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espo17

Registered: Jul 2010
Posts: 1

07-29-10 02:13 AM

I"m looking for a Prop trading firm with a NJ office. My goal is to find a firm with a Shonfeld or First NY type model, no money up, trade firm capital for a 50/50 ish split and a trading room filled with professional, experienced traders. If anyone knows of such a firm please let me know. Thanks in advance.

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sung1contrarian

Registered: Jun 2012
Posts: 28

07-16-12 09:51 PM

its been a while but any updates on this?
tnx

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Maverick74

Registered: Mar 2002
Posts: 17320

07-17-12 04:03 AM

Quote from sung1contrarian:

its been a while but any updates on this?
tnx

Well, FNYS is going under and Schonfeld abandoned that model. So you don't even have those two choices left.

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bears21

Registered: Jan 2007
Posts: 195

07-17-12 05:51 AM

Quote from Maverick74:

Well, FNYS is going under and Schonfeld abandoned that model. So you don't even have those two choices left.

Mav first new York is going under wow, I thought they changed from a prop model to hedge fund model with outside investors

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sung1contrarian

Registered: Jun 2012
Posts: 28

07-17-12 02:55 PM

Quote from Maverick74:

Well, FNYS is going under and Schonfeld abandoned that model. So you don't even have those two choices left.

Wow. thanks for the info.

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ScalperJoe

Registered: Mar 2010
Posts: 608

07-17-12 11:46 PM

Hi Mav, "going under" is perhaps an overstatement. According to FINRA's broker check, FNYS is listed as "active". In their latest SEC filings, FNYS listed 4 billion in assets, 90 million in member's equity, and lease agreements through 2015, certainly things that suggest that a firm is not "going under" for now.

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