Silver BananaTopicReplies
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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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Natixis - Interview - TradingNothing very difficult. Just basic questions like walk me through your cv? Tell me a time when you work in a team? Tell me a time when you work with multiple deadlines? tell me about your greatest achievement? tell me about a challenging situation? Why us? Why this role. Option ...
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Systematica InvestmentsThis is a spin-off from Bluecrest capital employing quantitative strategies. Apparently led by the most powerful female hedge fund manager. However, there is limited information to be found on sites like Glassdoor. Is this a place similar to something like Two Sigma?...
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Bond JargonHi All Sorry for the very basic question. I'm use to the swaps lingo when it comes to bid / ask = pay / receive (whether outright, curve or fly). However when it comes to bonds being quoted in in yields, I understand that bid / ask = buy bond / sell bond . However, I do not understand the concept ...
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Calgary Power TradingFor those with experience in power trading within Canada would you mind sharing: 1) What are the top firms to trade power in BC, AB, ON? 2) What are the best hubs to trade at a Canadian firm? What are the major differences in trading the major hubs (that Canadian firms trade)? 3) What do you think ...
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The Depository Trust and Clearing Corporation - Interview - AccountingSince my college is not big on using teams in its curriculum, I went on to talk about how I worked in a team setting when I played club sport in college. I just spoke about how you have to learn how to leverage each individual players strengths, and be able to pinpoint weaknesses to come up with a g...
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Power Trading Interview Questions - help neededHi guys, I have my first interview scheduled for a Power Trader position at a company running a virtual power plant, buying power from small distributed generators and selling back into the wholesale market, and could really use some help with interview questions that I have been asked to prep for...
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BAML 2019 Accelerated Sales and Trading SuperdayHi, was in the ST superday in NYC on Wednesday. Has anybody heard back yet? Did anyone receive an offer on the spot?...
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Interview Q: A different "Make me a market" questionHi guys I have my first ever trader interview (physical commodities) coming up and could use some help with the following question that's been sent to me to prep on: "Make me a 2 wide market given the following information: 70 32 39 83 27 50 54 65 66 34" I know the "make me a market" que...
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CITI 2019 Markets Interview What type of questions do they ask during Phone interviews for markets? How is the interview process like for CITI?...
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Lifetime rejections from prop trading firms I've heard that many of the top prop firms do lifetime rejections if you fail to make it through their interview process. I know this is the case at Optiver. I interviewed at a few firms (ex. SIG, IMC, etc.) for summer internships and though I got to the final round for a few of them, I didn't get o...
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full time S&TI am a rising senior at a tier 2 IB for this summer in markets, wondering on the full time process for other places if I were to look to make a move. Some places I've already talked to connections/HR and they said they will know by the end of July what kind of numbers they need for full time(outside...
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FX ReadingI have a non-rotational S&T junior internship this summer and placed into FX Trading, which I thought would be a great fit for me since I am really into macro products and following markets. I've been starting to do some research to help me hit the ground running and am looking for an introductory-l...
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Industrial and Commercial Bank of China - Interview - Natural ResourcesWhy would you like to work here? Where do you see yourself in 5 years? Tell me about a time where you failed extremely badly. What is your biggest weakness? Why should I hire you? Are you comfortable working over the weekends? How do you feel about being relocated? (India) Tell me who deserves to be...
Goldman Sachs - Interview - SecuritiesWhy Sales & Trading? What do you like most about markets? Why Goldman? How do you feel about living in New York City? Which desks do you find most interesting? What is the expected value of a die roll? What if I have the opportunity to re-roll? What is 33^2? What is a good approximation for sqrt(...
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Internal Wholesaler to S&TI am currently an internal wholesaler and wasn't to get into sales in S&T. Has anyone ever seen this done? or would I need an MBA to make the jump?...
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Super Day with short noticeHi guys, I have an S&T super day tomorrow and I've been mostly studying for M&A. Do you guys have any tips or guides I can use to cram for this interview tomorrow? ...
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When looking for broker for a Trading Accountwhat are the thing to look for, questions to ask? Commisions is literally all I can think of!!!! ...
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Does anyone here trade Bund/Bobl/Schatz options/futures?Fuck me. Has anyone made money from this weeks move? Things are usually bad but this a new level of madness. Losing the will to live. Send help....
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Anyone else think trading is boring now?Long time user here, this is a throwaway account. I'm having a bit of a crises of faith. I started out at a BB as a trader straight out of school back in 09, and I've somehow managed to survive all the cuts over the years. Problem is, I'm not having fun at all anymore. Am i just maturing and reali...
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Best S&T Technical Prep WebsitesI stumbled upon the following website while preparing for trading interviews: interviewbrainteasers(dot)com Does anybody know any other good resources besides Glassdoor? I know tradertest(dot)org was shut down recently....
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What is Cash Equities Vs. Equities?Can someone explain the difference? M&A banker here. M&A banker who needs to fill character limits...................................
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Please tear my aspiring S&T internship CV to shredsPlease find it attached - I have been working in a Hedge fund this year as a year out from uni as I was in hospital during my university exams last year and therefore needed to take them this year. Names on CV have been changed for obvious reasons. I am hoping to apply to all investment banks for ...
