+1++yep...
Don
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Bright Trading's new payout model
- Thread starter Maverick74
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+1++yep...
Don
Quote from Don Bright:
Don't get me wrong, I totally understand why GS is doing what they're doing from their side....and that 20 months ago (approx) they quickly "became a bank" when the financial debacle started...they are still some of the smartest, best connected people on the Street. Love them or hate them, don't bet against them.
The liquidity provider smoke screen (LRP's etc.) is subect to the same nightmare form the HFT as everyone else...a different, but hightly relevant point for sure.
Our last Retreat, Aug 1, we had a great follow up presentation from Dennis, our trader who has been doing such a good job of analyzing and lobbying in an effort to level the playing fields again...very optimistic, showed us how such things as "tape reading" (don't laugh, he had great examples) has come back into use big time - setting tickers and tapes to 4 decimial places etc., actually using some of this to our advantage again.
In any event, we're doing our best to keep all our people up to speed, not an easy task...and all is good...but I realize that I am an eternal optimist overall...I like to think "prgrmatic" too...we'll see how all this pans out. Been keeping Bob and I pretty busy, LOL.
Enjoy the weekend everyone...
Don
I'm very much against HFT. Something's going to have to give there.
And, I agree, tape reading may have been a "dying art" in some people's eyes with all of the "technology" we have today, but an art that once mastered pays quite well.
Unfortunately, many prop discretionary traders are "lumped into" the HFT category, so if you have regulation there, u will have regulation here. My guess is since GS is king of HFT, there won't be much regulation happening. Just some minor tweaks to keep the interest groups satisfied.
Quote from LEAPup:
I'm very much against HFT. Something's going to have to give there.
And, I agree, tape reading may have been a "dying art" in some people's eyes with all of the "technology" we have today, but an art that once mastered pays quite well.
interesting. i would have thought they were all based in nyc or ct.
not that you will, but i'd like to see a list somewhere of these true props, see how they're being affected by the volcker rule changes.
not that you will, but i'd like to see a list somewhere of these true props, see how they're being affected by the volcker rule changes.
Quote from Maverick74:
Here in Chicago there are probably close to 40 "true" prop firms. It's not utopia, it's the norm here. In fact, it's harder to find a deposit prop firm here then a "true" prop firm.
it's not star wars yet, if that's what anyone thinks. it's mostly faster execution, and i don't see anything wrong with it if you can invest in the technology, take advantage of the advantage. but seriously, it's barclays, blackrock, jpm, gs, as the major four, and then it's banks all over the globe and hedge funds all running the same algos trying to feed like pilots off the great whites.
it'll balance out when the sec finally gets its act together to level out the latency in it's quoting system.
it'll balance out when the sec finally gets its act together to level out the latency in it's quoting system.
Quote from Lights:
Unfortunately, many prop discretionary traders are "lumped into" the HFT category, so if you have regulation there, u will have regulation here. My guess is since GS is king of HFT, there won't be much regulation happening. Just some minor tweaks to keep the interest groups satisfied.
i know this has been discussed somewhere before, but i'm also wondering how hft. gs, and prop, has been affected by the mass failure and exodus of hedge funds in london.
and if there is a thread or site someone knows of that has a decent source of london props. i only know of a few.
and if there is a thread or site someone knows of that has a decent source of london props. i only know of a few.
Quote from CQNC:
it's not star wars yet, if that's what anyone thinks. it's mostly faster execution, and i don't see anything wrong with it if you can invest in the technology, take advantage of the advantage. but seriously, it's barclays, blackrock, jpm, gs, as the major four, and then it's banks all over the globe and hedge funds all running the same algos trying to feed like pilots off the great whites.
it'll balance out when the sec finally gets its act together to level out the latency in it's quoting system.
Quote from CQNC:
interesting. i would have thought they were all based in nyc or ct.
not that you will, but i'd like to see a list somewhere of these true props, see how they're being affected by the volcker rule changes.
No, in fact, very few are in NY and I can't think of any in CT. A majority are in Chicago and London and here is your list.
http://www.tradersnarrative.com/list-of-proprietary-trading-firms-735.html
I was going to rattle off all the ones on the top of my head but this list is very complete although it does mix in the deposit firms as well.
There is a section below for just the London firms. Only about 25% of these are "true" props. I can't point out the better ones but they have been discussed at length on this forum.
I don't believe the Volker rule will affect them much since these firms are not banks and don't engage in banking activities.
I can point out some of the better firms on that list if you wish.
i believe there exists a golden opportunity to partner with the major brokerages and banks within the prop industry to create a new format of prop firm under the cbsx model that functions more as a hedge fund than this fragmented mess that exists since the assent model.
anyone else who agrees can pm me, as i will be spending quite a lot of time on this the next few months and contributing to these threads often, good, bad, or otherwise.
anyone else who agrees can pm me, as i will be spending quite a lot of time on this the next few months and contributing to these threads often, good, bad, or otherwise.
Quote from CQNC:
i know this has been discussed somewhere before, but i'm also wondering how hft. gs, and prop, has been affected by the mass failure and exodus of hedge funds in london.
and if there is a thread or site someone knows of that has a decent source of london props. i only know of a few.
The www.trade2win.com forum is UK based and discusses the London firms more.
it's grossly out of date from what i can see.
Quote from Maverick74:
No, in fact, very few are in NY and I can't think of any in CT. A majority are in Chicago and London and here is your list.
http://www.tradersnarrative.com/list-of-proprietary-trading-firms-735.html
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