Different Desks on the trading floor
Looking to put together a thread that details all the possible desks on the trading floor, including any IB/Capital markets roles such as ECM and DCM. If you're currently on a desk, please share some details as to what the role entails and what types of clients you deal with. Any/all information would be great!
Debt Capital Markets (DCM): Working in the business of advising corporations and governments on raising money in the debt markets. Generally DCM is split into an origination role (very similar to investment banking) and syndication (more of a markets role). Origination is responsible for working with the client to satisfy their debt capital needs and requires consistent market updates and bond pricing updates. The role entails lots of pitch work (particularly at a junior level), On the syndication side, you are playing the liason role between investors and companies, to ensure a deal can get done at the best terms for both parties. In DCM, groups can be split into high yield and investment grade coverage, although this will vary from bank to bank.