Anyone have an inside track on who to contact or how to become a Market Maker for a firm? Cant find anything in jobsites, any recommendations, advice?
I think the terminology "Market maker" belongs to firms like Refco group. Do you mean IB or introducing broker? Regards, Hani
If you mean Market Maker for a firm, those jobs are gone. I was a MM for # 2 MM for 8 years, almost every trader is gone- replaced by black box, thats the future of Market Making. Good Luck
You need to be more specific. Equity? options? etc? Equity market makers (especialyl nasdaq) are all but extinct. ECN's destroyed that part of the business. I used to be one and it has gotten consistantmnly worse the last 3 years (since decimalization.)
Okay, I will bite. It depends on the instrument that you will be making a market on. Like some one pointed out, Equity market making is almost none-existent these days. With Thain's plan to completely electronicize the NYSE floor, the floor market makers will become order processing clerks, more or less. Options or Futures (and FO), there are still significant market making going on. But the successful ones are all sophisticated electronic trading firms with most of the analytics and decisions driven from up-stairs, i.e., Citadel, Wolverine, DRW, Citibank (used to be Knight Sec), etc. All of these markets, CBOE / PCX / ISE / BOX, allows Market making from remote (RMMs), and all the RMMs will be done in a highly automated way. For instance, a firm I know makes markets in 300+ names, but have around 5-6 market makers in total. All the market making are done via a central theoretical engine. Also, have you clerked for a MM? if you have, you probably already know who to talk to about becoming a MM, if not, I would recommend you start as a clerk or trader assistant. No firm I know of will hire some one straight as a MM. Rufus