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What are the steps and compliance to start our own prop trading firm (commodities)
I've been very curious, if one has to start his own prop firm mainly in commodities, What are the compliances and rules I've to adhere, And what are the profit sharing ratio to their traders. Taking the reference of some of big market makers (Dare, onxy). Its mind blowing to see with few employees...
Equity Research at IMC Trading vs JP Morgan
Dear All, I am currently working at a leading US bank as an equity research associate. I've recently received an offer from IMC Trading which is just setting up their office in the country. Ultimately if I want to move into buy side roles which should i choose ? a) stick to current role and look for...
Equity Research analyst IMC Trading vs US Global bank
Dear all, I am currently working at a leading US bank as an equity research associate. I've recently received an offer from a competitor of Optiver which is just setting up their office in the country. Ultimately if I want to move into buy side roles which should i choose ? a) stick to current role...
How to tell which prop shops are more research focused and which are more trading focused?
Currently recruiting for roles at prop shops and some shops are placing more emphasis on research and want Master's or PhD students to pursue these roles and are offering higher salaries for Quant researchers than traders. Some shops offer traders higher salaries. How to tell which of the two roles...
Proprietary Trading Learning Resources
Good afternoon everyone, I recently became interested in proprietary trading and I would like to learn more about it, however, I have been having trouble finding thorough information online about different roles in a proprietary trading firm, types of trading, strategies, and I was wondering if...
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Dublin quant salaries
From what I can gather, trading firms in London and Amsterdam like Jane Street, Optiver, Flow Traders, ... offer graduates a total compensation that comfortably clears six figures. Does anybody have insight into how the pay in Dublin shops (Virtu and SIG) compares (maybe broken down into base, bonus...
Aspiring Sell-Side Trader; What MSc program should I take after undergrad.
Hello everyone, As an undergraduate student at a non-target school (studying Economics & Honours Minor in Statistics). I have realized that to get to where I want to go (IR Derivatives Trader at BB) It would be in my best interest to take a master's degree in mathematics, Financial Engineering, Data...
How would you design a "Trading" Competition that tests University students on quantitative skills?
I am currently the President of my University's Trading club and I'm looking for ways to help make the club more exciting than just discussion, networking, and education. I want to be able to come up with a competition/competitive event for teams of individuals to compete to test quantitative...
Can You Continue Prop Trading After Declaring Bankruptcy? (Proprietary Trading After Filing for Chapter 7, or 13)
Will prop trading firms allow you to continue trading after you have declared bankruptcy? You are required to report bankruptcies on your form U-4 to the firm you work for, so if you declare bankruptcy, then will they still let you trade?
Prop trading university
Ik university matters a lot less for prop trading than you as an individual candidate and your own skills and that further more actually getting in is incredibly hard. Typically, if you're a winner and you're good enough you should break in from xyz regardless. That being said I know that in the UK...
proprietary account individual
Hello; can anybody advise on opening Individual PROPRIETARY Say Trading account. I m us citizen Called many broker dealers, the do not know about proprietary accounts Where can i open it? just need larger margin Stocks only, no O/N positions, ability to trade with Black Box Pls advise Thx Boris
Please suggest some reliable proprietary trading firms
I see some trading firms asking good amount of money upfront for training with no guarantee that you will be hired as a trader. So please suggest some who are genuine
Columbia Econ-Math Degree Opinions
Hi guys, I'm a high school senior EDing to Columbia. I saw that they offer an Econ-math major (think it's different from a dual major), and was wondering if anyone knows how it's reputed on the street, esp for global macro funds and prop firms (I know! Very different). Thanks!
Which quant prop shops/ hedge funds offer summer internships?
I'm a rising junior at a target for quant work, and I'm looking to apply to proprietary trading firms and quant hedge funds in Chicago and NYC . I have a list of some places I'm interested in (in no particular order): 1. Jane Street 2. Old Mission 3. Five Rings Capital 4. Two Sigma 5. Citadel 6. DE...
Where did the Investment Bank prop-traders go?
Greetings - About a decade ago I worked on a proprietary trading floor at a major investment bank. Since Dodd-Frank it's been my understanding that the proprietary trading actions have been shut-down and now all trading is basically flow trading. A few questions: * Did Dodd-Frank really shut down...
Equity Derivatives Summer Internship
I would embrace any opportunity to learn about and be in proximity to equity derivatives trading/strategy in an institutional setting. I'm a math major and I have been trading equity and index options (mainly tech stock options, VIX products, and VIX) since volmageddon last February. I am reaching...
