Registered: Aug 2006
11-10-11 02:20 AM
Quote from denner:
Considering the market environment, it's more than I would have expected. Not to mention that twenty odd years ago when I was first out of college, the whole concept of "prop trading" was a pretty foreign concept. Basically, you would be looking for a position as a clerk or runner at the exchanges or you'd go to New York for the traditional investment bank path.
prop firms (where the firm backs you and you get a split; like mav has said) have been around chicago for a long time. there were oconnor and crt in the 70s; cooperneff, gbar, hull, sig in the 80s; a bunch now. They started as floor groups and got bigger.
whats foreign to me is when some of you think prop trading is where you have to put your own money up. I consider that a brokerage account.