Interviewed there.

  • not a large firm, like 10 people?
  • Outsource their operational stuff to G2 trading, thinking of doing it in-house soon.
  • Training program is with 1 guy and his one strategy. The strategy is basically look at all the news that occurred overnight, summarize it, figure out some positions based on that news, and make those trades during the day. It is all news/catalyst based. Also pretty much all equities.

  • If you're good you can start trading before the 12-18 months, but two of the partners highlighted that they are really focused on the success of the new guys.

  • Other people in the firm do some options trading and a lot of healthcare stock plays, but that's not really part of the training program.

  • They told me you get 50% of you PnL and a million dollar book after the training program. These may not be 100% accurate unless you are good. Also on job descriptions it says 60k salary during training program.

They say they are very profitable, especially the news/catalyst based strategy that the one guy employs.

I asked them about turnover. They said they have had very little luck with experienced traders who tend to be set in their old ways. They have had 2 people go through the training program who are still there. They say they're doing well.

Everyone there, at least the 3 partners I met at the firm are really young, and dress really casually. They're normal people. Not specifically nice or mean.

-Compared to other prop shops it sounds like the best you can get, like a better version of FNYS, without the brand name though. The partners are ex-FNYS guys though

Any other Q's? I spent about 2 hrs interviewing there, haven't been rejected yet, but I'm pretty sure I didn't get an offer.

 
Best Response

first round, phone, 15 minutes, they just bombard you with Q's

  • Why do you think you would be a good trader?
  • If there was an oil spill in the gulf list all the way you can think of to trade it.
  • List all the financial news you can in the last 2 weeks?
  • How many oranges were consumed in the USA last year?
  • If we gave you a million dollars what would you do with it to make more?

Second round, in person, talked to like 5 people and they give an overview of the

  • Walk me through your resume
  • Favorite/least favorite class
  • How much would you pay for a coupon that lets you buy a 150 dollar coat for 100 dollars?
  • Any news stories you found interesting?
  • If we gave you a million dollars what would you do with it to make more? (asked two more times)
  • Why trading, why would you be good?
  • If IBM agrees to buy ABC Company for 15 dollars, a share, what should it open at the next day? Why might it trade higher than $15? Why might it trade lower than $15?
ddp34:
No probability questions?

No, those are all the questions i remember

 

A few questions:

  1. How do they trade? Do they just put on positions at the beginning of the day and then take them off on market closing? Or do they do longer holding stuff?
  2. Do they primarily look for the super quick-on-your-feet traders, or are they okay with more analytical types who like doing more rigorous research, etc.?

Sorry, I don't quite know how prop trading firms are like.

 

I have a first round phone screen coming up with them and would also like to know more about them. What I do know though is that they are located at:

666 Third Ave New York, NY 10174

Sorry I couldn't be more helpful, but i'm kinda in the same boat as you

 

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