DC Energy Trading

I think it's a great shop. Congrats on the gig.

Thanks for the links--appreciate it.

its a great area to live in. great schools, low crime, high income.

Smith,

Are you still at DC energy? If so, Can I pm you?

Onyx

good shop and does good work in the FTR and Virt's space

Anyone know of a similar type of firm in the Houston area? In other words, a firm that is trading performance driven who is not a physical producer or hedger.

DC Energy (among others) is currently under legal trouble as they are being prosecuted by PJM and FERC of engaging in manipulative behavior regarding their engagements in Bilateral Transactions. Essentially they scheduled transactions among themselves and affiliates that would net out their operating reserve charges from virtual trading activity. It crosses a gray area of market rules, while not necessarily breaking any, but may be interpreted as market manipulation. There are current ongoing stakeholder processes to try and close the loophole. http://www.ferc.gov/EventCalendar/Files/20111104143048-ER12-195-000.pdf

While DC Energy has a strong industry track record and some very smart people, I seriously regret joining the Firm.

Before you commit, consider the following: * Think carefully about the repercussions of any non-compete that you are asked to sign and how this agreement could hinder your ability to leave DCE. * Consider whether it makes sense to work at an isolated trading firm in Vienna, Virginia, where you won’t have access to many other nearby energy, finance, or trading opportunities should you desire a change. * Ask about the employees who have simply quit without having another job opportunity lined up. * Inquire about historical growth in the core FTR markets that DCE participates in. * Reach out to DCE alumni via Linked-In for an off-the-record opinion of their time at the Firm and exit opportunities.
* Look at the Firm reviews on Glass Door [especially those posted before today].

Unless you plan to go back to grad school anyway, don’t underestimate the option value that you give up by signing a restrictive non-compete. Best of luck.

energyarb, can I contact you privately? I am not allowed to on WSO since I do not have enough points. I have some questions regarding your tenure at DC. I was thinking about applying there, but would like to speak with you first.

Non competes are used against big money players. If you are not covering seat cost plus 3-5 times that , highly doubt they care. If they do then they have far too much money

DC Energy has an incredibly restrictive non-compete. Some say too restrictive. I've heard it basically covers anything related to energy.

I also heard there was a trader who left DC Energy after 8 months to start the power desk at Jump Trading in Chicago and so DC sued him. Jump Trading really wanted the desk so they did some hand to hand legal combat and Jump won. Basically, the DC Energy non-compete was ruled as way too restrictive.

Though, I've read non-competes don't matter if you go to California where by state statute they are unenforceable and will be nullified in court. I suppose then it is a race to the court house, since states are supposed to respect other state's rulings.