Silver BananaTopic
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CIBC World Markets vs TD Securities S&T intern offersHello guys, I have a dilemma right now. I have been offered both summer internships at CIBC and TD in sales & trading. I know it's a good dilemma to have, but I just want to make sure to take the best decision. The first one is in Montreal and is solely in sales, but I would touch every desks wh...
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Company Review: First New York Securities - Loved FNY Great working environment, everyone was easy-going and had a lot of autonomy. Could come in late or leave early if necessary.. Sometimes unorganized, lots of downtime. Would like to see more quantitative work. Needed to have a better idea of what they wanted us to do....
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Company Review: Jane Street Capital - +math, -algorithmsSmart people work there, nice to work with them. If you are math enthusiastic, definitely should go there.. All trading is done by traders themselves, not by smart computer algorithms. If you are good at algorithms and suck at maths (or not social), don't go there...
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Advice on BB macro research exit oppsHey guys, So i've searched through the forums and i've managed to find bits of information sprawled across. However, nothing too concrete has come up. So I've just started a position at a BB in their macro research division and i'm really enjoying the work. However i'm just wondering what sort of e...
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Anyone hear back from the DRW Superday?Anyone hear back with any news from the superday this past Saturday for DRW? Still have not heard anything back....
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Analyst pay 1st/2nd/3rd year in S&T Canada (2017)?As an intern, just wondering what the prospects look like a few years out in Canada (Bay St). If possible please split between base/bonus. FYI I'm interested in knowing about FICC S&T not equities. Thanks....
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Trading Vol in an IB - what are the good resources for Rates, Credit, FX, Equities? Market-makers' help greatly appreciatedHi guys, I'm a junior market maker at a US bank working on a desk close to the vol desk in my asset class. I am very passionate about the Vol side and I have created this thread hoping that it will become a primer about the different resources people should use to learn about vol in different asset ...
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Company Review: BMO Capital Markets - Life with the CanadiansCame to work for BMO and returned to Chicago in Jan of 2015. Quality of life improvement and better balance between work/home.. Bonus has not lived up to expectations. Superior performance should yield better rewards. We tend to level the playing field too much...
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Buy side execution trading vs IB market makingWhat are the differences between buy side execution trading vs sell side market making? It seems like these roles are very similar and very different to buy side PM/investment analyst role? I am not quite sure why being a sell side trader is more relevant to becoming a buyside PM then an execution ...
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Best Desks for Sell-Side Trader --> Buy-Side Macro PMHey guys, So I will be interning at a well known MM bank within the S&T division this summer and am looking for some insight as to which desk would be the right fit for me. My long term goal is to become a buy-side PM and understand that the skills learned from Macro trading transfer over pretty we...
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Company Interview: Morgan Stanley - Summer Analyst - S&T1. Tell me about a time you failed, what did you learn? 2. How do you measure your own success ? 3. If you were CEO of Morgan Stanley what would you do ? 4. What do you think of the influence of geopolitical events on the market ? 5. News that impacted markets ? 6. Why do you think we're in a bull m...
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Guggenheim Capital Markets super dayJust got an invite for the super day. Does anyone have any prior experience going through the process with them? Thanks...
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Why does sell side trading prepare you for being a buyside PM?Why does being a sell side trader seem to be a natural step to being a buyside PM in some asset classes (like rates) and not in others (like equities). How do the nature of these jobs differ?...
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Are any bulge brackets still recruiting? Hi guys, Does anyone know if any banks are still recruiting for front office positions? I know many of them have closed down but curious if there are still any open positions. If not, does anyone know any bank that recruits in the spring as well? ...
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Best CBD Oil asserting silly weight **Best CBD Oil** asserting silly weight misfortunes however without the fixings to go down the cases. By understanding this article you will at last know which fixings are the best to give you the quick results you are after. You wont ever need to purchase...
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Examples of desks in banks that would be classified as principal trading How would one know from the outside what desks in banks are classified as principal trading/risk trading (I guess this means principal market making) desks and which would be agency trading desks? ...
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FX options dataI have been reading [Marc to Market](http://www.marctomarket.com/2017/12/uk-front-and-center-but-sterling-is.html) and stumbled upon the following: **Note that there is a GBP428 mln option struck at $1.3350 that expires in NY today** Is this a publicly available piece? If yes, where can one find s...
