Silver BananaTopicReplies
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JP Morgan 22nd June Superday Has anyone heard back from the markets superday that was held on 22nd of June. Was unable to talk to recruiters so don't know when we are supposed to hear by. ...
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Morgan Stanley - Interview - PowerExcel test was tricky. They gave a bunch of data and asked several questions. The questions included creating several charts and pivot tables and summarizing the data. We were allowed to google formulas but it was timed so I ran out of time quite quickly. The rest of the interview was relatively ea...
RBC Capital Markets - Review - Valuation* Great access to senior management * High deal flow across groups * Great mentorship program in group and out of group . * Long hours, past typical IB hours * Less modeling experience across coverage groups * Very debt driven ...
Wells Fargo and Company - Review - OperationsJob security Low cost of living at trading headquarters Friendly and cordial business partners Visibility to leadership. Job security for low performers or troublemakers Trading headquarters location relatively boring Too lean of an operation...
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Best Desks at BAML // Baml vs. JP Morgan Summer Intern Which desks are the best desks at Baml? Thoughts on Baml vs. JP Morgan? I can probably get a better desk at Baml and higher ft return rate. Better culture at Baml too, but JP has a better reputation overall. ...
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JP Morgan FT Markets Program Application Opening?Anyone know when JP Morgan's FT Markets Program opens up to applications? Internship program is open until early September. GS open's August 1st but JPM doesn't give a date....
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Goldman Sachs - Review - CommoditiesGood culture. Flexible schedule. Good benefits. Plenty of room to be entrepreneurial. Recognizes those who add value.. Stale Senior management. Slow comp progression unless you force them to pay you. Too much power in middle office....
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Market Noise or a Lead to sell off for Chinese ADR? [quotes]The U.S. Treasury Department is drafting curbs that would block firms with at least 25 percent Chinese ownership from buying U.S. companies with "industrially significant technology," a government official briefed on the matter said on Sunday. [/quote] This would reduce U.S. company's ince...
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HoursWhat are s and t hours like at a B.B.? Comment your hours times and which desk, also anyone know anything about trading in West coast...
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Anyone know what is going on with Brent versus wti this month?I think I sort of understand the fundamentals on it this month. But the actual vol is like 5 times what I would expect. ...
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ECG Management Consultants - Interview - GeneralistThe first round asked me lots of very specific questions about my graduate program, more so than any other firm I have applied to in the past. In the second round, the interviewers seemed to intentionally ask me slightly altered versions of the answers I gave previously in an attempt to trip me up o...
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Cargill Revenue by SegmentHi, I am a prospective trader researching Cargill. Would anyone know their revenue by segment(Animal Nutrition and Protein, Food Ingredients and Applications, Origination and Processing, Industrial and Financial Services)? They have posted total revenue information online, but I would need the re...
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What does "exit client" mean ?Hi, What exactly does "exit client" mean in the sentence below ? "We in association with our prime exit client hereby confirm that we are ready, willing and able to purchase the following Commodity." Whose money are they using for transaction ? Thanks...
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CIBC World Markets - Interview - Sales and TradingWhat do you want to do sales or trading and why? Pitch me a stock? Follow up questions on stock pitch. Are you smart, and if so prove why. Are you good quantitatively? If you have two piles of money, one has 3 to the power of 8 dollars and the other has 9 to the power of 4 dollars which one would ...
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Secondary loan trading? SecondariesAnyone able to tell me something about secondary loan trading, exit ops, etc? I may have an opportunity for an internship in this and I'm wondering whether it is worth pursuing. Long term goal is working at a Hedge fund ...
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ICAP - Interview - Tradingthe trading simulation wasn't something I was prepared for, but I believe my confidence and calmness really enhanced my ability to perform well. There was a buzzing countdown in between trades that was meant to increase nervousness, but I think if you remain focused on the relevant information displ...
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2019 BB S&T First Round InterviewHi everyone, I was lucky enough to land a first round interview for a 2019 SA position at a BB in NYC. Does anyone know what types of questions I should expect? Will it be mostly fit or a good balance of fit/technical? I feel fine preparing for the fit questions but honestly, I have no idea what th...