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Getting A S&T Internship at a Non TargetHey everyone after some soul searching I have found that sales and trading seem to fit my personality within the financial world. I actually think I will be better suited for sales as I am extremely extroverted and love networking. Currently I attend Auburn University which is not really an ideal pa...
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Akuna Capital LLC - Interview - TradingUnfortunately a lot of the questions asked are not supposed to be given out as it would unfairly help interviewees with access, however, I can give some example problems that are common to the. types they gave or those that they gave which are common enough to find online with enough care. Mostly pr...
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Correlation Surface for Spread OptionI’ve been looking for a good way to model correlation skew on a spread option. Imagine I have the ATM...
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Power trading strategiesHi all, I´ve started recently as a power trader and was wondering if you could recommend some resources (or write any comments) on various trading strategies possible in the electricity market. I tried searching on the forum here and there are few people with experience in energy trading, so hopefu...
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JPMorgan Chase - Interview - Sales and Trading* Brainteaser about opening and closing closets. * 100 people in line. The first person opens every single closet. The second person closes the ones that are multiples of 2 (2nd, 4th ...). The third person closes very open closet and opens every closed closet that is a multiple of 3...and so on...
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RBC Global Markets RotationsHey guys, I just wanted to ask if the RBC Global Markets S&T SA Internship has any rotations. Will interns only be rotating between Sales and Trading or is there an Equity aspect, etc? ...
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Alexander Forrest Investments - Interview - N/Atell me about yourself. Brainteasers on how many colors ina cube.tell me about yourself. Brainteasers on how many colors ina cube.tell me about yourself. Brainteasers on how many colors ina cube.tell me about yourself. Brainteasers on how many colors ina cube.tell me about yourself. Brainteasers on ...
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Interest rate research and tradingCould those of you wiser than I (which means almost all of you) shed some light on interest rate research and trading? I’m pretty interested in the group generally and would appreciate any opinions on what they do and, in particular, career flexibility in that group. I’m not just joining a group...
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Rates and FX traders: how much time spent on fundamental research?From what little I know, rates and fx traders first and foremost need to understand the technical aspects of their products, supply and demand in their markets, and what drives price action on a day to day basis. But if I'm interested in understanding the economies of countries and real-world conseq...
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Goldman Sachs - Interview - GeneralistThe hardest question asked was a brain teaser on expected value and questions about the indices. They asked you to essentially rattle off where all the major indices were at. Gold, treasury, dow, the corporate stock price. They also asked for a stock pitch so you should have on ready. I suggest doin...
ShibaMura Kougyou - Interview - Debt Capital MarketsThere really weren't any interview questions, since the only thing I had to do was keep pushing elevator buttons until the person said to stop. Well, to be fair I also had to show practiced indifference and the ability to withstand the burning glares of people who make dozens of times more than my ...
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Cash Equities - how to make myself non-redundant? I'm a junior at a cash equity trading desk and see a lot of disruption in this field. Although I'm not worried of getting fired for now, the future is definitely not bright. I'm considering going for an MBA to transition to a different role, but if I decide to stay within S&T, what desks should I ...
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EM rates trading at a broker dealerCurious if anyone in NA has been on this desk at a BB and what they thought, intern or full time. Interested in learning more and sources for research that are good...
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Physical commodity trading in EuropeHi everyone, i'm new and it's 3:20am in a beautiful city in Italy. Please keep all errors. They are welcome gifts from my part. I have some questions regarding physical commodity trading in Europe, especially in Italy & Germany, since these are the two countries for which I possess the necessary l...
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MSF placement for S&T?Hey guys, After two years of experience in a BB TA role, I'm looking to pursue a MSF with hopes of becoming a successful macro trader. I've done alot of research for different programs and one thing I've noticed is that there's a relatively low placement for trading roles, even at some of the bette...
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Goldman's 100mm wrong bet on Natural GasI'm sure there is a better article, but still good nonetheless. Essentially states that GS was long DOM/Eastern nat gas basis that went from -.30 to -1.30 cents. This caused a 100mm trading loss. This is a great example of the volatile nature of the energy markets and how one way bets like this can ...
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Electricity TradingI will be interning for a energy trading firm, and I was wondering if you guys could help me out with some of the mechanics of trading. I understand basic power grid operations and how the financial markets work, but not too sure about the specific transactions for energy traders. Please correct m...
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CIBC World Markets - Review - Prime Brokeragegreat exposure to capital market S&T trading. client facing, the type of people you work for on daily basis are those who make 150k to few MM a yr. long hours, early start, tough culture pretty much summaries the downside of the job. most people on my team skip lunch. t...
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Binary Options Trading or FX Trading?Hey guys, I am relatively new to investing and I have been trading in the foreign exchange markets occasionally making money, and occasionally losing money. I am very interested in currency exchange so I find all of my research captivating. I recently stumbled upon binary options and was wondering ...
