Entry-level Job to Benefit Trading

[RobinHood 10]

I'm working at a cafe at the moment. I hate it.

 

I want to work in something close to the markets, but I'm not sure where to apply really. My options seem limited.

 

No prop shops here.

A few brokerages, applied to most already.

 

 

Any ideas? I have a diploma in financial markets and completed school, that's all.

Edited August 13, 2008 by RobinHood

[RobinHood 10]

Another thing is,

 

I will always get filtered by HR or a recruiter because of my age and qualifications. However, anytime I get direct contact with someone involved in trading I will get an interview. I have been *close* to getting a junior role at a local private equity fund because of exactly that. Unfortunately, most companies and adverts on job sites seem to be through recruiter companies.

 

Just now I've been compiling lists of additional companies which I can email, but I think it may be better for me to go in myself, although I'd imagine it would be extremely difficult convincing HR or secretary to let someone in charge talk to me.

[MidKnight 12]

There is one prop firm I have heard of in Aussie. They are at http://www.propex.net.au/index.html

[RobinHood 10]

I should have mentioned I was there. They are in Sydney.

 

I had an interview there a few weeks ago.

[Northern boy 10]

apply to a prop shop in Canada, no credentials required. Trade remote.

[am5001520887468 10]

How about moving to Sydney?

 

Just by looking at jobs on Seek - Sydney vs. Melbourne - You can see Sydney has alot more market based jobs.

 

For example:

 

Options Marketmakers - Liquid, Tibra, Optiver, Timberhill, Susquehanna

Proprietary Futures - Propex, Fusion, Transmarket - I also hear MF Global have a prop desk.

 

There are a bunch of trading desks at various banks, alot of large brokerage offices, a bunch of managed fund HQs.

 

 

On another note, what did you think of Propex?

[RobinHood 10]

apply to a prop shop in Canada, no credentials required. Trade remote.

The ones I found look shady - no one I would trust an initial deposit with.

Would you know of any allowing Eurex and asian trading?

 

How about moving to Sydney?

 

Just by looking at jobs on Seek - Sydney vs. Melbourne - You can see Sydney has alot more market based jobs.

 

For example:

 

Options Marketmakers - Liquid, Tibra, Optiver, Timberhill, Susquehanna

Proprietary Futures - Propex, Fusion, Transmarket - I also hear MF Global have a prop desk.

 

There are a bunch of trading desks at various banks, alot of large brokerage offices, a bunch of managed fund HQs.

 

 

On another note, what did you think of Propex?

Indeed, Sydney is much better for the type of role I'm seeking. However, I can't afford the move without first finding a solid job (no entry-level positions, such as sales).

 

Most of the firms you mentioned have graduate intakes. I've actually applied to some and they are very strict in that regard. The only exceptions being Propex and Fusion (they don't take trainees).

 

Propex is a very solid place. They pay their trainees a very basic salary during training (just for personal expenses), and most of the people I have spoken to who were involved in the firm spoke very highly of it. (PM me for more details if you like). All you need to get in IMO is mental strength, intelligence and a trading record / sim / blow up etc AND to convince them that you are actually capable of moving to Sydney.

 

I think, although I'm not sure, the reason for such a shortage of prop firms here is the regulatory environment, and this could also be the reason behind their basic salary for trainees.

 

I've enrolled into Monash next year, and by then I'll aim to get out of Australia. IB or MM route. Otherwise, Sydney it will be.

Edited August 13, 2008 by RobinHood

[daedalus 10]

I have a friend who has been looking into prop shops in canada heavily (he lives there).

 

After talking with a lot of people and a lot of research it turns out that Bright Trading is really the only legit, and quality prop firm. They have a remote program as well.

 

Hes met with them face to face and been to their offices and is going to join them next month sometime. Hes been really impressed with the type and amount of trading they do. But their trading style isn't traditional in the sense of what typical daytraders are use to.

 

They do a lot of arbitraged positions between correlated equities, etc that are pretty complicated, that being said, they know what they are doing and make money.

 

There is one other firm up in Vancouver that is really good as well. The owner is a guy by the screen name of se7en on elitetrader. He even thinks that bright trading is a quality firm. You might want to send him a PM or something.

 

Only thing is with bright is that they require you take the series 7 prior to joining (you might already have it?).

 

Hope this helps! Cheers!

[justlurkin 10]

apply to a prop shop in Canada, no credentials required. Trade remote.

 

Northern Boy, this seems interesting. Would you have a list of decent prop shops in Canada. I'd like to research them myself...

 

thank you

[RobinHood 10]

Well I sent out many more resumes and there is just no interest out there.

 

I have found something else though: I've got an interview for dealer position at a casino here in Melbourne. Finally.

[mister ed 10]

As a back-door idea perhaps look for a settlements job, I would say in FX preferably. There should be vacancies in both Melbourne (ANZ, NAB) and Sydney (WBC, CBA, MBL, plus the smaller operations). To be honest, prick of a job, but you will have a foot in the door and then you need to pester the sh*t out of the chief dealer and the senior dealers on the desk (in the nicest possible way) to get an assistant's job on the dealing desk.

[white_goodman 10]

how did the job hunting go? ive recently sent my resume into propex, will see how it goes...

[RobinHood 10]

i'm working at the casino.

 

good luck with propex. update me through ASF.

[white_goodman 10]

i'm working at the casino.

 

good luck with propex. update me through ASF.

 

ill be seeing you once we get our stimulus money lol

[quantspot 10]

hope this helps

 

http://www.quantspot.com/jobs/trader