Hedge Fund at trading desk
Hi Wall Street Oasis, For a trader at a sell-side desk, able to take prop positions, at what point would he be considered a PM-equivalent at a hedge fund? Specifically, what are your thoughts on: 1. He can prop trade max size US$100mio, say US$2mio or 2% annual SL. So can he call himself a PM with a...
How hard is the move from BB to Boutique for S&T
I secured a summer analyst role at a BB for S&T , but am flirting with the prospect of joining a boutique full-time, particularly those with prop trading. I currently attend UChicago and was wondering if this move is common, or is it extremely hard to do. I understand that prop trading firms tend to...
GS SSG Multi Strategy Investing
Hi guys - I was wondering if anyone knows anything about Goldman's SSG Multi Strategy Investing arm? There is quite a bit of information on WSO pertaining to other less liquid arms (asset investing, private capital) however MSI has not been discussed. It would be interesting to know what strategies...
Opinions on IMC Trading
I have an offer from IMC Trading, and I'm trying to figure out if I should take it. I'd be working as a software engineer, not a trader. In general, I think I'm too risk averse to work as a trader, but I still think finance is very interesting. My other offer is at Microsoft/Amazon/Google, so more...
Quant Prop firm vs. Chop Shop
I think this question may seem like a no-brainer to many on this forum, but I would still really like to hear some outside opinions - I have two offers from proprietary trading firms. One is focused on quantitative analysis in order to minimize risk. I would be paid a starting salary here, but most...
Make a market questions with a twist
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Has anyone had any experience with Maverick Trading (prop shop)?
Has anyone had any experience with Maverick Trading (prop shop)? I have been trading for 3 years on my own and am interested in becoming a funded trader. Any experience or strong advice would be helpful.
Seeking advice on Development (Prop Trading)
Greetings Monkeys, I have been hovering around this topic on my own over the past few months, for reasons you will get introduced to further in the post, and have not had much of a chance to discuss it with other people from the industry as I do not really know many Prop Traders outside my firm....
From a shitty Prop Trading firm To top HF?
Hey Guys! I'm planning to join a shitty prop trading firm with my capital allocation, and will be getting series 57, 20:1 leverage (which is most important thing for me). Gonna be working for 9 months until I graduate and will see where I can go. But where I can go? If I wanted to go to Top tier...
PnL% of Prop Traders?
Does anyone have any insight into the range for the PnL of prop traders? Such as the minimum before you get sacked, the average (likely) PnL, and what a stellar PnL looks like. Or even if someone knows what sort of returns prop shops would salivate over should I cheekily attach my trade history with...
Do Any Banks Still have Prop Desks?
Just wanted to start a discussion around bank prop desks and whether any parts have survived. I've heard that some banks have moved parts of their prop desks into their treasury/liquidity/funding desks ie London Whale. Is this true across most of the BB's as a core function? or is it more adhoc? Did...
Top Prop Trading Firms 2016 - 1st Quarter
It would be interesting to note the best and biggest PTG firms : 1) DRW 2) Optiver 3) IMC 4) SIG 5) Jump Trading 6) KCG Continue the list.
Exceptional Personal Investor Wants to go Professional
My personal trading account: 2012: net capital gain was $39,947.11 in short-term transactions using around $60,000. 2014: net capital gain was $79,870.28 with a cost of $74,034.90 based on a long-term hold initiated in 2012. I simply held my position in 2013 without buying or selling. 2015: net...
Exceptional Personal Investor Trying to go Professional
My personal trading account: 2012: net capital gain was $39,947.11 in short-term transactions using around $60,000. 2014: net capital gain was $79,870.28 with a cost of $74,034.90 based on a long-term hold initiated in 2012. I simply held my position in 2013 without buying or selling. 2015: net...
Any stories of Hedge Fund -> Prop Trading?
It seems getting TO a hedge fund is held up as the holy grail of career paths around here, but I'm curious if the hedge fund to prop trading path ever happens. Working in the quant/research side of things for going on 3 years now, there's a lot of interesting alternate quantitative (non-market...
CFT by the IFTA (International Federation of Technical Analysts)
Hello everyone,
Soc Gen/Lyxor Trading Assistant Internship
I'm interviewing soon for the Trading Assistant Internship on the "event-driven/merger arbitrage proprietary trading desk." Any advice? Is there a certain personality type companies look for in traders or are technical skills the most important factor?
