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Advice on career direction

Ostroff

Ostroff

C++ Certificate
Joined
11/23/11
Messages
103
Points
128
Hi everyone,

I just wanted to ask for your opinion on my situation. I am currently a quant developer at a major trading house, working on some pretty interesting projects that give me a fair bit of intellectual satisfaction.

However, an opportunity has opened up for me to transition into a role at a algo based interdelaer broker firm that is a result of a fairly significant player in the corporate bonds market, entering the local market. My responsibilities would include adapting the trading system for the local markets as well as trading. From what I understand the trading bit is really coming down to sanity checking ideas that have been generated by the algos and executing them. It has been marketed to me as an incredible opportunity to be a part of something from the ground up. And ... well we all know the benefits of that.

Most important thing for me at that point of my career is experience andlearning. So having said that, I would be very interested to hear people's opinions on this. Bear in mind that I am in my early twenties, do not have family and as such it is not so dangerous for me to take a career risk.

However what I am a bit afraid of is any of the two scenarios.
1 - I end up as the IT guy, just running around and setting up servers (I will be the fourth employe in the office).
2- THe whole place just goes bust overnight and I am left with no job (which is an obvious risk).

That being said, I am debating whether a move like that might turn into a bit of a career suicide if it goes south quickly.

Any thoughts on all of this will be greatly appreciated. Additionally if anyone can cast some light on the nature of the business of these type of firms (think MarketAxess like), that would be quite useful. Do they actually try and make PnL out of the order flow or they are just relying mainly on commissions ? Any more information shall be very useful to me.
 
Ostroff said:
Hi everyone,
It has been marketed to me as an incredible opportunity to be a part of something from the ground up.
Click to expand...

Who told you that? The recruiter? You will not know whether this is true until you actually start working.

I googled MarketAxess and if I understand it correctly, it seems like it's a financial technology firm rather than a trading firm. It provides a platform for clients to trade with one another and makes money off charging +bps per trade done. If this new firm is similar, then it is safe to say that you won't end up as the 'IT guy' (since technology IS the business).

However if this new firm you're going to is indeed a trading firm, things would obviously be different.
 
Its not a financial technology firm. It is an intra dealer broker. If you consider that to be e a fin tech company, then I guess you are right. Having that said however, it will be interesting to me to know what is the environment like in such firms. As far as I get it, they do engage in taking a limited view on the market as well as matching sellers and buyers.

It is a technology driven brokerage firm , so yes tech is the main focus there as this is in the core of their business.
 
Anyway, Isn't there someone who can offer a view of what is like to be a developer and execution trader at an Intra dealer broker shop. That would be much appreciated.
 
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