Does anyone know any prop groups or high frequency traders who are looking to set up their own business? I'm in touch with a firm that is looking to seed high frequency traders who have good alpha and a high sharpe. The firm specialises in helping high frequency traders who want to establish their own proprietary trading business without the fuss of having to focus all their time on administration, infrastructure and connectivity or incur the costs of buying expensive technology, equipment and exchange seats. The firm will hire quantitative traders individually or in a group. The environment is silo based and IP is licensed. Salaries are paid and profit is shared based on a formulaic %. The typical deal will be significantly higher than the typical high frequency prop firm or bank and quant traders will be able to define their own environment. --Who should apply: People who are working in a bank or prop trading company in a high frequency trading group. Who have a successful track record trading their fully intraday (market making or statistical arbitrage or ultra high frequency) strategy.Who have a double digit sharpe ratio. Who are generating at least $10m P&L from their strategy. Who know the mechanics of the strategy. Who have been involved in research, back-testing, implementation and trading --The company can accommodate prop traders in Hong Kong, Chicago, New York and London.For more information ? contact j.kennedy@njfsearch.comText

QuoteOriginally posted by: jmsknyI'm in touch with a firm that is looking to seed high frequency traders who have good alpha and a high sharpe.Is this more like a growth in capital, or more like a contraction in sharpe? When a business is growing easy, you just add idiots from up the street and their brothers. When a business has stopped growing, or is contracting, is when I see managers get desperate to find new profit engines, and have a high turnover and burnout rate of employees.So between you and MavenAlpha, I am wondering if people are running out of ideas that work.It matters. Because if one of these "large hedge fund NY/CT with billions under management" is making -3% to 3% a year for their clients, then somebody with a working strategy should just take all their clients, and notify the landlord what paint color he wants when the existing tenants are evicted. Whereas if your people are making more money than ever, yeah, some geek with his little chart strategy should knock on the door standing as straight as he can, with hat in hand.They try to make it sound like the Ritz Carlton, but it may just be a bunch of desperate old men.

This relevant to high frequency traders who require technology and infastructure rather than large amounts of capital. This type of trader is probably not going to come from a traditional hedgefund, more likley a prop trading firm or prop desk that specialises in high frequency trading and market making.

So you are saying:1) They have money but that is not important,2) They offer a better profit split, and3) They are fast.Can you offer any metrics of how fast?

QuoteOriginally posted by: jmsknyThis relevant to high frequency traders who require technology and infastructure rather than large amounts of capital. This type of trader is probably not going to come from a traditional hedgefund, more likley a prop trading firm or prop desk that specialises in high frequency trading and market making.jmskny,I am curious about your proposal, would these backers offer high quality execution? Would they give you their costmodel to test your systems on first - in other words to see if your system will work on their platform, or is all that they're offering computers, fibre, office space, and a little prop capital (I mean after all HF doesn't require THAT much capital)

They offer high quality execution + the relevant infastructure and data to get up and running.

Sorry, I'm not able to give any specific figures at this stage and as technology/speed moves on quickly it would be out of date fairly soon. However, I can tell you that they have been hiring traders with speed arb and high frequency market making strategies from some of the better shops in Chicago.