Prop Shops in Australia

[Largesse]

So far i have only been able to find two even though i know more exist

Propex
Tibra Capital


Is there an exhaustive list anywhere?

 

[skyQuake]

Propex, Fusion Derivatives, Transmarket are prop shops that speculate, ie positional stuff.

Tibra, IMC, Optiver (and i think 1 more) are marketmakers for oppies. They're 100% delta hedged but prop nonetheless.
I think only UBS and ML are the only IBs that has a prop trading division in Aus.

 

[Ben]

add gsjbw, jpmorgan and citibank to that list

 

[RobinHood]

Ben, are you sure they have proprietary divisions in Australia?

And I would definitely not be "adding them to that list", they are a whole different league.

 

[MRC & Co]

Do you work for one of them skyQuake? You sure know a bit about them.

 

[Ben]

RobinHood:

I am sure they have prop divisions here, my mate works at Citi in currency and fixed interest prop, im pretty sure about JP, and i have just interviewed for a position at GSJBW equity prop

Adding them to the list of IBs that have prop in Australia, not making comment about their quality.

 

[rossw]

Propex, Fusion Derivatives, Transmarket are prop shops that speculate, ie positional stuff.

Tibra, IMC, Optiver (and i think 1 more) are marketmakers for oppies. They're 100% delta hedged but prop nonetheless.
I think only UBS and ML are the only IBs that has a prop trading division in Aus.

heaps more options market makers

liquid crapital
timber hill
susqehana
jp morgan
and many more smaller players like sandy bay

 

[skyQuake]

MRC & Co: I start with propex in Sept, have la few friends who work/worked in the others so I did my homework lol...
Just so hard to find a good prop place in Aus that actually trades

Prop shops:
Timber hill is computer/algo trading. You won't learn how to trade and I dont think they're hiring. I know the IBs are incredibly elitist and its almost impossible to jump straight in without working in Dealings or Equities for a while first.
My advice is do your research, google and read some forums. Some of them are not what they appear - if it asks for money down, get out.

 

[MRC & Co]

MRC & Co: I start with propex in Sept, have la few friends who work/worked in the others so I did my homework lol...
Just so hard to find a good prop place in Aus that actually trades

Prop shops:
Timber hill is computer/algo trading. You won't learn how to trade and I dont think they're hiring. I know the IBs are incredibly elitist and its almost impossible to jump straight in without working in Dealings or Equities for a while first.
My advice is do your research, google and read some forums. Some of them are not what they appear - if it asks for money down, get out.

lol yep, agree on most Props, important to do your research.

See you in Sept bud.

 

[Ben]

When did you guys find out about Propex? I am still waiting which I guess means I didnt get it...

 

[skyQuake]

Hey Ben, I was in the first batch of people and they told me a while after the final round.

MRC & Co, did you speak to Max direct or go through the normal channels? Congrats too

 

[MRC & Co]

Normal channels basically, didn't know there was another way.

I was in the second batch.

Congrats too mate.

 

[Ben]

so i didnt get in. Oh well my fall back is a job at GSJBW equity prop. Good luck with it fellas and congrats

 

[MRC & Co]

Thanks Ben, very sorry to hear.

Good luck with GSJBW.

 

[flipztacy]

Hey All

Just wanted to how you would approach prop shope like those mentioned above. what qualification or expereince are they looking for??

 

[RobinHood]

Anyone know much about the TransMarket structure? It seems like quite a solid firm. (Go back to early 80s)

Directional (they appear to be) ?
Salary + Profit split?
Profit split ony (as at Propex)

 

[RobinHood]

flipman:

Trading experience
Intelligence (I don't mean a genius, but you can't be stupid).
Passion for trading

I don't think a degree is necessary...

 

[gm500]

From what I've heard of Transmarket:

They are more focused around spread trading. They pay a salary aswell as a profit percentage.

They seem closer to an options MM prop firm in their recruitment activities - wanting degree educated/grades etc.

Well respected firm none the less.



Edit: Here is an old Transmarket job ad, which shows kind of what they do:

Australian/Asian Equity Derivative Trader
Australia's foremost proprietary firm seeks traders/ analysts to kick start our equity division.

The position involves:
• Incorporation of long and short positions
• CFD trading
• Pairs trading
• Butterfly trading
• Basket arbitrage
• Technical analysis

Successful applicants will have full discretion on trading strategies with the potential to hire your own team of traders to further expand our equity division.

The ideal candidate will have at least 5 years experience with a proven track record.

 

[Naked shorts]

I'm going to submit my resume to a couple of places today. Wish me luck!

 

[James Austin]

I'm going to submit my resume to a couple of places today. Wish me luck!

good luck Naked,

myself, these places do not appeal.

i wonder if there is much performance pressure?!;

that's not a bad thing though, some personailities, maybe yours?!, would thrive in such an environment.