Optiver Vs Tibra

[forevergalaxy]

I have just applied for a trader position at Tibra and other trading firms. However, I just read an interesting news about Tibra is now being sued by Optiver for copyright infringement. Has the result out yet? I'm just wondering if that would affect the recuritment process? Is that a big issue for tibra? What will happen to tibra if it loses to optiver? welcome to discuess!

 

[forevergalaxy]

no one interested in this topic???
also, has anyone who had applied a trader postion heard back from Tibra?

 

[roohif]

I have just applied for a trader position at Tibra and other trading firms. However, I just read an interesting news about Tibra is now being sued by Optiver for copyright infringement. Has the result out yet? I'm just wondering if that would affect the recuritment process? Is that a big issue for tibra? What will happen to tibra if it loses to optiver? welcome to discuess!

Being a named respondent in the proceedings I can't say very much about the case specifically.

What I can say is that we strongly believe that there is no basis to their accusations, and this will become evident as the case progresses. This will not affect our recruitment process or our plans for growing the company.

You can follow the case here:

https://www.comcourts.gov.au/file/Federal/P/NSD681/2009/actions

... and you can also order transcripts of the proceedings from the Federal Court (for a fee) if you wish to gain a better understanding of what has actually been said in the courtroom.

Hope that helps!

 

[ivantchourilov]

Being a named respondent in the proceedings I can't say very much about the case specifically.

What I can say is that we strongly believe that there is no basis to their accusations, and this will become evident as the case progresses. This will not affect our recruitment process or our plans for growing the company.

You can follow the case here:

https://www.comcourts.gov.au/file/Federal/P/NSD681/2009/actions

... and you can also order transcripts of the proceedings from the Federal Court (for a fee) if you wish to gain a better understanding of what has actually been said in the courtroom.

Hope that helps!

Good luck man! All the best in the case!

 

[forevergalaxy]

if you didnt do it, you don't need any luck! So, i hope this will end as what it should be.

I hope you non-unlucky! =D

btw, I didn't get any reply from Tibra about my application.....><

 

[ivantchourilov]

Hahaha yea fair call! But you know, money can be very persuasive at times

 

[_Alekhine_]

Are you guys no longer hiring traders for your London office? I've sent my resume to Tibra about two months ago and no reply at all. Was hoping that I would at least be called for the initial assessment.

 

[roohif]

Are you guys no longer hiring traders for your London office? I've sent my resume to Tibra about two months ago and no reply at all. Was hoping that I would at least be called for the initial assessment.

Did you get any sort of automated response at all? If you can PM me with the details (dates, times, content) of all the correspondence (even if that is literally zero), then at least I can forward it on to HR and see if we can't improve our process.

Cheers!

 

[Aussielad]

Are you guys no longer hiring traders for your London office? I've sent my resume to Tibra about two months ago and no reply at all. Was hoping that I would at least be called for the initial assessment.

That happened to me as well earlier this year. They never even had the courtesy of replying. It didn't matter anyway as I accepted a position at another prop firm.

 

[_Alekhine_]

Slight update since I last posted.

It seems that Tibra has changed the way it recruits. You have to submit your application through their online portal. This is a new feature. They ask you some basic questions about education (GPA, etc) and then have you submit your resume.

The really sad thing is that this has now turned into more of an Ibank-type process where you are automaticallly sent a rejection letter if your GPA is below 3.2 (2:1 in the UK). It's funny that a place like Tibra has turned into an insecure I-bank that rejects people based on stats alone. What happened to the Optiver approach where you were atleast given a shot at a test. If you're good enough to crack that test, that's all that matters, especially given the trading style that Tibra has. Why is GPA so important? I realize that they get a lot of applicants but if they simply let a person visit their site (at the individuals expense) to take a quick test, how does it matter. I think the cost is negligible given how hard it is to find the right person. Why limit themselves, especially given people only get one shot at it anyway?

The most important point though is that GPA is not consistent across the US. A lot of schools practice grade inflation. Also the major your choose can play a big part in it as well. I did (relatively) poorly (< 3.2) in college for lot of personal reasons that had nothing to do with my appitude. Working crazy hours to pay for part of my tuition didn't help either.

I love numbers and am very good with them. I'm actually a member of MENSA (it doesn't means anything but still I throw it out there cause people love to see some sorta stamp). Also, I've been working as an Actuary for over 5 years now and am doing quite well for myself. All I wanted was a crack at their test and am annoyed that I pretty much received an automated mail rejecting me without anyone even looking at my CV. Would they rather have people lie just to have a crack at their test and more importantly, would they turn someone down someone if they aced the test but then it turns out that this person didn't meet their GPA requirement?

