|posted: 10/20/2021 at 5:22:02 PM ET|
Proprietary best proprietary trading firms/ gained prominence after the late 80s alongside hedge funds. Before decimalization in the 1990s, Prop firms still had to be wired into the exchanges or the investment banks to place their trades. This is why prop firms were concentrated in the leading financial districts of Chicago, New York, San Francisco. They also required a physical office as well as specialized equipment like a Quotron or Bloomberg Terminal.