futex

obayesshelton

Junior member
13 0
Hi,

Has anyone heard or know anything about - www.futex.co.uk ?

Just been looking at their graduate programmes as an entry to doing this fulltime.
 

random12345

Established member
793 280
Hi,

Has anyone heard or know anything about - www.futex.co.uk ?

Just been looking at their graduate programmes as an entry to doing this fulltime.

You need to consider the following equation before considering a modern day prop career.

They take between 12-20 grads and "pay to play" trainees every 3 months. The two offices have around 50-70 full time traders in them and haven't grown in size for a number of years.

Being a trader, your mathematics should be strong enough to figure out the issue here... implied value and all that....

That said, if you've got no other way in then it might be worth a punt as they aren't considered to be entirely awful, so long as you don't mind Woking. They say that Reunion island was created in the image of Eden.... now that's obviously total nonsense, but I'd consider it fact if they said that Woking was created in the image of Adam's first squitty turd.
 

obayesshelton

Junior member
13 0
I would like everyones opinion on this matter. What do you lot feel would be a good way to get an entry level role ? I have a trading journal and keep updating it. I spread bet and trade pretty much every day and I am currently a programmer on backend systems and have been doing this for quite a few years. I have worked for a broker in London in the past which gave me the first insight to this area. Other than writing to every company in London I don't know what else to do when the time comes to jump into the world of trading fulltime.
 

random12345

Established member
793 280
I would like everyones opinion on this matter. What do you lot feel would be a good way to get an entry level role ? I have a trading journal and keep updating it. I spread bet and trade pretty much every day and I am currently a programmer on backend systems and have been doing this for quite a few years. I have worked for a broker in London in the past which gave me the first insight to this area. Other than writing to every company in London I don't know what else to do when the time comes to jump into the world of trading fulltime.

It more depends on what YOU want from the industry. If you want to be a trader at a bulge bracket institution then you need to apply to entry level jobs at their relevant IBDs, no two ways about it. Prop trading won't help you with this application and can even be CV poison.

On the other hand, if you don't want that or don't think you'd make it through the CV sift, then prop trading may be a way into some form of institutional trading in the future, but you're looking at a long uncertain path with varied or no income where the success rate is very low.
 

obayesshelton

Junior member
13 0
It more depends on what YOU want from the industry. If you want to be a trader at a bulge bracket institution then you need to apply to entry level jobs at their relevant IBDs, no two ways about it. Prop trading won't help you with this application and can even be CV poison.

On the other hand, if you don't want that or don't think you'd make it through the CV sift, then prop trading may be a way into some form of institutional trading in the future, but you're looking at a long uncertain path with varied or no income where the success rate is very low.

Two Questions:

One - What is "relevant IBD" ?
Two - What is the difference between Prop Trading and what is the equivalent
 

random12345

Established member
793 280
Two Questions:

One - What is "relevant IBD" ?
Two - What is the difference between Prop Trading and what is the equivalent

Not to be short with you, but you have absolutely no chance of getting a paid career in trading if you don't take any interest in this stuff in your own time. Takes very little reading around to know the basics.

IBD is investment banking division. Morgan Stanley have a list of acronyms you'd be expected to know: http://www.morganstanley.com/about/careers/apply_ft.html

I'm not sure I understand your second question fully, but prop firms are generally smaller firms who exclusively trade money on the firm's balance sheet or take desk fees to allow traders to trade their own money independently at their physical or remote locations. Some American prop firms are huge however and you wouldn't lump them in the same category as London props. If you mean prop trading as a term, it simply means trading instruments with the firm's own money with a profit seeking motive from the trading itself as opposed to agency trading, where you trade on behalf of clients in exchange for commission. Investment Banks do both.
 

Steakeater

Member
82 2
I would like everyones opinion on this matter. What do you lot feel would be a good way to get an entry level role ? I have a trading journal and keep updating it. I spread bet and trade pretty much every day and I am currently a programmer on backend systems and have been doing this for quite a few years. I have worked for a broker in London in the past which gave me the first insight to this area. Other than writing to every company in London I don't know what else to do when the time comes to jump into the world of trading fulltime.

What brokerage firm did you work for? Why not go back to that?
 
 
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