NJ Prop Firms

Discussion in 'Prop Firms' started by espo17, Jul 28, 2010.

  1. espo17


    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.
  2. its been a while but any updates on this?
  3. Maverick74


    Well, FNYS is going under and Schonfeld abandoned that model. So you don't even have those two choices left.
  4. bears21


    Mav first new York is going under wow, I thought they changed from a prop model to hedge fund model with outside investors
  5. Wow. thanks for the info.
  6. 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.
  7. Maverick74


    If I'm not mistaken 3 of the 4 partners have left as well as several top traders. And PFG looked like they were doing well too according to their filings. I will never believe another filing again the rest of my life. Follow the partners I always say.
  8. I do believe filings have some merit, but like you said PFG was doing well and look what happened. Things can turn on a dime in this business as you already know.
  9. traderchi128

    traderchi128 Guest

    FNYS is not going under (changed their structure) and Schonfeld has the same exact model since the 90's.

    Otherwise you are right........ :)
  10. Maverick74


    I have heard from most of the big traders there that they no longer run the same model they ran in the 90's or early 2000's. In fact Schonfeld stated that himself in a recent article.

    And FNYS has basically completely stopped backing new guys.
    #10     Jul 18, 2012