Silver BananaTopicReplies
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WSO Hall of Fame: Trading Forum The Wall Street Oasis Trading Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the trading industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please navigate here. If you th...
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Trafigura Graduate Programme 2018Has anyone applied for Trafigura's Graduate Scheme and if so has anyone heard anything about their progression/omission to the next stage of recruitment? ...
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Citigroup - Interview - Sales and TradingStock price of Citi on that day VIX on that specific day What would you do if you are a trader in a hedge fund and half an hour before the market opens, you get a piece of information that the 10% of your total portfolio of which you hold a specific stock in Asia's market is only worth 10% of its cu...
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Question about Hidden OrdersHey guys, I have been looking into HFT and had a quick question about placing hidden orders. If I place a **HIDDEN** order to buy/sell on the **OPEN**...are any high frequency trades / algorithms able to see/find my order? Any help would be greatly appreciated. Thanks...
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JP Morgan Securities - Review - Prime BrokerageGood work life balance with many benefits to the employees especially starting relatively junior in the firm.. Big organization that can be hard to navigate as a junior level employee. Must network and build relationships with people....
IMC Financial Markets - Interview - Trading1. Probability questions about coins, cards, and dice. Lots of focus on having the right theoretical textbook approach instead of bootstrapping an explanation. Need to really understand the basics/foundations, especially of EV, variance, law of large numbers. 2. Backwards induction/thinking. Not mu...
Goldman Sachs - Interview - Prime BrokerageWhat would you do if your MD ask you to share a confidential client info off record that we knows you have knowledge of? What is the Black Scholes Model? My answer was I would first confirm with the client/source of my info that this is confidential. Then go back ask for anything else I could work o...
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BNP Superday Global MarketsIf anyone had a super day with BNP and could provide any insight on it, it would be really helpful. ...
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Akuna Trading Intern - Final RoundHello all, I currently have a final round web interview scheduled with Akuna for a trading position. I was wondering if anyone had any insight into the type of questions they ask and good ways to prepare for them. Many thanks in advance....
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Best S&T desks at CitiI was curious what the best or most prestigious desks are at Citigroup to do an internship on? I saw the previous threads, however just wanted an update. It looks like in the past rates, IG credit, municipals were the strong points. Is that still the case? How is the mortgage desk at Citi btw? All ...
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Prospects of agricultural and soft commoditieswhat's the prospects of ags and softs traders compared to the oil, lng or gold guys? is it underrrated at the moment? those in this field please share! thanks...
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Flow Traders' Math test Hey !! So I've my Flow Traders' Math test coming up in a few days and wanted to know a substitute for tradertest since its no longer active. I have tried arithmetic zetamac and getting decent enough speeds at it but it doesnt involve decimals and i fear that may be my undoing. I request anyone wh...
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Deutsche Bank - Interview - Equity Capital Markets1. Tell me about a trading, option, or hedge strategy which you devised via coding. 2. Why do you want to work with this company? 3. Tell me about a time when you were asked to do something you had never done before. How did you react? What did you learn? 4. Describe a situation in which you embrace...
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Jane Street vs CitadelGot trading intern offer from Jane Street Capital and Citadel. Any insights on each company's intern program and which one is better for future career?...
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Jane Street Capital - Interview - N/AThere was really nothing unexpected from the interview. The first Excel assignment was difficult in a way that the question prompts are somewhat vague. The phone interview was very easy. For the VBA assignment I had to learn VBA from scratch but all together the problem took less than 4 hours. The o...
Jane Street Capital - Interview - Equity Capital MarketsIn the first interview I was asked the common bus question. A bus makes 3 stops and at each stop three quarters of the people on the bus get off and 7 people get on the bus. What is the minimum number of people that can be on the bus to begin with? In the second interview I was asked what is the pro...
