Macquarie Houston Commodities S&T
Looking into commodities trading roles for SA recruiting next year, and wondering about Macquarie Houston.
because Macquarie is an Australian bank, do they take on prop risk with commodities like a trade house/HF (depending if you do physical or financial)? how does this role distinguish from a physicals trading grad program (if at all) or an analyst role at an HF (like citadel/baly/DE Shaw)?
also assuming there are limited seats, how many interns do they take?
Yes, they take on prop risk due to lack of Volker Rule.
It is different from a grad program at an oil major in that there are no rotations (hired onto a desk).
Do not know how many interns they take- it's a small office so I don't think there are tons of hires a year.
Small office, if gas, probably one of the best desks around.
how would you compare MacQ nat gas againt a TDP at like BP, Glencore?
Agree with the above. Former grad scheme person at a major, Macquarie is very good. Unsure on talent development but I’d be very happy getting that seat if I were you I think
Better than equities in Dallas?
Can’t speak on all of your questions, but do know there were 8 total interns in S&T Houston last year. Not all of those were trading, so certainly limited spots. Also know that it’s as good in commodities as any bank on the street. If you were to get full time you would just be hired to a desk, no rotations or anything. Same with the internship. Great gig for sure.
Have some experience, feel free to PM me.
Can you PM me, be user
Overall: One of the best player, strong team and incredible work environment (as indicated by the 0 turnover).
Yes not taking US deposit money + they have physical so tbh they are just another merchant player—consistently one of the best one too if Gas.
The program hires you into the desk to start working and anything else is mostly adhoc, but a lot of attention due to small intake so you won’t get any less than counterparts. Usually they just train one of the newer guy into a seat when needed.
Obviously seats are limited and numbers are pretty consistent since there’s never really been any turnover, at least not since the last few acquisitions—ppl are p happy. Intern might be on sales, financing, COO, trading team etc but like above—just work hard and find your opportunity.
Overall great experience with the interviews, the ppl were some of most pleasant ever, conversations were lighthearted and fun, they gave feedback, everyone seems to like it there, you’re gonna have a great time
Was your interview for summer 25? If so do you know if they are still doing interviews?
It’s for 24summer, I interviewed for 2 groups in CGM both in January of this year, process started somewhere between thanksgiving and winter break last year
Did everyone who applied for the 2025 program get an assessment to take last week?
Nope, how long between applying and when you got it?
I applied the first week it came out, got my assessment a little over a week ago
did you have your first round already?
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