Industry Insight Extern

Starts with a basic phone screen where you're either asked all simple fit questions (e.g. your role on a team) or a few basic technical questions as well (what happens to bond prices when interest rates go up, etc.).

If selected, the 2nd and final round for the industry insight externs takes place at their office in Jersey City. You interview with 4-6 other people consisting of a mix of people interviewing for the externship program as well as the full internship.

The interview starts off with a "video quiz" where you have to answer questions presented on a TV screen. Essentially, they show you a video that resembles a CNBC news screen with stock prices, exchange rates, and news updates. You have to answer a series of multiple choice questions regarding what's on the screen in 40 seconds. None of the questions are technical, and they're all mechanical in nature (e.g. If XYZ is currently trading at $1256 USD and has grow 6% since market close yesterday, what was XYZ trading at yesterday in GBP?, etc.). Not hard questions, but you do have to answer them quickly. You're given a calculator, or you can bring your own.

Those interviewing for the full internship then have to take an additional written test, but the externs do not.

This is then followed by a group presentation where the interviewer divides the group in half. You're assigned an asset class (equities, fixed income, credit derivatives, etc.) and given a copy of their annual report and have 20 minutes to prepare a 5 minute sales pitch to a potential investor in that asset class interesting in working with ICAP. This is then followed by a Q&A period with HR. Make sure you have a general idea of all the products/services ICAP provides and what their niche is (BrokerTec, EBS, Rematch, etc.).

Finally, you have a one on one fit interview with HR, which was pretty laidback.