Any prop firms in London trading stocks?

[ChocolateDigestive]

Hey

Just wondered if there are any around. It seems there are stacks of prop firms in the US but less in Europe.

choc D

 

[Hotch]

There are a couple doing HFT. Other than that, I doubt it.

 

[Parky]

Yes but not many, the reason being Stamp duty on UK stocks which is why most would trade via a CFD, the funding required, as paying for stock on a DVP basis is expensive, requires leverage and so is inefficient and the platforms for stock trading are generally brokerage tools with little or no risk management which is why most prop houses do not offer access to the cash markets.
Most traders would trade stock futures or the index products instead but as I said CFD's are the usual derivative for traders wanting to trade individual stocks and shares.

 

[henryley]

I don't know what site exactly has the regulations for their stocks, but you can always google it, search
by keywords United Kingdom - Financial Markets or just go to google, click on more, and
click on finance. Thus you can find the desired data of the London stocks and other useful information which will help you to improve your financial knowledge.

 

[ChocolateDigestive]

Yes but not many, the reason being Stamp duty on UK stocks which is why most would trade via a CFD, the funding required, as paying for stock on a DVP basis is expensive, requires leverage and so is inefficient and the platforms for stock trading are generally brokerage tools with little or no risk management which is why most prop houses do not offer access to the cash markets.
Most traders would trade stock futures or the index products instead but as I said CFD's are the usual derivative for traders wanting to trade individual stocks and shares.

cheers parky. cfd's are horrible, such a shame about the stamp duty as I reckon tons of day traders in the UK would love to trade UK stocks. oh well we will have to stick with US stocks and keep to strategies where the latency isn't prohibitive. futures are all right but gash if you want to momentum trade. ho hum.

 

[ChocolateDigestive]

Yes but not many, the reason being Stamp duty on UK stocks which is why most would trade via a CFD, the funding required, as paying for stock on a DVP basis is expensive, requires leverage and so is inefficient and the platforms for stock trading are generally brokerage tools with little or no risk management which is why most prop houses do not offer access to the cash markets.
Most traders would trade stock futures or the index products instead but as I said CFD's are the usual derivative for traders wanting to trade individual stocks and shares.

Hey Parky

You seem to know something about UK share traders. I would love to trade UK stocks, I am trading US stocks at the mo which is great it would be great to trade the UK morning session then the US morning session then finish for the day.

For my strategies to work with UK CFD's I would need to have direct market access and a CFD commission of around 0.5p per share maximum, do you know of any prop shops, outfits, CFD providers that do this?

Thanks in advance

ChocD