. all systems traders type public industry financial services founded amsterdam netherlands 1892 headquarters schiphol netherlands products trading revenue eur110 .8 million 2007 net income eur 77.7 million 2007 total equity us 1040 million 2007 1 number of employees 440 website www.vandermoolen.com van der moolen was a dutch equity trading firm with its headquarters located in amsterdam . 2 they were mainly active in the united states and in europe particularly in the netherlands france germany switzerland and the united kingdom . 3 van der moolen which at its peak was one of the largest registered marketmakers on the new york stock exchange filed for bankruptcy in september 2009 after mounting losses . 4 originally known as van der moolen & co. it was founded in july 1892 as a jobber or hoekman which traded in equities and bonds . the company started its expansion in the derivatives markets in the late 1970s . van der moolen became a limited liability company in december 1986 and soon afterwards was listed on the amsterdam stock exchange aex . the company s shares were also listed on the new york stock exchange nyse in october 2001 . 5 in 2001 van der moolen launched vdm bonds to provide fixed income liquidity in less than wholesale transaction sizes to banks and other intermediaries . 6 vdm bonds 7 was sold to zions bancorporation in march 2004 after its management team left the company . 8 9 10 in january 2006 vdm acquired curvalue a dutch trading company specialized in derivative trading . 11 in late 2006 vdm acquired the assets of london based prop trading firm hills independent traders ltd. in 2008 vdm uk s proprietary equity and futures trading unit was closed . on the new york stock exchange van der moolen served as specialist until 2007 when it sold the activities to lehman brothers . 12 at one point van der moolen usa s specialist book had represented 15 % of the nyse listed common stocks and accounted 11 % of the nyse s volume . 13 regulatory changes which slashed margins for market makers and allowed a flood of new competition for trading volume significantly impaired the profitability of this vdm unit . 14 previously in 2003 van der moolen specialists became subject to an investigation by the sec on allegations of front running . in 2004 van der moolen reached a settlement with the sec and paid a fine of 57.7 million . some employees were convicted of fraud while others robert scavone jr. were later acquitted . 15 16 on august 10 2009 van der moolen requested protection from its creditors a short time after opening its new headquarters near amsterdam airport . 17 on september 10 2009 van der moolen filed for bankruptcy . 18 the company assets in the netherlands were liquidated in january 2010 with an auction raising euro 400 000 19 against creditor claims for euro 28.3 million . 20 an announcement of a tax reclaim from the german tax authorities arrived a week after the bankruptcy filing . the euro 32 million tax reclaim was transferred to vdm s liquidator in october 2009 with a condition and it may still have to be returned . 21 22 this tax refund could have saved the company but simply arrived too late . van der moolen s dealings are being investigated by the dutch market regulator afm . 23 as of 23 december 2010 van der moolen shares were no longer listed on the euronext amsterdam exchange . 24 25 26 according to a report dated 13 may 2011 by the enterprise chamber of the amsterdam appeals court prior to bankruptcy van der moolen s management didn t seem in control of the company s dividend arbitrage activities and attention to capital management and external financing was limited . the dutch investor group veb and insurer asr nederland nv had asked the enterprise chamber to investigate the firm s management . veb may now ask the court to assert mismanagement which may lead to damage claims . 27 28 van der moolen schiphol airport trading floor van der moolen amsterdam airport offices van der moolen airport office reception references edit businessweek . investing.businessweek.com . retrieved 2012 06 07 . van der moolen expects to be granted bankruptcy friday wed sep 9 2009 . reuters.com . company profile for van der moolen holding nv june 27 2003 archived september 27 2008 at the wayback machine . tim cave german firm quits over tough high frequency trading rules http blogs.wsj.com moneybeat 2013 06 05 german firm quits over tough high frequency trading rules wall street journal money beat accessed 05 10 2013 van der moolen holding nv annual report 2006 ernst & young p. 8 . xbrl.rienks.biz . retrieved 15 december 2009 . van der moolen odd lot trading with a very experienced team in capital markets magazine of q2 2001 pdf . speedwell.net . mayer brown rowe & maw llp advises van der moolen on sale of bonds trading subsidiary . mayerbrown.com . van der moolen signs agreement to sell vdm uk bonds . business wire . january 7 2004 . retrieved 20 december 2010 . team profile details team move to abn amro . uk.linkedin.com . retrieved 10 may 2011 . tullett raids abn s e commerce team . fxweek.com . 30 july 2007 . retrieved 10 may 2011 . van der moolen holding nv annual report 2006 ernst & young p. 8 . xbrl.rienks.biz . retrieved 15 december 2009 . lehman swipes up van der moolen specialist ops . 247wallst . com . december 4 2007 . van der moolen holding n.v. securities and exchange commission form 6 k december 2001 . secinfo.com . retrieved 30 december 2010 . moyer liz 2011 01 06 . goldman s nyse floor operations struggle as market changes wall street journal accessed 11 january 2011 . online.wsj.com . retrieved 2012 06 07 . corrected ex nyse trader sentenced to 6 months for fraud reuters.com jan 19 2007 . reuters.com . retrieved 2012 06 07 . glovin david 2008 07 30 . ex van der moolen specialists win conviction reversal bloomberg.com july 30 2008 . bloomberg.com . retrieved 2012 06 07 . van der moolen granted creditor protection reuters.com mon aug 10 2009 . reuters.com . retrieved 2012 06 07 . dutch van der moolen declares bankruptcy reuters.com wed sep 9 2009 5 57 pm . reuters.com . retrieved 2012 06 07 . van der moolen s garage sale . amsterdamtrader.com . retrieved 30 december 2010 . van der moolen to auction statuettes cars in bankruptcy sale . bloomberg businessweek . january 5 2010 . retrieved 30 december 2010 . 31 jul 2011 . who is frank vogel . amsterdamtrader . retrieved 2012 06 07 . http www.veb.net content bestanden acties vdm vdmverzoekschrift1aug.pdf dutch court orders van der moolen investigation reuters.com mon jul 5 2010 . reuters.com . retrieved 2012 06 07 . euronext listings . euronext.com . retrieved 2012 06 07 . whodunit at vdm oct 9 2009 . amsterdamtrader.com . 9 october 2009 . retrieved 2012 06 07 . aandeel van der moolen officieel verleden tijd rtz.nl 23 12 2010 in dutch . rtl.nl . 2010 12 23 . retrieved 2012 06 07 . maud van gaal and fred pals bloomberg . van der moolen governance was flawed before bankruptcy dutch probe says . bloomberg.com . retrieved may 17 2011 . enterprise chamber of the amsterdam appeals court report on van der moolen n.v. bankruptcy of 13 may 2011 http deeplink.rechtspraak.nl uitspraak id ecli nl ghams 2013 bz1149 dutch rechtspraak.nl accessdate 16 july 2011 external links edit official website business plan bloomberg tickers for van der moolen linkedin listing for van der moolen retrieved from https en.wikipedia.org w index.php title van der moolen & oldid 711702656 categories companies of the netherlandshidden categories articles with wayback machine linkscs1 dutch language sources nl navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial 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