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Chemical Engineering to Market Making /Trading Career Help
I'm a Chemical Engineering Junior at a top 5 engineering university with a 3.4 GPA (working to get to a 3.5). Working towards math minor and have no more that basic coding experience. After working at a major chemical company last summer I decided industry wasn't for me. I became really passionate...
ETF AMM Trader Assistant Interview - What To Expect?
I've got an interview for an ETF automated market making internship at a major European bank as a "trader assistant." Having never interviewed for a similar position before, I don't really know what to expect in the interview. I've asked around and been told to expect something similar to Citadel or...
Hit a brickwall with prop trading/HFT firms
Hi, I am looking for some advice please. I am 35 computer networks engineer with 2:2 from a low ranking UK university. 2 years ago, I start doing some work learning python/maths and developing trading strategies to learn about quant trading hoping to land a role at a prop/MM firm. I have now applied...
Non-Compete Agreement - Moving from Prop Trading firm to HF
I am currently working at a mid-large size well know market-making company and have been thinking of moving to work at a smaller hedge fund in the southeast. I have networked heavily to find this position...but I have a noncompete to worry about. The non-compete is for 1 year. If I end up leaving...
What's the focus on your trading desk?
I just started a markets analyst program in a local European bank. I find that my current role suits me very well, I'm working on software development for the desk at the moment. During the past week, I tried out sitting on a different desk. There, they had a significant focus on what they called...
How to react to panic during market making interview?
I recently had a final interview with Options MM for quant trader role, and the market making question was as follows: Make a market on number of prime number btw 1 and 1000, spread being 50(which I don't understand why, but just stick to it) -> I divided 10 by 6 & 7, expecting average amount of...
Morgan Stanley E-trading (Fixed Income) vs Options Market Making Firm
I posted it on the S&T forum initially but realized this is a better forum to post it in. I've been offered a position with the e-trading desk of Morgan Stanley as a strat to develop algorithms that have a direct impact on the PnL, and another job as a Quant Researcher in an options Market-Making...
Morgan Stanley E-trading (Fixed Income) vs Options Market Making Firm
I've been offered a position with the e-trading desk of Morgan Stanley as a strat to develop algorithms that have a direct impact on the PnL, and another job as a Quant Researcher in an options Market-Making firm (not one of the bigger ones, but particularly for a region). I am unable to decide...
Aspiring Sell-Side Trader; What MSc program should I take after undergrad.
Hello everyone, As an undergraduate student at a non-target school (studying Economics & Honours Minor in Statistics). I have realized that to get to where I want to go (IR Derivatives Trader at BB) It would be in my best interest to take a master's degree in mathematics, Financial Engineering, Data...
EB RX vs. Market Making
Deciding between full time EB RX (HL/PJT/EVR) vs. Market Making? Which career path would you prefer? What are pros and cons of pursuing either? If you had offers to do both, which would you choose? What are the key factors in your decision? How do you think about the importance of compensation,...
Books for Market making trainees
Next year I'll start as a Graduate Trader at an options market making firm in Europe. I've been looking for educational books that could help me at the job, but most books I've found are too basic, and just go into basic greeks/risk management. Does anyone know some good ones? ty
FX Market Making Simulator
Since TSDemo is offline now, found a new market making simulator. https://astutefx.co.uk/. Would like to hear from people on high scores, strategies, etc. It's kinda interesting that unlike other simulators, it incorporates issues like adverse selection and market impact (tip: watch the news and be...
Questions About Liquidity Provider - Flow of Operations
Hi, I got a question about the liquidity provider's operating model. Really hope if someone can take a look and share some thoughts! ###Scenario: - Say an ETF investor wants to offload a million ETF shares; the investor is seeking multiple market makers to offload the shares and compare the bid/ask...
Equity Derivatives Summer Internship
I would embrace any opportunity to learn about and be in proximity to equity derivatives trading/strategy in an institutional setting. I'm a math major and I have been trading equity and index options (mainly tech stock options, VIX products, and VIX) since volmageddon last February. I am reaching...
market making profitability
Market making has gone through several incarnations over the last two decades. The move from pit to screen trading in the late 90s to early 00s and subsequently automation of algorithms has seen some wildly profitable years for well positioned firms. But in the last few years there has also been...
Market making interview question HFT firm: correct approach?
I am interviewing for the position of trader at a HFT firm (Optiver/Flowtraders/IMC). Part of the interview process is a market making game. I have been looking online for tips for this type of question but I was not really able to find anything substantial. My approach (for now) is very basic and I...
Bulge-Bracket S&T vs Boutique Prop Shops
I just got a summer analyst position at a BB bank and I'm extremely happy with the position. But I was wondering how it compares with smaller prop shops in terms of comp and lifestyle. I know, for example, a first-year at Optiver can make 300k. And this is in Chicago, where the cost of living is...
Market making group exercise
Hi, I have an interview coming up that involves a group exercise, I'm guessing that it's going to be a market making game. Does anyone have any links or resources that show and explain how such a game would work? Thanks
Optimal spread of a market maker
How does a market maker decide his optimal spread on a commodity and what are the risks involved for a Market maker in this business?
