Inside Optiver’s Institutional Trading Team

On S&P, traders rely heavily on speed, decisiveness and execution. On Single Stock Options, negotiation, timing and long-term relationship building hold more weight.

That’s why you’ll find traders who started their careers in sales, consulting and technology sitting alongside former asset managers and brokers. Diverse backgrounds, different strengths, each matched to the desk where they’ll best fit.

To show this in practice, five Institutional Traders from our London and Amsterdam team share how their career experiences helped them succeed in a role few expected, along with practical advice for anyone considering a similar path.

Part 1: How five team members found their fit

There’s no “right” background for an Institutional Trader at Optiver. Some joined from brokerage or market making, others from sales, asset management or entirely different industries. Most didn’t even know this role existed. So how did they end up here—and how did they know they’d be a fit?

What was your path into Institutional Trading?

Sophie: I had pretty much zero financial background beyond a few modules during my Economics degree. After university, I spent a year at Amazon speaking to a lot of clients and helping sellers grow their businesses. It gave me a good foundation for relationship management, so I wanted to apply that somewhere more analytical and fast-paced.

Ferdinand: I started as a broker on the live trading floor when I was 19. I planned to try it before university and loved it so much I never went back. Over my career, I regularly interacted with Optiver as a client. So when I returned to Amsterdam they reached out to see if I’d be interested in Institutional Trading. For me, it was a great opportunity to see it from the other side.

Maarten: I worked at an investment bank where most of my time was spent reading about markets and advising institutional investors. In asset management sales, I found myself talking about what was happening but not steering anything. I wanted something more varied where I could apply my financial knowledge and actually influence outcomes. I found that in this seat.

Patrick: This is my third market-making firm over a 10-year career. My first experience taught me core market-making principles across multiple products on the floor, which is definitely beneficial as a young trader. I then moved to a role where I could integrate my product knowledge and broker relationships in a more technical environment with an execution focus.
Institutional Trading felt like the natural step to take all that experience to the next level: becoming a more intelligent volatility trader, taking larger positions and feeling integral to the market I’m trading.

Martin: After graduating, I worked in commercial real estate. Different from trading but it gave me a solid grounding in market fundamentals, professionalism and relationship building, skills that transferred surprisingly well when I learned about the role.

Why did this opportunity stand out to you, given your background and interests?

Sophie: I hadn’t come across many jobs that require such a blend of technical and people skills. Most roles lean heavily one way or the other. I’ve always been more of an all-rounder and I wanted something more technical than pure sales, but not something purely quantitative either. That middle ground is rare to find.

Maarten: I knew Optiver by name but didn’t know this role existed. I thought all traders here had very quant heavy backgrounds. I like working in a quantitative capacity, but I wouldn’t describe myself as a quant.
The sales and relationships management skills from my previous role apply well to brokers and counterparties you speak to daily here. You have to combine all the different aspects, thinking on your feet, communicating effectively, collaborating well and you have to have some theoretical understanding of what goes into a quote. That combination of the analytical side of trading with that human aspect was exciting.

Martin: When I first saw the role, I didn’t have a clear picture of what an Institutional Trader actually did. What appealed to me during the interviews was the internal versus external communication aspect, being the voice to the market while also working with the trading desk in real time. I’m quite sociable. I like working with people more than just staring at screens and code.

Ferdinand: I wanted to challenge myself to grow and compete on a different level. Compared to the brokerage industry, the environment here changes every day. It was the opportunity to grow within the firm and to have impact at the desk level and the firm level depending on the market you’re looking at. I love the game-like element of the role. It’s a combination of chess and poker, thinking a few steps ahead while reading the person on the other side of the phone.

“I hadn’t come across many jobs that require such a blend of technical and people skills. Most roles lean heavily one way or the other. That middle ground is rare to find.”

Part 2: Learning at the desk

Once in the role, every trader faces a learning curve. Success depends not just on how quickly they can adapt, but how well they use their existing strengths to make an impact on the trading floor. We asked the team what it was like to join their desk, and what makes it different from other traditional trading roles.

What do you enjoy most about your day-to-day work?

Ferdinand: Three things. First, the focus on development and education. I wish I’d had a mentor or training programme like what we provide when I was starting out. The training is both theoretical and mental and gives you the tools to handle the high-pressure environment. You receive almost constant feedback from your team and from counterparties. As a mentor, I get to guide people through that.

Second, competing with the rest of the world. We compare ourselves to top athletes and it’s easy to forget how much work goes into performing at that level. Looking back and seeing how far you’ve come and the impact you’re having on the trading floor is the best feeling you can have.

Finally, it’s the relationships we build. It’s very competitive and the people we talk to are also the best in their markets. We build such a high level of trust that even if one side makes a mistake, it doesn’t get personal. We know both sides are there for the long term and that we’ll still need each other for the next 20 trades that day or the next 10,000 trades in my career.

Maarten: That’s easy, the trading part. That’s what we do on a daily basis and in times of volatility, it really shows our value add as a market maker to improve liquidity. It’s the most challenging time as you have to prioritise well, take on more risk, communicate well and make split-second decisions.
The energy on the floor is something you can feel the moment you step in.

Patrick: Being a market maker specifically, every single day is effectively a new problem. You can apply past experience to what’s currently happening in the market but when you walk in, you really don’t know what’s going to happen that day. There’s immediate feedback too, from PnL, your peers, your desk. You can tell immediately if you’re trading well and if not, you can change things quickly to trade better. 

Martin: When I look back, I can see how much I’ve grown and improved while doing the job. Business trips are a good example. Initially, they were solely focused on meeting people and engaging with them. Over time, they evolved into building deeper connections and strengthening long-term relationships. Now, my trips are centred around understanding the markets and identifying new business opportunities through my network. I trade every day but it’s a continuous evolution.