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Guggenheim Partners - Review - MacroSmall company investing the principal's money. Offshoot of the sister company that files claims, this company invest in claims from liquidating funds.. Not a lot of upside. Small teams with little enthusiasm or incentive. Business could grow to the moon but instead it wallows...
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What should I do in the military to help my future career?Hello everyone. I am a student at a top UK university, doing undergrad econ with an intention to go into trading, maybe into the quant side after doing postgrad. The issue is, my nationality means that I have to do ~2 years of mandatory military service and avoiding this through renouncing citizensh...
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Morgan Stanley Prime Brokerage Client Coverage Summer Analyst 2018 InterviewHi, I just got a email from someone at MS prime brokerage client coverage to setup a over the phone interview. This is my first time going through a summer internship recruiting, can someone shed some light on what I should expect and tips on how I can make it to next round. My background, now 21 y...
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Amazon's loss is Walmart's gainIs everyone happy with the recent tax reforms announced by the Federal Government - ya it was a kind of mix bag. Now, the Supreme Court has pitched in to boost states' tax revenue by squeezing e-commerce firms. And, the market reaction was quick - [Amazon stock plunged, while Walmart gained](https:/...
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Optiver - Review - Prop Trading* Great training program about options * Immediate exposure to live trading * Many different teams that one can get assigned to. * Manual market making is very repetitive * Very little systematic foundation of the trading process...
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I work in GS Tech, how do i move to trading or close to it?Hi all, I work in GS in tech, not interacting with traders, started last summer. I don't see my career in this team long term as I believe i need something more interesting, challenging and better paid. Ideally I would love to move to trading. But it seems almost impossible to transfer internally ...
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Brent Frontline Swap HelpCan someone explain me a Brent Frontline Swap or link some materials that explains it? I cannot understand it and have not been able to find anything online that I can read to understand the swap....
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Simple YTMHi all, just a back to basics question. Why in the denominator of the simple YTM formula, is the average price between par and price paid used? I get the math mechanics, but now I'm looking at this from a 1,000 feet view. My rationale is that since this is the simple version of the formula, then it ...
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Standard Chartered Bank - Review - Investment BankingUnique footprint with a significant institutional advantage in some frontier markets Strong client franchise . No differentiation based on performance when it comes to bonuses Low risk appetite in frontier markets which are meant to be the bank's differentor...
Spot Trading LLC - Review - Capital MarketsGood work / life balance, good technology, good culture, great benefits, nice office, free food, excellent time off policy. poor management, inflexibility to change strategy, poor communication, too high overhead, poor cost structure...
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Info on Prop Trading NYCAs someone who has not had much exposure, how legit are prop desks like Trillium and T3? Furthermore, what is the comp like compared to lets say: traditional S&T, HF, IBD. I know its more tied to performance but what would a typical salary structure look like at a Trillium or T3?...
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Central Risk Book - the worst front office jobCentral risk book is probably the worst desk on trading floor search “Is this the best trading job in banking? Or the worst? - eFinancialCareers” and it explains why. it is essentially a glorified IT and risk job if you already stuck in “central risk book”, try to make a move soon...
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DB SA Return Offer RatesAnyone have any idea how the situation DB is going through is going to affect the return offer rate of SA classes? S+T? IB? etc. ...
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Differences Between Exotics DesksAre there any differences in the type of person that works and the type of work on a credit exotics vs interest rate exotics vs equity exotics trading vs fx exotics desks??...
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What is credit sales and trading and what are the exit opportunities?Dear friends, I'm preparing for an interview in credit sales and trading and was wondering what do people do in this business. I have two years' experience as a CDO manager and alternative credit investment advisor. According to the headhunter, the position I'm about to interview will focus on struc...
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Trading really dying? I know this topic has been hit time and time again. However, I feel after every recession, there's always tons of people saying sell-side trading is dying just to see another great time. Yes, regulation has tightened and the money has definitely decreased, but it seems to me sell-side banks always f...
