro Fund LP- a global macro fund. In 2001, Mr. Michael sold his interest in Macro Fund to pursue his interest of utilizing strict quantitative models and started Corymb Capital Management, LLC and Quant Fx Management, LLC.
At Quant-Fx and Corymb, Mr. Michael implemented a proprietary quantitative mathematical model used for capital appreciation with disciplined risk management. The strategy was a quantitative mathematical model which analyzed one minute intervals of trading data and calculates a dynamic volatility adjusted band around the opening of all the major market trading centers (Tokyo, London, New York). The work accomplished while managing Quant FX Management and Corymb Capital Management is continued with the Program now offered with SCM.
Trading in foreign exchange is speculative and may involve the loss of principal; therefore, assets placed under management should be risk capital funds that if lost will not significantly affect one's personal financial well being. This is not a solicitation to invest and you should carefully consider your financial situation as to the suitability to your situation prior to making any investment or entering into any transaction.
