Dealing Room Facility

B

beekeeper

Registered User
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Does anybody know of dealing room facilities available in Dublin to rent. I am looking to set up a small trading team but require the standard facilities preferably in a room with other traders. We would require phone/web access and reuters and/or bloomberg access in a typical trading environment. Any advice woul be greatly appreciated.
 
Moved from Savings and Investments.

Surely any office space and internet/stock data feeds would do? Otherwise what is so special about a dealing room facility compared to any other office space?
 
I feel Savings and Investments is the best forum for this question as people who are reading this would be best placed to help. There is a huge difference between a normal office space and a dealing room facility. There are numerous systems required in a real dealing room such as reuters and bloomberg feeds. These are both very expensive and sometimes very difficult to get for startup companies. In addition, if a new company was to get access to these feeds they can be a few seconds slow and this can make all the difference in certain markets such as FX. Besides the systems when trading it helps to be in an environment where the other people in the room are like-minded.
I would appreciate if you could put my question back on the Savings and Investment forum,
 
Are you looking to rent space in an existing dealing room and work off their feeds? No bank I know will ever do that. Why would they?? As clubman says, why not rent a small office in the IFSC where you know the IT ifrastructure is in place (not that it matters where you rent) and set the feeds up yourself. I know people that have bloomberg and reuters set up in their home office without any performance problems. They are expensive but surely if you are starting a trading business, these are essential costs and you must have significant capital in place????
 
Beekeeper has a point to a certain degree - the Bloomberg and Reuters access that people would have at home, and even in non trading offices, wouldn't be trading access, even though it may be "live" price feeds and timing may make a difference in some cases - in a previous career I sometimes had arguments with clients who were comparing prices they were seeing on Bloomberg with the prices I was seeing on the exchange.

Unfortunately, as far as I know, none of the trading rooms in Dublin offer space to rent. The individual companies put a lot of money into their infrastructure and contingencies and would probably be unwilling to share unless they were able to charge penal rates. Also, you may have compliance issues to address as seperate legal trading entities would need to be kept seperate physically and intellectually (ie concrete and Chinese Walls).

A possible option is to look at the space currently taken by Intercontinental Exchange in the IFSC - they are terminating its currency futures open outcry floor trading next month so there might be some options there (no pun intended )
 

The physical location of the machines doesn't matter though. Its not the location that makes the prices "live". I could start a business tomorrow in any office and get the same systems in place as any bank if I was willing to spend enough money. It really depends on what he is looking for and what he is going to be trading. How far advanced is this "trading business" idea? What are you going to be trading?
 
Thanks for all advice.... Traders are all living in Dublin so that would be preferable but i suppose we could travel to a certain degree. It will be a foreign exchange trading desk which is why quick or live feeds are essential. A bank would not be a runner because of the points mentioned above however there are some other trading floors in Dublin which I am looking o speak to with a view to hiring a desk.
 

If you're hiring a desk and using existing BB terminals etc make sure you have your contracts with the data vendors agreed and defined - some vendors may not allow seperate legal entities to share access. You'll also need to source your custodian and presumably you will need agree comms / access with them maybe via SWIFT, but that is expensive so fax might do?
 
beekeeper said:
A bank would not be a runner because of the points mentioned above however there are some other trading floors in Dublin which I am looking o speak to with a view to hiring a desk.
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You might be able to do something but I was involved in setting up my company's operation here in Dublin and I never saw anything like that on offer. We rented an office and built the IT infrastructure from scratch e.g. phone provider, internet, bloomberg, reuters, SWIFT, trade booking etc. Its expensive but essential. As pointed out above, banks pay alot for their intrastructure and I am also sure they are also licensing issues with regard bloomberg and reuters for anyone to allow you use their platform
 
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Lots of day traders rent a desk in london, these are setup by the big trading companies.
I know a guy who used to day trade on his own in Dublin, I will see what setup he had.
 
beekeeper said:
I feel Savings and Investments is the best forum for this question as people who are reading this would be best placed to help.

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I would appreciate if you could put my question back on the Savings and Investment forum,
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No. It's basically an Askaboutbusiness (business premises) query so belongs here.
 
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