Trading Options in London.. which firms to go for?

Hi

I'm currently a masters student at ICMA and I'm thinkg about trading once i finish the course, specifically trading options as my part two modules focus on derivatives trading and volatility ... I got a 2:2 in maths at uni so going for the bigger banks is gonna be a tough road (your comments here would be appreciated also..) so thought about some of the prop outfits around LDN...

Does anyone know of any prop firms that specialise or at least trade in options? So far i've only heard about (although I'm only a couple of days into my search) trade in futures - intraday mostly - Is there any firm that trades options or has a bit more mathematical approach - maybe some that specialise in arbitrage or something...

Or is this kinda stuff more the teritory of hedge gunds and algo/quant houses ...?

I just need an experienced trader that knows the firms out there to lend some advice about some suitable places to look given my qualifications etc..

cheers

nick

nickb123 said:

Hi

I'm currently a masters student at ICMA and I'm thinkg about trading once i finish the course, specifically trading options as my part two modules focus on derivatives trading and volatility ... I got a 2:2 in maths at uni so going for the bigger banks is gonna be a tough road (your comments here would be appreciated also..) so thought about some of the prop outfits around LDN...

Does anyone know of any prop firms that specialise or at least trade in options? So far i've only heard about (although I'm only a couple of days into my search) trade in futures - intraday mostly - Is there any firm that trades options or has a bit more mathematical approach - maybe some that specialise in arbitrage or something...

Or is this kinda stuff more the teritory of hedge gunds and algo/quant houses ...?

I just need an experienced trader that knows the firms out there to lend some advice about some suitable places to look given my qualifications etc..

cheers

nick

Click to expand...

liquid capital
optiver
etc..

nickb123 said:

Hi

I'm currently a masters student at ICMA and I'm thinkg about trading once i finish the course, specifically trading options as my part two modules focus on derivatives trading and volatility ... I got a 2:2 in maths at uni so going for the bigger banks is gonna be a tough road (your comments here would be appreciated also..)

Click to expand...

Agreed here - there is so much competition for trading roles that I doubt you will get an interview for an IB unless you have distinguished yourself in some way in your Master's course

nickb123 said:

so thought about some of the prop outfits around LDN...

Does anyone know of any prop firms that specialise or at least trade in options? So far i've only heard about (although I'm only a couple of days into my search) trade in futures - intraday mostly - Is there any firm that trades options or has a bit more mathematical approach - maybe some that specialise in arbitrage or something...

Click to expand...

Try Liquid Capital Liquid Capital - site

nickb123 said:

Or is this kinda stuff more the teritory of hedge gunds and algo/quant houses ...?

Click to expand...

Not neccessarily... but I'm sure some of the others can give you some more suggestions

nickb123 said:

I just need an experienced trader that knows the firms out there to lend some advice about some suitable places to look given my qualifications etc..

Click to expand...

I'd be interested to know too... at the moment I'm looking for a *salaried* trading (or trader's assistant) role so I can get a salary *and* learn to trade. However I expect this is going to be a difficult...

Thanks guys .. I'll check them out

nickb123 said:

Thanks guys .. I'll check them out

Click to expand...

to give u an idea.. i didnt do any math at school or for my degree (majored in philosophy and international relations). i wanted to trade so i aproached he big investment banks, wrote an excellent resume (with lots of help from family friends - MDs, CEOs, laywers etc) and just went for any job i could that was on the floor. got the first one i applied for at one of the biggest firms around. the job was far from great but in less that 7 months i am being groomed for an options trading role. so i would suggest the key is just getting into the right posisiton that will offer exposure to traders - dont limit your scope. once your there it will be fine - they are much more likely to hire in-house as it is so much easier for them - for obvious reasons.

as stated above, the competition is fierce for trading roles. a friend of mine had trouble even getting interviews to some of the specialised options trading hedge funds in london and thats with a few years of options trading experience!

