Proprietary Trading IN NEW YORK

Discussion in 'Prop Firms' started by Get In Get Out, Mar 21, 2009.

  1. Does anyone have any info about Prop Firms in New York that require "no capital contribution" And how competitive is it to get into a prop firm? I know of T3, opus, trillium but it seems to be nearly impossible to contact a prop firm or hand them a resume where it does not go into a black hole. I specialize in trading ES futures and would like to know if anyone has any information on a Futures trading Prop firm?
     
  2. NYC212

    NYC212


    seems most want capital. the days of trading someone's money are long gone unless you trade from investment bank
     
  3. Although I can't provide you with a list of just NY firms and those without requiring a initial contribution, here is a lengthy list that you can go through:

    http://www.tradersnarrative.com/list-of-proprietary-trading-firms-735.html

    The majority of these are in Chicago but many are in New York too. If you have the time and patience Google the names and visit their websites.

    You're going to have to do the research, but you will have find many that suite you.
     
  4. If you "specialize in trading ES futures", then why can't you fund a trading account yourself?
     
  5. EXACTLY. Most prop firms won't sponsor e-mini trading.....they want Nasdaq or NYSE stock traders ONLY. Much more money for them.
     

  6. i think its not realy more money, b/c commissions on futures are actually much fatter. The issue is risk on futures is much higher than on stocks. Also - its even harded to be successful in futures then in equity. Futures are not a fractured market, so less opportunities for inefficiency (im talking about day-trading, not arb)

    also - futures are more home to chicago, nyc is more of equity home.
     
  7. joemiami

    joemiami Guest

    prop firm with no capital contribution??.....dream on
     
  8. What is the main reason prop firms require capital contributions? And what is a general capital contribution required?
     
  9. I would say that the main purpose is to provide the firm with some insurance or protection against you in the event you do something stupid.

    Think of the contribution as a business proposal where you agree to give the firm some capital (to show confidence in your trading ability) and then you obtain their capital too which provides the leverage. It's a business partnership. It is somewhat like going to the bank and getting a loan to trade... though this is a not a very good analogy.
     
  10. You are an independent trader you are using the firm's money as margin ( leverage) thus any losses are absorbed by you ( unless their risk management fails and you loose some of their money as well). Capital contibution depends from firm to firm, I have heard from $5k to $50k.
     
    #10     Mar 24, 2009