“Every single day is effectively a new problem. You can apply past experience to what’s currently happening in the market but when you walk in, you really don’t know what’s going to happen that day.”

What’s been your biggest learning since joining the team?

Martin: A quote that stuck with me is “get everything up to par.” Know the competencies you need for the job, get them to a functional level, then focus on what you’re good at. I knew my mathematical skills were behind, so I invested time there. I didn’t need to be the strongest at options theory but I needed to be strong enough so I could lean into my communication strengths. Working on competencies is an ongoing process. Even after all these years, I still see areas where I can improve. Challenging others and being challenged in return is how we grow and get better together.

Ferdinand: For me, it’s the mindset shift. I had a very different background from most of the team, so I had no idea if I would be successful or not. But you realise that with the right mentality you can keep learning, growing and developing at a high level whatever career stage you’re in. It’s like being a footballer. You don’t need to be a superstar in your first game, but you can get there with effort and belief in yourself.
I knew my strength was in relationships, so I focused on catching up on the more technical side, formulas, automation, everything that was further from my background.

Maarten: You’re never done learning. The job description sounds straightforward, represent Optiver’s quotes, execute in the market. The reality is there are so many different markets and products, each with their own nuances. Every situation requires a different approach.
Every day brings new challenges, from market moves to competitive pressure to counterparty interactions. It’s a role that keeps you alert, engaged and always on your toes.

Patrick: Being more comfortable with more calculated risk. We spend a lot of time developing trading plans and discussing how we would want to react should certain situations happen in the market, expected or unexpected. This allows us to be confident in our volatility calculations so we can react confidently to capitalise on those markets. I’m more proactive with my trading here and we’re much more of an active market participant.

What sets Institutional Trading apart from other trading roles you’ve experienced?

Patrick: Institutional Traders and Quant Traders work on products together, so there’s a significant uptick in teamwork, sharing trading decisions and bouncing ideas off each other in real time. At other firms, there’s often a greater focus on execution or PnL specifically tied to voice flow. Here, you’re positioned at the frontline of external markets, translating critical market insights directly back to the team. Even on a busy desk, your insights hold real weight.

Maarten: The impact we have is more noticeable at Optiver because of how flat and how collaborative the environment is. It doesn’t really matter which role you start in, there are so many opportunities to add value. If you spot a market opportunity or a better way for the team to work, you can discuss this directly with the team and create the buy-in needed to move forward and chase the opportunity.

Part 3: Key skills and advice from the team

While no two desks are the same, certain skills show up across the board. Here, the team shares what they believe makes a great Institutional Trader, and finally, what advice they’d give to someone considering this path.

In your experience, what are the most important skills to succeed as an IT?

Ferdinand: Reasoning speed is crucial. You operate in a fast-paced environment where you need to digest and filter information quickly and build a game plan from it. It’s about connecting your competencies—relationship management, negotiation, communication and trading knowledge—and maximising the outcome that comes from combining all of them effectively.

Maarten: It’s a combination of skills. It’s important to be strong on the relationship side, as we speak to brokers and direct counterparties every day. You need to communicate effectively both internally and externally while also having a solid analytical foundation to understand the trading decisions.

Sophie: The ability to read between the lines is really important. You need to apply common sense and context to critically assess what someone is saying versus what they actually mean which comes with time and practice. You also have to be able to work well under pressure. Sometimes my heart rate spikes, but the adrenaline in those moments makes it fun and the decisions you make under those conditions can have a big impact on PnL.

Patrick: Strong attention to detail and the ability to multitask are essential. Be effective with the words you use and how you interact with externals, internals and with the systems you work with. You must be able to learn from both your mistakes and your wins. You also have to be a good ambassador for Optiver. In the Institutional Trading role, you interact with external counterparties every day and each interaction leaves them with an impression of the company based on how you present yourself.

“There is no single definition of a strong Institutional Trader. Not everyone on the team has the same strengths or weaknesses, and different markets value different things. Don’t try to copy someone else, focus on being the best version of yourself.”

Any tips or insights you’d share with someone exploring a role like this?

Martin: Be open, reflective and above all, proactive. You are in the driver’s seat of your career at Optiver. We ensure the right training and coaching are available, but ultimately, you are the one who has to put in the work. Use the smart people around you to steepen your learning curve. There is no single definition of a strong Institutional Trader. Not everyone on the team has the same strengths or weaknesses and different markets value different things. Don’t try to copy someone else, focus on being the best version of yourself.

Ferdinand: It is addictive to compete with the best in the world. Embrace the pressure of a fast and dynamic environment, you know you will perform when the market is moving. We want people to reach a point where they enjoy the game because they know they have mastered the right skills and can apply them confidently in their day-to-day work.

Patrick: Ask as many questions as you can and realise that there is a takeaway from every trading moment, whether it’s good or bad. Being highly curious is one of the most important drivers of success in this role. You can’t be passive or sit back waiting for others to teach you. If something doesn’t make sense, be intellectually curious enough to research it yourself, understand whether it’s relevant to how you trade and then speak to the people who can explain it. If you don’t understand something, the worst thing you can do is ignore it.

Sophie: Don’t be afraid to make mistakes—that held me back in the beginning. I didn’t want to say something that sounded stupid. But if you don’t ask, you won’t grow. Lastly, I’d say have fun and enjoy the ride. It’s an incredibly interesting environment where you’re on top of the markets all day and can really feel the buzz when things get busy.

Every Institutional Trader brings something different to the team, and there’s no single background that defines success. If the paths and perspectives shared here resonate with you, explore our current opportunities.