Hi guys,
I have some knowledge to what an Execution trader does from a bulge bracket perspective
(i.e. get the orders from buy side and try to execute it and try to achieve best price).
Any insight as to what an Execution Trader does at quant/systematic fund or a hedge fund? Is it a good role?
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Execution Traders are the exact same at a hedge fund, but they work in-house. They are the ones executing on platforms or giving the orders to the sell-side to work.
Even if your strategy is algorithmic or not-trading heavy (e.g. long only), it's very helpful to have someone dedicated to purely watching the markets. They can resolve trade breaks, locate hard borrow, manage soft dollars, and all the good stuff that comes besides clicking the button.
It's an okay role - career progression is limited (your goal is to become head trader), but you are alpha-generating at the end of the day and most funds compensate you accordingly. While you may not make direct buy or sell decisions, I'll often talk to our traders to see what's on the tape and maybe re-size or enter hedges/swaps depending on their color.
Our traders make a material difference in our performance and I'm very glad to have them.
For those firms that are more systematic/algorithmic, do you know where an execution traders value come to play? Can the role be more data driven / do some analysis type roles?
An execution trader is told by X shares. The key is they don't generate investment ideas or make decisions on what to buy. It's a good role for new grads, but you're siloed away from the people generating ideas.
What is the typical pay for the head of execution at a ~$50B AUM firm?
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