Traders at Investment Banks?

Discussion in 'Prop Firms' started by ndlarryj, Nov 6, 2003.

  1. ndlarryj


    Could anyone offer their thoughts as to trading for an Investment bank (or at least, firms that aren't strictly proprietary trading firms).

    2 in particular I'm interested in are Sandler O'Neill and Susquehanna Int'l Group. Has anyone worked with these firms?
  2. Maverick74


    Susquehanna is one of the best trading firms in the world. The smartest guys I know trade for these guys. Very very competitive.
  3. Ebo


    Just a thought.....If you can not get a job as a clerk/trading assistant on Susquahana's desk, Try getting a job on one of The exchange floors as a specialist clerk for them. They have a huge floor operation on several exchanges and it is possible, not common to work on the floor and work your way to the desk.
    I worked on the NYSE floor before migrating upstairs.
    Good luck.
  4. i'mlong


    I don't believe Susquehanna is an investment bank. I think they are primarily sales and trading. Do they now have an IB? Also, when you say not proprietary trading, are you really asking for sellside trading firms?
  5. ndlarryj



    yes, i think you're right. I think the 2 firms i mentioned are sell side. i know they both sell research. don't think they underwrite anything. know much about either firm?
  6. Ritchie in Chicago is pretty good.
  7. i'mlong


    i don't know much about sandler. i've done some business with susquehanna. from my experience and what i've heard, they are a reputable firm. of course, you know that they are in the second tier category. if you have any leads there, i would say that its worthwhile to pursue. sorry, i couldn't be more helpful.

  8. ahhhh, i wouldn't call susquehanna " second tier" .


  9. I agree. They have a reputation for being a a real progressive firm that really invests in its traders. Supposedly, they have their assistants play poker, study game theory, and rotate all types of trdaing, exchange, options, equities, etc..

    I had an interview 1 year ago, but it didnt pan out.. They seem very thorough... Their desk is in pennslyvania though, in case you didn know. that or be a sales trader at a branch or be on the exchange.

    I dont buy into all this 1st tier and 2nd tier crap anymore.. I tihkn it is desk specific and the people you work with.. Dont buy into "it isnt goldman.."
  10. is not an investment bank like Goldman or Morgan.
    They do not offer stock or do secondarys nor do they do M&A work.

    They are HIGHLY trading oriented, and now getting into institutional sales. If you are looking to trade for them, you better have a a good "quant" background because they are very much into the beta's, theta's, vega's and gamma's of the options and futures markets.

    Their bible would be:

    Option Volatility & Pricing, by Sheldon Natenberg, McGraw-Hill
    #10     Nov 7, 2003