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This reminded of me a story from the CBOE, a floor MM in the late 80s (after '87) supposed lost around $8-10M in the span of 2-3 days (with his account only have equity around $2M), and then promptly disappeared (rumors of catching a first flight to thailand or something of that sort), leaving...

Before everyone jumps at you for not considering the job at JPM, am I reading it correctly that it is an "operations" job? There is no future in Ops, period. Operations is a fairly deadend line of work. So if that were the case, I don't blame you for not considering the job too seriously...

The list is humongous, Pershing is the largest correspondent clearing firm. what specifically kind of firm are you looking for?

At least they used to, when I was there, but that's 6-7 years ago now, the landscape clearly has changed, we were around $150M, and we were probably the biggest in their NY presence. I would think 10MM would be the start off point now.

I only know a few cases where this level of paranoia is warranted. A trader I know would consistently account for 8-10-12% of the overall daily volume, using a fairly mechanical strategy. So he had attracted a lot of attention from the clearing firm (he hold exchange seats), rumour mills, as...

Not sure about <5M, but < 10M for sure, a guy I know started his fund in '98 with about 6-7M (mostly his own and some family money), now his fund is around 200M. He specializes in small-caps. He is still with BofA (artist formerly known as Montgomery Securities), I believe.

Let me reply in a different way, you posted about this very topic almost 3 months ago now. I will discount the thinking that no job offer will be open for that long. But what is troubling is the fact that you have trouble making up your mind. I apologize if this sounds harsh, but this...

I think as trading gets more analytical, there will be much more successful women traders. I know a girl, she got her phd around '99, when a friend introduced her to me to give her some career advice (about getting into the business, etc), she came into my office, shook my hand and was blushing...

You would have been a perfect fit for BofA securities, since they used to provide office space as well (they got out of the business around end of '05), I was there for 2.5 years around '00 for the fund I was with, but then we became too big for their space. If you can get an intro, Goldman PB...

I believe that eventually sub-penny pricing will happen. But there will still be a natural bid/ask, since there will still be a limit order book regardless if there is a market maker or specialist present. Since MMs are there to "facilitate" liquidity in the market place, if there is already...

Since I develop and run my own automated trading systems, and I am members of a few exchanges, I guess I am biased. Yes, in a way, today's electronic market is all about better models (better quants), faster speed to the market, etc, and people have complained that firms that can afford to...

The exchange time stamps are at millisecond level. Like your system, I have my own pub/sub bus, so I aggregate the exchange timestamp, my own feedhandler timestamp, the admin module timestamp, and feed from a network latency monitor. Then the system compares the differences with a static...

I won't be much help on this problem, since I get my data stream directly from the exchanges. So if I have a quote stuck, then the exchange is experiencing problems (I know, I know, but I trade products traded on a single exchange). I do, however, measure quote latency like a hawk (not the...

Problem is that cross over between trader and developer is getting blurred. Since it is beneficial for a prop desk or a hedge fund for as few people to have access to the code base as possible so that the strategy doesn't leak out too much, so a lot of the quant traders are coding the system...

It also depends on what kind of automated system are we talking about. For instance, one can code up a fairly simple system that pulls data down from Yahoo, and buys stocks based on P/E ratios (I know, I know, but it *is* an automated system), say, buy the 3 stocks with lowest P/E while have...

I am not an expert in Monte Carlo, I was there that one time only. And we had dinner at Le Meridien, which was where I was staying. But I was working for an ibank at the time, so it wasn't my own money.

All kinds of futures and options, from Eurex, LIFFE, to CME and CBOT. sorry for the late reply.

A couple of things (I am a member of a few exchanges), first of all, you won't start off as a clerk (you don't have the background to understand what is going on), most likely you would start off as a runner, one that literally fetches coffee and notes for the senior tranders. Second of all...

I think it depends on your preference. If by commodities you mean futures and options in agriculture, metals, etc, then almost all of these products are still pit-traded, in which you will be at the mercy of floor traders giving you fills. There are clearly good and bad in a product being...

I agree to some extent, writing my own libraries would let me do a lot more customization and tuning than if I just blindly use some pre-built package. But there is another side to this coin, for instance, I found the native Linux thread scheduling inherently inefficient (and Alan Cox...