Visiting trading floor

I got invited to visit a desk and the trading floor at a BB. What would be some good questions to ask? What should i wear... i know many places chew new recruits out for wearing suits, should i not wear one then?
What would you guys expect from someone visiting your desk to get to know your product and team?

 

Email the guy and ask if you should wear a suit or business casual.

What product do they trade?

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 

No, blue shirt with white collar, red tie, and combed back hair.

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 
monkeysama:
Sorry, that was a joke. :P

Look closely at my profile pic and tell me if I was serious.......

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 

Unless you're going to Barclays, business casual should be fine, maybe put on a tie as well. As for what sorts of questions to ask, it really depends on the desk. I would just try to know what is going on in that market and be able to talk about the product somewhat intelligently. You don't need to know everything inside and out, just be sure to know enough to ask knowledgeable questions. Other than that, just be likable and know when to shut up and get out of the way.

 
downtown22:
Unless you're going to Barclays, business casual should be fine, maybe put on a tie as well. As for what sorts of questions to ask, it really depends on the desk. I would just try to know what is going on in that market and be able to talk about the product somewhat intelligently. You don't need to know everything inside and out, just be sure to know enough to ask knowledgeable questions. Other than that, just be likable and know when to shut up and get out of the way.

Is Barclays trading floor more formal? I noticed most folks in IBD wore business casual.

People tend to think life is a race with other people. They don't realize that every moment they spend sprinting towards the finish line is a moment they lose permanently, and a moment closer to their death.
 

Its a syndicate desk. Honestly i have no idea what they do yet. The only desk i finally somewhat understand is risk arb. But this one is still a mystery. How long are trades, what and how are they exactly trading?

The suspenders arent a bad idea, that will definitely leave a lasting impression on them.

 

Syndicate doesn't trade, it is mostly a sales and structuring role.

What product specifically does the group work for? Apart from that, downtown22 gave some good advice.

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 

Suit is fine. Yes, most of the traders and salemen will be more casual, but you are there to make a good impression. I was told by the BB traders that I visited to wear a suit. Bring copies of your resume, just in case. You will never know when you might fall into informal interviews with an MD. Treat the whole day like a big interview.

Know the basics. Understand the difference between what salemen and traders actually do. Nobody expects you to know shit. Be eager and interested and current.

Good luck

 
navyrugby:
Suit is fine. Yes, most of the traders and salemen will be more casual, but you are there to make a good impression. I was told by the BB traders that I visited to wear a suit. Bring copies of your resume, just in case. You will never know when you might fall into informal interviews with an MD. Treat the whole day like a big interview.

Know the basics. Understand the difference between what salemen and traders actually do. Nobody expects you to know shit. Be eager and interested and current.

Good luck

navyrugby is spot on here. Wear a suit. The biggest thing to have prepared is your story-- minute to minute and a half pitch of who you are, how you got interested in finance, and what you want to do. If things go well, informational sit downs tend to take on a new life of their own. If the junior person you are hanging out with likes you, he will likely introduce you to some of the senior people in the group... this should be your goal.

Syndicate desk is not S&T. Most banks it will fall under IBD. The syndicate desk underwrites the credit and equity products for corporations. They create it, S&T sells it.

 
shorttheworld:
they might not you let you sit for that long on the trading floor since a lo of the information youd be exposed to is proprietary or confidential to the clients....
That is true. however, currently I do have the access to all information on the desks since I'm interning on the price testing and valuations. Would you say 1 week is reasonable then?
Matt the Tiger:
... so you have a green light to sit with the junior trader... why do you need to ask again?
This one is during my internship, and my supervisor was nice enough to let me see the trading floor for a few days. I was hoping to know if can still sit with someone after the internship.

Appreciate further comments!

 

It has been my experience in my limited life, that if you ask for something reasonable or at least (eventually) reachable, people are very inclined to make it happen -- as long as it doesn't require too much effort on their part. I'd mention how much you are learning/enjoying sitting at the desk and ask the trader and supervisor that you would really like to stay on and keep learning for a few more days after the internship. What's the worst they'll say -- no? Who doesn't want an enthusiastic person learning for little to no cost?

Just my 2 cents.

 
STorIB:
It has been my experience in my limited life, that if you ask for something reasonable or at least (eventually) reachable, people are very inclined to make it happen -- as long as it doesn't require too much effort on their part. I'd mention how much you are learning/enjoying sitting at the desk and ask the trader and supervisor that you would really like to stay on and keep learning for a few more days after the internship. What's the worst they'll say -- no? Who doesn't want an enthusiastic person learning for little to no cost?

