Market Making for Fonds and ETFS (Germany)

[Denniz]

Hello,

first I hope that is the right place to ask such a question. I got an offer from a small firm that is doing Market Making in Germany.

They are doing the most part of it manually but want to automate some parts. I think they want automate small trades - if a small trade is hit - so that the system automatically hedge it if the order is small. Also, the want to improve the models they use (right now the most part is done by regression).

I find it very interesting. But on the other hand, I never did something like that. My background is quant (more back-office / portfolio optimization on weekly basis) and now working at an insurance in a boring job.

So I'm not sure about two things. First the working hours:
i. There is stated in the contract that over hours are not paid (In my company now they are) and also that the working hours depend on the exchanges...

ii. I saw the earnings of the company in 2015 and they were negative - that doesn't mean anything but is market making a job with a perspective? (Maybe sound a bit stupid but I think If not MM I would jump on the machine learning train)

I'm grateful for any advice!!!

PS: I know the question is a bit strange. But maybe someone can just tell what he thinks about market making - that would help. Its a big decision for me, since I have to move to another city and I'm a bit struggling with taking that decision.

 

[Quantt]

So I'm not sure about two things. First the working hours:
i. There is stated in the contract that over hours are not paid (In my company now they are) and also that the working hours depend on the exchanges...

This one I don't like, you have to know in general what hours you are going to work (what about if they put on on some overseas exchange and you have to work nights for example) and also if you work let's say 37.5 hours a week for x amount of salary, you should be paid over time, so they won't abuse you with unrealistic deadlines, etc... If I am you I would get all that in writing to avoid any misunderstandings in the future...

 

[Denniz]

This one I don't like, you have to know in general what hours you are going to work (what about if they put on on some overseas exchange and you have to work nights for example) and also if you work let's say 37.5 hours a week for x amount of salary, you should be paid over time, so they won't abuse you with unrealistic deadlines, etc... If I am you I would get all that in writing to avoid any misunderstandings in the future...

Thanks that is my main concern too. I think MarketMaking is quite interesting as well algorithmic trading is something I always wanted to get in. But right now I'm working 37.5h and enjoying my freetime. In the past I where in peek times even unpaid weekend work happend. Will try to clear that. I mean a bit overtime is ok (also unpaid). But if they expect me to work 10h a day, I think that wouldn't be the right choice for me .