London Prop Trading Firms - Reputation & Prestige

Hey,

I've now been working for a London-based prop trading firm for little over six months.
While I followed the "normal procedure" at uni (interning at several BBs), I went slightly off-piste following graduation and turned down the offer of a master's degree to work as a commodities trader in Switzerland.
I jumped ship a year down the line to return to London and to work in a slightly faster-paced environment, and now trade energy derivatives.

While I'm enjoying the role, even from the inside it's difficult to get a grasp of each firm's reputation / prestige (not least because there's a highly cult-like mentality at a lot of these shops).
I was therefore hoping some of you could shine a light on the main London-based firms: Mandara, DRW, VCMT, Onyx, etc.

I know a lot of these shops have offices abroad, however I'm particularly keen to hear about how their UK operations are perceived.

In addition, I'm happy to answer any questions about my work itself, the lifestyle, and the type of applicants these firms typically target.
I also have a number of less "orthodox" stories I'm sure some of you would be interested to read, so let me know if you're curious!

Comments (18)

Dec 11, 2018 - 11:05pm

prestige is meaningless when it comes to prop trading. all that matters is your P&L and your risk metrics (leverage, sharpe, sortino, max drawdown, p&l volatility, max drawdown in a 10year backtest, ect...)

just google it...you're welcome
  • 1
Dec 12, 2018 - 5:29pm

Very fair point. Do you think majors / the larger trading houses (e.g. Glencore, Vitol, Trafigura) will have the same view should I want to move down the line?

"Work is the curse of the drinking classes" - Oscar Wilde
Dec 12, 2018 - 6:37pm

prop trading (trading futures contracts...CL, NG, ES, ZB, Bunds, etc...) not the same business model as physical trading commodities...not at all.

just google it...you're welcome
Dec 19, 2018 - 3:21am

I'm trying to get an overview of the prop trading industry in London and which firms actually exist since I want to get into the industry. If you could provide a more extensive list than the four names you mentioned I'd be really grateful YoungDumbFullOfRum

Most Helpful
Dec 21, 2018 - 5:22pm

Gave this list to another user:
- Bluefin Capital (multi-asset)
- DRW (multi-asset)
- DV (energy)
- Jane Street (quant)
- Jump Trading (multi-asset)
- Liquid Capital (multi-asset / options)
- Mandara (energy)
- Maven (options / energy)
- Onyx (energy)
- Optiver (quant)
- Tibra (quant)
- VCMT (energy)

Worth noting that, as a Brit, the list is predominantly London-centric

"Work is the curse of the drinking classes" - Oscar Wilde
  • 2
Jan 6, 2019 - 2:09pm
YoungDumbFullOfRum:

Gave this list to another user:
- Bluefin Capital (multi-asset)
- DRW (multi-asset)
- DV (energy)
- Jane Street (quant)
- Jump Trading (multi-asset)
- Liquid Capital (multi-asset / options)
- Mandara (energy)
- Maven (options / energy)
- Onyx (energy)
- Optiver (quant)
- Tibra (quant)
- VCMT (energy)

Worth noting that, as a Brit, the list is predominantly London-centric

Does anybody have any view on DV?? There is precious little online.

Jan 12, 2022 - 1:19am

I'm not sure if they've grown now, but from what I can recall it was an average interview, some competency, some technical. It was a small firm when I interviewed, I'm talking 20+ people crammed into a shoe box sized office. I'm sure things have changed with covid etc. but I didn't get a great vibe. Real life certainly didn't match the online expectations I had. 

  • Intern in IB - Cov
Dec 10, 2020 - 3:34pm

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