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Recruiting for Prop TradingI'm currently an undergrad attending a target public school and have been seeing lots of trading opportunities being posted on our job boards (DE Shaw, SIG, Jane Street, etc). I'm currently majoring in mathematics and information systems with around a 3.7 GPA and am seeking a full time role. By back...
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BMO Capital Markets - Review - N/Auuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu. uuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu...
IMC Financial Markets - Interview - Prop TradingThe most difficult question was about solving an elevator algorithm problem. The interviewer gave me 2 different elevator algorithms that both did the same task except that one algorithm prioritized customers that pressed the button first, verse whatever floor was closest was pressed. From there h...
Bloomberg - Review - Trading- Company truly embodies the intersection of technology & finance - Great snack pantries & soup offered daily at the main office - Does a good job following its mission of transparency & that's reflected in the architecture of the offices - Reasonable hours - Lots of great internship events over the...
Goldman Sachs - Review - GeneralistHey It was a wonderful experience, Who doesn't like getting paid you tell me brother that too at Goldman. A lot of work, toxic culture, all the people digging money, no out of work relations at all. These were the cons...
HSBC - Interview - Equity Capital MarketsDescribe a time that you were faced with a problem and how you solved it. They also asked to solve numerous math questions that required alot of converting currencies. They gave you the conversion rates and everything that you needed they made sure not to make the math difficult but made sure that ...
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BNP Paribas Global Markets Best GroupsHey guys, just received an offer for 2019 SA at BNP Paribas Global Markets (S&T). I'm looking for some insight into some of the groups to see where my interests lie/best fit. I'm looking for something with a more macroeconomic view but I'm not that familiar with the day-to-day basis of the groups. A...
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STC Series 7 (41st edition) and 63 (42nd edition) Books For SaleBoth barely used, trying to get rid of these ASAP. Asking $120 for the pair OBO. PM with offers. Located in NYC....
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Commodity Trading is DeadI currently work as a physical commodity trader at a large, international, trading house. Trading is dead. Most desks are printing massive loses. There is no volatility in the market and most commodities we trade suffer from massive oversupply. Baring a massive exogenous shock, I don't see it ch...
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CIBC World Markets - Interview - Sales and TradingAsked me a brain teaser about how to price a call option - apparently, you are supposed to try and understand the question using probabilities and multiply the probability by the total upside you predict in that stock/index. Be ready for the brain teasers - they really show how well you are equippe...
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Biggest Trading Mistake - storiesmy worst mistake...my first real job in my trading career at a new ibank on the Treasury Trading desk (was my 2nd job in a trading seat, but the 1st job i was the junior guy and didn't really take any significant risk, and didn't have a P&L budget to make), so i was making about 100-150k per day (on...
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JP Morgan Securities - Review - Equity Capital MarketsGood work environment Good team The structure is good for mobility, so there is plenty of opportunities . Bonuses lower than other firms. The payment structure is designed more to keep you there but not so high that you can leave...
Susquehanna International Group - Interview - OperationsDescribe a time you improved a process. Describe a time you were under high pressure, how did you deal with it. Interesting news story in finance, will be asked to describe how this news effects certain financial instruments. Need a knowledge of finance for this. Asked to walk thru your CV and descr...
Cargill - Review - CommoditiesGreat people, care about their employees, hours are good and they give their junior level people lots of responsibility.. Pay is pretty low, starting locations are pretty bad to start a career. Very bureaucratic because of how large the company is and how things are run....
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CMT as a complement to CFAI just took level II of the CFA a little over a month ago, and I'm thinking about taking the CMT as a complement to that. I currently work in Product Control, but I want to break into trading. Is the CMT worth the time/money as a complement to the CFA? Does the CMT make me a more attractive candidat...
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ontario teachers pension plan - Review - Capital MarketsGreat team, amazing learning environment, lots of opportunities for growth, very smart people to look up to. There weren't many cons to working here, lots of positives, only negative would be that it is in north york...
