DC Energy Trading
Has anyone ever heard of DC Energy. Just got a role as an associate and was wondering if anyone had any insight.
What are some good books/sites to check out for energy trading.
Has anyone ever heard of DC Energy. Just got a role as an associate and was wondering if anyone had any insight.
What are some good books/sites to check out for energy trading.
Career Resources
http://www.amazon.com/Trading-Natural-Gas-Futures-Options/dp/0878147098…
http://www.amazon.com/Energy-Trading-Investing-Management-Structuring/d…
http://www.amazon.com/Electricity-Markets-Pricing-Structures-Economics/…
That should cover the basics. You should learn the rest on the job. I wonder how you got the job if you, I assume, don't know much about the energy markets
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
Can't post links, but Google "EL12-8-000" and sort by date to see the latest filing, and also goto PJM website-> Issue Tracking -> Balancing Operating Reserve Netting Rules to follow the stakeholder process.
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.
DC Energy? Interview/Info on the firm? (Originally Posted: 11/07/2009)
Have a phone interview with DC Energy coming up next week, anyone know anything about the firm, or what to expect in the interview? Thanks!
80k base is not a bad way to start working particularly in D.C. Good luck.
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What kind of a case did they talk about ? They are definitely not a typical trading-oriented prop. firm.
Thanks.
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Their website and interview process do not give me the impression that someone who is really interested in trading would want to work there. However, I have not interviewed with them, so I could be wrong about that. Did you get the same impression from them in your interview ?
Do you have any information on their payout structure ? (i.e. is it base salary + bonus or just salary...)
Thanks again.
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you an MSF from princeton and didn't get an offer? Isn't that program the "ultimate," MSF?
Heard of "DC Energy"? (Originally Posted: 12/06/2007)
Have you heard of this shop? What do you know about it? I've checked out their website already.
Yeah, very small firm, spun off of Dean & Company, a consulting firm. Definitely a "different" place. What do you want to know?
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