Quant Trading/On-Exchange vs OTC Trading skill set/TC
Have been interested in crypto firms recently and with pretty much all trades on the derivatives side of things being OTC trades, curious as to a career path as an otc trader and total comp?
Does anyone have any perspective on the OTC trading roles that are listed as experienced roles for firms like Optiver, Flow Traders, GSR. They all have certain OTC roles or desks separate rom the traditional on-exchange market making. You can definitely still take proprietary views on OTC trades in terms of skewing your bid/ask to size into positions, or only partially hedging delta. How does bonus look for an OTC desk and would you say you don’t need to be as quantitative?
I assume an OTC desk is much more hybrid in terms of sales and trading since you’ll be directly facing clients who want to execute through your desk so someone who is good at building and maintaining relationships could be significantly better for p/l than some mega quant who runs models all day (although those models might be the things that tell an OTC desk how to price or skew their inventory)
tldr: see lots of prop trading firms but curious as to OTC desks at those firms
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