Market making of ELN as a career
My current role: 3 years of experience at Macro structured notes origination for an American bank (top 3) in Asia. Desk doesn’t run market risks. Business has been good. Thick markup, PnL high.
Wanting to do something global, and closer to market risks. Feeling current role a bit sales-y and politics-heavy.
Got a soft verbal offer from internal. Role is based in New York - Secondary market equity linked structured notes market making.
Mostly linked to equity index vol. Lots of infrastructure building and data analytics to do - as this is for building a new franchise.
Title will be equity exotics trader - sounds shiny, but not sure how viable it is to build a business like this.
Heard that in the States the banks on the street have all started looking into risk recycling of ELNs. But my bank has expensive funding cost and no balance sheet - which presumably would make notes market making a bit tough.
Wondering if this will be a good career opportunity, whether it’ll bring transferrable skillsets and benefit exit opportunities.
Any advise will be appreciated.
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