bchadwick Wrote: ------------------------------------------------------- > So the idea is that S&T is a division, rather than > a role. Sales folk get people to buy mostly > derivative or portfolio (ETF) type products, and > the traders spend their time delta-hedging them > (or whatever equivalent hedging mechanism is > required). > > Is that right? No.
bchadwick Wrote: ------------------------------------------------------- > So the idea is that S&T is a division, rather than > a role. Sales folk get people to buy mostly > derivative or portfolio (ETF) type products, and > the traders spend their time delta-hedging them > (or whatever equivalent hedging mechanism is > required). > > Is that right? That is one type of S&T. They might also be doing secondary trading, or trading non-derivatives, i.e. stocks and bonds.
Random example for equity sales; the sales guys from some full service broker picks up the phone to call a pm from a buy side shop about some big new catalyst that just hit acme co. The pm hangs up the phone, takes a look and says, hoo boy I need some of that acme. The pm (depending on the shop) yells at his trader, I want a gazillion shares of acme, things a ten-bagger minimum, just got off the phone with jimbob from random full service brokerage, buy’em from there. The trader for the pm directs the trade / instructions (and commision) to that broker who’s trader in acme co starts working the order… BTW, if there are any traders on here looking for a fresh whipping boy / gopher. I could be your guy.