The House of Dimon has allegedly begun “swinging the ax on prop traders, starting with energy group” with “around 40 people gone so far.”
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
I have a hard time believing prop at JPM is that big a liability. What’s with JD’s hatred of prop anyways?
the fin reg bill is doing just want this gov’t wants, creating more unemployment……way to go guys!!
@2 – yeah man, let’s hang this one on the fin reg bill. makes perfect sense.
Feed them to the lions!
@3 why dont you hang yourself
@5 – zing!
smart and funny.
Be vewwy, vewwy quiet…I’m hunting pwop twaddas
@1 – You don’t suppose the fact that they suck at prop trading has any part in the calculus?
JPM? Say it ain’t so.
What the hell is a prop trader?
CFA Candidate
its fine. Bernett Capital is hiring prop traders.
In Soviet Union, energy trades you!
true? layoffs going down now? crazy…
I heard from a friend of a friend of a friend, who knew someone who walked past a building where he thought bank prop traders worked and said bonus’ will be on a par with what delivery guys get at the Shake Shack. But dont take my word for it.
If Chuck Norris was a prop trader, he wouldn’t be getting fired.
@8 – What is calculus?
-Rebellion Research Quant
To think I was about to accept an offer to join those guys 9 months ago. They were making money, why fire them? Good luck with keeping any sempra guys around JD ( jackass ).
@16–Too damn funny!!!
That’s stupid. Should have spun it out like those previously bank-owned PE arms.
I’m the only one who is getting hired as a prop trader
-STAR
Merissa Ree see stars after being with me.
Plop Trader
You never get rid of energy traders. Ever.
~East Texas Gas Trader w/”Simple Jack” Haircut
@16 FTMFW!!!!!!
Hahahah, well played sir.
I have a friend who left citadel to work at JP Morgan’s exotic derivatives trading desk. Only 26 years old and made $500K this past year.
sim sima, who’s got the keys to Chan’s Bhima
@24 what’s the point?
@24 are they prop? I don’t get it.
You know what they say, you’re either PROP or you’re employed
Hondo.
Suck a cock Hondo
@3 read fin reg bill. Energy derivatives are going to have to be exchange cleared now meaning less money to be made on the OTC market for specialized products that actually hedge commercial risk for physical players. There will also be much higher CASH collateral posting requirements for the trades which increases the capital required to run the business. Makes perfect sense to cut because of this bill, since trading products will be less specialized and more capital intensive.
Commercial players might get caught up in this too, even if they use the products to hedge their commercial risk. It will be up to CFTC to determine how the rules apply to them. One thing that is certain is that prop desks at financial institutions are screwed.
Chappy > Hondo > CFA
Prop trading made me dizzy.
- Ernest Hartzell
How’s the newly-arrived Sempra crew performed so far?
@30 most energy derivatives traded institutionally are already exchange cleared via clearport… this shouldnt affect any traders are actually “prop” and not getting by scamming their high margin captive OTC/ISDA custies.
didn’t the sempra crew walk on day 1?
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