Pardon my ignorance, but with regards to MS's FID how can they trade commodities? When I think of FI, I think of a source of revenue that comes in at fixed times. So, therefore I think of bonds. How can the FID be trading commodities and options, etc?
Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard.
-30 Rock
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Fixed Income = FICC in other banks
Basically, anything which isnt traded under Equities is branded under Fixed Income. Doesn't really make sense, but it is what it is.
It's just a convention.
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