Banks with Prop Desks
Hi
can anyone please tell me if many banks still have prop trading desks? And also what is the difference between normal traders in a bank and the prop traders? Do normal traders take some sort of prop risk as well?
Thanks
Davo
UBS London still has an equity prop desk afaik, and DB have a credit prop desk in London as well.
The main difference is that you do not have to deal with clients as a prop desk, therefore you do not have obligations to make prices.
However, a lot of market making desks are prop desks in disguise, as they take on a lot of speculative positions but quote prices as well. I know one EM FX trader who has obligations to quote prices for like 2 hour every day only, and the rest he does prop.
hey thanks for your reply. When you say 'a desk' is it literally just one?
Also what makes a bank better in a certain product than another? I heard DB is particularly good in credit and FX, why is that so? If a bank wants to 'become better' (for the lack of a better word) at a certain product. What can they do?
Thanks
Davo
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