Looks like a bunch of the firms you mentioned are just hft. I'm not sure but does GETCO for instance take prop traders who do some discretionary or non-hft trading? Also, seems like a few of these firms are looking for a capital contribution and then just give you leverage on top of that. I'm looking for a firm that wants ZERO capital from its traders and is looking to make money off their traders success, not nickel and diming them for commissions off their trading or charging desk fees, training fees, or any of that jazz. Now, I realize there are probably only a few shops around that are still doing that, but I guess I need to know which ones are in that space. Does anyone know if schonfeld is still doing this? Any others?
There are NO shops that will give you $10m with no money up! Keep looking, you won't find it. The topic has been beaten to death here. Why are you reluctant to put money up? Don't you have confidence in your trading?
Why are you looking for a prop firm with no deposit if you're returns are so good? You're going to be able to negotiate better if you can fork over 5-$10k. Something's not adding up so why not add the rest of the story.....
True prop firms don't take your money. A $10m allocation at these firms is not a typical allocation. You will need a large hedge fund for that type of allocation. Your payout will be much less then you'll be happy with. Good luck.....1245
to raise 10m, you will probably need to start a hedge fund and provide an investment offering. You will have to display your PnL records as well with the offering. It will likely run you 100k+ just to setup the fund to be able to find the investors. The firms I posted are the only ones I know of where there is a chance of you being fully-backed. Most others make money off rebates from trading commissions etc. etc.
Schonfeld still has discretionary traders. Also Kershner trading takes experienced guys and will give them at least 10m.
I know somebody who got a 25 million allocation from First New York with no cap contribution. He must be a super awesome trader!
FSNY is almost kaput. This must have been years ago. Almost all the big players there jumped ship including two of the partners. Nothing but a skeleton crew left.
What went wrong with fnys? They only had a few hundred traders that were hand picked and backed. What couldn't this firm adapt too ? What was their edge that made them a dying breed? Lack of volatility hurts every trader in the pocketbook, but these guys sound like they were on razor thin margins.
Schonfeld has more applicants than they know what to do with... "2013 Kershner Trading Group moves to a much larger space in midtown. Kershner Trading Group partners in a joint venture with SMBU and SMB Capital to grow our NY office, provide funding and technology to their legacy traders, and expand the training program for new hires in New York and Austin."