I'm very much against HFT. Something's going to have to give there. And, I agree, tape reading may have been a "dying art" in some people's eyes with all of the "technology" we have today, but an art that once mastered pays quite well.
Unfortunately, many prop discretionary traders are "lumped into" the HFT category, so if you have regulation there, u will have regulation here. My guess is since GS is king of HFT, there won't be much regulation happening. Just some minor tweaks to keep the interest groups satisfied.
interesting. i would have thought they were all based in nyc or ct. not that you will, but i'd like to see a list somewhere of these true props, see how they're being affected by the volcker rule changes.
it's not star wars yet, if that's what anyone thinks. it's mostly faster execution, and i don't see anything wrong with it if you can invest in the technology, take advantage of the advantage. but seriously, it's barclays, blackrock, jpm, gs, as the major four, and then it's banks all over the globe and hedge funds all running the same algos trying to feed like pilots off the great whites. it'll balance out when the sec finally gets its act together to level out the latency in it's quoting system.
i know this has been discussed somewhere before, but i'm also wondering how hft. gs, and prop, has been affected by the mass failure and exodus of hedge funds in london. and if there is a thread or site someone knows of that has a decent source of london props. i only know of a few.
No, in fact, very few are in NY and I can't think of any in CT. A majority are in Chicago and London and here is your list. http://www.tradersnarrative.com/list-of-proprietary-trading-firms-735.html I was going to rattle off all the ones on the top of my head but this list is very complete although it does mix in the deposit firms as well. There is a section below for just the London firms. Only about 25% of these are "true" props. I can't point out the better ones but they have been discussed at length on this forum. I don't believe the Volker rule will affect them much since these firms are not banks and don't engage in banking activities. I can point out some of the better firms on that list if you wish.
i believe there exists a golden opportunity to partner with the major brokerages and banks within the prop industry to create a new format of prop firm under the cbsx model that functions more as a hedge fund than this fragmented mess that exists since the assent model. anyone else who agrees can pm me, as i will be spending quite a lot of time on this the next few months and contributing to these threads often, good, bad, or otherwise.