FX Trading Summer Intern
I'm fairly familiar with the equity markets, but what exactly should I brush up on for a summer FX trading position? Does anyone have any useful links I can check out? It doesn't have to be very in-depth, but I would just like to be familiar with the basics/fundamentals of currency trading before I show up to my first interview.
Thanks guys.
Check out the following sites. Hopefully it helps you out. BTW which firm will you be working for during the summer?
http://www.fxcm.com/forex-vs-equities.jsp
http://www.forex.com/learn.html
These will be very useful for you:
http://www.babypips.com/
http://www.forexfactory.com/
If they are considering you for FX options, read nuclearphynance and the wilmott forums, and go brush up on your hull.
What product group is it, makes a huge difference in prep
Read The Alchemy of Finance by Soros if you have time. Have a pretty good grasp of global monetary policy and the macroeconomics of each country. Understand all global asset classes because they all influence FX. Know some technical analysis (murphy).
I'm rotating on a FX desk now, and I was legitimately surprised by how much technical analysis is used in spot trading. To be honest though, I find spot pretty boring, though the options and exotics is pretty sweet.
revsly I am exactly the opposite. Spot is fast paced and you really have to be able to make decisions quickly. To me trading is about taking calculated risk not doing math hence why I dont like options or exotics.
"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
Nothing wrong with that, there's gotta be someone to do both jobs you know? Learning about barriers and knock-ins/outs and correlations has been fascinating to me.
You're right though, if you want something that is more fast paced, spot is probably more for you (although I was shadowing scandis for awhile and they've had so little flow, so they were mostly prop trading in other pairs, so I guess it depends on your pairs also as far as flow is concerned).
how many people would you guesstimate do FX exotics in the US? I've read Deutsche and Barclays run their desks out of London and UBS out of Opfikon.
My sense is that the center of the rates, FX exotics world is in London and it's dominated by French quants.
Maybe someone can answer that better, I think my firm has like 3-4 that trade options including exotics, then there are quants that back them up, and a few structurers. I don't know if that is normal or what.
FX trading summer internship (Originally Posted: 06/23/2015)
Hi everyone, I just landed a summer internship with UniCredit on their G10 FX trading desk in London. According to the interviewers I will support their three desks (cash, forward and option), but majorly on the option desk. Does anyone have any insight about the bank and the deal flow and what do I need to prepare for it? Apparently it's a small player in the market but hope I can get a chance for some better opportunities.
UniCredit is pretty strong in Southern Europe (esp. Italy), Germany and Eastern Europe, didn't even know they had an office in Ldn though. How much technicals did they ask you during the interview? You should know option pricing :D
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