TransMarket Group was founded in 1980 as Aardvark Financial Inc. The name was originally chosen so that the firm could receive its out-trade reports first as they were handed out alphabetically. Since out-trades were a serious risk in pit trading, the Aardvark name represents innovating (in this case by using a dictionary) to trade and manage risk more efficiently. TMG has been a major player in the markets since its founding and pioneered bond futures basis arbitrage at the inception of the CBOT Treasury futures contracts.
In the fall of 2010, TransMarket Group’s subsidiary Aardvark Trading and TMG’s domestic “arcade” operation agreed to merge operations. The merger integration between TMG domestic and Aardvark has largely been completed and resulted in the shift of TMG’s core business to team based model driven proprietary trading, though a small independent trading operation still remains. TMG’s previous international operations are being divested.
