About career path in inter-dealer broker industry

hi monkeys

I'm a graduate in 2011,China. now i received two offers from different area in finance industry.one is the inter-dealer brokerage company, this is a new industry in China, any specialist can tell me more info. about this position's career path and compensation?Did i need to read some related books for prepare this job?pls give me a list for it. I was plan to go to I-Banking,but my education background is not so good, so, if i work for brokerage company, can i transfer to I -Banking S&T Dept. after 3 or more year?

THX.

 

Brokerage to S&T isn't completely non-existent and I would think that since in the industry is in its infancy in China that move could happen. If you've been pitching something reasonably complex to traders for the past couple years, I don't see why with some networking you couldn't make the switch. There's not really a lot out there about IDB as far as I know. Be personable and have some sense of what products IDB firms cover are probably the biggest things.

Note that IDB is a solid career in of itself and that you really shouldn't post your picture on this forum.

 
GoodBread:
Brokerage to S&T isn't completely non-existent and I would think that since in the industry is in its infancy in China that move could happen. If you've been pitching something reasonably complex to traders for the past couple years, I don't see why with some networking you couldn't make the switch. There's not really a lot out there about IDB as far as I know. Be personable and have some sense of what products IDB firms cover are probably the biggest things.

Note that IDB is a solid career in of itself and that you really shouldn't post your picture on this forum.

Thank you for your kind help for this.Actually. the inter-dealer brokerage is a infancy industry in China, it began in 2007.Only have 4 companies here. I confused that is something I can convert to sales from the broker,not to be trader in S&T.thx

 
Best Response

[quote=GoodBread]Brokerage to S&T isn't completely non-existent and I would think that since in the industry is in its infancy in China that move could happen. If you've been pitching something reasonably complex to traders for the past couple years, I don't see why with some networking you couldn't make the switch. There's not really a lot out there about IDB as far as I know. Be personable and have some sense of what products IDB firms cover are probably the biggest things.

this is the business scope of company.Domestic and offshore foreign exchange market transactions Domestic and offshore money market transactions Domestic and offshore bond market transactions Domestic and offshore derivative product transactions Other businesses approved by China Banking Regulatory Commission In its first stage, the JV will provide the following service Currency Deposit CNY Deposit Bond Repo Cash Bond IRS FX Forward FX Swap Currency SWAP Interbank Borrowing and Lending/Bills

 

Those are all interesting products (at least in my book) and will help you build relationships with the sell-side. You actually deal with traders rather than the sales guys at banks. Sales people pitch trades to the buyside while you help match traders from different banks (dealers). Part of a broker's job is to entertain traders and build a good relationship with them. If you were to become one of the first IRS brokers in China, I would think you would build some solid contacts at a bunch of banks and potentially be able to make a move.

 
GoodBread:
Those are all interesting products (at least in my book) and will help you build relationships with the sell-side. You actually deal with traders rather than the sales guys at banks. Sales people pitch trades to the buyside while you help match traders from different banks (dealers). Part of a broker's job is to entertain traders and build a good relationship with them. If you were to become one of the first IRS brokers in China, I would think you would build some solid contacts at a bunch of banks and potentially be able to make a move.

I really appreciate your kind help.U give me a lot advices.I thik that build the ralationship and make friends with those trader will be the best solution for my career transference.Thank you again for ur help.lol

 

Depending on the product brokers are very similar to institutional sales. I worked at a inter-dealer but it was more like a agency only execution desk at a BB.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
 
trade4size:
Depending on the product brokers are very similar to institutional sales. I worked at a inter-dealer but it was more like a agency only execution desk at a BB.

lol....But BB is an important tool for fanancial people...so its same as inter-dealer. trade4size ,could you give me some reference books or articles to help me know this brokerage industry???Give me a list ,thank you very much.

 

ICAP has 'a day in the life of' type videos on their website

Disclaimer for the Kids: Any forward-looking statements are solely for informational purposes and cannot be taken as investment advice. Consult your moms before deciding where to invest.
 

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