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Q: About how long does it take Trading Assistants to become Traders?
A: The average
time in a Trading Assistant position is about eighteen months, depending
on how much effort is given and how quickly the TA learns options pricing
theory.
Q: What are the other products you trade?
A: While we began trading options on the S&P 500, S&P 100 and NASDQ,
we've expanded our scope to include NDX 100, Cisco, AOL, Intel, Dell, Oracle,
MNX and QQQ. We currently have offices in Chicago and New York.
Q: What is the training program like?
A: At CTC, we believe training is the most important component to success
in your career. We've hired an expert trainer in the options trading field,
Sheldon Natenberg, to join our team. Our philosophy on education has two
parts; structured classroom instruction and "hands on" floor experience.
As a beginning TA, you will enroll in "The Basics of Options,"
an introductory course covering general trading concepts. Once you've mastered
the basics, it's on to the "Advanced Options" class. Here you
will learn the math behind options, complicated trading strategies, and
proprietary pricing models.
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Q: What is a typical day like for a Trading Assistant?
A: The TA's day will usually start and end with various clerical tasks such
as reviewing positions and checking trades to ensure accuracy. On the floor,
the TA plays the lead role in establishing communication between other traders
and risk managers. TAs position themselves at the perimeter of trading pits,
constantly communicating vital information to and from their traders to
the rest of the team.
Q: Describe your corporate culture.
A: While we take a very serious approach to our business, we believe that
everyone should have time for fun! We make sure that we are well prepared
when it comes time for the trading day, but it is a more relaxed atmosphere
thereafter. Our dress code is casual and our philosophy is teamwork. We
sponsor several all employee outings to help everyone "let loose"
and get to know each other outside of the average work day.
Q: How will electronic trading impact CTC?
A: Electronic
trading will likely increase the competitiveness, accessibility, and efficiency
of the marketplace. We will still be able to apply our strategies and concepts
to position ourselves as a leading market-making firm. The CBOE has long-term
exclusivity rights on the primary indices that we trade, so the effects
of the "electronic revolution" on our firm should be gradual.
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