Hello Everyone. - People with experience
Hi, I'm Brendan. I'm a 20 year old econ major currently studying in Tokyo. My dream is to break into the business somewhere in Southeast Asia (Singapore, etc.). I'm a sophomore at the moment and have had a few internships, but I'm really eager to learn more about the business and would be very...
How do proprietary traders come up with trades?
I was hoping someone could explain this to me. I understand how say, a hedge fund comes up with its ideas, a long-short fund does fundamental research and comes up with a potential trade. But how do prop-traders do this? My perception of a prop-trading is that they're doing hundreds of trades each...
CS Student Interested In Trading - How to Prepare for Next Recruiting Season?
I've been browsing around this site for a while and its about time I reach out for some suggestions. I am an undergrad sophomore in CS at a top 5 CS school with a 3.9+ GPA. I have secured a software engineering internship at a prop trading firm/quant fund, although I've had a growing interest in...
Jane Street Final Round - What to Expect
After going through the interview process, the OP shared the final round interview experience with readers of WSO. Check it out below. Jane Street Capital Interview Process Before the interview I went through five phone interviews before they invited me down , and I think they would have kept going...
TransMarket Group Onsite Interview
I just got invited to the on site interview, and was wondering if anyone knew what to expect? They indicated it will be a 7-10 hour technical\personality and fit interview. Any tips on how I should prepare? So far I have had an hour long math\finance\brain teaser interview (contrary to another post...
capital contribution at prop firms
I was wondering, at some prop firms, how it often works with the "capital contribution." One firm I recently interviewed with would want a 7000 capital contribution for ~95000 in an account. Others, smaller, some more. If I were to join such a firm, under what requirements would I be to refill, or...
Deutsche Bank star trader Christian Bittar
did you hear from this Deutsche Bank prop trader Christian Bittar who is believed to have been paid 80 million € (so more than 100 million dollars) in 2008? he was meanwhile laid off and is now at bluecrest. are salaries like that often in prop trading ? I mean, everyone knows gregg lippmann and...
Walk in Proprietary trading Firms?
Are there any proprietary trading desks that would allow anybody to just walk in and trade with their own money? If there are, what kind of leverage do you think they would give you? Im asking because it's impossible to get in a firm without Yale, MIT, or Wharton labelled somewhere on you. -Logan...
Unique background, what is my best path into wall street?
Graduated from a California State University school with a 3.57GPA last week, degree in Econ. Took 4 1/2 years to graduate instead of 4 because I switched from biotech to econ 2 1/2 years through. I have no financial internships due to not being eligible due to my immigration status(now eligible). I...
Recent Graduate Resume Review
I graduated last week from a California State School(3.57GPA) looking to land a job in a prop trading firm, big bank, or perhaps venture capital. I don't have the fancy internships many here do, due to my immigration status, I was not eligible for financial internship and had to work to put my way...
Starting out in trading! Aurelia Traders? Worth applying??
I'm roughly 1 month out of finishing my Masters degree and looking to get into Trading. At the moment I'm applying to open vacancies, January/immediate start internships and sending some speculative emails. The applications have been sent to the trading arms of larger investment banks ( UBS , JP...
Headlands Technologies Interview
I got an interview coming up with Headlands Technologies. Does anyone have any experience interviewing with them (process, types of questions, etc.)? I'd imagine it to be more on the computational side of typical HFT interviews, but not sure. Since they're new there's little to no information about...
Trading Record Translating to Job
The purpose of this post is to list trading metrics that potential proprietary firms and hedge funds may find useful when examining ones trading success and a potential hire. This by no means is the holy grail, but rather the purpose is to list some for others out there and hopefully so we can...
trading clerk/assistant + hardwork = trader?
First I'd like to thank flake, sxh6321, Kenny_Powers_CFA, pacman007 for responding my first post at WSO . So yesterday I got another job from a different headhunter and this time it's for trading clerk/assistant at JSC. After a bit online hunting and talking to people, seems like almost nobody...
Prop Shop Scam
A note to those seeking a junior trader position. Though this is likely not news to most of you, it might be for those who will be graduating in the next few months or who are desperate for a job on Wall Street. Some (key word here) proprietary trading firms, namely those that ask for a deposit, are...
Prospects of Being Hired at a Top Prop Firm
Hi, what are the chances of being hired by a top proprietary trading firm such as JSC if you are a graduate of a non Ivy League (or Ivy League comparable) university with a strong business school (ex. UC Berkeley, UCLA, UT Austin, CMU) and have a good GPA (>3.5)? To clarify, will any of the top...
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