Just my 2 cents.

do this, if you really need to ask advice just roll with this...

 

If someone asked me if they could do this, I'd be asking myself "What do they hope to achieve by this?"

So, what do you hope to achieve by this?

Those who can, do. Those who can't, post threads about how to do it on WSO.
 

You truly gain nothing from visiting a trading floor. It might be kinda cool if you've never been to one, but it's really not all that special in my honest opinion. If the person is REALLY nice, they might set you up to sit with a few people who will talk to you in fragments because they're busy doing their job and at the same time wondering what in god's name you're doing there. There isn't gonna be any networking or anything...you'll sit and watch.

 
jv2324:

Kinda depends on which desks you'll be talking to. Most likely they won't try and drill you/interview you, although you should know where the S&P, the 10 yr, EUR/USD, etc. are all at. Also, if you're a guy, don't wear a suit. Looks weird on a trading floor.

i would say since he's going in to visit he should DEFINITELY wear a suit. they might bring you into a conference room and have you 'talk' to some people (i.e. an informal interview, but interview nonetheless). have a few copies of your resume on hand, be prepared but be chill. i got shown around the CS credit trading floor once and they were tossing a football around being pretty informal/fratty..i loved it

 

I've been on plenty of trading floors where people wear suits, although typically with tie and jacket in the cupboard.

I'd say wear a suit, but take of the jacket after initial greeting and carry it on your arm.

Those who can, do. Those who can't, post threads about how to do it on WSO.
 

For the love of god, please wear a suit and keep it on. Bring a portfolio, resumes and take notes/prepare ?s.

Have elementary knowledge of each desk but don't try to flex it. Ask good ?s and be likeable. Most importantly, ask for cards.

 

That's your job to do. Maybe someone mentioned it. But your should be keeping everyone in the loop of what's going on. Always let people you've visited know you'll be around and ask to stop by. Always see if you can meet face to face with the HR person managing the process. Also follow up with an email mentioning who you've met and you really appreciate the opportunity to sit in. That's how it ends up being tracked for sure.

Call your nerves by stepping back and figuring out what will be expected of you to impress them enough for an offer. Then budget your time and prep hard. They'll always throw a wrench at you so it is what it is. But your understanding of markets, current events, and trade ideas should be polished. You'll go in more confident if your prepared.

 

Congrats. I'm assuming this for some kind of summer analyst position, given the quick nature of the offer? It's absolutely appropriate to visit the floor. I've worked on various trading floors and it's common to see tours for groups of prospective campus hires.

As far as speaking to more people, it wouldn't hurt to ask. I'm sure HR could coordinate a chat with some more people if you need it.

 

Yes, that will work too. At the very least, they would schedule a call or something but it shouldn't be a big deal if you stopped by the desk to chat with the alum. If you're interested in the desk, it will be a good opportunity to see if that desk will be taking an intern for the summer and to make a case for yourself.

If they gave you an offer after just the first round, then they clearly want you and will try their best to accommodate you so you'll choose them over the others. In my opinion, assuming you get more offers, I would place a greater emphasis on conversion rate than anything. You want to get a better idea if the bank will actively hire from their intern class or are they just hiring interns to maintain school relations. Taking that into account now will save you a lot of trouble when it comes time for full-time hiring.

 

You can absolutely schedule an office visit. Also, make sure that you do schedule your visit during trading hours. This will give you the best idea of your day-to-day and will be when most people are in the office. It is very common to have meetings during market hours.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 

Having people come over for a couple of hours is more or less common, and no one will get mad by you asking, so go ahead, you have nothing to lose.

NorthSider:
You can absolutely schedule an office visit. Also, make sure that you do schedule your visit during trading hours. This will give you the best idea of your day-to-day and will be when most people are in the office. It is very common to have meetings during market hours.

I think it depends on the desk, but I don't necessarily agree with this. If it were my desk for example, and he has to be here on a specific day people might not be able to accommodate to a specific time as well. Also, they might get really busy and not be able to talk to you, or talk to you with a lot of interruptions. I would just ask about visiting the floor and they will probably tell you what time is best for them, and just go then. If you get the option to choose, then by all means do as NorthSider says, but I would try to go at around 10 or 13. Avoid opening and close, specially if you are visiting an equities desk.

 

You wouldn't buy a car without looking under the hood, would you? Yes and don't be shy about it either, if anything they extended you an offer and they might like the fact you are taking initiative to check it out.

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