Next job for specialist trading assistant?

Discussion in 'Order Execution' started by rynmcd, Dec 5, 2006.

  1. rynmcd


    Everyone on this board is self employed or trades for someone else. Thought it might be a good spot to ask - having worked on the floor for 3 years as a specialist trading assistant - will my experience help me to get on a trading desk somewhere (prop or executution?)
    The end of the floor is near... I was hoping you guys would have some feedback...
  2. Surdo


    NETWORK>>>>NETWORK >>>>>>NETWORK through any NYSE connections you may have have. These jobs are not easy to come by.

    I worked on The NYSE for a few years and then upstairs.

    I had an edge making the transition upstairs as a phone clerk, I developed a few relationships with the desk.
  3. rzepe93


    Make sure if you are going to apply anywhere that is execution based you get the spelling right. Other than that seriously start talking to all the contacts you can to try and get upstairs. Even market making upstairs can be a decent living and you would most likely start off at salary + commission. It would give you a feel for screen trading. Good luck.
  4. Surdo


    Nobody really give a rat's a$$ if you can spell!

    Just be confident, not too arrogant and be able to get the entire desk's Starbucks order correct.

    If you work for LAB or GS/SLK try and make the right introduction without shooting yourself in the foot. Both have very serious upstairs operations.
  5. rynmcd


    What do you mean by 'shooting myself in the foot'? Where do you feel someone with floor experience can most easily transition?
  6. Surdo


    I meant if your superiors like your work on The NYSE Floor, they may not want to lose you to their desk!

    Just network through any EVERYBODY you know down there, you would be surprised how strong the good 'ole boys network is.

    An assistant to a listed trader would be a perfect transition, all you will do is keep the P&L and position of the trader and enter orders, much like a front line specialist clerk does for the Specialist!

    (and get coffee and lunch like you did 3 years ago!)
  7. Truff


    Unfortunately specialist and market makers turn out to be the worst traders from what ive seen, so your experience you had probaby has prepared you for NOTHING. sorry!!