Prop Desk

Prop Desk

Slang; traders who buy and sell securities on behalf of the company they work for, rather than for that company's clients. Their incentive is to profit for the company rather than for themselves or their clients.
References in periodicals archive ?
Meanwhile, the deception deployed by US dark pool Pipeline - it claimed to match client blocks against each other when it was really running a prop desk - led to greater board- and client-level interest in how buy-side trading desks executed stock trades.
Devoy said, 'Daniel has significant trading experience in the commodity arena, having developed strategic trading ideas for the Citigroup iron ore and steel trading desk, Merrill Lynch prop desk and the Apollo Metals Fund.
Lit pools that aren't backed to the hilt by firms with prop desks are going to have a hard time of it.
Stephane Leroy, head of global sales and marketing at QuantHouse, said, 'Hedge funds, Prop Desks or CTAs are more and more moving away from using trading tools developed internally and start to recognize the value of buying external trading technologies provided by leading edge providers.
Reacting to the bill, one source noted that outlawing banks' prop desks would create a '"buyer's market" as assets were sold off, adding that the net effect of removing trading firms from the market would be negative.