Program Overview  [[ Top ]]
First New York Securities, L.L.C. has a comprehensive 18-36 month training program for highly motivated people who have strong educational backgrounds, a passion for the markets, and are interested in a career in domestic or international equity trading.  The program is composed of 3 phases.

Introduction to Tools of the Trade (PHASE 1)  [[ Top ]]
In the initial phase of the training program, trainees will begin to prepare for their required regulatory exams, the series 7 and series 55. 

Trainees will also learn how to write order tickets, calculate profit and loss and reconcile trade discrepancies.

With the main focus being equities, trainees will also gain a basic understanding of various securities products such as: ADR's, equity options, as well as standard Nasdaq and other exchange-listed securities.

Once the necessary registrations are obtained, trainees are given instruction on the use of various systems such as the Designated Order Turnaround (DOT) System and Electronic Communications Networks (ECN's) including: REDI, Instinet, Selectnet, and Bloomberg Tradebook.

This phase of the program will last anywhere from 3 - 12 weeks.

The Mentor Phase (PHASE 2)  [[ Top ]]

In the second phase of the training program, trainees will be assigned to a mentor.  You will get one on one mentoring from the beginning of phase 2 until the conclusion of the training program (approximately 15-24 months). 

Your daily responsibilities will include:

• Electronic and verbal order-entry
• Monitoring order execution and dynamic tracking of portfolio positions and profitability
• Maintenance of daily and monthly profit and loss records
• Reconciliation of daily trade breaks and P&L discrepancies
• Corresponding with clerks and brokers on the NYSE, AMEX and CBOE
• Communication with brokers, institutional salestraders, research salespeople and analysts at major brokerage firms
• Researching and communicating with public companies
• Occasional attendance at company, industry and sell-side sponsored conferences

As a supplement to the second phase of the training program and our in-house training program (approximately 645am-5pm daily), trainees will have the opportunity to attend an in-house introduction to technical analysis class taught by one of the most knowledgeable traders on the subject.  These training sessions begin approximately 3-6 months into the program and take place one night per week.  The classroom training helps the trainees gain additional and valuable exposure to theories on technical analysis and trading.

In addition to the in-house classroom training, throughout the 18-24 month training program, the trainees will attend bi-weekly in-house lectures given by experienced, successful traders and management. Some topics will include, trading preparation and gathering information; trading psychology and dealing with stress; trading methodologies; option theories and analysis; and interaction with sell-side firms.


Trial Trading Period (PHASE 3)  [[ Top ]]
The trainees will be given the opportunity to trade the firm's capital and demonstrate their ability to earn money trading.  Each mentor evaluates the performance of his/her trainee and advises the firm if and when the trainee is ready to begin trading on his/her own. In order to graduate the training program trainees must demonstrate: discipline; the ability to comprehend and measure risk/reward; skill in handling volatility; consistent execution of well-developed ideas; and progressive improvement in profitability. This final evaluation phase of the program generally lasts a minimum of  5-12 months.

Compensation and Benefits  [[ Top ]]

• Competitive Salary and Benefits
• Medical/Dental Insurance Coverage
• Life and Disability Insurance Coverage
• Retirement Planning/ 401K Participation

Opportunities for Advancement  [[ Top ]]
After satisfactorily completing their training program, the trainees are given the opportunity to trade the firm's capital and are compensated based on a percentage of their earnings.

Additionally, traders whose performance establishes a long term outstanding track record may have the opportunity to become a partner of the firm.

Traders who demonstrate the ability to handle responsibility and excellent leadership skills may be considered for promotion to a Head Trader position.  This would give them the overall responsibility of monitoring the performance of a trading desk.

Applicants interested in the Equity Trader Training Program in New York, New Jersey and Stamford, please send resume and cover letter by e-mail to:

New York Office: nydomestic@fnysllc.com 

PLEASE DO NOT CALL TO INQUIRE AS TO THE STATUS OF YOUR APPLICATION.
All resumes are reviewed in the order in which they are received. If you submit by email you will get a confirmation of receipt of your resume.

To see a list of our Frequently Asked Questions (FAQ), click here.