Arfima Trading

It all started in Chicago, as Arfima tells its own history, before the firm settled its headquarters in Madrid. That lineage is rare: few European prop shops trace a direct founding line to the global capital of derivatives market-making.

Arfima trades its own capital across global derivatives as both liquidity provider and relative-value seeker, with interest-rate derivatives at the core and equity derivatives, commodities and FX around it. Since 2020 it has pushed into crypto and decentralised finance. The team of mathematicians, physicists, computer scientists and engineers runs on in-house software, and describes its culture as closer to a technology company than a traditional trading house.