I think I should have been more explicit - we are always interested in hiring experienced market makers. At a guess, you sound like a Technical Analysis trader in equities, which is as far removed from derivatives market making as you can get - I doubt that your experience in TA would transfer well to a market making role.
The market making industry is incredibly technology focussed: Tibra's systems are top notch and they are our top priority going forward. A good trader at a company with bad systems is not going to make anywhere near as much as he would at a company with good systems. The opposite is also true - a bad trader at a company with good systems is still going to lose money. There are other incentives to jump ship - such as potential equity ownership. Working at a top market making firm like Tibra also has a lot of 'perks' like company holidays, free lunches, entertainment areas, longer annual leave, and more.
The 'big hitters' are the guys that have shown themselves to be not only excellent market makers, but have also contributed to the company in other ways, such as training new staff, or developing new trading ideas.
The reason the bonus pool is shared is simply because we don't want infighting over who trades which product. For example, a trader that makes X million dollars on a tough product will be paid a higher bonus than someone who makes the same money on an easier product. We also take into account the level of risk that a trader carries to achieve a certain profit - all other things being equal, a trader that takes on less risk will receive a higher bonus. We also allocate a chunk of the bonus pool to IT staff since they are almost as big a part of the company as the trading staff!
Hope that answers a few questions ...
The market making industry is incredibly technology focussed: Tibra's systems are top notch and they are our top priority going forward. A good trader at a company with bad systems is not going to make anywhere near as much as he would at a company with good systems. The opposite is also true - a bad trader at a company with good systems is still going to lose money. There are other incentives to jump ship - such as potential equity ownership. Working at a top market making firm like Tibra also has a lot of 'perks' like company holidays, free lunches, entertainment areas, longer annual leave, and more.
The 'big hitters' are the guys that have shown themselves to be not only excellent market makers, but have also contributed to the company in other ways, such as training new staff, or developing new trading ideas.
The reason the bonus pool is shared is simply because we don't want infighting over who trades which product. For example, a trader that makes X million dollars on a tough product will be paid a higher bonus than someone who makes the same money on an easier product. We also take into account the level of risk that a trader carries to achieve a certain profit - all other things being equal, a trader that takes on less risk will receive a higher bonus. We also allocate a chunk of the bonus pool to IT staff since they are almost as big a part of the company as the trading staff!
Hope that answers a few questions ...
