An MD I was speaking with mentioned they may have positions on their Short Term Trading Desk. Is it safe to assume this may be the Securities Lending/repo Desk or is there something I am missing?
Thanks
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Probably meant STIRT (Short Term Interest Rates Trading)
Yeah I would guess its STIRT ie mostly Fwds or libor products I would think.
Besides the Rates group, it could also be the short term desk in the credit group-----handles commercial paper and similar short term debt.
If I'm thinking of the right group they most basic definition is they build the depo curves which are used to price fx fwds in my experience, if i had to put money on it that would be my bet, but I guess different banks refer to different areas using Short Term Trading.
Yeah, I would put money on that also, but if the MD was in credit then it was most likely the desk I was talking about.
If it's FI, you are probably dealing with repo, cp, short-term tsys, agency discos and potentially some other stuff. A lot of liquidity, but I believe its typically one of the least profitable desks.
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