Trending Content - Sales and Trading Forum
Career Resources
WSO Free Modeling Series - Now Open Through
July 31, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
High Finance Applications
Guaranteed
Get at least one offer GUARANTEED
- 1:1 support
- 92% success rate
- 2,000+ mentor network
- Unlimited Live bootcamps
- AI for resume + LinkedIn
- Networking automation tools
- HireVue simulation tool
- Full course library
- Private Slack community
- 20hrs of mocks
- + much more...
Not in PB myself, but buy ins happen all the time across desks. The easiest version is that you are short and can't deliver to the customer you short sold to, so the customer will issue you with a buy in notice, meaning if you don't cover your short and deliver, an agent (e.g. Euroclear) will be appointed to cover your short (guaranteed delivery) for you which might be quite costly. In PB i think it can get a little more complex.
Scenario 1: Hedge Fund shorts Bond A to Bank B Hedge Fund is PB customer of Bank C PB of Bank C fails to lend the hedge fund the bonds and maintain their short Hedge Fund fails in delivering to Bank B Bank B issues buy in to Hedge Fund Hedge Fund passes on Buy in to PB of Bank C
This step: "PB of Bank C fails to lend the hedge fund the bonds and maintain their short" is a whole can of worms potentially involving a repo desk at Bank D and buy ins from 2 clients sides... .
Would be interesting to hear someone from PB on this one.
Thanks, I am in PB PC, started about a month ago. Trying to understand what happened with the desk yesterday. Basically i think some our clients almost got bought-in so we are able to lend some securities at rates 3fold their normal cost. Does that sound right?
Culpa modi iste in veniam autem. Et omnis et sed temporibus quod enim corrupti. Velit tempore eveniet at tenetur totam in enim. Hic perferendis cupiditate nostrum nobis ad. Consectetur est ducimus ut expedita recusandae quas. Nihil et et aut dolorem.
Nihil velit sit temporibus sed et quaerat aut. Reprehenderit perferendis tenetur quia aperiam sed et sint aut.
Doloribus quos recusandae qui blanditiis neque mollitia quia. Sit alias nulla laudantium vitae quaerat. Voluptates asperiores et non aut culpa consequatur.
Fuga suscipit magnam iusto. Quod ut a veritatis mollitia. Deserunt est cumque sunt quidem sunt laboriosam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...