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HELP REQUIRED - GUIDANCE: COMMODITIES TRADING
Dear all, In brief, I have been working for around 2 years in the Middle-East in trading of soft commodities (physical) and I have acquired various operational & business skills in trade finance, logistics, market research, and business development. Prior to that I had worked for 4 years for a...
Role of Quants in Credit Investing/ Trading: ABS, Structured Credit, Corporate Loans
The evolution of credit trading electronically and potentially automatically is all but guaranteed. What are current Credit HF , and other investors/ trader of credit doing at the moment on automating credit trading? • Banks • Regional banks • Finance companies • BDCs • Institutional...
Deutsche Bank €5.9 Billion forex proft in 2008
Does anyone have knowledge they can share on the DB (C. Bittar trader) fx trades made in 2008? I haven't found much on the topic on here, and think it's a worthy subject to delve into given the level of risk and consequence it had on DB . What was the strategy and logic behind the trades and could...
Best Way To Start Learning Quant Finance?
Hi Monkeys, I recently caught the quantitative finance bug so it’s been a few days since my last post. Since catching this bug I’ve been trying to read and learn as much as I can on ways to practice quant finance - and I found tons of material. In fact, it’s so much material that I was hoping...
Transition TA to Trader - Time to Switch Shops?
General question for those who may have been in similar situations. Been at a buy side shop for about 5 years, past 3.5 as a trader's assistant. Handle a good variety of responsibilities for senior traders - aside from booking trades also price discovery, market analysis, implementation analysis,...
Books/Research/Anything to help prepare me for Proprietary Trading job in New York?
Hi all, I am a senior in college and I graduate in May. I am thinking of starting a position this summer at a few different reputable prop trading shop in New York. Does anyone recommend any books/research/articles/advice to read and prepare for before I start that have been in the prop trading...
30-Year Anniversary the 1987 Stock Market Crash
The Crash of ’87, From the Wall Street Players Who Lived It This article flashed across my terminal the other day, and I thought that it was one of the best pieces I've read in a while. Anyway, I thought it was really cool/insightful to hear about the stock market crash from market luminaries like...
Institutional Sales Analyst Job Description and Overview
For many, institutional sales offers the best of all worlds: great pay, fewer hours than in corporate finance or research, less stress than in trading, and a nice blend of travel and office work. Like traders, the hours typically follow the market, with a few tacked on at the end of the day after...
KZ Map: A new initiative from KZ Cash, Asia’s Fastest Growing Cryptocurrency
KZ Cash is Asia’s fastest growing cryptocurrency with over 25000+ visitors on their websites. They have shown a lot of potential in past some time. I bet you have never seen this much growth in this lessen time. The last time I checked they were at 2.9 USD for one 1 KZC. They have estimated 1000...
Traders: Finding Weather Data for EM Countries to trade Commodities
Note: not about trading weather futures. For the guys on the FICC desk or the experienced personal traders, how do you guys analyze the weather in a different country like Brazil if you don't have a Bloomberg Terminal? Trying to find a good website that I can use to trade commodities/FX out of a...
Group Trading Game
For an upcoming interview I have a group trading exercise. My understanding is that there will be multiple fruits and a group of candidates as market makers. I have seen similar posts to this on WSO however I can't seem to find anything that explains how this game will actually unfold or what...
Difference between physical trading of crude oil and refined products
Hi all, I’m a final year high school student with a strong interest in the physical commodity trade. I was just wondering if there is any difference (in cargo sizes, day to day tasks etc) in role between a crude oil trader and a products trader or are they basically identical? Thanks in advance...
London Fixed-Income Trading Entry Level Grad Scheme - Final round interviews - Japanese Bank
Dear WSO Gurus and colleagues, After a successful 1st round Fixed-Income ST phone interview with a Japanese bank I was invited to their London office for a final assessment for a Trading role. As I was informed that a competency based interview together with a case study and a technical interview...
RBC Global Arbitrage & Trading
It's time someone at least attempted to shed some light on this group. This is RBC (Royal bank of Canada; Canadian equivalent of GS)'s prop trading desk. The group is apparently very impressive/profitable and even after the financial crisis, when banks were pressured to offload their prop desks, RBC...
Leaving a company after less than 12 months
How bad does it look for you to leave a company after less than 12 months? I would be leaving for the same role but with a larger firm and a significant higher comp package. I plan to work there 18 months before attending bschool.
Work offer for authors of articles on trading topics
New crypto startup is searching for traders who are willing to write articles dedicated to cryptotrading Our team is now developing the decentralized platform for margin trading which unites token holders with various portfolios and aims to allow various volumes of transaction executions under...
