Just joking my friend, good post. I was wondering what those traders were doing. If they closed, I thougt we would have heard from them by now.
No. They are using sonic until they get their own software up and running. From what I heard sonic is pretty good but has trouble merging with Schonfeld's backoffice backbone. The two different software pieces don't fit together like they would if they had originally been designed to work together. I guess that is part of the reason why schon is making their own software.
I see I am late for responses (what's a month or so anyway). Don't know about LA offices but in NY the word is interesting. A few angles have been told. Schoni has 2 upscale offices in Manhattan. They are consolidating them into one office (probably the Madison Avenue one) and closing up Park Avenue. However, they are opening a new office in Brooklyn, NY (a fact) and recruiting new traders. Interesting how they are cutting back and expanding at the same time. The other rumor is that they are closing the Chicago office and the firms top trader (overall top, probably best in the business) is moving from Chicago to NY and will runt he Madison office while all left over traders will move to Park Avenue. And yes, the Brooklyn is still opening. I do not work at Schoni, but if you want to get into the company , the Brooklyn office is your best bet (if you live in the NY area). So even though Schonfeld got hurt (just like everyone else in the business) they don't seem to be vanishing fromt he scene. A small note from a different thread aboput Broadway. The word is that Schonfeld took them over. Happy trading.