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Market making group exerciseHi, I have an interview coming up that involves a group exercise, I'm guessing that it's going to be a market making game. Does anyone have any links or resources that show and explain how such a game would work? Thanks ...
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JPMorgan Chase - Review - RatesCollegial environment of directors who genuinely want juniors to learn and take responsibility quickly . High stress, lasting anxiety, steep learning curve without adequate support to learn, high margin for error with high stakes ...
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Diabetic on the jobHi all - I'm new in S&T. I'm also a type 1 diabetic. While I keep my A1C in good check, I have the occasional low/high blood sugar swing. Being on a sales desk, I worry that at some point having low blood sugar will impact my ability to think straight and I may misquote a large trade or otherwise do...
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Vol Trading @ PropFor people in the industry, lets say you're joining a prop firm to trade single name or index vol, not market making to make off the bid-ask spread. You have no quants, no modelers, etc... Is it possible to trade without the use of volatility modeling? Are you trying blind? ...
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Morgan Stanley - Review - N/AGreat learning opportunities as long as if you’re willing to put in the time and effort. Job is fast paced and will rarely leave you bored. Long hours and early mornings, especially if you’re in one of the debt groups. Lots of meetings with lots of memos...
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Why doesn't everyone invest in index funds? Can someone explain to me why every non finance professional doesn't just invest in low cost index funds? how can you beat the market when there are institutional/hedge fund investors that have more info about companies than you've ever dreamed about? The S&P has beat the majority of hedge funds, ...
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Bank of America Merrill Lynch - Review - Distressed DebtGreat time, great hours, good location, great city. Good network and great exit opportunities. Good compensation. Too regulated of a industry to do proper trading based on fundamental analysis. Bank is too timid in taking risk to make substantial profits...
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Important Resume Question: For non-target undergrad students, should impressive AP scores go on the resume? I went for a very specialized degree at a non-target undergrad public university (very few schools have the program). I am wondering whether AP scores should go on resume, particularly if I have them in the 3 hardest AP classes (Physics C: mechanics, E and M, Calc BC and some liberal arts ones). I...
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Break into tradingHi, I am currently working as a valuation analyst outside of wall street. I have always wanted to get into trading but have never been able to crack the code. I went to an smaller school and because of a very fun first two years in college don't have an impressive GPA. I'm trying everything I can...
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Need advice on how to make a transition into grain tradingHi, I need advice on how to best transition into a physical trader at my company from my current role in commodity research Background: I'm in agribusiness space for more than 5 yrs. My current role is in commodity research, prior spent a few years in grain procurement with strong track record. MSc...
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forex , crpto currency and binary investments and investors for beginnersGood day all I nearly lost hope. I lost my job few months back .the world was coming to an end for me till I heard about Mr baileyaart1199 @ gmail dot com and his trading system so I took his email address then I went through the process I pledged five thousand dollars behold I made a rich profit of...
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Binary Options Trading or FX Trading?Hey guys, I am relatively new to investing and I have been trading in the foreign exchange markets occasionally making money, and occasionally losing money. I am very interested in currency exchange so I find all of my research captivating. I recently stumbled upon binary options and was wondering ...
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Goldman Sachs - Review - SecuritiesGS is obviously a strong brand on your resume. Exit Ops are great. Traders can leave to go to top prop shop like Citadel. Mentorship culture is strong, and you can learn a lot from the people here.. Nothing much so far. If you are looking for a job like this you already know that work life balance c...
IMC Financial Markets - Interview - Prop TradingElevator algorithm optimization. Thought this was unexpected for a trading role. IMC does love to ask about optimization problems, but the elevator one seems more standard for software engineer interviews. Various questions like "what is an elevator that operates on a first come first serve basis op...
Scotiabank - Interview - TradingNothing that was unexpected. Tell me about the market. Tell me about ___ industry. Tell me about yourself. Walk me through your resume. Please explain this specific skill you listed on your resume etc. I felt like I was in control of the interview and could steer it whichever way I pleased. There we...
