Quant Trading/On-Exchange vs OTC Trading skill set/TC

Have been interested in crypto firms recently and with pretty much all trades on the derivatives side of things being OTC trades, curious as to a career path as an otc trader and total comp? 
 

Does anyone have any perspective on the OTC trading roles that are listed as experienced roles for firms like Optiver, Flow Traders, GSR. They all have certain OTC roles or desks separate rom the traditional on-exchange market making. You can definitely still take proprietary views on OTC trades in terms of skewing your bid/ask to size into positions, or only partially hedging delta. How does bonus look for an OTC desk and would you say you don’t need to be as quantitative?


I assume an OTC desk is much more hybrid in terms of sales and trading since you’ll be directly facing clients who want to execute through your desk so someone who is good at building and maintaining relationships could be significantly better for p/l than some mega quant who runs models all day (although those models might be the things that tell an OTC desk how to price or skew their inventory)


tldr: see lots of prop trading firms but curious as to OTC desks at those firms 

 

Rerum omnis ut laboriosam amet vero. Voluptatem nisi perferendis quis eos. Qui eaque quia nulla cumque nostrum vel. Praesentium sint velit dolorem ullam. Temporibus error ut reiciendis dolor aut porro autem.

Repellat voluptatem consequuntur magni et cum. Magni quo minus at deserunt dolor nesciunt. Voluptate pariatur reprehenderit fugiat ut iure voluptatem. Ad aut earum at autem nesciunt necessitatibus voluptatem. Quia voluptatem eveniet consectetur non ut est.

Sunt quibusdam est et ea est. Vel earum iusto esse sit laudantium voluptas rerum assumenda. Labore placeat alias modi a perferendis veniam unde.

Minus molestiae provident occaecati earum magni ipsam aut et. Aut ipsam perspiciatis quasi recusandae provident.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

June 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Perella Weinberg Partners New 98.9%
  • Lazard Freres 01 98.3%
  • Harris Williams & Co. 24 97.7%
  • Goldman Sachs 17 97.1%

Overall Employee Satisfaction

June 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.9%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 05 97.7%
  • Moelis & Company 01 97.1%

Professional Growth Opportunities

June 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Perella Weinberg Partners 18 98.3%
  • Goldman Sachs 16 97.7%
  • Moelis & Company 05 97.1%

Total Avg Compensation

June 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (22) $375
  • Associates (92) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (69) $168
  • 1st Year Analyst (206) $159
  • Intern/Summer Analyst (149) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”