Transition from Air Force Intelligence Analyst to Investment Analyst
I'm a 20 year old Australian Intelligence Analyst looking to break into investment analysis after my 2 years of service here in the Australian Air Force. I'm interested in Investment banking and Commodities trading . How marketable are my service skills in the financial industry? I'm not looking to...
capital cost of stating a trading desk
Hey Monkeys, Hope everyone is enjoying the holiday season. I am curious as to the expenses a bank incurs to start a desk. I guess an example of what I am looking for is something like this: cash equities desk: flow trading initial set up cost for 3 trader operation + sales + ops = $5 million total...
S&T: % of P&L to bonus
Hey Monkeys, quick question. what is the average % of P&L that converts to bonus? I have heard ranges for BB S&T between 5% and 25%. a level and % would be good. I will update the list as it populates. for example: Ao produces $1 mill net at 12.5% would get a $125k bonus that year VP produces $2.5...
reporting trading P/L to future employer
Hey Monkeys, I have a quick question. How do you report and verify your trading P&L to a future employer? For instance, let's say you made the desk $1.5 mill net. besides writing it on your resume and hoping for the best, do you get your desk head to verify it? I am just curious as to how people...
Someone explain a CAT bond to me
Hey all, I have an interview coming up with a company that consults organizations on issuing CAT bonds. Could someone explain to me, in simple terms, what a CAT bond is? From what I've read online, it's pretty much when an insurance company issues a bond w/ a high interest, and if a catastrophe...
Do I still have a chance? 3 days after assessment centre/superday
I had my assessment centre last week on thursday and its currently tuesday - I haven't received any news. Do I still have a chance (no news for 3 days)? I interviewed with UBS sales and trading ...
Job Recommendations at MS
Deleting as links provided are relevant enough for my question. Thanks for the help.
Cargill Reputation
I was just offered a position as a Commodity Merchant intern at Cargill. I was wondering what the reputation for the company in the physical trading space.
Eminem's Rap on Trump: Good or Bad?
Last week I wrote a post which mentioned the potential to buy equity in Eminem's music catalog from 1999-2013. Since writing that post, Eminem went on the BET Cypher and lashed out at Trump with his freestyle called, " ". In light of this new information, the value of Eminem's royalties immediately...
Can I trade if I work for a publicly traded company?
I have been trading stock options in my personal trading account for over 3 years. I am currently looking for a job as a data analysts/data scientist. If I get a job with a publicly traded company in healthcare (or any other industry outside finance) can I still trade? Are there any restrictions I...
Am I allowed to trade without restrictions in my personal trading account if my LLC works on a project for a major bank?
I own a software development and data analytics LLC. If I work for a bank via my LLC can I trade stock options (leveraged) in my personal trading account? Do I still need pre-clearance in this scenario? Are there any restrictions that I should be aware of?
Masters Programs (Quantitative Focus)
Have a background in FX and Rates trading (non iBank)--End goal is trading/research at macro fund--what is the best masters to pursue (statistics, FE, or financial mathematics?) or are the latter two relatively the same. Heard focus of FE programs is option pricing and the like??
Does my S&T offer fit into my end goal?
Hi guys, I have an offer in S&T from a BB but I am skeptical in taking it. Here's why: As I have just graduated, I believe that in this point of time I should be focussing on skills development/opening doors rather than salary, as this will come eventually with the former. I have an engineering...
Shell Trading Development Programme Assessment/Interview
I just received an invitation to take the Shell TDP assessment, and I was wondering if any TDP alum can share their insight. Also, I hear the interview is brutal.. so if anyone has anything to say about that I would appreciate it. Thanks
A PM that refuses to show marketing deck w/o NDA
Hello, Long time reader and posting out of a little frustration. I work with an HF as a capital raiser and our PM has a unique strategy completely uncorrelated from credit/equity which is still an emerging opportunity with a lot of potential. My issue is when I reach out to allocators he refuses to...
Rate My Odds Of Trading Analyst --> MBB (Resume Inside)
Hi all, I'm a washed up trading analyst 1 year in wanting to break into MBB. I'm doing well but there's a lot of uncertainty on my role looking 1-2 years out. I'm doing well and already have a moat preventing me from being fired... but who knows. The short (true) story is that I was direct hired...
How to be a Millionaire Trader
We all know that Wall Street is extremely competitive as it is. There are people fighting for summer associate internships at less known banks to gain enough experience in their sophomore year, to then apply for a junior summer associate position at a company like Lazard , (Investment banking wise.)...
