Arcades in Cape Town

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FTSE in mouth

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Hi all

Heard that Marex had opened up a shop in Cape Town. Anyone know if there's any truth to this?

Cheers

FIM
 
there was a recent article in trader monthly and also the ft last weekend about an arcade in cape town - it wasnt marex though, although they were london based - highbury or hampstead i think.

hope that helps
 
Thanks!

Hi CC

Yep, thanks for that. It seems that Mettrader have opened the office and not Marex. Anyone had dealings with MT?

Cheers

FIM
 
i'm pretty sure it was MET that had the south african offices mentioned in Trader Monthly. in fact, I seem to recall them saying they had four offices dotted round SA. MEt are listed in the directory on this site - why not give them a call if you're interested?
 
Rumour has it that the MT is in a bit of trouble in SA. Sigma are in the process of opening an office there....
 
uk has a more favourable tax regime as far as i know.
corp tax 29% and divis obviously less then uk limits
 
I wonder what Sigma will do differently in Cape Town that will ensure their success for the long term as Met Traders couldn't crack it.....
 
FTSE in mouth said:
I wonder what Sigma will do differently in Cape Town that will ensure their success for the long term as Met Traders couldn't crack it.....
Click to expand...

I have heard from reliable sources that Sigma are opening with a crew of experienced traders, as apposed to Met Traders who hired mostly graduates and tried to train them, with obviously limited success. Cape Town is a stunning place and I can see why successful traders would want to move there. The lifestyle is unbelievable.
 
Hi Beaker

Yes, that would make a difference. Having experienced traders with 'outside SA' accounts would help alot. Margining in SA Rands can be quite fun :). Yes, it is an amazing place to trade. I hope they have a good backup power system for the next 3 years of rolling blackouts. I will definitely go and check out the facilities when next back in CT.

FIM
 
Anne Higgins said:
FIM

Did you go over there? What did you think if so?
Click to expand...

Hi Anne

No I didn't make it there as my time in CT was so short. I however have the feeling that whatever problems that beset METraders won't be able to be sorted by Sigma unless they have huge backing and very good margin agreements with the exchanges here....

FIM
 
The Cape Town guys are LIFFE and Eurex traders clearing through Fortis so the margins etc aren't a problem for them.
 
I traded up in the office for 2 weeks in March of this year. There were a few teething problems, but they are getting things sorted. My stint was so short due to me having to clear Fortis - too much red tape, and not enough common sense. Hopefully if they get their act together I will go back up there. Working from home is soul destroying. Anyone know of any other arcades in Cape Town?
 
I've been thinking of creating a "traders office/arcarde" in SA but got told by another that the demand isn't that high in South Africa? I have the full plan layed out but if it won't make a profit then it's no use doing it. I don't know what the one in CPT is like but the type of one I have in mind is combined with a small gym, lounge (wifi access all round), bar etc besides just the trading desks. Would also have a resident psychologist and mentor. However the fee per month would have to be around or over R2,000-3,000 a month. Peanuts if you are full time though. It's just as I said, if there is the amount of traders for that though in SA?

Would a place like that interest you spreadjunkie?
 
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