What is S&T?
What does S&T division mean?
S&T or sales and trading is a division of a bank or financial firm that helps institutions buy and sell financial securities. They are liquidity providers and market makers. They help buyers and sellers find each other especially when moving large amounts of stocks, bonds etcetera.
Financial securities include equities, fixed income products, commodities, crypto currency, interest rates, derivatives, swaps, mortgages, and municipal bonds among other things.
What does the Sales and Trading Division Do?
The jobs of sales and trading is traditional divided among sales people and traders (although some employees do both jobs).
Sales people typically are on the phone with clients understanding their strategies, bringing them trade ideas and market updates, and working with them to transact on what they want to do in the markets. They are responsible for maintaining a relationship with the client so that the trader at the hedge fund or asset manager will choose to call XYZ Bank over ABC Bank when they need to make a trade.
Traders are typically responsible for knowing the product that they trade to an intense level of depth. When a client decides to transact on 1 million shares of Apple stock - the trader will find a way to move the security while having as minimal of a price impact as possible.
Who are the Clients of the S&T Group?
The clients of the sales and trading division are all different types of asset managers such as hedge funds, pension funds, endowment funds, prop trading firms, and even corporations. They do not work for high net worth individual clients.
Preparing for an S&T Interview - check out a popular WSO post about Sales and Trading interviews.
Read more about this topic on WSO:
- Institutional Equity Sales and Trading
- Sales and Trading Best Desks
- Sales and Trading - A Complete Guide
- Sales & Trading Interview Questions - Gekko's Guidance Part 2
- 2018 Sales and Trading Recruiting (Intern)
- Top Sales & Trading desks
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