Risk Per Trade in Macro Investing
I have read a few books (and online resources) on macro investing but I still don't have a good grasp on the concept of risk per trade. Could you help me understanding it please? (below are a few thoughts I have on this). I find the consensus advice from the legends and pros is that that traders...
Prop Traders: What do you wish you knew before starting?
I'm in the process at the moment with a small but well reputed futures prop trader (discretionary not algo) in Europe (no money up, long time to learn the ropes). It looks exciting but incredibly challenging, they put the success rate at 55% but I assume it to be lower. It would be great to hear...
Trading Positions Outside of IB Appropriate for Bachelor's Degree-Holders
What are some trading roles outside of IB that require a bachelor's degree? I understand that there are trading desks at HF , but what is the likelihood of someone who has little to no job experience in the finance industry getting on a trading desk at a HF?
Updated Prop Trading Rankings?
I'm sure there have been tons of these posts before, but I know that rankings/prestige/relevance change over time. I'm wondering how people would rank firms like IMC, Jane Street, Optiver, DRW, Belvedere, Wolverine, Peak6, Akuna, etc. now. Have certain shops gained/lost prestige over the past few...
Blackrock Fixed Income Trader
Hi guys, I am currently a structurer on the sell side non BB . I do get to trade but mainly for hedging and execution. I do not run my own P&L, though I expect that to change in a year or two. Recently, an opportunity to join BlackRock at their Trading & Liquidity Strategies as a fixed income trader...
H1b transfer at investment bank
Right now I'm a junior trader at a highly reputable prop shop. I'm currently on TN status as I am a Canadian citizen. I was selected for H1b this year and awaiting approval in the summer. After H1b approval, if I decide to uproot and leave for an investment bank in sales, sales trading, or trading,...
Interviewing for Trading Support: Need Advice!
Hi everyone, I am currently a 1st year analyst working at a very niche commodities research shop with limited to zero growth prospects ahead career-wise given how small and lean my shop runs. Recently, I've acquired the opportunity to interview for a commodities role at a large investment bank....
FT Commodities Summit 2017, they finally uploaded some video
I've spent all day watching this. If you're interested in physical commodities, there's a lot of great interviews and roundtable discussions from the FT commodity summit. There's content that covers both minerals and oil and gas, and all of the heavy hitter big trading houses are represented. I'd...
Ask Eddie: Should I Bail On My Trading Job?
Every now and again I get PM'd a question that I think might be applicable to a lot of you on WSO . When that happens, I get permission from the person who asked me to share with the site. This is one such time. I suspect a lot of you can relate to this feeling, so here are my thoughts on it....
LSE MSC RISK & FINANCE VS. IMPERIAL MSC FINANCE
Hello Everyone, I would like to work in investment banking or trading and am having trouble in deciding between masters programs: LSE for MSc Risk and Finance and IMPERIAL for MSc in Finance. I am wondering which one would help me best in landing a trading analyst or investment banking job. LSE is...
Back Office Operations Offer for a startup Quantitative Hedge Fund, Should i Take it?
I want to get into FO (obv as fuck). I have never been glued to anything other than wanting to trade. Never liked IB , Credit. Liked modelling but always loved trading . Currently working as a Credit/Finance Analyst for a P&C carrier. And recently got to second round of a growing quant fund for BO...
Career Opportunities for Finance Undergrad considering Quantitative Finance?
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Finc Deriv's class
Looking for either a very good online or in person financial derivatives class to take in Chicago. Want to try to avoid having to apply to a place like Booth. Not sure if any thrid parties that arent exactly universities offer anything like this or if anyone has taken a class similar that they...
Short Selling: Worthwhile or Not?
Most people short sell to profit in a bearish market and hedge the downside risk of a long. But, along with its appeal, come its many risks. A short position can be closed out at any time because the stock's lenders are demanding its return. A short seller also has to pay lenders for unpredictable...
UK London Trading Qualifications
What kind of professional qualifications do you have? Did you have to complete it to become regulated?
Masters in Statistics vs Data Science for broad exit opps?
Hey guys, I'm thinking about choosing between MS in stats or data science for a target quant trading job, then eventually maybe machine learning jobs in other industries like automobile or government. Which degree would give me the most bang for my buck on my resume in terms of broad job...
Advice for Incoming BB First Year Sales and Trading Analyst
Hello, hope this note finds everyone well. I am incoming 1st year sales and trading analyst at a BB in NY , but unfortunately did not get the opportunity to intern in S&T last summer. As such, I feel as if I am a little behind the 8 ball. I was wondering if any sales guys or traders have any advice...
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