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What is equity derivatives Flow Sales Hello, I will have an interview at BNP in equity derivatives flow sales. I know what equity derivatives are but can someone tell me that flow sales is? Moreover, can you please explain me in short what they are doing? What type of technical questions can be asked? Should I prepare for exotic o...
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Company Interview: KeyBanc Capital Markets - Sales & TradingMost intitial questions to enter into new topics were very easy and general. Based off of my answer to the question, they then created detailed analyzing my answers and these were the difficult questions. If you are given a stack of papers conaining an unkown amount of projects and you are given a ...
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Company Interview: Maven Securities - Graduate Program TradingIt was more of a speed test where you got 60 questions in 10 minutes. Need to do as many as possible correctly. I answered only about 15 correctly and didn't pass to the next round. Most of the other students seems like they had prepared thoroughly and were mostly undergrads from local schools in Ho...
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Company Interview: Optiver - TraderHe asked me a simple expected value of a game which was easy enough. From there the trader took me through different scenarios of the game, such as what if you get a second chance, what if your get a third chance, and thus what would be the expected value of the game. He additionally asked me if you...
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Energy Trading in Houston (International Student)Greetings WSO community! Does anyone know whether supermajors, trading houses, banks, etc in Houston recruit international students for trading jobs, or even internships? H1B database shows that yes, people get hired; however, companies' websites state no sponsorship. Is networking my best option?...
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Can someone help me?Well, im studying Mechanical Engineering (2nd year) in Greece (so non target ofc) but i found out that Engineering is not for me. Fluid dynamics, thermodynamics etc are really boring. I want something more challenging. So, i would like to become a trader. Some relatives do forex trading (mainly for ...
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Company Review: DC Energy - Great first step out of college-Intelligent Co-workers -High pay, commensurate with other finance jobs -Constant learning in your first few years; good professional development and skills. -Hours can be bad depending on the team you're placed on, well above the 55 hr/wk they tell you about...
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Company Interview: Morgan Stanley - Morgan Stanley Bank Resource Management InternWhat specifically differentiates Morgan Stanley's BRM department when compared to other companies ways of managing liquidity. Why does this attract you to Morgan Stanley as opposed to those other firms. How does your previous experience represent your ability to grind and work hard. Can you give ...
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Company Interview: QINGYU INVESTMENT - riskTell me about the latest stock price. What is your biggest weakness. Why do you want to work at our company.It’s 12 p.m. one year from now. What are you doing?What is the one thing you like most about your current manager, and what is one thing you would change?How would your manager describe you?...
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BP Trader Development Program?Has anyone here worked in BP IST or in the TDP? I have an offer and a couple questions. PM would be appreciated....
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Where to Find: Historical Options DataDoes anybody know where I can find information about the number of and price of puts/calls on S&P 500 and gold options over the last ten years? Thanks a ton. SlyGuy...
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Company Interview: Akuna Capital LLC - Trading InternThe most difficult of the interview questions are the sequences that are provided in the second round tests. You must identify both numerical and alphabetical sequences. The mental math isn't very hard, with some practice anyone can probably do them. The personality test can be passed easily if you ...
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Company Interview: Jane Street Capital - Quant researcherTechnical questions. The first part was a hacker rank with main focus on conditional probability and expectation value. So just simple probability questions which can be answered by anyone interested for a Quantitative position. The first phone interview was with a software developer and trader. Was...
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Company Interview: Susquehanna International Group - SIGQuestions about expected value of the market. Given known information, calculate some X. In addition, there is an options question attached to this where they ask you what if you had the option to buy this stock. How much then would it cost. For e.g. The price of a stock is 10 dollars. This stock h...
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I think I'm being underpaidhi. i've been a sell-side fixed income dealer in london for just over 3 years now. my current salary is 85K and my last bonus was 50K. i don't know about many people's salaries in the industry, but someone the other day around the same age as me gave a hint that he makes much much more. is 135K GBP ...
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Company Interview: Citigroup - Global marketsThe interviews were all competency and behavioural based, not many technical questions so they were not extremely difficult. However, do make sure you are up to date with current affairs and have a view on how it will turn out in the future. One difficult part is to sustain the conversation if you a...
