en.wikipedia.org/wiki/Jump_Trading
2 corrections found
Bill Disomma
The co-founder’s surname is misspelled here. Authoritative sources spell his name Bill DiSomma, not Bill Disomma.
Full reasoning
Authoritative sources spell Jump Trading’s co-founder’s name Bill DiSomma.
- The University of Illinois’ Entrepreneurship at Illinois profile for Jump Trading lists the founders as Bill DiSomma and Paul Gurinas.
- A 2025 SEC Schedule 13D filing also names him William DiSomma and identifies him and Paul Gurinas as the co-founders and ultimate beneficial owners of Jump Trading Group.
Because both sources use DiSomma, the article’s spelling Disomma is incorrect.
2 sources
- Jump Trading | Entrepreneurship at Illinois
Startup Name Jump Trading ... Year Founded 1999 ... Bill DiSomma ... Paul Gurinas ...
- SEC Schedule 13D filing identifying Jump Trading co-founders
Name of reporting person William DiSomma ... Mr. DiSomma and Mr. Gurinas are the co-founders and ultimate beneficial owners of Jump Trading Group.
In May 2018, Jump was fined $250,000 by the U.S. Securities and Exchange Commission (SEC)
This fine was not imposed by the SEC in May 2018. Official records show it was a NYSE Chicago disciplinary action that was resolved on September 12, 2019.
Full reasoning
Official disciplinary records contradict both the regulator and the timing stated here.
- FINRA BrokerCheck’s report for Jump Trading, LLC lists the matter as initiated by NYSE Chicago, Inc., not the SEC.
- The same record shows the matter’s resolution date was September 12, 2019, with sanctions including censure and a $250,000 fine.
- BrokerCheck also states the underlying incident occurred on May 4, 2018, when an algorithm malfunction accumulated large positions and caused the firm to fall out of compliance with net capital requirements. That means May 2018 was the date of the incident, not the date the fine was imposed.
So the article’s wording is incorrect in two ways: it attributes the fine to the SEC instead of NYSE Chicago, and it says the firm was fined in May 2018 even though the disciplinary action was resolved in September 2019.
2 sources
- FINRA BrokerCheck Report for JUMP TRADING, LLC
Initiated By: NYSE CHICAGO, INC. ... Resolution Date: 09/12/2019 ... Sanctions Ordered: Censure ... Monetary/Fine $250,000.00 ... On May 4, 2018, an algorithm ... accumulated large positions ...
- NYSE Chicago Order Instituting Proceedings — Jump Trading
The NYSE Chicago disciplinary order concerns Jump Trading’s risk controls and net capital violations arising from the May 4, 2018 algorithm event; the exchange, not the SEC, imposed the sanction.