very interesting article about ID broking----what goes on---
and the quite exorbitant pay they get---
seeing as they work less hours as S+T,,,are in most cases not as smart as their clients,
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the interdealer business is totally different then the rest of wall st. very old school in that many of the players dont even have college degrees and to get in you often have to have a family member or friend in the business. This isnt like "sales and trading" where they want ivy league people.
where do I sign up for this job?
Eat what you kill is the industry. When lehman went down, guys on money market/repo side brokers were starving.
Energy brokers are beyond starving these days, but yes they did rake it in during the enron days.
lol wait a second, this is from May 2008? Most of these guys are prolly jobless and broke right now.
lol i remember when this happened. Tradition hijacked the CDS desk it was really ugly. Im not sure how it turned out in the end. Typically an interdealer broker has a niche
GFI - CDS/Equity options Cantor - Government bonds Tullet - Energy ICAP - Exotic derivatives/ currency tradition - vanilla credit
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