Firms similar to IMC, Optiver, All Options, Tibra

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KnifeEdge

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I'm currently looking for an entry level trading position and was wondering if anyone can tell me what other firms are similar to IMC, Optiver, All Options, and Tibra in terms of company structure, business model, product focus, etc.

I'm interested in this type of firm as opposed to pure performance based payout firms which require risk capital and would greatly appreciate if you guys could help me out. Another consideration is geographical location as firms like these tend not to look at candidates without the required work authorization (I'm Canadian/Hong Kong citizen).

Its very hard to find a comprehensive list of proprietary trading firms and gather information about them. I've found a couple lists online but was hoping the members on this forum could provide their insight.

Thank you all in advance.
 
KnifeEdge said:
I'm currently looking for an entry level trading position and was wondering if anyone can tell me what other firms are similar to IMC, Optiver, All Options, and Tibra in terms of company structure, business model, product focus, etc.

I'm interested in this type of firm as opposed to pure performance based payout firms which require risk capital and would greatly appreciate if you guys could help me out. Another consideration is geographical location as firms like these tend not to look at candidates without the required work authorization (I'm Canadian/Hong Kong citizen).

Its very hard to find a comprehensive list of proprietary trading firms and gather information about them. I've found a couple lists online but was hoping the members on this forum could provide their insight.

Thank you all in advance.
Click to expand...


no
 
Hey KnifeEdge...

Better late than never. Based on the above names I think you are referring to Market making firms trading with their own capital. There is a ton of them out there, however they tend to keep very low. The names in US I can think about are: Chicago Trading Co., Wolverine, SIG, Peak 6, Ronin, Spot Trading,DRW, Liquid Capital (London based).. The list goes on.
 
top prop firm and their start salary:
Salary in USD
Chicago:
Transmarket Group - 60k
Group One - 42-50k (+5k sign-on)
CTC - 65k (+ 5k sign-on)
DRW - 60-65k (+ 5k sign-on)
Optiver - 80-85k+

Philly:
SIG: 50-60k

New York:
Jane Street - 60k (+ 60k year-end)
FNYS - 60k
Trillium - 26k

Salary in AUD
Optiver is about 100,
tibra about 100,
susquehanna about 90,
IMC about 90,
Liquid about 85
 
nus0825 said:
top prop firm and their start salary:
Salary in USD
Chicago:
Transmarket Group - 60k
Group One - 42-50k (+5k sign-on)
CTC - 65k (+ 5k sign-on)
DRW - 60-65k (+ 5k sign-on)
Optiver - 80-85k+

Philly:
SIG: 50-60k

New York:
Jane Street - 60k (+ 60k year-end)
FNYS - 60k
Trillium - 26k

Salary in AUD
Optiver is about 100,
tibra about 100,
susquehanna about 90,
IMC about 90,
Liquid about 85
Click to expand...

that's probs experienced applicants only not just graduate starting
 
guys - question for everyone.....i read a post on the amsterdam trader blog site - and have always wanted to know for myself. I copied what the dude wrote below - any thoughts??

http://www.amsterdamtrader.com/2009...howComment=1260788332298#c4687794809871474555

"I am a trader for one of the US banks and have always wondered how much pnl mkt makers can generate. I actually started at Optiver 10 years ago but only for a year before going to an IB - from memory back then an acceptable P&L was somewhere between 1-2m for a relatively senior guy trading 2 or 3 single stocks. Does anyone have any colour on what you are expected to make and what you get paid? Reason for asking is i have a feeling that you guys are being paid way more than the vast majority of the bank traders (yes there are exceptions, and bonuses for bank traders will have a larger dispersion) and you get to sleep a whole lot easier than anyone with any sort of risk on. As for numbers I got 250 + 250 on a P&L of 8m"
 
Depends if you're good, but more than IB trading analyst in your first year ? Id say hell no.
 
I am not speaking from experience but at least from what I've heard and just basic common sense, you ain't gonna be profitable for a good deal if not ALL of your first year trading. So for a prop firm where a sizable chunk of your income is derived from performance vs at an IBank where you get higher upfront pay AND part if not all your bonus is derived from non-individual performance ... well you can do the math. I aint saying it's impossible, but then again neither is winning the lottery. I am trying to get into one of these firms too, but I am realistic when looking at what I can make or even whether I have the ability to succeed in this field. It's important to note that a lot of the people who get a position in trading will fail.
 
The way I see it, the ibank stream (if you can get in) vs prop firm (respectable firms like optiver, imc, etc.) really makes no difference if you're REALLY REALLY confident that you want to do trading and nothing else. From what you're doing in terms of work I'd say the prop firm way gets you in a position to learn more AND make more money in the first few years of your career (as bonuses for prop firms are usually in the double digits, whereas it's much lower for an ibank). For someone who just thinks this might be something they like but doesn't know for sure the ibank stream makes much more sense as the name would look much better on a resume when trying to switch fields.
 
KnifeEdge said:
The way I see it, the ibank stream (if you can get in) vs prop firm (respectable firms like optiver, imc, etc.) really makes no difference if you're REALLY REALLY confident that you want to do trading and nothing else. From what you're doing in terms of work I'd say the prop firm way gets you in a position to learn more AND make more money in the first few years of your career (as bonuses for prop firms are usually in the double digits, whereas it's much lower for an ibank). For someone who just thinks this might be something they like but doesn't know for sure the ibank stream makes much more sense as the name would look much better on a resume when trying to switch fields.
Click to expand...

but i aint gud enuf to get into the IBanks man !
 
i am just one ****ing loser who hold a 2:1 degree in an AUSTRALIA non tagert sku.
I AM A LOSER , my gf just dumped me on the christmas eve (TODAY) and my total saving is only 1k AUD man !
i am just hopeLESS , i wud really consider of suciside if i cant get a job before the freaking chinese new year becoz all my relatives are gonna f**king look me down . . .
 
apparently neither am I, I've never gotten past the HR interviews for any of the graduate analyst programs at any major ibank but I don't let it phase me. If you're really serious about getting into trading, it really doesnt matter whether you get in an ibank or prop firm, if you're actually serious about it and can succeed, you're gonna do well and have plenty of opportunities to go from one to the other. If you want to get into a firm like optiver or IMC or whatever just be sure you know your **** cuz MUCH more so than at an Ibank. I've failed twice trying to get into these firms because I was over confident in my abilities and am now paying the price, I've only got a couple shots left this year and have to work hard to convert them. DO NOT make the same mistake as me, if you get the chance to try out for one of these firms, PREPARE LIKE A MOFO.
 
I'm basically in same boat as you man, just that I'm from Canada. Look, if there's one piece of advice that I can give you, is be realistic and trust yourself. Don't give a **** about what your family or friends think if you are sure this is something you want and its worth the sacrifice. I don't think that the requirements to get into any of these firms is out of reach for anyone. You just have to know where you stand and what itll take to meet those standards. Its already much easier to get into these firms than an ibank as they do not nearly discriminate as much against people from non ivey league schools or lack of past experiences/internships (they know that even as a summer intern at an ibank most of what you're doing is fetching coffee and not actual work). Thats precisely the reason they have the crazy assessments, they want people who not only have those skills (which arguably only marginally contributes to your effectiveness) but have the drive and determination to get their arithmetic or whatever skills up to the level they want.

Again not speaking from experience, just what I think.
 
btw I think we should stop hijacking this thread, if you wanna talk more add me on msn (pm me for my email). I would be interested in talking more about what your experience has been in regards to this as well as share my pov and what I've seen trying to break into this field.
 
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