Best Brokers on the Street
Sup monkeys, just wondering who are some of the best brokers on the street? We always talk about BB, MM, and EB overall standings but what about on the brokerage side?
I’m not talking only about equities, derivatives, credit, debt and any other product. Does one specialize in HC and another in industrials and etc? Any input is appreciated, thanks in advance.
Fcstone and rj O’Brien are very well known in the commodities world. They broker (paper and physical), market make, prop trade (Though they might not anymore idk), s and t, trade finance and do consulting but from what I’ve seen most of their business is brokering high touch clients (farmers, processors, etc). Those two heavily dominate niche commodity paper brokering in the United States and do well in larger commodities as well.
Hey man thanks for the info.
Add ED&F Man to that list.
Arguably, ICAP. Tradition, Tullett Prebon.
I used to work for ICAP in the city, so if you have any questions. Let me know.
What’s ICAP like as a culture? What area of the market do they best service? Is it more trading from broker to broker? Like banks to banks, and firm to firm?
When I was at ICAP, I sat on the floor that held cash equities / fixed income. Definitely an old school vibe in terms of personality. It's all relationship business and the most of the brokers are older because they've been in the game for a while now. It's providing brokerage service for banks/market makers/hedge funds/etc... pretty much trades done OTC. It's fast past, loud and a lot of screaming and cussing at each other. Not the culture you'll find if you went to a bank. There is a video floating online somewhere of a broker from BGC flipping shit and cussing and trying to stir a confrontation. You can google it. Pretty much similar culture. It's laid back as fuck. In terms of long career prospect, I don't see it. When I was a hedge fund, we had a junior broker from tradition wanting to join us because he didn't see the broker service expanding, rather the opposite. Which I don't blame him, volume have dried up and although OTC trading won't die, but because of automation and increase of transparency, it's definitely not growing. Hence why ICAP bought out TP a couple years ago and changed their name to TP ICAP. They're in the same building but they actually operate as separate entities to induce competition amongst each other. It's all relationship business and to gain clients, you need to be well spoken, presentable, knowledgeable in the market you cover and you absolutely have to be like-a-ble because you will be taking clients out to gain their business. I see a lot of brokers moving to sale-traders at banks after gaining years of experience.
Hey everyone, I don't know for you, but I did find other goods brokers that are not on this list. Look at this selection made by a famous french trading blog. There are so many more. The reviews are quite complete I think everyone should take a look. All the best
You’re kidding right? Pretty sure he’s not talking about retail fx brokers.
No that isn’t what I was looking for?
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