i would say the bottom line (disregarding all of the above) is to put yourself out there and apply and push at every possible angle you can. increase the probability of success. if you present well, offer an impressively constructed resume (keeping in mind i really had nothing substantive to offer in my resume - no job experience other than bars and digging holes!!) and demonstrate your intelligence and, i believe crucially - your absolute burning desire to be in the industry... you should get what you want

good luck with the job hunting

sorry.. in way of a disclaimer - im not in london and my friend having trouble getting interviews is in london!

jimmy1852 said:

to give u an idea.. i didnt do any math at school or for my degree (majored in philosophy and international relations). i wanted to trade so i aproached he big investment banks, wrote an excellent resume (with lots of help from family friends - MDs, CEOs, laywers etc) and just went for any job i could that was on the floor. got the first one i applied for at one of the biggest firms around. the job was far from great but in less that 7 months i am being groomed for an options trading role. so i would suggest the key is just getting into the right posisiton that will offer exposure to traders - dont limit your scope. once your there it will be fine - they are much more likely to hire in-house as it is so much easier for them - for obvious reasons.

as stated above, the competition is fierce for trading roles. a friend of mine had trouble even getting interviews to some of the specialised options trading hedge funds in london and thats with a few years of options trading experience!

i would say the bottom line (disregarding all of the above) is to put yourself out there and apply and push at every possible angle you can. increase the probability of success. if you present well, offer an impressively constructed resume (keeping in mind i really had nothing substantive to offer in my resume - no job experience other than bars and digging holes!!) and demonstrate your intelligence and, i believe crucially - your absolute burning desire to be in the industry... you should get what you want

good luck with the job hunting

Click to expand...

jimmy..at risk of sounding demeaning (which alot of other guys on here have no problem being)..i would suggest that you have a very long way to go if you are asking about delta heging on simple option strategies (and delta neutral strategies) like butterflys etc

for you own benefit..if you are with a big bank and not sure about these things I would start doing some research outside of work and get up to speed quick smart on all this stuff..does not really demonstrate alot of burning desire when you do not the absolute basics..best of luck

If you get a Merit or distinction in your masters and do a Phd, that should make up for for the 2:2 in the eyes of most recruiters. Also, there alot of quant trading roles aimed specifiacally at Phd students.

mmone said:

jimmy..at risk of sounding demeaning (which alot of other guys on here have no problem being)..i would suggest that you have a very long way to go if you are asking about delta heging on simple option strategies (and delta neutral strategies) like butterflys etc

for you own benefit..if you are with a big bank and not sure about these things I would start doing some research outside of work and get up to speed quick smart on all this stuff..does not really demonstrate alot of burning desire when you do not the absolute basics..best of luck

Click to expand...

no offence taken at all. i presumed this was obvious... i did not intend to offer any indication of my level of experience (which i am happy to admit is very low!) within derivs - and the world of finance for that matter. it was simply a post to offer some insight into getting work. i know from experience that it sometimes helps (if not for anything beyond motivation) to know the varying avenues and options open to one when searching for work.

as far as demonstrating a buring desire, i made no mention whatsoever to the length of time ive been in my job (or more specifically - the length of time i have had to become aquanted with the world of options, once i was told a career in this field was a possibility). of course, there is always the very slight chance that im talking to a genious here... but unfortunately i cant learn it all in a few weeks! i only became aware of the fact that i would be going near the world of options a little over 2 1/2 months ago. in that time i have been studying (and have started working on the option desk subsequent to my original post) as much as is possible whilst still holding down 13-14 hrs a day in my other role.

so i take absolutely no offence to your post. it was off topic in a big way but im sure you may have believed it a vaild retort to a post about trying to find a job, or perhaps you wanted to offer some advice to someone you believed needed it. either way and for whatever reason, thanks for taking the time to offer your opinion.

i will reiterate (for the purposes of staying on the topic) that i hope Nickb123 has luck in his search for a job... as landing the right one for the right company can prove difficult

good luck!