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2018 Sales and Trading Recruiting (Intern)Hey guys, there's too much IB and not enough S&T. So lets get a thread going on the recruiting timeline for Sales and Trading. Comment below with any info that you have. Feel free to ask questions along the way!...
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Preparing for interview process at Flow TradersGot selected for a math test at Flow Traders. I get about 65/75 in 10 minutes @ TraderTest (custom, one operation). What are my chances? Has anyone else taken it?...
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Optiver - Interview - Trading**Numerical tests:** - First part 80 questions in 8 minutes, easy questions but you have to be quick. Benchmark 54 points, you get deducted 2 points for every wrong answer and have to make them in order. Skipping questions not aloud, but if you only fill in till for example question 60 the last 20 ...
JP Morgan Securities - Interview - MarketsThey really expected me to know a lot about markets. Grilled me about my internship experience and cut me off many times to see if i could still stay calm and answer questions. Apparently i did not stay clam and i was panicking. Asked me a couple brainteasers and probability questions. another thing...
Exxonmobil - Review - Oil & GasGreat benefits, really smart people to be working worth. Amazing new Houston campus and a changing culture.. Still slow to change, working with HR can be extremely slow. Noticeable difference between the older generation and newer generation....
Bank of America Merrill Lynch - Review - OperationsI lived in New York City. I will not ever regret living in New York City, regardless of my negative experience at BAML.. Doing job function I did not sign up for. External recruiters are either malicious or incompetent for selling role that is not what its supposed to be....
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Non BB SA -> BB FT?Hello Everyone, I've been lucky enough to have just accepted a US Equity S&T SA position at a smaller MM bank. Coming from a semi-target I am very happy with this position but I am hoping to break into a larger bank for full time. What is the timeline for full-time recruitment? Does anyone have exp...
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Goldman Sachs - Review - OperationsRelocation bonus, location- SLC is gorgeous, & downtown SLC has alot of good food. That's about it.... Mainly everything surrounding working in ops. This SLC branch should not have the name Goldman Sachs. ...
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Stocks Tumbling - An October Revolution?Hi all, October 10, 2018. What a day it's been for equities -the Dow is on track for the worst drop in a week since April. What do you guys think? Is it FINALLY time for a market correction? Do you guys think earnings season will bring back momentum? what does this mean for the future, especially f...
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Difference Between Strategy Desks and Trading Desks in Fixed Income I have previously been to a BB's fixed-income trading floor and was able to have a very quick glimpse into the majority of desks. One that really interested me was a strategy desk that seemed to have a smaller team than most of the other desks. Since I didn't have long to speak to everyone there I w...
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DRW Trading Group - Review - Quantitative ResearchGreat summer internship overall. Nice people who cared about growth which was important to as a summer intern. . N/A ...
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Citi 2019 SA S&T Phone Interview QuestionsI have an upcoming Sales and Trading phone interview with Citi. Can anyone who went through the Citi S&T process tell me what their interview process was like? ...
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Junior Rates Trader Interview prep/QsI am 3rd year rates trading analyst in a non-BB looking to move to BB rates trading. From those of you who have made a move or who have interviewed similar level candidates, what would be your advice? The interviews are with EDs/MDs. **How best to prepare for such an interview? What questions sh...
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Middle Market IB Trading Desks?I'm curious if anyone has any insight on working at a MM IB in S&T. I've got a superday coming up for a junior trader role at a MM bank. I'm coming from private equity, but I'm much more interested in trading or sales at this point in my life and struck out at the BBs. I assume the there's quite a ...
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Akuna Capital Math Test? (And Interview Process)I've applied for a junior trader position with this firm, and so they've sent me an email with directions to take an online mental math test. Does anybody know what the Akuna test is like, specifically? Can't seem to find too much information about it online. All I know is that there is a 22 minu...
