Prop Shops in Australia

skyQuake · 17 March 2010

Trembling Hand said:
That was 2 years ago.

http://en.wikipedia.org/wiki/Air_pollution_in_Hong_Kong

Maybe Japan in the snow would be the place. Good place to hide all the bodies of the blown up traders as well.

Is there a rebate thing going on? Like with recycling bottles to get 10c ?

-------------------------------------

More importantly, how is the connection speed? Is it markedly less than Aus?

sleepy · 17 March 2010

Trembling Hand said:
Stopped looking. I will be setting one up myself if I decide to move there.

Hi TH,

Why does it have to be Hong Kong?
Couldnt you do something similar anywhere in the world or is is it because of Regs/Time Zone/Snow.... etc

sleepy

Largesse · 17 March 2010

latency

Trembling Hand · 17 March 2010

Yep latency. But also opportunity, you have to go where you see the growth & size.

Also a lot easier becoming an exchange member while you are based in the country, especially Honkers.

And of course there is always the outlier that China has just announced they are going to let futs to be traded over their equities.

Naked shorts · 16 April 2010

Trembling Hand said:
And of course there is always the outlier that China has just announced they are going to let futs to be traded over their equities.

mmmmhmmm

http://cmegroup.mediaroom.com/index.php?s=43&item=3011

Leo Melamed, chairman emeritus, CME Group, has been honored with an invitation to represent the exchange at the historic ceremonies for the launch of the CSI 300 Index futures by the China Financial Futures Exchange (CFFEX).

The ceremonies will be held on Friday, April 16, 2010 in Pudong, Shanghai, beginning at 8:40 a.m.

DeCal · 4 May 2010

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vivkom · 16 June 2010

Hi Guys
I have been trying to get through in one of prop shops in sydney. I have recently moved here. Does one need to have a financial qualification to get into prop trading. I am an engineer and have been trading on my own for last 2 years.

Trembling Hand · 16 June 2010

vivkom said:
Hi Guys
I have been trying to get through in one of prop shops in sydney. I have recently moved here. Does one need to have a financial qualification to get into prop trading. I am an engineer and have been trading on my own for last 2 years.

What sort of trading? prop shops are interested in intraday futures trading. If you have a few years record of that they would be interested in seeing your results. If not then one way in would be to apply for Propex's 6 monthly trainee program.

vivkom · 16 June 2010

Trembling Hand said:
What sort of trading? prop shops are interested in intraday futures trading. If you have a few years record of that they would be interested in seeing your results. If not then one way in would be to apply for Propex's 6 monthly trainee program.

Hi TH
I have been trading index futures both intraday and positional. Today I applied for Propex Trainee propgram which they will start in July 2010.
You seems to be a Prop trader , do you mind telling me what kind of monthly return prop firms are looking for.

hooikk · 18 June 2010

vivkom said:
Hi TH
I have been trading index futures both intraday and positional. Today I applied for Propex Trainee propgram which they will start in July 2010.
You seems to be a Prop trader , do you mind telling me what kind of monthly return prop firms are looking for.

I think they start advertising/interviewing for applicants in July (but people can apply via their website) but the program starts in September.

I'm going to appy for a position as well, but need to rewrite my resume first. G'luck to both of us

Trembling Hand · 18 June 2010

vivkom said:
do you mind telling me what kind of monthly return prop firms are looking for.

Its not so much the return that they base their performance on. They don't want to know you make 10% per month because that probably means you are just a leveraged up nut.

I would frame my performance on a risk adjusted basis. If your normal position sizing is 2 contracts and you average 150 ticks a week then you would say you're good for 15 ticks per contract traded per day.

I cannot talk for them but performance like 15 ticks per day per contract looks pretty good if your trading 20 lots

vivkom · 18 June 2010

hooikk said:
I think they start advertising/interviewing for applicants in July (but people can apply via their website) but the program starts in September.

I'm going to appy for a position as well, but need to rewrite my resume first. G'luck to both of us

Wish you luck.

vivkom · 28 June 2010

Atlantic Trading Asia another prop shop in Sydney. But no information available online .. cant even find a website.
Anyone knows about it.

vivkom · 28 June 2010

Trembling Hand said:
Its not so much the return that they base their performance on. They don't want to know you make 10% per month because that probably means you are just a leveraged up nut.

I would frame my performance on a risk adjusted basis. If your normal position sizing is 2 contracts and you average 150 ticks a week then you would say you're good for 15 ticks per contract traded per day.

I cannot talk for them but performance like 15 ticks per day per contract looks pretty good if your trading 20 lots

Hi TH
thanks for the information.
But thats tricky isn't it, I can make 15 ticks per contract per day(I trade NSE Nifty index future) while I am trading 2-3 lots based on my capital capacity; but replicating the same on 20 lots will need somewhat different mindset

ThingyMajiggy · 23 July 2010

How are you guys going at Propex now?

Any new firms that are similar to Propex? I'm interested in joining one if I can, see if its possible for me or not, but probably need to be an ex-brain surgeon with 3 briefcases full of certificates to show how intelligent you are to get into any of these firms right?

Doesn't necessarily have to be in Aus either if anyone knows of any, interested in intra-day futs trading(reading the order book etc), I know a few guys who work at Futex in London and it sounds excellent, but as I said they probably wouldn't take a determined young no-body like me I guess, plus the cost of living in London wouldn't be ideal I would imagine

Also, do they pay you while you train? Or do you somehow have to move to a different city, find a job, find a place to live, pay rent and expenses AND be in there everyday for them to teach you how to trade? I understand Propex pay 1K a month or something?

I'm just curious to the possibilities at this stage

Manifest · 23 July 2010

yeh i'd be interested to know how you guys are going too....
I just received an invite to attend the aptitude test next week for propex. any one else here going??

supermatt · 10 August 2010

any updates on how the apt test went at propex?

Manifest · 10 August 2010

supermatt
Re: Prop Shops in Australia
any updates on how the apt test went at propex?

No good for me mate. I was a touch below cut off marks for maths and financial markets section. Wish I had more time to prepare.They have an online course coming out in a couple of weeks which is a scaled down version of their in house training. might look into that.

RobinHood · 8 September 2010

Hi,
Is anyone here working at an options market making firm? SIG or Optiver?

I'm currently majoring in econometrics/stats at Monash and seeking some advice on entry ...

mazzatelli · 8 September 2010

RobinHood said:
Hi,
Is anyone here working at an options market making firm? SIG or Optiver?

I'm currently majoring in econometrics/stats at Monash and seeking some advice on entry ...

For SIG - they love poker. Brush up on probability questions [Bayes etc.] and brainteasers [game theory, recursive plays etc] - initial interviews are all based on these.

Prop Shops in Australia

skyQuake

sleepy

Largesse

Trembling Hand

Can be found on the bid

Naked shorts

DeCal

vivkom

Trembling Hand

Can be found on the bid

vivkom

hooikk

Trembling Hand

Can be found on the bid

vivkom

vivkom

vivkom

ThingyMajiggy

Manifest

supermatt

Manifest

RobinHood

mazzatelli

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