how about ML's rates and currencies S&T team?

How about ML's rates and currencies S&T team?
Is it a strong desk?
What's the difference between rates and fixed income products?

Comments (8)

GordonsGecko

Rank: Senior Baboon
237

Jan 13, 2010 - 6:07am

Its a very good team - well currencies - no clues abotu rates

Rates is a FICC product

FICC in general trades rates, currencies, commodities

Rates will cover interest rate swaps, bonds, loans, all that sht, currencies is straight forward and then commodities

ML currencies is run by a mix of ivy / non ivies in NY - they're from everywhere but apparently do good business

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skyshen

Rank: Chimp
6

Jan 13, 2010 - 6:12am

Thanks for your answer.
Do you know the career path for those currencies guys?

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untilted

Rank: Senior Orangutan
417

Jan 15, 2010 - 7:44pm

GordonsGecko:
Rates will cover interest rate swaps, bonds, loans, all that sht, currencies is straight forward and then commodities

loans = credit, not rates

rates: treasuries, agencies, inflation-linked products, rate swaps and swaptions

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Revsly

Rank: King Kong
1,917

Jan 16, 2010 - 3:02am

untilted:
GordonsGecko:
Rates will cover interest rate swaps, bonds, loans, all that sht, currencies is straight forward and then commodities
loans = credit, not rates
rates: treasuries, agencies, inflation-linked products, rate swaps and swaptions

Honestly not sure what he originally meant, but he could mean repo market, which is usually placed under rates.

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Jimbo

Rank: Neanderthal
2,643

Jan 13, 2010 - 10:37am

"Do you know the career path for those currencies guys?"

What do you mean? The career path for traders is similar at all shops. Assitant, junior trader, senior trader.

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skyshen

Rank: Chimp
6

Jan 13, 2010 - 11:21am

I think FX trading isn't so technical as options or other fixed income securities. For this reason, there is no big space for innovative idea. If so, FX traders' work seems a little bit boring.
I know some guys, who used to be option traders or fixed income traders, are running their own hedge funds. But I'm not sure whether FX trading experience is useful to a hedge fund porfolio manager.

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Revsly

Rank: King Kong
1,917

Jan 13, 2010 - 1:03pm

skyshen:
I think FX trading isn't so technical as options or other fixed income securities. For this reason, there is no big space for innovative idea. If so, FX traders' work seems a little bit boring.
I know some guys, who used to be option traders or fixed income traders, are running their own hedge funds. But I'm not sure whether FX trading experience is useful to a hedge fund porfolio manager.

I think you are a bit confused. FX encompasses the whole product... meaning spot, forwards, vanillas, flow exotics and structured exotics. I would argue that FX has one of the largest structuring (aka innovation) units, due to the fact that FX is the most liquid product.

If you are talking about a spot (and maybe forwards) trader, then in general, yes they are less technical. But there are plenty of more complicated options in the space. The macroeconomic analytical ability transitions well to global macro funds.

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