London Prop and serious pro traders Coop

[londonkid]

I wonder if there is any interest in professional traders based in London setting up a coop office within walking distance of bank/liverpool street/moorgate area.

As you know the prop model of £800pm desk fee + £500pm platform + other assorted add ons pm = c. £1500pm isnt great value for some. Granted some need xtrader and low latency, many dont.

commercial rent in the area is c.50 sq ft pa (commercial rate not serviced office rate). A 500 sq ft office could house 10 pro traders for around £25k per annum. each trader would sort out their own clearing via broker or remote prop.

What could result is a professional trading environment for £250pm each - real value for each trader.

Developing traders could also participate but I would prefer 50%+ profitable pros, otherwise it could turn into a shit fest.

if anyone is interested pm me and I can start a private thread.

London

 

[just21]

How about W1?

 

[just21]

Contact Oraner at trade2win. It is near Barbican. http://www.trade2win.com/boards/home-trader/204476-desk-space-trading-floor-city-london.html

Desk Space in Trading Floor /City of London
Hi There

A new Trading floor based in the City of London ,offers desk spaces for professionals and independents traders, with all facilities :

Good Broadband , IT support.

TV's CNBC and Bloomberg , Squawk .

Breakout area free coffee/Tea ,

Real-time up-to-the-second news and analysis provided through our collaboration with one of the leading real-time news and analysis corporations globally.

Access to our online virtual trading room, where we hold our morning, lunchtime and end-of-session live briefings from our head of trading.

Collaboration with a global community of traders and portfolio managers whom share information, analysis and trade ideas minute-by-minute through the EU and US sessions.

Integration into the in-house team on an equal basis as our senior traders.

Daily Investment Bank research and analysis.

Daily forecast and micro-macro-economic reports by our Team .

If required, career development, feedback and mentoring from our head of trading.

Access to our sophisticated risk management systems.

Contact me to arrange a viewing .

We Charge only 500/M .

 

[londonkid]

How about W1?

W1 would be ok for me but city of london location is preferred. W1 would put a few valuable people off like the marex/futex/exschneider etc peeps many of whom come into liverpool/fenchurch street. W1 rents are typically higher than the the city.

thanks for the link I will check it. 500pm is viable but the trader in me wants to drive out the value for everyones benefit. I could even set up a limited company and run on a not for prifit basis. Everyone paying monthly subs, any balance left at end of year paid back to traders. Much better than contributing to the profits of a serviced office provider.

I'll pm you

 

[just21]

The barbican price may be negotiable. They started out at £800 on another thread. Www.rentadesk.Co.UK is £300 in Bloomsbury. Search for deskspace on www.Gumtree.com There are a lot of spaces available. There is a Fx place East of tower bridge that I found on Gumtree.

The problem with doing this as a Co op is that you have to finance the empty places until you find people.

 

[just21]

You have to add business rates into your calculations.

 

[londonkid]

yes good points. this company seems to offer good value http://www.beoffices.com/servicedoffice-locations/london-city/cheapside. I believe they will do a 6 - 10 man office for around 300pm per person - see attached.

the serviced office providers tend to be a rip off, there is a 'managed office' option with many where you pay for the room and fit it out how you want. Most traders want a desk 2 or 4 screens and a chair, no need for cabinets/filing/breakout areas.

as you correctly say if you lease somewhere it is much cheaper but then you have to pay 40% business rates and have the hassle of maintenance/furnishing/kitchen.

there are a number of options to get a good deal if people have the need/will to do it.

 

[JTrades]

yes good points. this company seems to offer good value http://www.beoffices.com/servicedoffice-locations/london-city/cheapside. I believe they will do a 6 - 10 man office for around 300pm per person - see attached.

the serviced office providers tend to be a rip off, there is a 'managed office' option with many where you pay for the room and fit it out how you want. Most traders want a desk 2 or 4 screens and a chair, no need for cabinets/filing/breakout areas.

as you correctly say if you lease somewhere it is much cheaper but then you have to pay 40% business rates and have the hassle of maintenance/furnishing/kitchen.

there are a number of options to get a good deal if people have the need/will to do it.

Super-fast dedicated internet with EVERY office (1 Mbps per office)

Could be an issue with 10 traders.

 

[londonkid]

Super-fast dedicated internet with EVERY office (1 Mbps per office)

Could be an issue with 10 traders.

it would def be an issue if people are scalping the DOMs. I am no IT expert but we would probably have to get a couple of dedicated lines in for the scalpers. Personally as long as I am filled in 1 second I am fine as I tend to trade infrequently holding for 30 minutes to several hours. I guess everyone's IT requirements are different.

 

[JTrades]

it would def be an issue if people are scalping the DOMs. I am no IT expert but we would probably have to get a couple of dedicated lines in for the scalpers. Personally as long as I am filled in 1 second I am fine as I tend to trade infrequently holding for 30 minutes to several hours. I guess everyone's IT requirements are different.

Look like it's actually the dedicated minimum, so yeah, should be fine.