View Single Post
  #8  
Old 03-22-2020, 06:39 PM
Trom is offline
Guest
 
Join Date: Apr 2002
Location: Chicago, IL
Posts: 1,581
It's a big deal for the hundreds of people at Ronin Capital that just lost their jobs. For the broader financial system, the failure of Ronin isn't a big deal. Based on what I've heard, they were short volatility (betting that the market would calm down/stop crashing). As has been said, their losses overtook their capital, and they had to auction off the remainder of their positions to other market participants. If we start hearing about the big market making firms (Eg: Citadel, Susquehanna, etc.) blowing up, things could get really hairy.