I see a lot of talk about proprietary trading in the US.
But has anyone here some info/stories/experiences on prop trading in Europe?
I'm from Belgium. Even in London, friends working there in banks/hedge funds tell me it' s very limited, as this seems to be more of a US type of thing, with no real equivalent here in Europe.
I personally know just one guy here in Brussels working like that : he uses the bank' s money, has total liberty in regard to its trades/markets, and gets 70% of what he makes, although HE PAYS NO COMMISSION. The name he gets here is (in french) "un positioniste" (which would translate as "someone that positions something"). He' s been doing it that way for a while.
He started as a trader of swaps (he was trading DM/FRF), then turned to belgian and dutch equities, to finally get where he is now. He' s more a swing type of guy. I know for example one of his positions is short VOD uk, targeting the 1 pound level.
Just for the story, shorting VOD with the pound as a target must be one of the most played games in town over there in London, as you repeatedly hear about it. It' s also one of the great subject of talk on CNBC Europe : will VOD hit the pound?
Any comments?
tempula_99
But has anyone here some info/stories/experiences on prop trading in Europe?
I'm from Belgium. Even in London, friends working there in banks/hedge funds tell me it' s very limited, as this seems to be more of a US type of thing, with no real equivalent here in Europe.
I personally know just one guy here in Brussels working like that : he uses the bank' s money, has total liberty in regard to its trades/markets, and gets 70% of what he makes, although HE PAYS NO COMMISSION. The name he gets here is (in french) "un positioniste" (which would translate as "someone that positions something"). He' s been doing it that way for a while.
He started as a trader of swaps (he was trading DM/FRF), then turned to belgian and dutch equities, to finally get where he is now. He' s more a swing type of guy. I know for example one of his positions is short VOD uk, targeting the 1 pound level.
Just for the story, shorting VOD with the pound as a target must be one of the most played games in town over there in London, as you repeatedly hear about it. It' s also one of the great subject of talk on CNBC Europe : will VOD hit the pound?
Any comments?
tempula_99