Informal ranking of Chicago prop firms

Quote from dumb_mother:

i interviewed at DRW and the 1st and 2nd round people asked the same logic questions- being sneaky i surely didn't point that out and answered them flawlessly the 2nd time; whereas i had stumbled the first. the next day they called me back and scolded me for not revealing that fact and that was that. you'd think they'd appreciate someone using an edge, wouldn't you?
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What edge? Thinking that a company who intreviewed 100s of applicants would make such a stupid error?
 
Here's my ranking of prop trading firms. most of them are in chicago.

1. GETCO
2. Jane Street (they're in NYC)
3. DRW
4. SIG (offices in multiple cities)
5. Jump
6. IMC
7. Optiver
8. Transmarket
9. Chicago Trading Company
10. Sun
11. Ronin
12. Spot
 
Quote from jjchoi:

Here's my ranking of prop trading firms. most of them are in chicago.

1. GETCO
2. Jane Street (they're in NYC)
3. DRW
4. SIG (offices in multiple cities)
5. Jump
6. IMC
7. Optiver
8. Transmarket
9. Chicago Trading Company
10. Sun
11. Ronin
12. Spot
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Only 15 posts since 2005?

I'm not in the HFT space but I know to stay out of GETCO's way. I'd move Sun above Jane St. and add New Edge, Bump IMC up even with Sun & New Edge and I really have no idea where Chicago is headed now that MOC is dead and TAS is dying.

Any insight?
 
Quote from WinstonTJ:

Only 15 posts since 2005?

I'm not in the HFT space but I know to stay out of GETCO's way. I'd move Sun above Jane St. and add New Edge, Bump IMC up even with Sun & New Edge and I really have no idea where Chicago is headed now that MOC is dead and TAS is dying.

Any insight?
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Yes, GETCO is an amazing shop. They're dominating HFT of equities. Compensation is ridiculous, and very few people ever leave the firm. They're super secretive for obvious reasons. In terms of difficulty of getting a job there, I would say it's one of the toughest places to get into, alongside citadel, de shaw, rentech, and a few other quant funds.

Sun made some notable hires, including one of the main quants from AQR Capital. But their performance hasn't been that great. Jane street is definitely above them.
 
Quote from WinstonTJ:

Only 15 posts since 2005?

I'm not in the HFT space but I know to stay out of GETCO's way. I'd move Sun above Jane St. and add New Edge, Bump IMC up even with Sun & New Edge and I really have no idea where Chicago is headed now that MOC is dead and TAS is dying.

Any insight?
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newedge is a brokerage firm (in refcos old building). they dont trade.


Quote from jjchoi:

I would say it's one of the toughest places to get into, alongside citadel, de shaw, rentech, and a few other quant funds.

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obviously you dont know one of those firms at all
 
Quote from rosy2:

newedge is a brokerage firm (in refcos old building). they dont trade.
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Really? I'm 100% certain that Newedge is an AP and MM in certain levered ETFs - but then again so is Timber Hill and they don't do much trading outside of the Short Desk for IB.

Where is EWT on that list?
 
NewEdge clears in the United States (Soc Gen and CA conglomerate/transformation).

I clientele clearing them, primarily for LME. $3M minimum account size.
 
Update on the Chicago Business Model: empty arcades, no more draw salaries, nobody left who still fades one sigma moves, continue to stack the order book for implied spread markets in the interest rate markets right at the market open - offer 1,000 and get 35 on pro-rata order matching.
 
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