Floor Traders

TradingPilot

TradingPilot

How is it going everyone?

Well im a "n00b" just so everyone knows. I was wondering if anyone here trades grains on the floor. Also I was wondering how I could get involved in floor trading. I would love to be a runner. But the pay is horrid (Minimum Wage?), and I cant afford to earn such low pay because I need to save money for use during the school year.

Out of curiosity how much do you guys pay per month to lease a a full seat on the exchange?

Thank You.
 
Go lease a seat at the mgex or the kcbt, buy one for that matter. They will be bought, especially if the ice does not get the cbot.
 
Quote from bsparkyman:

Go lease a seat at the mgex or the kcbt, buy one for that matter. They will be bought, especially if the ice does not get the cbot.
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Seats on the KCBT are fetching $425-450k. Probably not in the "buying one for that matter" range. I clerk for a commodities broker there which pays well enough (not rock star money, but I can support my family, and I'm learning a lot). I don't know how much they lease for here, but my guess would be $500-1000 a month.
 
Quote from jsl50a:

Seats on the KCBT are fetching $425-450k. Probably not in the "buying one for that matter" range. I clerk for a commodities broker there which pays well enough (not rock star money, but I can support my family, and I'm learning a lot). I don't know how much they lease for here, but my guess would be $500-1000 a month.
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$500-$1000 on a $450K seat? Doesn't sound right.

OldTrader
 
Quote from jsl50a:

Seats on the KCBT are fetching $425-450k. Probably not in the "buying one for that matter" range. I clerk for a commodities broker there which pays well enough (not rock star money, but I can support my family, and I'm learning a lot). I don't know how much they lease for here, but my guess would be $500-1000 a month.
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hey i worked there back in like ohh 1994 as a pit reporter. great group of guys down there. grew up in kc pretty much. actually a little town called odessa. youve probably heard of it. is ther still a value line pit? jim paulson was the broker then...is he still down there? jim gavin...how bout him? just curious. have a great day. jim
 
Old Trader, the seats have increased dramatically in value over the past few years. $500-1000 seems low for a lease for me too, but I asked the people I worked with, and that was their guess. I didn't want to push the issue because agressively seeking out the cost of leasing a seat probably wouldn't look great to my employer :) .

The thing is, some of these old guys bought their seats a long, long time ago for pretty cheap; so, I would bet there are some deals out there to be had.

jim c, Paulson is still here. He's hilarious. Gavin isn't here anymore, don't know what happened to him.

TradingPilot, I had no experience in a markets either, just an econ degree and a lot of customer service experience (one has to be quite diplomatic with folks on the phone at times). Try non-traditional places to apply for clerkships (I work for ADM which isn't a big name in brokerage houses). I also know some local traders will take on clerks, though that could go quite well or very, very poorly depending on the individual trader.
 
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