swift trader Branch Managers...

Discussion in 'Prop Firms' started by quin8670, Jan 20, 2007.

  1. hey, does anyone know how much of a cut the swift trade branch managers get?

  2. This is what i have heard it is, i dont know if its 100% correct. I dont think a real swift BM will clarify it for you though.

    In china i hear the branch gets 70%, and manager pay accordingly, 10-15%.

    In Canada, i think the branch and HO split whats left over after the trader gets paid. So if the trader makes 10k, and gets 3500, the branch gets 3250, and HO gets 3250. If the trader has earn higher payout, the branch and HO gets less. Also, i believe the BM's get rebated the execution fee when traders are trainees, and once they graduate, that fee goes to swift's software company (cant remember name).

    Maybe someone else can confirm.
  3. pretty much what Szeven said.....the big difference is that in Canada the trader gets paid first....so after his/her cut then the rest is split between HeadOffice and the branch.......but once outside of Canada Swift's HeadOffice gets paid first...which i beleive comes out to somewhere between 30-34% depending on the month as fees are different each month depending on the amount of fees the branch owes HO. Then what ever is left after HO takes their cut is paid to the branch and they decide how much to pay their traders.
  4. john12


    so who pays for the branch? does it come out of the branch mangers cut? so if the traders in the office nets 40k a month at 33% payouts the bm makes 40k? what do you think the avg branch manager in canada makes?
  5. It's pretty close to what Szeven said. But from what I understand HO always takes 30% + execution fees that go to Corbita [that's the software company, they're located at HO too] even from canadian branches...

    However... I might be wrong...
  6. the cut goes to the branch....and then the owner of the branch pays the branch manager what ever he feels like. usually the branch manager is also the owner....in most cases.
  7. john12


    so madmunny what do you think the avg branch manger makes? is he netting 40-60k before office exp's? i've always been fascinated by swift. they have a damm army of traders doing 200-500k shares a day. its just incredible. swift must be doing 10-15% of all us shares per day?
  8. john12


    the fast-paced, high-stakes world of the stock market, Switina Kawadkaris a rising star.

    "My job is intense, exciting and fun," says Kawadkar, a proprietary trader with Swift Trade. "Success can be a relative term, but frankly, I am happy with whatever I have achieved so far."
    When Switina Kawadkar moved to Canada from Mumbai, India, with her husband four years ago, work wasn't easy to find.

    A modest statement for someone who trades between 700,000 and 1.5 million shares a day, altogether worth about $1 million. Trading shares on the NASDAQ, NYSE and AMEX exchanges, Kawadkar continuously follows market trends, researches institutions and monitors stock movements to determine what shares to buy, when to buy them and when to sell.

    She also has just minutes to make these pricey decisions. Her two golden rules are as follows: Keep a stock for an average of two minutes, but never for more than 10; and decide how much you're willing to lose on a trade ahead of time, and then staunch your losses as quickly as possible.

    She's experienced some costly losses, but she usually comes out on top.

    "Mistakes have cost me at times $400 in only two minutes, but a good strategy has led to making $3,000 in 10 minutes," Kawadkar says. "How much you net at the end of the day is all that matters."

    Things weren't always so prosperous for Kawadkar. When she moved to Canada from Mumbai, India, with her husband four years ago, work wasn't so easy to find.

    She'd assumed her successful six-year career back home working in arbitrage on the Indian National and Bombay exchanges would give her an edge. Instead, her job-seeking efforts were stymied by the lack of a work permit.

    "The employers wanted me to have a work permit in hand, whereas HRDC [Human Resources Development Canada] wanted me to have an offer of employment letter from an employer before they could issue me a work permit," says Kawadkar, 30. "As a result, I had to wait for close to two years till I received my landed residency status before I could even start looking."

    During those two years she achieved her certified financial planner (CFP) certification to build on her previous education. What she discovered when she began approaching employers, however, was that her Indian education -- and her years of industry experience -- counted for very little.

    "In a way it was a double whammy as neither my degrees nor my work experience from back home meant anything in Canada."

    But that didn't deter Kawadkar, who persevered on her job search and used employment agencies to help her. She wasn't going to settle for a job outside of her field until she'd exhausted all her options.

    Her search led her to Swift Trade, Canada's leading proprietary trading firm with 38 offices around the world. At first she was rejected by the company's Toronto and London offices. Then she approached its Hamilton branch with one request: "Just give me a chance and I will prove myself."

    She has already done so, many times over. Today, Kawadkar is one of the top traders at Swift Trade's Hamilton branch and consistently ranks among the top 10 traders in the entire company.

    She currently lives in Hamilton during the week and commutes to London on the weekends, where her husband has been pursuing his MBA from the Richard Ivey School of Business. She plans to continue building her career in the growing area of proprietary trading.

    But how is she so good at what she does?

    "Discipline, a good sense of timing, attention to detail and patience are the main contributors to my success," Kawadkar says. "Patience allows me to wait for the right opportunities rather than throwing good money after bad."

    For Kawadkar, it's a philosophy that has worked both at work and in life.
  9. john12


    does anyobody know her above. i have no idea when the article was written. what type income is she making?
  10. how much a branch owner makes at swift varies from $0 to a few hundred thousand a month. A large number of branches break even after expenses as they have only been open for less than a year but a few branches make millions of dollars a year for their owner. It all depends on the number and skill of the traders trading in that particular branch. Take the hamilton branch.....this time last year everybody knew that branch was making huge money with not alot of traders where as many chinese branches make the same amount of money but have 100 traders each bringin in small amounts.

    What the average is i have no idea but if done right it can be a very profitable business.
    #10     Jan 20, 2007