LOL...That was quite a vent . Am just a little disappointed that's all. I guess this is what starts to happens when HR is given too much of a say in an organization.

 

[Mr_trader]

Hi Alekhine,

Does the rejection letter tell you whether GPA less than 3.2 was the reason you were rejected ? I am not certain if it is true, but based on what I have heard, it is possible that you could have been rejected because you worked in Actuary for 5 yrs and so you are not a recent graduate. I have heard firms like Optiver, IMC and Tibra are mostly looking to hire only young guys out of school as opposed to someone who is in their late 20's.

Let me know your thoughts.

Thanks.

Slight update since I last posted.

It seems that Tibra has changed the way it recruits. You have to submit your application through their online portal. This is a new feature. They ask you some basic questions about education (GPA, etc) and then have you submit your resume.

The really sad thing is that this has now turned into more of an Ibank-type process where you are automaticallly sent a rejection letter if your GPA is below 3.2 (2:1 in the UK). It's funny that a place like Tibra has turned into an insecure I-bank that rejects people based on stats alone. What happened to the Optiver approach where you were atleast given a shot at a test. If you're good enough to crack that test, that's all that matters, especially given the trading style that Tibra has. Why is GPA so important? I realize that they get a lot of applicants but if they simply let a person visit their site (at the individuals expense) to take a quick test, how does it matter. I think the cost is negligible given how hard it is to find the right person. Why limit themselves, especially given people only get one shot at it anyway?

The most important point though is that GPA is not consistent across the US. A lot of schools practice grade inflation. Also the major your choose can play a big part in it as well. I did (relatively) poorly (< 3.2) in college for lot of personal reasons that had nothing to do with my appitude. Working crazy hours to pay for part of my tuition didn't help either.

I love numbers and am very good with them. I'm actually a member of MENSA (it doesn't means anything but still I throw it out there cause people love to see some sorta stamp). Also, I've been working as an Actuary for over 5 years now and am doing quite well for myself. All I wanted was a crack at their test and am annoyed that I pretty much received an automated mail rejecting me without anyone even looking at my CV. Would they rather have people lie just to have a crack at their test and more importantly, would they turn someone down someone if they aced the test but then it turns out that this person didn't meet their GPA requirement?

LOL...That was quite a vent . Am just a little disappointed that's all. I guess this is what starts to happens when HR is given too much of a say in an organization.

 

[_Alekhine_]

Hi Alekhine,

Does the rejection letter tell you whether GPA less than 3.2 was the reason you were rejected ? I am not certain if it is true, but based on what I have heard, it is possible that you could have been rejected because you worked in Actuary for 5 yrs and so you are not a recent graduate. I have heard firms like Optiver, IMC and Tibra are mostly looking to hire only young guys out of school as opposed to someone who is in their late 20's.

Let me know your thoughts.

Thanks.

Don't have their letter anymore so am not sure what the letter said but what you've suggested is possible but it seems unlikely and here's why.

I'm currently in the UK and submitted my Tibra application at around 1 a.m. The application was for the role of a trader at their London office. This was a work day and when I got up at around 7:30 a.m and checked my mail, I saw their rejection letter. Now it's obvious that no one from the UK office saw my application. They do have an Australian office though that would have been open during those hours but I find it hard to believe that HR would have looked at my application and sent me a rejection letter within a few hours, especially given the volume of applications they receive.

It's quite obvious that their job portal has some built-in code that automatically sends rejection letters to people who don't meet certain criteria. GPA is one of them. It would be illegal (officially) to discriminate based on age and don't know what other criteria they could have rejected me on. I highly doubt that anyone even saw my resume to know anything about me.

As a side note, when I contacted Optiver about a trader role, the HR person told me that they have a test centre in London and asked me whether I wanted to sign up. I didn't end up taking their test cause I don't wish to relocate at the moment and Optiver no longer has a London office. Definitely think that Optiver doesn't care about stats. I like their attitude. They just want people who can crack their tests. If you can then they will hire you.

Don't know enough about IMC to comment. Anyway, hope that helped.

 

[Mr_trader]

As far as I know, you have to be selected to take Optiver tests. I don't know how much they care about GPA, but I don't think they would let anyone take their tests.

Based on what you said, it seems very likely that Tibra have rejected you based on your GPA. However, it wouldn't be inappropriate to give them a call and ask them politely why you were rejected.