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Physical Oil TradingIs license required for the physical trading of commodities? Both seller and buyer are located outside the US but our company is located in the US and this is our first transaction in oil trading. ...
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How much to write on resumeHi Im a junior trader wanting to update my resume. But Im not sure how much I can write. Please leave a comment! I dont think it needs to come from senior traders only- bankers, salespersons and etc. Id appreciate it to hear some industry discretion :) I assume i can write the annual pnl i made ...
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Am I underpaid? Institutional Sales AnalystSo I work for a sell-side research vendor as an institutional sales analyst. Basically I work with our buy-side clients and get them the information they need from our data and research and help them generate ideas. I’m a first year associate and was wondering how underpaid I actually am. My start...
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BB derivatives trading analyst - buyside opps?Hi all, I recently accepted an offer as an incoming analyst at a BB for equity derivatives trading. What is the outlook for buyside recruiting down the road in this role? Should I vie for the more structured/quanty side (exotics, var/vol swaps)? Should I get into more macro products (index) or micr...
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Dealing with the gaps in our strategiesAll the people who are trading in this industry have one thing in common. They all follow their own strategy but only few could make it successful. This article is not going to tell you how you can make your money through a successful strategy because you have passed that stage. You have developed y...
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Risk Analytics at Oil MajorHello. I am new here and am looking for some advice from people in the commodity trading industry. I just landed an off cycle internship in Risk Analytics for a oil major. The job description says that I will be assessing the overall hedging strategy and commercial margin along with optimization o...
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Bunge - Food and Ingredients (FI) track? Have an upcoming interview for Bunge's programme, however they are only recruiting for the food and ingredients (FI) track this year. Looking to get some idea on the differences between a role in this business segment vs agribusiness, where the bulk of the revenue is being generated. Not sure about ...
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Commodity Trading: Switching from Crude Trading to LNG - potentially other fossil-based CommoditiesHello, I am about to start a job in physical commodity trading for a NOC in London. Most likely I will be either on the crude or the products desk. My question would be if 5-7 years down the line, if would be possible to switch to trading LNG, or pipeline gas? Or even possibly going into metals tr...
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Family/Personal Reasons to Transfer to NYI was originally happy for an opportunity in an exciting location, but midway through my first year a parent was confirmed to be diagnosed with stage IV cancer. I need to move back to NY. Would an internal transfer be a viable option? How do I start the process and frame my situation?...
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AMA: Quantitative Derivatives Trader, 1 year inHey guys, Figured I'd do an AMA because this site has helped me quite a bit in the past, and hopefully I have something to offer back. For a quick background, I graduated from a semi target as a math major, interned in IBD at a top bulge bracket, decided it wasn't for me, and now have been working ...
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Securities Lending Trader - Fixed Income Comp?Read everything there is on here about Agency Securities Lending but haven't seen anything on real numbers regarding comp. Does anyone know what the overall comp is for fixed icome trading on an agency sec lending desk? Also, what does the salary progression look like? Similar to other S&T? so A...
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JP Morgan Securities - Interview - Global MarketsA jumper is trying to get from point A to B. Distance from Point A to B = 1 meter The jumper jumps half the distance each time. i.e. .5, .25, .125 etc How many jumps does it take the jumper to get to point B? ...
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Anton Kreil - Institute of Trading and Portfolio Management MENTORING PROGRAM. Overpriced and Undervalue.A) Totally disappointed with the overpriced and undervalue 3 month Mentoring Program (USD7001) I am totally disappointed with Anton Kreil’s Institute of Trading and portfolio management’s 3 month Mentoring Program. This is because the mentoring program is overpriced and undervalue. I have reg...
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Jefferies Prime Brokerage sales Was wondering if anyone here interviewed for the Jefferies PB sales analyst seat, and if anyone has heard back yet. They recently had me complete a project for them and wanted to see if anyone has gotten any feed back yet. ....
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Who's winning?I have been away for a while and seem to be out of the loop on things. What cross asset trades are killing it right now? And what firms are making the money?...
