Non Compete Agreements

Discussion in 'Prop Firms' started by nathanos, Jul 14, 2008.

  1. nathanos


    I am curious if anyone here that works as a prop trader for a true prop firm, or has received an offer, has signed a non compete agreement. If so, when did you sign and how long is your non compete duration? Just taking a survey here, thanks!
  2. work true prop

    signed 2 year non compete
  3. Trist88


    same here 2 years
  4. dr_sean


    from what I've seen only the top firms who are going to peak into their in-house software, market making technology / etc, are going to make you sign a non-compete...i might even go so far as to say it is a sign of legitimacy.

    I know Susquehanna is the most notorious for their 3 year non-compete. FWIW.
  5. Fractal


    If you're an inexperienced trader just starting out, try as hard as you can to not get locked into one. Most front end groups are shady and are incentivized to use new traders as commission machines through non-competes. Not the right way to get into the business, unless you're receiving rates commensurate with the right strategy.
  6. the chances of them finding you at a new place are low. Unless you decide to publicize your new location to your existing work friends. Keep your head low, and don't worry much about it.