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After how long at a job can you start looking for another one?I'm 4 months into a credit analyst role and hate my group. I'm really looking to break into markets but was wondering how my resume is going to look with 4 months at a BB... any one have any experience with this?...
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Salary Expectations For Prop Trading FirmsI'm wondering what prop traders actually make at tier 1 firms (Optiver, Jump, JSC, Citadel, etc) vs at tier 2 firms (Akuna, CTC, Belvedere, Consolidated, etc). It is extremely difficult to find good numbers online as glassdoor does a great job of underestimating the salaries. If you're an average tr...
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From poker to prop-tradingA little bit about myself: I'm 21 years old and a rising senior at a small (yet selective) liberal arts college, though certainly not considered in the realm of a 'target school' for prop-trading. I'm also returning from taking my spring semester off of college in which I played live poker full tim...
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15 Career StepsLongtime reader here, left the biz in 2012. I thought I'd give back and post some good advice that was shared with me by an older mentor when I was younger. Learn it. Use it. Live it. Hope you find it helpful. 15 CAREER STEPS 1.) Perception is everything...act as if. 2.) Never give them a reaso...
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BB Trading Spots Left?I just found out that loads of people got BB trading offers in May. Do I still have a chance coming from a non target school? I'm looking at JP Morgan in particular for FICC S&T....
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Adjusting the quote prices for a market makerSuppose a market maker quotes a price and executes a trade. How should he adjust the prices given his current position, say he is 1 lot long? ...
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Always assess the minor factors of the Forex market Every trader knows the trends are always changing but why so few people can make the money? The result will be explained in this article and it will also tell you why the market needs to be in check. The traders mix up the concept of checking the trends and overtrading the market. The first concept ...
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IMC Financial Markets - Interview - N/AI applied online and was asked to do a phone interview soon after. They asked me about my resume, the usual, and then asked me a few general questions about data structures, nothing too complicated. For instance, they asked me about how a HashMap works. After that I was invited to Chicago for an on-...
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Optimal spread of a market makerHow does a market maker decide his optimal spread on a commodity and what are the risks involved for a Market maker in this business?...
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Bips vs BeepsHow do you guys refer to basis points? I've had an internship where "bips" was the standard and am taking a class right now where the professor exclusively uses "beeps." This professor has been teaching ~30 years but has never worked in industry whereas my coworkers had been for 10+ years. ...
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Akuna Capital LLC - Interview - CommoditiesIt started off as basic math questions such as 5 times 5, or 5 minus 9. However, it gradually built up to triple digit multiplication, and division problems. For the sequences start brushing up to answer questions such as "What is the next letter in this sequence: A, C, D, E, ?" You are not allowed ...
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Designing and Training a NeuralNet for trading algosi've recently gotten the machine learning / neural net bug and have decided to take the plunge. I have a set of trading strategies (mostly uncorrelated), mostly technical analysis based, where the base data is footprint data (price - qty bought - qty sold) at short intervals...about 5 seconds (so...
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Deutsche Bank - Review - Sales and TradingGreat team and very manageable hours. Good pay. Good access to clients and management teams. Interaction with all divisions of the bank.. Low morale, turnover higher than industry standard, uphill battle trying to gain share vs other banks. Sense of being a "2nd class citizen". Virtually impossible ...
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Should I send in a copy of my trading journal with my resume?Hi all, I'm recently about to graduate from a non-target Australian university with pretty shitty grades. Been day trading for the past year and a half and have managed to make a living off it busting my ass in front of a screen for >14 hours a day. As a result I have 0 connections, 0 internships ...
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AMA - 3 years software development to Power trading analyst at a supermajorHi..long time lurker, wanted to share some of my experiences going from software development (.NET c# and SQL development) and into a front office, trading analyst role on the power desk of an energy supermajor (bp/shell). for folks that have untraditional backgrounds (studied engineering, comp sci,...
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