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Deutsche Bank - Review - Trading* Rotation program allowed to find the best fit for final position * Quickly gained significant responsibilities. * Under-resourced at analyst level resulting in high work load * Internal competition between graduates as well as between trading groups ...
TD Securities - Interview - Sales and Trading1) Explain exactly what salesmen and traders do. 2) Which desk/position do you want to work on. 3) Pitch me an investment idea, with several follow-up questions. 4) Several difficult statistics-based brainteasers/riddles. 5) Tell me about recent news you've read regarding the financial markets, w...
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Applying for FT in Other Banks During SAWould there be any negative impact on return offer prospects assuming I don’t personally get caught doing it? Is it a bad idea in general?...
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Sterne Agee - Review - Sales and Trading- Opportunity to work with experienced and intelligent people with deep industry experience - Great compensation structure and package. - Pretty brutal culture - Doesn't operate with the same level of efficiency and professionalism as top sell-side firms...
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XOM Staffing Up Trade DeskLooking to get some of the opinions of the other physical trade guys in the forum, but anyone feel free to chime in. Given the moves XOM has made, what are your opinions on having another monster trading shop coming into the market? I agree with the sentiment that they arent going to start paper t...
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Akuna Capital LLC - Interview - Prop TradingYou have a 3 x 3 x 3 cube. You paint the outside of the cube then break it into smaller cubes (27 total) you pick a cube at random and then toss it. What is the probability that it lands painted side up? You throw a 1000 marbles down a staircase. The probability that a marble stays on a particular ...
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Sales and Trading 2019 internship recruiting for PhD candidatesHi all, I just finished my first year of my CS phd and am starting to think about different internships to pursue for next summer. In my lab (Computer vision), students typically stay and do research for the summer, and are then free to intern for the following summers. I have an interest in financ...
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JP Morgan Securities - Review - EnergyPretty good place to be, nice environment. People are great, a lot of support and help available. Steep learning curve. Slow progression, too much boring work. There are other places that are better compensated and offers faster progression....
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Phone Interview Markets (JP) I have a phone interview for markets at JP Morgan tomorrow. Has anyone here done one of these before? If yes is the interview more technical or behavioral? Also is this just a phone check before superday invites are sent out? ...
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Credit Suisse - Review - FICC - Fixed Income Currency and Commoditiesopportunity to take significant risk as soon as i started trading, and mgmt was open (theoretically) to suggestions for ways to improve trading technology platform. P&L drawdown limit was reduced when trading losses occurred. So, my strategy which took into account the original limits needed to be ...
RBC Royal Bank of Canada - Interview - Risk ManagementName 5 cryptos, but i knew more haha, what is the use of blockchain with and then what is the use of blockchain without crypto;s. basic questions. Talked a lot about building algos to potentially find patterns and trends in the market. also talked about his long term plans to develop a trading platf...
Alloy Ventures - Interview - GeneralistThey asked a lot of questions on valuation; specifically on what you would advise if the trend on a specific multiple is increasing/decreasing/stagnant with respect to the industry average (peer set) ...
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Sophomore S&T InterviewI am a rising sophomore at a target and have a super day at a bulge firm for a S&T analyst position next summer. I have not really had experience beyond general interest (keeping up with the markets). Everything I am reading says to have a stock pitch ready -- how in depth would they be expecting fr...
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Glencore - Interview - CommoditiesBehavioral questions are quite generic. Why did you apply this firm? Why do you want to work in the commodity industry? What was your greatest failure in life? How would you describe yourself in one word? How would others describe you? Of all the questions asked, the most challenging one was: What...
Optiver - Interview - N/AFew easy multiple-option type questions, followed by also not so complex algorithm and data structures. Last question is the most difficult, requires knowledge of data structures, but also important how would you design the solution, how would you optimally solve the problem, validate the input/outp...
Wells Fargo and Company - Interview - GeneralistI was asked how does a hospital's balance sheet differ from a normal balance sheet. They have a huge amount of accounts receivable due to the fact that patients come in and get services and treatment but then are subsequently billed and pay later or through insurance. I didn't get this at first but ...