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Company Interview: Nomura Holdings - Summer Analyst1. What do you think about the overall China economy next year, what sectors should we pay attention to and why 2. What will you do when your trader is trying to quote a bad price to your client 3. Walk me through the BS Equation. What are the problems and downsides or this formula 4. Tell me more a...
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Company Interview: Jane Street Capital - Trading InternThe most difficult question was the second round interview, in which I was told to find the best strategy for a game in which the interviewer would roll a 100 sided dice. I get the option to take what he rolled in dollar value, or spend a dollar and roll again. I was told to find the best strategy w...
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Company Review: Tower Research Capital - SatistifiedGood culture, laid-back They have a lot of individual small teams so start-up culture is found. You only work within your team.. lots of coding if you don't like it. Work can be tedious at times. A lot of technical challenges need to be overcome....
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Company Interview: JPMorgan Chase - Sales and TradingFor the hirevue digital interview part, all questions you can get by searching online and looking at the posts in forums. For the two phone interviews from business representatives, the questions are also straight-forward, which are not out of expectation. While should be prepare for the follow up q...
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Company Interview: JP Morgan Securities - JPHow do you assist in the comparable industry research with your boss? What's your preferred asset class, equities or fixed income, can you explain why? What are the comparable companies you use to value the target company? Can you tell me the driver of the industry you worked in which is transporta...
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Accepted a BB OfferHey all, I just accepted a BB Offer for the electronic trading division. I was wondering what are some ways to use my last year in college to prep for the new role. Any advice would help a ton! ...
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Lateralling advice for tradersHi, I'm a junior trader at a middle market bank, wanting to lateral to a BB/prop shop. Could anyone please share their knowledge or experience about lateralling to a trading job? While there seems to be some posts about lateralling for i-bankers, I haven't seen quite so for traders. Please direct me...
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Company Interview: Citigroup - CitiTell me about a time when you were in a team and somebody did something which made the situation difficult? What do you think the world will be like in 2050? Tell me about a time when you demonstrated integrity. Tell me about a time when you failed, what was your biggest failure? Tell me about a...
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Blackrock's Trading and Liquidity groupHi all, I have been invited to interview for a ft position within BLK's trading and liquidity group. I was wondering if anyone had insight into this group, and if it was possible to work from this group into a PM role? Lastly, is this a truly trading role, or more of a trade support group? Thanks...
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Company Review: JH Darbie & Company - Great first stepGreat people, great culture, bosses care about you, easy to get into, find out if you're cut out for wall street. Unpaid, sometimes bosses fuck with you, if you have no motivation it can be tough to go through this internship...
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Company Review: JPMorgan Chase - Good Company Moving into the FutureThe Non-Rotational program allows for far deeper specialization into your desk to develop real skills.. Not much to complain about. The food tends to be somewhat hit or miss (agreed with by others in the firm)....
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Company Interview: Susquehanna International Group - InternMostly probability and math questions, a few questions about fit and why I was applying. You need to know bayes' theorem and conditional probability, then there are brainteasers. 2 rounds of telephone interviews (one with HR and one with Trader) to decide fly you to dublin Final Assessment center an...
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Trafigura Junior Trader Program: physical commoditiesHello all, I am new here but have noticed that there were a lot of interesting discussions about physical commodities trading. I was wondering if anyone had started interviewing with Trafigura for their junior trader program. I applied 2 weeks ago in Geneva but am still waiting to hear from them. T...
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Company Interview: Scotiabank - InternA managing director asked how many oranges are consumed in the United States in one year. Nothing was too difficult, all the questions were baseline market knowledge with a few follow ups based off your response. One question asked how I would invest 1 million dollars if I was given it in current ma...
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Company Interview: Trafigura - Graduate TraineeThey will primarily ask two type of questions: technical and behavioral/fit. As for technical questions, there were no surprising questions (entry role), but you should do your homework and understand the entire lifecycle of a trade. My preference was Ops, so they asked me about operational risks of...
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Function of the Central Risk Desk? Closest thing to prop trading? I was wondering if you guys had any insight into what is known as the Central Risk Book, Central Risk Desk or Central Execution Desk in the trading department of an investment bank. As far as I can tell the desk is there to ensure that trades across the bank are well hedged and executed. However, I...
