Question about commodity S&T position at bulge bracket bank

I was hoping someone could provide some direction on what these terms mean? These are different functions of the S&T program at one of the banks I am applying to. These positions are typical at most banks such as GS, JPM, etc. If someone has some in depth knowledge of how these functions play a role in the bank's S&T operations, it would be greatly appreciated.
These are in reference to a commodities S&T position.

Marketing, Origination, Structured Products, Principal Investments.

Any advice on these terms would be greatly appreciated.

Comments (2)

Best Response
Oct 1, 2013 - 6:17pm
blender, what's your opinion? Comment below:

Varies from firm to firm but in general:

Marketing: Selling a particular commodity on behalf of a source (refinery, ethanol plant, crude wells, mine)

Origination: Buying (sourcing) a particular commodity on behalf of client/your own internal short.

Structure Products: Broad term but mainly dealing with the trading or market making of instruments with more complex pricing structures--this could be a simple WTI-Brent spread or a RBOB Gulf coast basis swap with NYMEX trigger.

Principal Investments: Investing (longer time horizon than prop trading) firm's own capital in companies, funds, commodities and anything else that can make money.

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Oct 21, 2013 - 9:53pm
Anonymous Monkey, what's your opinion? Comment below:

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