Van der Moolen

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Van der Moolen
<Van der Moolen Logo.png
Founded 1892
Headquarters Amsterdam
Key People Richard Den Drijver, former CEO; Hans Kroon, former vice-chairman
Products securities trading and brokerage (Now defunct)

Van der Moolen was an international securities trading and brokerage firm active in securities, futures, derivatives indexes and exchange traded funds. Prior to its bankruptcy in September 2009, the 117 year old firm was active on the major securities exchanges in the United States and Europe.

The firm specialized in providing low-cost liquidity in worldwide markets.[1]

History

Van der Moolen was founded in 1892 as a securities firm and, before its ultimate demise was considered to be one of the top market maker names in New York. [2]

The firm struggled, however, in the mid-2000s, as it racked up losses in an attempt to adjust to electronic trading environments. In November 2007, in order to raise money, Van der Moolen sold its U.S. sspecialist operations to the now-defunct Lehman Brothers investment bank. It would prove to be too little, too late, however, and on September 9, 2009, the firm declared bankruptcy.

In 2013, a Dutch court found two executives, Richard Den Drijver and Hans Kroon, liable for having mismanaged the firm into bankruptcy.[3] Both men went into hiding and, as of late 2013, had not been apprehended.

References

  1. Van der Moolen Profile. Van der Moolen.
  2. Dutch Van der Moolen declares bankruptcy. Reuters.
  3. First hits against Den Drijver and Kroon. Amsterdam Trader.