Why Did Bright Close It's Dallas Office?
- Thread starter Jessica Spears
- Start date
A slightly off-topic thought but related:
A lot of traders have gone the automated systems route since the bubble burst. They really don't need to do much more than to turn it on and monitor for a crash or a software glitch. Who needs an office under these circumstances?
A lot of traders have gone the automated systems route since the bubble burst. They really don't need to do much more than to turn it on and monitor for a crash or a software glitch. Who needs an office under these circumstances?
It seems to be personal choice...some of our guys prefer an office environment, with a room in one of our buildings, a dedicated FIX connection and several people there to "over-ride" at times.
And, obviously, "lone wolf" types prefer to sit in the underwear at home, LOL.
Don
Has anyone opened up a prop shop in Dallas/Fort Worth? Are there any around right now?
Apparently the city of Dallas has outlawed all casinos from entering the city limits which has forced Don to stay out.
Just kidding ole Donny boy.....
Quote from Maverick74:
Apparently the city of Dallas has outlawed all casinos from entering the city limits which has forced Don to stay out.
Just kidding ole Donny boy.....
Yeah, too long a drive to Biloxi from Dallas.
On a serious note, I am adding to the Dallas list of possible office traders. As I mentioned before, we have a trader with an office building there, and he has a few friends trading with us. I only have 5 other names at this point, but keep sending names and contact info to me, either on PM or email to don@stocktrading.com
Nice people in Dallas, it would be cool to have someone open an office for us.
Don
Yeah, we closed Dallas, and other locations years ago. Nothing to do with "success" or anything, simply business decisions. Back in the 1990's we had around 50 locations because it made sense to have a few people in a room to share the costs of the (then expensive) T-1 lines for routing to the Exchanges.
When these expensive leases came due, and technology got cheap (everyone wired at home with cable modem for nearly nothing) - we simply asked the traders if they wanted to share a location, split rent etc. We didn't want to be in the Real Estate business. A few chose to stay open for few years, some still are, most are closed.
This filtered into our more collective and inclusive remote set ups. Every trader is online with their manager, mentor, (me?) during the trading hours. We do our Morning call pre market, Tuesday Talk twice a month etc.
I like Dallas and Houston, go back often to meet with people. On a side note, Texas was tough because of (in part) the so called "SOeS bandits" - left a bad taste with the regulators.
I think we have about 8-10 locations. A few affiliates in the planning stages. Hope to be back to Texas again at some point.
Don
When these expensive leases came due, and technology got cheap (everyone wired at home with cable modem for nearly nothing) - we simply asked the traders if they wanted to share a location, split rent etc. We didn't want to be in the Real Estate business. A few chose to stay open for few years, some still are, most are closed.
This filtered into our more collective and inclusive remote set ups. Every trader is online with their manager, mentor, (me?) during the trading hours. We do our Morning call pre market, Tuesday Talk twice a month etc.
I like Dallas and Houston, go back often to meet with people. On a side note, Texas was tough because of (in part) the so called "SOeS bandits" - left a bad taste with the regulators.
I think we have about 8-10 locations. A few affiliates in the planning stages. Hope to be back to Texas again at some point.
Don