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Maple Financial trades securities and derivatives for its own account. Our activities include convertible bond trading, program trading, statistical arbitrage between pairs or clusters of stocks with a stable trading relationship, and dispersion trading of the spread between the volatility of an index and the volatility of its components. Our trading activities are biased towards being "long the accident" - that is, structured to take advantage of widening credit spreads or increased market volatility. Maple's long term success in trading is attributable in equal parts to a pervasive risk management mindset and to our proprietary computing systems. Our systems and software have been developed in-house to allow constant market scanning and very rapid execution. The trading platform in Germany, for example, is fully automated and capable of executing complex transactions without human intervention, although we continually review trades for acceptance or refusal in light of current market conditions.
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