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.
is based on interviews with 100 hedge fund managers, prop desk traders and other asset managers to forecast their anticipations for distressed debt in the region over the coming year.
was selected by a London-based Prop Desk to receive QuantFEED, the QuantHouse end-to-end ultra low latency market data solution.
Meridian wants] to support a lot of the managers that are spinning out of prop desks to start their own funds.
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.
Some of this demand was satisfied by teams coming off of sell side prop desks.
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.
We are thrilled to join forces with MarketFactory to provide FX trading gateway software to our global trading customer base of leading investment banks, hedge funds and prop desks," says Hugh Hughes, Chief Executive, Fixnetix.
Since it's founding in 1996, Tradar has supplied over 170 portfolio management systems to hedge funds, prop desks and family trusts worldwide.