Recent content by bambouk

Pretend you want to sleep with them (can be difficult) but replace all terms relating to sex to those relating with trading and making money. Provided you can be convincing in the former, you can be in the later.

It'd be like DRW. They also stiff people in the first year quite hard, bonus too, and then reward and get responsibility on people later. Payoff for doing this is that they train people longer, and get them to do random assistant work for longer. They don't end up with the situation at say...

At least London. Probably near internationally. There are exceptions like Moscow where their entire Russian unit got headhunt lifted into another local Russian investment bank for example.

All numericals are just a case of practice. And numeracy in general, is the same skill re-applied.

Yeah... expect a numerical test... The wholesale traders presumably make quite a bit less than the deriv ones in bonus. Base is all very similar in everything anywhere. Base is just... meaningless.

The fine is capped at 3 million USD since it is a function of the unfair profits made.

DB have been on a near complete hiring freeze for quite a while. They've recruited out of their interns only.

I can confirm from people who are at Optiver in Amsterdam about salary. It is about 33k base. Another month is thrown on as some sort of odd Dutch tradition (about 3k on top then). There is a minimum bonus of 25k for surviving (and the churn rate is about 50% of the new guys) and then a...

Have heard from people who were offered a job at liquid that the salary was so terrible, they'd rather hold out. Salary aside, it seemed that people would be doing fairly lengthy periods of assistant work rather than anything really involved in trading and making money.

MD at a bank is a near minimum of 7 years of experience. You only see a few people in props who have been around that long and since both are making most of their package on equity ownership, it's hard to compare. The successful props will have hardly been dented by the equity market downturn...

Since Optiver has been so relatively topical, Optiver partners are supposedly on a minimum bonus of 1.5m euros and head traders are presumably partners. I doubt there are any at Optiver who have taken the 45m euros that say Ben-Brahim would take from GS etc. but I think you are being rather...

Heh, although Optiver have their own legal problems. Bloomberg.com: Worldwide

Someone called 'whateverman' had posted on this thread... and it contained a link to the following: Optiver Australia Pty Ltd v Tibra Trading Pty Ltd [2008] FCAFC 133 (21 July 2008) Which in a nutshell says that Tibra, which is founded and run by a bunch of ex-Optiver people, need to allow...

Wholesale probably refers to the Deutsche Bourse idea of 'wholesale' ie. broker market. While other traders are doing the exchange traded 'on screen' trading. Probably quite some effort made in arbing between the two pools.

Few traders get a genuine fixed % of P&L. Especially at the top end in the banks - it's a little more bit excessive and sets poor incentives relative to risk.