Prime brokerage equity finance trader
didn’t see many posts about prime brokerage trading. Is it less hot than other asset classes? Pay/bonus/reputation/work life balance also worse ? Anyone has insight to share ?
Role Overview
The role exists within the Prime finance trading team which is responsible for managing and optimizing corporate actions, funding, liquidity and balance sheet usage of the business. This is fundamental to maximizing profitability within the binding constraints of financial resources.
The candidate must be an outgoing enthusiastic personality with a demonstrable interest in financial markets and a strong desire to be a front office trader.
The successful candidate will have a very strong work ethic, be a team player with a problem solving mentality and a willingness to learn and to get "stuck in".
The Trader's Role Will Include
Responsibilities
- Trading financing markets on derivatives for single stocks/index.
- Managing and trading corporate actions.
- Trading stock borrow loan.
- Risk management of the prime business; FX, cross-currency basis, interest rate, dividend etc.
- Understanding and managing financial resources; Balance sheet, capital & liquidity.
- Book management to ensure inefficiencies are minimized.
- Producing market commentaries.
- Evolving existing processes and workflows through automation.
The Successful Candidate Will Possess The Following
- Prime Brokerage Industry expertise - knowledge and awareness of the market, cash and synthetic financing landscape.
- Middle Office or Product Control experience.
- Self-directed, highly motivated, ability to work independently - knowing what to do, how to get it done and willingness to \"roll up your sleeves\" to deliver.
- Team player and leadership potential- ability to engage senior business partners across geographies and functional disciplines and partner effectively to deliver comprehensive end-to-end solutions.
- Excellent written and verbal communication skills. Ability to effectively target messages to different audiences.
Bump
I would also be interested In hearing peoples thoughts on this.
Prime trading is relatively stable and you don't take much if any risk. You can make decent money in it as you get senior though.
A quick google shows that this is from JPM. I believe this is the desk that specifically handles trading around corporate actions (via stock loan, synthetic funding etc). A lot of prime desks like to hire from middle office because operational knowledge is important. Also, they aren't looking to hire rockstars since those don't stick around.
thanks. as I understood it seems you'd make less (less bonus, same base) if you were a junior in Prime Brokerage compared to other asset classes.
One thing I don't fully understand is how the rock stars (in other asset classes) become what they are? Do they really take a lot of risks (and how so) while the banks can't have prop trading anymore?
And I guess for prime brokerage trading the exit opp is relatively limited and at most L/S positions in hedge funds?
On the risk-taking, I think many other threads address it better. Prime you just make money on the financing spreads. People tend to stick around in Prime as it's relatively stable and exits are limited. Some move to portfolio finance functions at hedge funds.
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