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Demo Tryout for applying to futures prop trading desk - best strategy?SMBFutures has just created a futures prop trading desk (you can find the details at SMBFutures on their dot com website) and they are letting ANYBODY apply to be a funded trader on their desk. They are not looking for students to train here...they are looking for people with a trading strategy tha...
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Company Interview: IMC Financial Markets - Software EngineerSome of the HireVue questions took some thinking to answer appropriately. For example, one of the questions was: Given a stream of unsorted data, how would you sort it? Now imagine you're given a vector of sorted data. New data is appended to the end of the vector. What sorting strategy would you us...
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From Engineering to Trading (EU)Hi everyone! Im studying Mechanical Engineering (2nd year) in Greece (so non target ofc) but i found out that Engineering is not for me. Fluid dynamics, thermodynamics etc are really boring. I want something more challenging. So, i would like to become a trader. Some relatives do forex trading (main...
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Company Interview: National Bank of Canada - Financial Markets Rotation ProgramWalk me through your resume The most difficult question was "Describe to me what happens on an equities desk". Describe to me a time when you were in a group and had to deal with somebody who wasn't contributing. It was mostly leadership, teamwork and conflict resolution based questions Describe a ...
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Company Interview: Flow Traders - Flow Traders Junior TraderAs discussed previously the most challenging part of the interview was the math test. The firm has a global standard and if you do not score above a certain level you are automatically eliminated from the process. Of the 14 students who received a first round interview at my campus I believe only 2 ...
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Internship at the Chicago Board of TradeHello guys, I am new here and found this site doing a few searches Anyways, I am a Junior at a non-target with a 3.9GPA and a triple major in Finance, Econ, and Accounting. This summer, I have an options trading internship with a "big" trader who has a seat on the exchange. One of my goals is to ev...
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Series 7 & 66Hello, I am looking for inputs on which course materials helped you pass. Has anyone used WSO's s7 prep course?...
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Company Interview: Credit Suisse - Sales and Trading InternDescribe a time where you took an unpopular decision. Describe a time where you had to keep a secret for a friend or colleague. Describe a time where you had a dissatisfied customer What would your friends say is something you have to work on? Why should we hire you? Tell me about a time when you ha...
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Investing in a contractHi all, i would like to know how i can structure an investment in to a contract rather than the asset. For example, if my friend John has an asset which i think is valuable but i have no money to buy it package it and ship it in order to arbitrage it and sell it to Jim, who has agreed to pay me cash...
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Company Interview: Citigroup - CitiGrouphr interview for first round, read about a market article and group discussion. Also given three portfolios and discuss which is the best fit for given client. Final round was virtual conference with two seniors. Mainly behavioral. Asked about questions on resume. walk through many internship experi...
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Company Interview: Morgan Stanley - Summer InternAll competency questions were pretty standard, and so the hardest question was probably the one where they asked to tell them about a recent market event you've been following. They also ask follow up questions related to the event, so make sure you actually know a fair bit about what you're talking...
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Company Review: UBS AG - Operations AnalystAs a starting out job in finance, happy with what I have learnt and exposure to all levels of management and different areas of the business.. Forced rotation at END of graduate scheme and whilst get along with members of team, very few direct members of team can be called friends outside of work....
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Akuna Capital vs Optiver InternshipI have offers from both these places for an internship. I believe I like Akuna capital slightly more, but I have heard that their future doesn’t seem very bright? To be frank, which company pays more in bonuses (i’ve Heard Akuna might pay on the lower end in bonuses since they reinvest a lot of ...
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ideas for coding quantopian algo trading strategiesanybody have ideas they want to share on good trading strategies to implement on the quantopian platform?...
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HSBC Markets HirevueJust received an invitation for HSBC markets hirevue, anyone has experience with this? Is it mostly behavioral or some technical as well? Thanks...
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Company Review: Peak6 Investments - TraderGreat environment, solid team, good focus on niche, consistently profitable in their space, often fun events. Trying too many other initiatives, high failure rate, need to hire external pros, also need to give trial periods more time...
