Splits....

mauzj · Nov 5, 2008

Hi,

I know this has been asked before, but I believe that the industry has changed a lot lately and arcades are fussier about who they'd take. So...

How tough is it for an experienced trader to get a seat at a London arcade? I've grossed over EUR500k this year with no down months. From what I've heard, arcades are getting rid of marginal traders and concentrating on successful ones. I have no idea how I stand against the average local.

What sort of split would I get if I deposited £50k in an account at an arcade? I was offered 80% last year. I don't want to go asking around yet which is why I'm asking here.

Mauzj.

Directional · Nov 5, 2008

If you're putting your own money down, you should get 100% of profits??

Thats how it was at Marex when I was trading my own cash there,anyway.

RogueTrader888888 · Nov 9, 2008

You can probably negotiate up to 90% with your track record, then even eventually get it to 100% if you are doing a crazy amount of roundtrips.

DC STOXX · Nov 11, 2008

Arbitrageur said:
If you're putting your own money down, you should get 100% of profits??

Thats how it was at Marex when I was trading my own cash there,anyway.

I guess it depends if they then leverage that 50k or not. If they don't, then 100% surely?

arabianights · Nov 11, 2008

Yep if it's your own money then you should get 100% split

Directional · Nov 11, 2008

Marex were giving me 5:1 buying power, on 100% payout. I dont know if they are working to the same parameters in the current conditions as many firms are tightening the margining requirements of late.

DC STOXX · Nov 11, 2008

Arbitrageur said:
Marex were giving me 5:1 buying power, on 100% payout. I dont know if they are working to the same parameters in the current conditions as many firms are tightening the margining requirements of late.

So as well as giving you a 100% split, they also leveraged you 5:1 on whatever you put down. Pretty sweet deal imo

Directional · Nov 11, 2008

That was intraday only though, full margin applied on any overnights.

Parky · Nov 17, 2008

Mauzj,
You should be able to get 100% based on 50,000 however it would be based on your risk profile.
A good trading room will aways look at the size of position you want intra day and if applicable overnight, the contract you are trading and the financial limits you want on a daily basis.
Risk is bespoke, just as no two traders are alike so no two traders risk profiles are the same.
At Xconnect the risk manager works with all the traders in a proactive way and that is the same for self financed traders as it is for backed traders. After all it is in everyones interest for traders to be successful!

crude_lover · Nov 17, 2008

Parky said:
Mauzj,
You should be able to get 100% based on 50,000 however it would be based on your risk profile.
A good trading room will aways look at the size of position you want intra day and if applicable overnight, the contract you are trading and the financial limits you want on a daily basis.
Risk is bespoke, just as no two traders are alike so no two traders risk profiles are the same.
At Xconnect the risk manager works with all the traders in a proactive way and that is the same for self financed traders as it is for backed traders. After all it is in everyones interest for traders to be successful!

Do Xconnect still exist ? or have they taken on a new name

Directional · Nov 17, 2008

I thought I'd heard they had merged with Elite Derivatives and named the company "Edge" or similar, though I can't see anything on Elite's website, and I'm not even sure if XC have a website...

crude_lover · Nov 17, 2008

Arbitrageur said:
I thought I'd heard they had merged with Elite Derivatives and named the company "Edge" or similar, though I can't see anything on Elite's website, and I'm not even sure if XC have a website...

yeah i did a quick search on here and one post said that they had merged with elite derivatives then another said XC is now sigma Derivatives

mauzj · Nov 17, 2008

Parky said:
Mauzj,
You should be able to get 100% based on 50,000 however it would be based on your risk profile.
A good trading room will aways look at the size of position you want intra day and if applicable overnight, the contract you are trading and the financial limits you want on a daily basis.
Risk is bespoke, just as no two traders are alike so no two traders risk profiles are the same.
At Xconnect the risk manager works with all the traders in a proactive way and that is the same for self financed traders as it is for backed traders. After all it is in everyones interest for traders to be successful!

What sort of split would I get if I need margining arond EUR 500k?

Parky · Nov 18, 2008

Xconnect is not, nor was it ever Sigma, Sigma started life under Xconnect's infastucture and then branched out on its own. Xconnect is very much alive and kicking. Elite and TTR go to market as Xconnect using Xconnects exchange memberships although all are still independent trading groups in their own right.
I am assuming you are looking for Eur 500,000 intra day? It really would depend on if this is for naked long/shorts or spreads and what contracts etc. Best to go and see them.

crude_lover · Nov 18, 2008

Parky said:
Xconnect is not, nor was it ever Sigma, Sigma started life under Xconnect's infastucture and then branched out on its own. Xconnect is very much alive and kicking. Elite and TTR go to market as Xconnect using Xconnects exchange memberships although all are still independent trading groups in their own right.
I am assuming you are looking for Eur 500,000 intra day? It really would depend on if this is for naked long/shorts or spreads and what contracts etc. Best to go and see them.

ah ok so now elite and ttr are pretty much xconnect, who are ttr i know of elite but never heard of ttr. And im guess that means xconnect are basically based in the same building as elite now

Parky · Nov 18, 2008

crude_lover said:
ah ok so now elite and ttr are pretty much xconnect, who are ttr i know of elite but never heard of ttr. And im guess that means xconnect are basically based in the same building as elite now

No Elite are based in Tower 42, Xconnect are based in Old Jewry and TTR are based in Gibraltar.

Splits....

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