Pros
The best reason to work at PEAK6 is to use it as a place to start. Future employers view surviving PEAK6 as an accomplishment. It's a great place if you don't mind stepping on people to get what you want. That's not meant in a disparaging way, it's simply the truth. Some people thrive in this type of setting, others do not. If you're a quiet professional that does your job, this place is not for you. If you like making sure everyone knows what you're doing and you don't see anything wrong in taking credit for what others do, you will succeed here. The guy on the Scottrade commercial is a perfect example of management here. They have great benefits...if you're allowed to use them.
Cons
Get everything in writing. "Discretionary bonus" means exactly that. Don't listen to what anyone in management says or promises. If it isn't in writing it isn't going to happen. Even having it in writing doesn't guarantee it's going to happen. Trust no one. They also like to spend money on random experiments, like the retail businesses, while not recognizing that people's lives and careers are at stake. Definitely a 'let them eat cake' view of us employees by senior management. The feeling is that you're not needed, and you're not. Don't expect a kind word, ever.