Is here anyone from Germany? I wonder if one should take something like series 3/7 exam to qualify himself as pro in Germany? Could you provide some links to web-sites where is can read about it?
The eurex exam is tough. You used to have to pass this to trade futures or options on a raw dtb terminal. I don't think you need it now as you can use order routing software such as pats without passing.
Thaks guys, you've been very helpful So this exam called Eurex Trader Exam. Now is easier to search for info Thanks.
Unlike London, which is as heavily regulated by FSA like the U.S. by the SEC, Germany does not require a specific license for over the counter trading. Eurex is the first fully electronic futures and options exchange in Europe and is a offspring of SOFFEX in Switzerland (the very first, fully electronic exchange in Europe) and DTB in Germany. It could well be, that members of Eurex will have to pass a test to get certified as market makers. I hope, that helps.
Thank you guys for replies and links Does all that mean if one wants to trade other people's money or trade for some hedge fund in Germany he does not need any professional certification?
Will you be based in Germany? Are you going to join a Eurex member firm as a trader? If you are trading other people's money in the U.S., then you are subject to U.S. rules. In the first instance, NASD and then rules and regs pertaining to investment companies and investment advisors. If memory serves me right, as with most continental Europen countries, there are no licensing requirements in Germany. I'll check with a couple of friends in Frankfurt. If you join a Eurex member frim as a trader, you will have to comply with Eurex requirements. Should you be doing this out of London, you will be additionally subject to licensing by the FSA (UK equivalent of SEC). cheers
Thank you very much, shmiddely. Now I have full understanding about professional licensing in Germany. Thanks