Execution Trading or "Outsourced Trading"?
Little background, I'm not up on the finance industry and how jobs compare to each other as I've worked as a financial journalist for the last several years. However, due to some connections, I have a potential opportunity in execution trading for an outsourced trading firm. Not sure which desk I'd be on but obviously I'd be a junior trader/trading assistant.
I've been searching WSO to find some info on how this business works, but it seems most people in this role are traders at hedge funds, rather than outsourced trading firms.
Because I don't have anything at all resembling a target background, I'm 100% taking this position if I get the offer. If nothing else it's an interesting position with great learning opportunities, giving me much better exit opportunities than I have now.
As I understand it, these firms primarily handle execution for smallerthat don't have the budget for a trading department on their own. So the workload is primarily working orders, shopping around blocks, and keeping abreast of market events? I imagine a deep understanding of and which ones to use for given market conditions, as well as being able to interpret order flow are skills I'd be building.
I know this industry has changed dramatically over the last two decades with theof easily accessible and cheap execution algos, so in reading posts here from 2013 and so on, I'm skeptical some of the insights are completely relevant to today's environment.
Can anyone in the trading world give me some insight on how outsourced trading firms, and execution trading in general, fits?