Citigroup - Interview - MarketsThe phone interview asked "What are 5 market trends" and the interviewer asked questions based off of my answers. That was the bulk of the phone interview. The super day had 1 case interview, 1 personal (a lot of situational questions), 1 leadership, and 1 technical interview. All the questions coul...
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Energy Reading Material ListHey guys I'm attaching below recommended reading for any one interested in the Energy Industry. This is not my list and is provided by John Kemp in his news letter. Hopefully it will be of help to you all....
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College major for sales and trading (& is trading dead??) Hi I am currently a college student and I am definetly interested in trading. I'm not sure exactly where I want to work but would it be better to double major in finance and computer science with a minor in math, or double major in finance and econ with a minor in math? Thanks --- Mod Edit: Good di...
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Macquarie Group Limited ABN - Interview - Sales and TradingOne question that was tricky was a series of probability questions. The first was the following "There are 100 coins on a table and one of these coins has two heads. If i select a coin at random and get heads 10 times in a row what is the probability that I selected the coin with two heads?" Another...
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Python, Java or R?I have been going through some applications recently and the number of questions about technology or programming language knowledge have increased a lot, from BlackRock to Citadel. Hence, which programming language is the best one to dedicate hours of study?...
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Share Market Tips To Gain High Profit While InvestingGet Share Market Tips Free to gain high profit in stock market. Our accurate F&O Tips, Call Put Option Tips, NSE BSE Tips, Derivative Tips will help you to earn more money. You can easily invest in Stock Market without any fear. For Stock Market Tips connect with us at share market tips free [dot] c...
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RBC in S&THey guys, I just wanted to ask how RBC is overall in Sales and Trading and where their strengths are in trading. What’s their best desk and how do they fair compared to the BBs?...
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Stay on commods desk at BB or move to glencore/trafigura?I've been on my desk (metals) for two years. I like it here, i still feel like i'm learning, and i do think i could have a successful career here into the future. I don't want to name names but it is considered in the top tier in commodities. However, i have an opportunity to move to a top trading ...
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Introduction - Old Power Trader considering a return to the markets.Hello everyone, I am from a big city in Texas (not HOU) and after a decade removed from power trading I have decided to negotiate my way back to the promised land. I am learning all I can about the changes in the markets during the preceding decade and might be asking for some advice from those of...
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Susquehanna International Group - Interview - TradingIt was a game I had to play with the interviewer -- trying to reach a specific number first. I can't remember the exact game, but the point was to utilize a strategy and so that you cannot possibly lose (or so that they cannot possibly win). There is a definitive way to always win, so you had to use...
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Getting Internship/FT in the SALES Part of S&T??How do you get an SA internship or FT offer in the Sales part of Sales & Trading? Do you apply to the S&T internship/FT position and just ask to be in sales? Do they rotate you between sales and trading roles? Thanks....
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Info on Leveraged Loan Market MakingAnyone got any info on Leveraged Loan Market Making desks, what sorts of people they like to hire and a bit more about what they do? How similar are these to distressed debt and high yield desks?...
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HSBC - Review - Sales and TradingLaid back culture, work life balance, good colleague rekationship, nice management, lots of annual leaves. Too many layers, pay not linked to financial performance but by impression, slow to move upward, lots of admin...
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Citi vs Goldman S&T for SAChoosing between S&T summer analyst offers for Goldman and Citi that I recently got; both NYC; both are rotational but Citi is also rotational full-time as well. Factors I’m keeping in mind: strength of S&T division (most interested in FICC but obv open to doing equities too), exit opps, compens...
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How long did it take you to practice for the prop math trading tests? (or how long have you been practicing without success?)I'm no math genius and I'm starting to practice so that I can pass the prop tests, how long did it take you to pass? If you did pass are you now a trader or did it fail to get you where you wanted to be? If you are practising and still failing how long have you been trying for? I'm trying to figu...
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Central Risk bookHi All, I am looking for some answers around central risk book. Is there a difference between central risk book and central execution desk? Are both the same? Also, how are delta hedging desk, central risk book, central execution desks and dark pools related? Also if you could let me know where I c...
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