More Prop Shop in Chicago…

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These days more and more proprietary trading firms are opening up throughout Chicago.

Most of the firms that are opening up have more of a focus into options trading and foreign exchange (FOREX), and most of the individuals opening up the banks are people from the large investment banks.

According to Fintan Quill, many of the proprietary trading firms have the money and knowledge to compete.  The new wave of prop shops is clearly taking advantage of the move into electronic trading through options and foreign exchange.

Some of the top shops are purely about speed and efficiency.  The level below that focuses on bringing in quants and applying mathematical techniques by utilizing algorithms.

While this is a national trend, there is a stronger presence throughout Chicago, and that’s mainly due to the derivatives industry already being based there.

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