Old Mission Capital

Old Mission Capital went looking for the trades other market makers avoid: the hardest to price and most illiquid ETFs. Founded in Chicago in 2008, it built pricing technology from scratch specifically to quote instruments that did not fit existing models, then widened out to nearly every exchange-traded asset class.

Privately held and trading only its own capital, it stays deliberately lean, with quantitative traders and engineers working in close contact. In 2025 it stood up its first single-dealer platform and joined a UK retail-broker network to push ETF liquidity to British brokers, a rare reach from institutional plumbing toward retail flow. The firm now makes markets in ETFs, bonds, and options on and off exchange, but the illiquid-ETF niche remains its signature.