who's tearing it up in this market?

What desks are raking it in, what desks are hurting, and what desks are relatively unaffected by the volatility and/or downward pressure on the equity markets, the dollar, and the intensification of the credit problem? Obviously there's a short side to every long, so I'd be interested to learn who's able to profit most from such turmoil - individual, ballsy traders? or certain groups in general?

 

Commodities has been mostly unaffected by the recent turmoil, and is doing very, very well.

Rates has actually benefited from credit cruch, to a degree.

Equity Derivatives continues to do very, very well.

 

Skins. Are equity derivatives just benefiting from the need/desire to hedge equity risk, or is the rise in equity derivatives something you see getting stronger and stronger in the coming years?

 
The need/desire to hedge risk is what's driving all derivatives markets, not just equities. Business from hedge funds and investors is a big part of most markets, but risk management by corporates is usually a bigger driver. And for that specific reason, <span class='keyword_link'><a href="/resources/skills/trading-investing/equity-derivatives">I think equity derivatives</a></span>, along with many other markets, will continue to see tremendous growth. So I'd answer yes to both of your questions.
 

hey skins, can you elaborate for rates? although you're in commodities, i'd be glad if you could share some insights about bonuses, prospects, etc compared with other sectors...

 
Best Response
I have limited knowledge on Rates in general, but it will always be a very central business to the banks. So like other desks, as Rates becomes more and more focused on derivatives and structured products there should be a lot of growth there. As a fundamental asset class, however, I think the growth will be slower than in, say, commodities, which is still pretty new for most of the banks. 

As far as comp and such, my impression has been that you can do very well in Rates, just as you can most areas in the bank, if you're focusing on derivatives and structured products. I think on average the comp will be less than in something like commodities, but that's really only going to affect a small percentage of each desk in any meaningful way.

 

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