How do you approach recruitment, and do you prefer to hire experienced traders or newcomers to the market?
Chris Hehmeyer, founder, Goldenberg Hehmeyer: For the last few years, we've offered classes for proprietary traders. At certain times of the year we advertise for those classes and we get a large pool of applicants; of that, we'll take eight to 12 traders. We prefer new people, rather than people from the exchange floor. For the most part, we want people without any preconceived notions about trading or biases. People often ask what the criteria for recruiting are. It was something we've tried to quantify a hundred times but it's hard to quantify heart: a lot of the world has the same trading tools so to find something that is successful and implement it requires desire. The hardest thing to find these days in recruitment is that desire.
Sonny Schneider, chairman,...