Adam Todd (CEO & Founder) started pit trading when he was 19, trading 10 Year Bund futures on his own account.
Just the mechanics of physically jostling and shouting and waving your arms in the air to enter and exit trades added an extra element to trading that doesn’t exist anymore with screen trading. It was an exhilarating place with an electric feel that heightened the senses, but the high costs of a seat lease and the relentless battle against commissions meant that it was always a struggle.
As a very short-term scalper stealing ticks here and there it was a very physical job and after a few years, Adam was just burned out by it.
After traveling, Adam discovered Betfair.com and soon became a full-time trader on their UK horse racing markets. He would trade the odds on the favorite horse right up until the race was due to start, scalping the spread and making the same amount of money whether the horse won or lost the race.
In this manner, Adam would trade on every race throughout the day, winning nine races out of ten, with his longest winning streak being eight months of full-time day trading without a losing day.
This was the same style of trading Adam did when scalping Bund futures–very short-term trading without any knowledge of the fundamentals of the underlying instrument.
Adam had dreamed about somehow trading futures with no trading commissions but it was never more than an idle thought.
After discovering Ethereum, Adam’s mind went into overdrive thinking about how best to capitalize on this amazing new technology that he knew was going to shake up everything it touched.
When it occurred to him that token issuance could replace transaction fees on a futures exchange, suddenly he could think about nothing else and started working full time on creating Digitex.
Zero trading commissions, a one-click ladder trading interface, and large tick sizes are all scalper-friendly features that will make Digitex the futures exchange of choice for short-term traders looking to make consistent profits.