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Company Review: Citigroup - Citi Sales and Trading InternshipYou are working with some of the top groups in the world - some really smart people making a lot of money.. This is probably not unique to this firm, but no one really cares about an intern. Personalities are certainly difficult. You also are constantly reminded that you at least 10 years late to th...
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JP Morgan Assesment Center - Sales & Marketing - Summer InternshipI received an invitation to the AC for Sales. I am a bit puzzled as to what I can exactly expect from the AC. Will it focus more on presentation skills and case studies given that it's a sales role or is this just another term for multiple back to back interviews in some booths? Would be grateful fo...
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Good enough for wall street?!Hello everyone, I'm relatively new to trading world, and I was wondering how good of a trader you have to be in order to work in wall street? I mean in terms of monthly or annual return on investment, drawdown, etc.. I have been working as a retail trader in forex market for over a year now, and ...
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Option Arbitrage QuestionHey guys! I've got a question regarding option arbitrage: Suppose the continuously compounded risk-free rate is 5% for all maturities. The current level of the index is 1000. Dividends are assumed to be re-invested 1) A European call option on this index with strike price equal to 1000 and time t...
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Company Interview: Jane Street Capital - InternI got several questions based on dice and card probabilities. Some questions can be found here but if you know the answer, the interviewer will try to modify it. Some more problem solving/Fermi problems such as: - Mass of earth atmosphere - 99 Lions and 1 Sheep on an island, a lion can eat the shee...
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AMA: From Pizza Delivery to Quantitative Research/Data Science/ProgrammingWhat is going on, everybody? I have been a lurker on WSO for a while and thought I would share a story with you. Here goes nothing... I worked full-time and went to school full-time pretty much all throughout school. Knowing I didn't want to deliver pizza for the rest of my life, I worked overclock...
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Company Interview: IMC Financial Markets - internWhy did you choose IMC? What other companies have you applied to? This was hard because it wanted more than just why you want to be involved in trading, which meant that you would need to think about what makes the company unique ...
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The Litasco SA conspiratorial HR plot isn't so silly.There is movement currently at Litasco Short Story Russian speakers are OUT, Frenchs Italians get IN. the thesis of the new hiring manager (French) is very inclined in hiring the people she knows. Quite often employees have co-opted with the HR for a while. Remove the HR and see the card game...
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Company Interview: Morgan Stanley - MS Sales InternThe interview was mostly CV and behaviour. The most difficult part was the follow up questions. They asked specific questions on my previous experiences. Be sure not to BS anything about your experiences. They would know. Also, it was difficult to pitch them a stock. They expected something quantita...
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Company Interview: Chicago Trading Company - quant InternTwo coding test and 8 single choice questions. First coding is Fibonacci sequence and second one is calculating N choose M. Then the choice questions are simple except one. It was about option pricing. I can not remember it any more since I didn't know anything about options. Another question I reme...
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Updated Resume After InterviewI applied for an internship position for a S&T role in August but have only recently started the phone interview process. I’ve spoken to 4 people and sent an updated copy of my resume to the first 2 but couldn’t send it ahead of time for the second 2 since I didn’t have their emails. I assume...
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Company Interview: Jefferies & Company - Summer AnalystThey asked a number of numerical multiplication questions which I was unprepared for; basically multiplication of large numbers. Apart from that, they asked a number of bond- and market related questions: Where do you think the markets are going? Is there any news story that has been of interest to ...
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Quantitative Analyst for TradingWhat do Quantitative Analyst do? Difference between Quantitative Analyst, Quantitative Trading Analyst, High Frequency Trading, Equities and Trading, etc? What do they do at work? What is their salaries and bonus (whole compensation package)? What is a Quant's future prospects and future career ...
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M&A and Quant, who is generally wealthier?Assuming a few years into the industry as full time, same education, same company etc, who has a higher compensation package (including bonus)? Merger and Acquisitions V.S. Quantitative Analyst...
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Size of mortgage bonds markets in Europe I was wondering whether anyone knows how big the MBS market is in Europe in comparison with the US MBS market and the European government bond markets? Also what would be the breakdown between RMBS and CMBS? I was reading the JPM MBS Primer (June 2006) and it said that US MBS was 23% of the US fixe...

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