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Five Rings Capital LLC - Interview - Prop Tradingapproximations: value of the beef jerky industry; number of birds in the world math: lots of math approximations/calculations: derivative of x^x evaluated at 2 and answer cannot be in terms of e; value of 3^3.7 lots of probability: if you type letters, what is the expected amount of time until you g...
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JP Morgan S&T Vs. Citigroup S&T (Offer Help)I'm currently deciding between JPM and Citi S&T for SA positions. I'm interested in FX, credit and rates. What I've learned so far: Citi has a rotational program but JP doesn't. I have much stronger connections with junior and senior people at Citi vs one junior contact at JP. JP has a more focuse...
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Dodd Frank / Volcker Rule RollbackDodd Frank / Volcker rule was rolled back today in some capacity. Which banks win the most from this? What are the implications in the broader financial landscape? [quote]Under the bill, banks with more than $50 billion in assets would no longer be automatically subject to the toughest federal regu...
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The effective interest rate on the leverage component of futures trading?Hi I'm trying to get an overview over what I pay for a futures contract. On a regular mortgage is quite clear what the effective interest rate is, as the bank provides it. But when trading with futures its not that clear. Someone told me its simply the risk-free interest rate, but I am not sure if ...
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Switching to SyndicateI'm currently considering switching to a syndicate desk and was wondering if anyone can speak to the hours/opportunity to move back into FI trading. I'm on an IG underwriting/trading desk currently, and am kind of fed up with the city I live in and an opportunity has presented itself in another stat...
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Robert W. Baird & Co. - Interview - Financial ServicesHonestly none of the questions were too difficult at all, typical questions such as how do you work in teams, tell me about a class you took, etc. This was almost more of a conversation style interview where they just wanted to see what I was looking to gain from the internship since it's a sophomor...
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Goldman Superday Accelerated Process 05/17 Hear backHello all! I was wondering if anyone has yet to hear back from GS on their recent super day for SA Securities 2018. I would also love to hear how the interviews when for people!! Congrats to all who have already received offers :)...
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Short VIX? Why?seems like this is the latest meme on wso i don't understand, what does this mean and why will it make money? ...
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Transitioning from S&T to other industries post MBA (tech, consulting, PE)I just accepted an internship with JPM in their S&T program for next summer, and most interns stay on for full-time. I am curious if anyone has any insight into the exit opps from S&T when pursuing an MBA--I have a range of interests and likely don't see myself staying in S&T long-term. When lookin...
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Morgan Stanley - Interview - Sales and Trading* Best estimate for sqrt(3). * What is 41^2? * Suppose you’re on a game show, and you’re given the choice of three doors: Behind one door is a car; behind the others, goats. You pick a door, say No. 1, and the host, who knows what’s behind the doors, opens another door, say No. 3, which ...
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What are the most profitable trading desks in Europe and AmericaAnyone have any idea on this? Which trading desks (individual desks) are making the most money in terms of annual desk PNL?...
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Andrew Garrett Inc - Interview - Equity Capital MarketsTo be honest there wasn’t any questions that were unexpected. There was the basic “tell me about yourself question”. Then he gave some fun facts about himself. Then there questions about what I did in school. Then there were questions about previous sales experiences, in which I had to go int...
T3 Trading Group - Interview - TradingThe phone interview went on for almost thirty minutes. I was, however, only asked two to three questions. The interviewer, the trading supervisor, asked me whether I had prior experience in trading, whether I interviewed with other trading firms and what do I know about trading. The recruiter, to my...
T3 Trading Group - Interview - Prop TradingThere was different brain teaser questions that I had difficulty answering , however the only I truly remember was this: You have 3 switches which each go to a light inside a building. You cannot see inside the building and can play with the switches all you want as well as put them in any order yo...
Scotiabank - Interview - FX SalesThere was literally no interview involved. All I had to do was submit my resume. However, at the networking event itself the Director and I spoke for around ten minutes, during which I made a good impression which was probably what led him to offer the position to me. The questions he asked were: -...
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Good things to read for options and futuresHi all, first time poster here, I'm taking a class in the fall on Options and Futures analysis, and while I regularly trade, I haven't had time to really look into Options and futures, can anyone recommend any books I can read before the fall to best prepare myself for the class? Thanks...
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Wildcat Trading LLC - Interview - TradingHow do you protect cash positions? What do you eventually want to do? Phyiscal or prop? How do you see the business in 6 years? Do you have any preferences in terms of locations? What's the time frame you see yourself for in this prospective position? What is your thought process as a trader? What ...
RBC Royal Bank of Canada - Interview - Structured ProductsFirst the MD introduced himself and asked about my motivation for working in EQD structuring. He then switched to more technical part, which lasted about 30 minutes. I was asked questions mainly on options pricing, mostly text-book questions - greeks, Black-Scholes model etc. Then followed by a coup...
JP Morgan Securities - Interview - Trading1. Pitch me a stock - Pick a stock of a company that is not very big, small-cap - Know all the metrics for the last few quarters - Indicate whether it is a growth or value investment 2. Brainteaser - Everytime an athlete jumps, she jumps half the distance of the previous jump. The first jump is ...

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