Group Trading Game
For an upcoming interview I have a group trading exercise. My understanding is that there will be multiple fruits and a group of candidates as market makers. I have seen similar posts to this on WSO however I can't seem to find anything that explains how this game will actually unfold or what...
Can you explain me market making strategies?
So I was reading a book on markets and there I came across market making strategies. The author mentioned Ratio Trades and Flipping. Though I have gone over them I am still unable to understand. Can someone explain these strategies with examples? Thanks
Market Making & Options
Hi guys, I am trying to figure out market making. I am trying to find the risks that market makers face, what they can do to protect them, and also how to use options to protect them and make profits. Can someone please shed some light on this? Many thanks
FlowTraders Phone Call?
I have a call with a recruiter at this firm coming up this week, sounds like it's just going to be a short fit interview, and more information about their interview process. Does anyone have any experience with them? Or their interview process, at least? Thanks in advance for any insight.
S&T firm for small businesses?
what S&T firms are out there for small companies that have lets say $1 to 3 Million in cash they want to invest? i doubt Goldman or JP Morgan will seek clients of this size, but what about a companies like Cowen , Piper Jaffray , or Needham &co? would the small business still execute at market rates...
Chicago MM Trader to NYC FI Fund Middle Office
I am presently a MM at a Chicago Prop shop and I have an offer from a Fixed Income fund in NYC (AUM ~ $500 Mill) for a Middle office role. I was looking for some perspective on what would be a better career choice. The FI fund could see me transition into a Front Office role within 1-2 years.
Trading game strategy
Hi everyone, my first post here. Apparently there is a trading game that many prop shop like to play to test their candidates all together when interviewing and I just want to find more details about it and see what you guys think is the best strategy here: Suppose that there are 5 people and each...
Making a Market in Peyton Manning
The sports gambling world is remarkably similar to Wall Street market making, and is therefore normally a pretty boring affair. A sports line is set according to the balance between buyers and sellers. Set the line on the favorite too high, and money floods in on the underdog, and vice versa. So I...
Market Making Question
Hi all, I recently had an interview where I had to make a market on the number of computers on the trading floor. After offering my initial bid and ask, the interviewer either bought or sold and asked me to adjust my market. I want to know, is there any more I should be doing other than adjusting...
Future of options market making
One thing that's certain about trading is that the game is constantly changing: the growth of electronic trading, the decline of physical exchanges and the decimalization of option prices all being recent examples. The overall trend seems clear: smaller spreads and greater reliance on option pricing...
How do banks, hedge funds, and prop shops trade/invest?
How do different firms and desks within firms trade/invest? What is their performance? How do they measure their performance/risk/consistency? What is it like to work for them. I'd like both comments about different industries from talking to people and actual experience (you should indicate this in...
Dark Side of the Moon
Hi dudes, Anybody heard of Eclipse Options/have any inside info? Founded by ex- Optiver trader , HK-based, expanding now to Aus Cheers
preparing for prop career
I am a senior at HYP and recently accepted a ft offer for a prop firm in ny that focusses on etf and index market making. I would like to do some preparation in the coming months and was hoping you guys might suggest me some books, websites, etc. I don't want to say where I will be working but if...
Volcker Rule and market making
Volcker Rule aims to ban proprietary trading at banks but they can still do market making. However, market making is a form of prop trading . Does that mean it's not really banning prop trading?
Prep suggestions for FT market making position in Sept.?
I will be starting full-time at a prop shop who focuses on market making where I would be on the trading side (not algo/quant/development-side), and have no formal background in finance but have read up on the technical basics of derivatives trading, etc. in addition to my personal interest in the...
Why market making? What's so cool about it?
Personally, I think market making is much more exciting than just directional trading or speculating. It involves much more risk management, which to me is more challenging and interesting. What are some other reasons as to why you'd do market making over just directional trading or speculating?
Market Making or Front Running?
Thomas Mazarakis, head of Goldman Sachs 's fundamental strategies group, has admitted to some clients that Goldman has both traded on investment ideas before they were presented to clients and taken the opposite side of specifically recommended trades. The latter tactic is very much at the center of...
Capital Asset Exchange and Trading, LLC
Any insights about this firm is appreciated. Thanks. http://www.caeonline.com/
Market Making Simulator
Thought some of you would get a kick out of this, make sure to post your profits. mine: 326 euros Market Making Simulator
Daytrading and Dark Pools - Electric Boogaloo
So this is a pretty interesting article on the inner workings of major market makers and their relationship to the market: Special Report: For Wall Street, dumb money pays http://news.yahoo.com/s/nm/20101217/ts_nm/us_mark… In particular, securities regulators are taking a closer look at the...
trade4size's blog - Working on an equity event driven desk
Starting to get a lot of PMs asking the same types of questions so wanted to start a blog. I am a first year analyst at a S&T boutique on an equity event driven desk in particular I follow risk arb.
virtu financial
Has anyone heard of Virtu financial? It looks like they are a market making firm but does any one have any ideas?
Supplemental Liquidity Providers
Hello, never been to the traders train, usually stick to the other side of the wall. But, I have a question. I was reading this from Zero Hedge: http://zerohedge.blogspot.com/2009/05/observation…- trading .html, and two things stuck out: 1) "The NYSE report that Zero Hedge discussed shows Goldman...
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