Meeting with a VP of FI Repo Trading for coffee and was hoping to get a few more insights about the job and any questions to ask. I got a general grasp of trading itself but I want to learn about the repo side specifically. Thanks!
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Hi Partible, the silence is deafening, sorry about that.... Any of the threads below helpful?
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If those topics were completely useless, don't blame me, blame my programmers...
What are you looking to learn? I might be able to answer.
For treasuries and for credit bonds, how wide is the spread for internal trades (against rates/credit trading desk etc)
I can’t speak for credit but for treasuries, it can range from 3bps to 20-30bps and higher if you’re lucky (certainly doesn’t happen often). And it depends on multiple factors like time of the day and liquidity, if it’s just GC or a specific issue..
Thank you, for comparison, what is the minimal trading size and spread for 10 year on the run treasury? (Not repo rate, but the spread of the 10 year)
Also what’s typical trading size of treasury repo liquidity like
Trading size can be 1mm (min I have seen)upwards of billions depending on the fund risk limit and the haircut that’s used for that issue. As for the spread, if it’s the current issue, it tends to trader richer to GC and it varies by day.. if I understand your spread question correctly, if I didn’t, let me know and I can try to elaborate a bit further.. but for me, I only look at repo rates, so this is from that perspective.
Sorry I meant what is the bid-offer spread of on the run treasury bond, and what is the bid-offer spread of the repo rate of such treasury bond; for comparison sake.
I thought min bid-offer spread on on the run 10 year was like 0.25bps or something so I was surprised that the GC bid offer spread is 3bps upwards… basically I’m trying to estimate how much notional repo trader trade to reach 100mio annual budget lol
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