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A couple of the posters here would be familiar with circa billion dollar books run internally within most of the banks. I'm thinking stock loan baskets, equity basis trading, I suppose some of the option MM hedge books etc. I think they should get a mention, as all alpha, no beta, yet big.

Thanks for the timely response, I look forward to using this functionality :) In my view, being able to get a year of 1s data across an index is especially relevant if you want to use IB for everything, rather than to gradually migrate to competing products.

If a stock changes name, and changes symbol, all historical data prior to the date of change appears to be lost or unaccessible. The new symbol does not have old data and the old symbol is invalid. Where'd the data go?

A lot of banks will run prop algo strategies. You may have to merge your stuff with some client flow in order to sell it. Just find the right bank, or the right group within your bank. Probably best not to mention the bit about trading-on-your-own-account, you sneak sneaky quant :p

Perhaps an example where it, uh, makes money, would sell it better :p

I don't really agree with this. In the 1B range, suddenly everyone wants your flow, and you start to dictate the rates you pay, sometimes even paying less than zero. Your flow makes flow (or so ppl believe). And this opens up a lot of low risk trades that are too tight for other investors, who...

There is a third way. I'm thinking of some of the larger carries that scale into the hundreds of millions. Basically no beta risk. Some sensitivity to rates. Opportunity to run the constrained stuff out of the same book, against held inventory.

Ah, I think you're looking at yield there :p

Seems my experience is not useful for this audience. Good luck guys.

Perhaps you havn't been there - or maybe you are right now. There's a lot of hard IT work in that job that is largely unrewarded. And there is similar pay doing easier IT work or quant modelling / microstructure analysis. My point is that the guy who makes things "fast", does not...

My view is that this kind of work pays, but not significantly better than more fun work, using the same skill set. I have been there, and done this, and don't plan do it again. There is no upside for guys in this role. Just good experience for the young, naive, bright & motivated. There are...

That's not me & nah, no hot tubbing with Taleb. A bit icky for this punter - but don't let that stop you :p

Yeah, yeah. Turn off Nagle's. Think about FPGAs. Yawn.. Long way from trading. Tragic, because this is properly hard work. Easier things to do for 110 in my experience. p.s. Juniors don't deserve duct tape :p

It's not so hard to find these guys. A lot are ex-telco, so, 110k is a step up. Low level network programming and concurrency. Guys who like C. The finance bit is hard to find. But rarely needed.

There are plenty of coders out there who want a shot at HFT work. And so, a lot of competition for these jobs. 110K - 200K is about market, tragically. Good luck garachen.

Yeah, most of that but less spec, more quant.

+1

Overseas. No regulation spoken about. Some tie in to agency business. Directional basis trading, as price maker. TBA.

...and why their customers are retail, rather than hedge funds.

nah.. took 3 months to build here the first time. Less the second time. An expensive local coder makes all the difference.