Voice Brokered Trading
Hey guys, just wanted to know if anyone here has had any experience with pure voice brokered trading (no quant, automation, etc.) and mind sharing the pros and cons of this niche. Some of the concerns I had were the long term viability of this style of trading and if I were to leave, how much of this experience would be transferable.
My 2 cents...voice brokers have been squeezed with the exchanges going electronic, that being said if you are a broker of more illiquid products then it can still be profitable to some degree. The biggest problem is getting deal flow, the older and better brokers have the BSD traders. There's not a chance they will those clients go. For what its worth, when I started trading I got paired up with a newer broker because I did very small size. As my volume has grown the younger broker has been able to reap the benefits and also grow his business.
Sorry, I should have been more clear. I would be on the trading/market-taking side.
Do you think trading in this environment would build experience/skills valuable for other prop firms (in different markets), or would I be basically pigeon-holed into firms that only operate in voice-brokered markets?
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