Market making group exercise

Hi,

I have an interview coming up that involves a group exercise, I'm guessing that it's going to be a market making game.

Does anyone have any links or resources that show and explain how such a game would work?

Thanks

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Oct 13, 2018 - 11:53pm

My boss way back when used to play "the fixing game" and I've seen several variations of that game since then.

The one I was taught was played with a deck of cards, keeping only the numeric cards and the aces so you get numbers from 1 to 10. Each player is dealt 4 cards and 4 more cards are set aside on the table. The "fixing" is the sum of the 4 cards on the table. At each turn, a player makes a market on what he expects the "fixing" to be. If someone is interested, he buys or sells it from you and the trades are written down. You keep doing it until everyone is "done" then a card in the middle is opened. The process repeats until all cards in the middle are open and then the "fixing" is in.

It actually is a pretty fun game to play at a party (especially using real money, say a dime for each fixing point), yet it teaches you a lot of things - calculating the expected value using information at hand, using proper risk management to stay in the game and most importantly reading the market and market participants.

I have a friend who lives in the country, and it's supposed to be an hour from 42nd Street. A lie! The only thing that's an hour from 42nd Street is 43rd Street!
  • 6
Feb 22, 2021 - 12:19pm

Can anyone also PM it to me as well?  I would really appreciate it! 

To the moon!!!!

 

  • Analyst 1 in PropTrad
Feb 24, 2021 - 12:57pm

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Sep 5, 2021 - 8:19am

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