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MM Hedge Fund vs Prop Trader
Have been at a MM hedge fund doing equity L/S for 3+ years, but pod recently blew up so have had to look for new jobs. Have offers from other large MMs in similar roles, and also from a big prop trading firm (CitSec/Jane Street/Optiver). How do you think about the differences in...
Equity analyst at a trading firm to MM HF L/S equities??
Maybe a tough nut to crack, but would much appreciate any advice if any experience/insights. Event-driven equity analyst at a well-known EU market-making firm looking to move to a fundamental equities L/S role, is this even feasible? For those that haven't come across, an equity analyst at a...
What happens to market makers creating a market for a PubCo going out of business?
I hate to spread fearmongering given nothing is set in stone, but with FRC potentially being the next big bank to go into receivership, their stock has been heavily sold off and most investors won't touch it with a 10 ft pole. With that said, obviously market makers have to provide liquidity to...
Trading and Beating the Market
Been doing some reading on personal investing lately and that's got me converted to the index investing camp. It seems like in a deep market (equities) with nearly instantaneous dissemination of information, it's nearly impossible to beat the market. I want to say that opportunities to beat the...
Hiring Slow-down in Finance?
Investment banks seem to be doing quite badly recently. I'm interested in a job at a prop trading market making firm and am wondering if they are also having a bad time and the hiring rate may slow down? Or perhaps alternatively the market volatility is something that has contributed to increased...
Mako Trading
Hey Everyone, I was recently approached by Mako Trading for an equity analyst role. The role is mostly centering around general equity research trends to generate actionable equity trade ideas. There also is some thematic report writing involved to understand longer term trends. Anyways, my...
How do Market Makers generate profit?
Just as the header says, I would appreciate a bit more detailed information about how Props shops(especially MarketMakers like Optiver,JS, Virtu, etc) make money. Basically what I thought was that the Profit model of the industry is quite simple: they provide the quote of the bid-ask price, and when...
Dublin quant salaries
From what I can gather, trading firms in London and Amsterdam like Jane Street, Optiver, Flow Traders, ... offer graduates a total compensation that comfortably clears six figures. Does anybody have insight into how the pay in Dublin shops (Virtu and SIG) compares (maybe broken down into base, bonus...
Worried about turnover at prop trading firm
Hello, I recently accepted a graduate quant trader offer at one of the more reputable Chicago prop trading firms. Previously, all my experience had been in software engineering, and I found that the job really didn't satisfy me. I always loved statistics and wanted to pursue a career that seemed...
How equity Market Maker get their inventory? Or short stocks?
Cash assets are more complicated to deal with for market makers, as an initial inventory has to be maintained to be able to short the asset. The other option is to be able to be naked short, in that case the market maker does not need an initial inventory and can be short without cost (as long as it...
Proprietary Trading Later Hiring?
Started an entry level job out of college at a market making firm about half a year ago. Was wondering what the process for entry level lateral hiring might be for quants / quant traders / quant researchers. Should I stay where I am for a year? Two years? before trying to make a switch, or is...
Quant Research at Market Maker vs Hedge Fund
I am interested in maximising career earnings. Which do you think represents the better opportunity, quant research within a market maker (Jane Street, Jump Trading, Citadel, Optiver, XTX etc.) or within a 'hedge fund' (Winton, G-Research, GSA capital, RenTech, DE Shaw) etc. How easy is it to switch...
RE: a question asked of Ken Griffin last week (RE: market-makers)
for someone who doesn't know how all the plumbing works in this process, i had a question about this exchange between Ken Griffin and Rep. Sherman: "Is the Robinhood customer getting the same price as the Fidelity customer?" Sherman asked Griffin. "Congressman, I believe that's an excellent...
Market making exercise - Flow Traders
Hello everyone, I am currently preparing for the case study at Flow Traders. If anyone could shed a light on: 1) What is the usual setup for a market making exercise 2) What are the common questions asked 3) Some general tips on how to approach this 4) Online resources with examples to get used to...
Trading Interview Case Studies
I'm through to the final round for a trading company/liquidity provider which is going to be a case study, I was wondering if anyone had any advice or could point me to resources to help prepare. They've given me a list of things to look into, which I have been, and I've found a few posts on here...
POWERFUL TRADERS' ARCHIVE
Hello Traders! Here is a place of silence, reflection, logic and research ... We are always glad to your interest, questions and thoughts ... We just contemplate and rest after a hard day ...))) Regards, Team Traders "PowerfulTraders"
Trading Vol in an IB - what are the good resources for Rates, Credit, FX, Equities? Market-makers' help greatly appreciated
Hi guys, I'm a junior market maker at a US bank working on a desk close to the vol desk in my asset class. I am very passionate about the Vol side and I have created this thread hoping that it will become a primer about the different resources people should use to learn about vol in different asset...
Details of a Swaps Trader - what do you need to know?
What exactly does an interest rate swaps trader/ market maker, in the long end of the curve, need to know, in terms of the mechanics / math of an interest rates swap? For example, assume you understand the basics of a swap (swapping fixed for floating, and the market convention for quoting each leg...
Call all algo traders...
Hey all, It's been a while but AH is back! I'm specifically looking for algo traders or quants here. I did my S&T internship at a BB , graduated college (Finance) 2012, started full time derivatives trading at a reputable trading firm (market maker), and left in the spring. The more I market make,...
HAP Capital
I'm looking for some more detailed information on HAP Capital : Legit-ness/reputation, work environment, pay scale, products they work with. In particular, I'm not clear about their business model. They're obviously a marker maker/ HFT but it sounds like they also run their own portfolios (not sure...
Scam Science: Chop
Ask any of the older guys at your firm about chop and you're guaranteed to get a chuckle. Chop goes by many other names on the Street (inside, rip, tear, gash, juice, grease, and others too numerous to list) and it is simply excess commission charged to a customer without that customer's knowledge...
RSJ algorithmic trading
I introduce you, RSJ a.s, worlds largest trader in size and volume Largest counterparty at LIFFE, Eurex and maybe in 2 years also at ICE Futures Europe Most people here favor prop shops like Getco or algo traders like RenTech. But none of you ever heard of RSJ a.s Their trading volume exceeds...
Why are most prop firms market makers?
Why do most of the good prop firms have substantial market making operations while almost no hedge funds pursue this strategy? I can't think of any hedge fund besides Citadel that makes markets, while prop shops like Getco , SIG, Jane Street and CTC , are all based around it.
Peak6: where is most revenue from - support services, prop activities or market making?
Just came across this firm, and would appreciate someone clarifying details of their operations. It seems like they're best known in the industry for OptionsHouse and WeSeed. Where do they get most of their revenue from - support services, prop activities or market making? Are they quant driven?
Headhunters for Sales and Trading?
Disclaimer: I already tried the search function. Now... I have heard a lot about headhunters contacting IBD analysts to try to fill Associate roles in PE . How does headhunting work for market makers at a BB trying to move to a HF ? If you could lend some insight that would be awesome. Thanks!
Prop trading firms/market makers in Canada
Just curious -- does anyone know of any legit ones in Canada?
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