Inter-bank Dealers?
Hello all,
Couple weeks ago, I watched a short documentary on an inter-bank dealer in my country(S. Korea) and got really interested in becoming one.
However, as I am not very familiar with this job and don't know any insider who I can talk to, I am posting my questions here.
If you know about this job or if you are currently working as one, Please help me out!
First question is do most BBs have inter-bank dealers these days? and if they do how many dealers work for each bank?
Second, from the documentary, I noticed that the dealers were basically trading spot and didn't seem to be trading derivatives or other complicated products. Is it same for other inter-bank dealers?
Final question is if I want to break into this position, how should I prepare myself (In terms of skills and internships)?
Thank you in advance!!
-persto
this post is off on so many levels---
theres on such thing as a inter bank dealers--
get the terminology right before u ask questions on here
this post is off on so many levels.
Are you correcting him on "inter bank" or are you not aware of the existence of interbank dealers?
.
there are indeed interdealer brokers and yes they can make alot of money. However, getting a job is very much an "inside market" and you arent going to find postings on career websites and the like. Often these jobs are passed within families and amongst friends...its almost like being a fireman in NYC, if your dad was one you probably become one.
You can look into companies that provide "bridge" technologies for people wanting to start interbank brokerage. Basically the deal is that bankes will not even look at you unless you are trading lot sizes similar to those traded by themselves. Classical brokerage try to match buyers and sellers within their own clients (therefore avoiding spread cost) and than pool together all surplus orders and throw them into interbank market. To do that though you would need a lot of clients to start with. What "bridge technology" does is pool together all orders from a lot of small brokerages and throw those orders into interbank trading platforms. This way you can start interbank trading with small number of clients accounts. One of companies offering this type of service is called Boston Technologies but I am sure there are other ones out there as the Forex bubble is growing fast. I have not looked into details of the whole deal but I am sure there are some financial requirements you would be expected to meet and some fees to pay. Good luck/
Nope, interbank dealers is another way to call a sellsode trader at an investment bank. Interdelear broker is diff ie icap cantor etc.
So wht you want is to become a trader at an investment bank, best advice sinxe u questions are sp broad is t jus browse these forums, thers tons of info
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