High Freq Shop vs. Traditional Prop shops
Hey all,
So I've come across a range of prop trading firms and I kinda want to split them between high freq. (Getco, Citadel) vs, more typical prop shops like Optiver, DRW, Jane Street. (Yes the latter three probably use some high freq stuff but nowhere near as much as the first two.)
As an entry level junior, which style would you prefer? I get the impression that at the high freq. shops you simply update tried and tested code and earn a fair bit, whilst at the more traditional shops you actually learn to be a trader.
This makes me think a high freq. shop wouldn't value you as much. Just curious in case I'm lucky enough to get multiple offers.
Also, I've heard a lot of negative stuff about Citadel not being collaborative and not paying well , but they've been in the business the longest. Any insight?
Do you actually have offers with any of these firms?
Depends on what you want to do long-term. I'm not aware of a single prop trading firm that's not doing high frequency trading (intra-day or less horizon windows). Perhaps you really want to contrast quantitative/ algo trading versus typical prop?
Are you strong mathematically (probability, stat, etc.) and like doing some programming (C++, Java, etc.)? Then focus on more quantitative/ algo related trading opportunities. MSF programs are a great entry point for this type of role. If not, stick with the more traditional prop trading environment that could be a bridge to the BB's, etc.
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