| Topic Name: |
First new york securities |
| Message Name: |
deal flow |
| Date Posted: |
11/19/2003 |
| Message: |
gastrader (or any others in the know), in regards to your previous post, I have a question: What is the difference between prop trading at a smaller shop like FNYS and at a BB? In other words, you mentioned deal flow - do the true "prop traders" at BBs execute these client orders as well as trade their own account? Or is there a seperation of duties between traders?
My impression of a prop trader is strictly trading the firm's risk capital, not necessarily executing client orders. Obviously, there is no deal flow at a place like FNYS. Does a prop position trading exclusively firm capital for the traders's account even exist at BBs?
Any insight as to how this works would be appreciated.
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