Don't have their letter anymore so am not sure what the letter said but what you've suggested is possible but it seems unlikely and here's why.

I'm currently in the UK and submitted my Tibra application at around 1 a.m. The application was for the role of a trader at their London office. This was a work day and when I got up at around 7:30 a.m and checked my mail, I saw their rejection letter. Now it's obvious that no one from the UK office saw my application. They do have an Australian office though that would have been open during those hours but I find it hard to believe that HR would have looked at my application and sent me a rejection letter within a few hours, especially given the volume of applications they receive.

It's quite obvious that their job portal has some built-in code that automatically sends rejection letters to people who don't meet certain criteria. GPA is one of them. It would be illegal (officially) to discriminate based on age and don't know what other criteria they could have rejected me on. I highly doubt that anyone even saw my resume to know anything about me.

As a side note, when I contacted Optiver about a trader role, the HR person told me that they have a test centre in London and asked me whether I wanted to sign up. I didn't end up taking their test cause I don't wish to relocate at the moment and Optiver no longer has a London office. Definitely think that Optiver doesn't care about stats. I like their attitude. They just want people who can crack their tests. If you can then they will hire you.

Don't know enough about IMC to comment. Anyway, hope that helped.

 

[_Alekhine_]

I had contacted an HR person and sent her my resume.

As for Tibra, I'll probably wait until 2010 to contact them now as I'm quite swamped at work.

 

[RoszkoRR]

Does the GPA requirement also apply to Sydney, Australia? We have a WAM system, but some uni's also issue GPAs out of 7.

Alekhine, I completely agree with you that the GPA isn't truly reflective of your abilities. Working as an actuary is an achievement on its own accord and its probably one of the most rigorous studies you can do at uni. I know because I have just finished my actuarial major and it was literally a pass or fail style of program. I definitely feel it should be taken into consideration!

 

[roohif]

I had contacted an HR person and sent her my resume.

As for Tibra, I'll probably wait until 2010 to contact them now as I'm quite swamped at work.

Hey Alekhine,

I've raised your feedback internally with HR, and I'll make sure it's taken on board.

I have my own personal views on what makes a good trader, but obviously testing everyone can be quite expensive. Moving the test online helps in that regard, but we don't have a video camera installed in your computer to make sure you aren't using a calculator :cheesy:

Can you tell me how long it was between sending your CV and getting the response? I wasn't aware that we reject applicants purely based on their GPA - I agree that it's not a "perfect" indicator of suitability, and as I said, I've raised it internally so that I can understand the rationale ...

Cheers!

 

[ninaconnie]

I've just finished my online SHL numerical test of Tibra last Thursday. Could anyone be able to tell me generally when I will get the response for the test. Will they send me a message if I'm eliminated?

 

[aband0ned]

Hello,
I really wonder what is the number of application for trader position per day? What portion of them proceeds to the interviews part?
Thanks

 

[Richie_A]

I've just finished my online SHL numerical test of Tibra last Thursday. Could anyone be able to tell me generally when I will get the response for the test. Will they send me a message if I'm eliminated?

I think the way it works is - You submit your CV, they automatically invite you to do an online numerical, if you get over a certain percentage (eg. 60%+) they look at your CV, they like your CV, you get an interview. So your CV is probably in a pile to be checked.

 

[_Alekhine_]

Hi roohif,

Thanks for the response.

I submitted my resume in Nov (around the 10th I think) after midnight and got a rejection letter in the morning with the standard HR rejection stuff. So technically less than a 7 hour period between submission and rejection .

I do realize that you can't have everyone take the test but I was definitely hoping to get a shot at it given the quantitative nature of my degree as well as my work experience. Since a person is given only one shot at a test and given how few make it as traders, I definitely think you guys should allow more applicants to take your test. A few might surprise you. Not saying that I could be one of them but hey .

Anyway, I'm still interested and would like a chance at your test. Let me know if it's possible .

Hey Alekhine,

I've raised your feedback internally with HR, and I'll make sure it's taken on board.

I have my own personal views on what makes a good trader, but obviously testing everyone can be quite expensive. Moving the test online helps in that regard, but we don't have a video camera installed in your computer to make sure you aren't using a calculator :cheesy:

Can you tell me how long it was between sending your CV and getting the response? I wasn't aware that we reject applicants purely based on their GPA - I agree that it's not a "perfect" indicator of suitability, and as I said, I've raised it internally so that I can understand the rationale ...

Cheers!