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01-11-2011 08:25 PM
Liverpool
Quote:
Originally Posted by Unregistered View Post
Agree with above users; your friend sounds like an account exec / retail broker

Getting a S&T job at a bigger bank is not so easy and typically involves a ridiculous amount of interview rounds (7+), with bizarre questions; for example here is one I googled: Sales and Trading Analyst at Barclays Capital Interview Question - interviewspy

They usually don't bother advertising in the newspaper classifieds either.

Entertainment varies depending on client and own company policies and preferences. Some clients are met for drinks etc, others prefer intellectual conversations revolving around the market.
wow thats one crazy qn!
30-10-2011 11:53 PM
Unregistered Agree with above users; your friend sounds like an account exec / retail broker

Getting a S&T job at a bigger bank is not so easy and typically involves a ridiculous amount of interview rounds (7+), with bizarre questions; for example here is one I googled: Sales and Trading Analyst at Barclays Capital Interview Question - interviewspy

They usually don't bother advertising in the newspaper classifieds either.

Entertainment varies depending on client and own company policies and preferences. Some clients are met for drinks etc, others prefer intellectual conversations revolving around the market.
29-10-2011 03:43 PM
Unregistered
Quote:
Originally Posted by Liverpool View Post
Thanks for the advice. Is it v difficult to jump to being an FX dealer?
No. Just attend one of those seminars, pay up, and you can be one. They advertise daily in the Straits Times.
29-10-2011 11:22 AM
Liverpool
Quote:
Originally Posted by Dealer View Post
Some facts here.

1. Your friend is NOT a FX Dealer. FX dealers don't open accounts. No matter which bank, brokerage, fund etc. Your friend is more like an account exec, (not even considered FX sales if he's not talking to clients about the markets n giving them quotes)

2. FX dealer = FX trader (in banks)
Some bank dealers are given mandate to take positions in the market. So they are known as traders as well. But some other bank dealers cannot take positions in market, but they are still dealers nevertheless. (It's not as simple as just putting in whatever trade your customer wants)

3. In FX lingo, brokers are NOT dealers.
FX brokers are typically money brokers (aka interdealer brokers). They are the guys from ICAP, Tullet, Tradition etc, who match trades btw interbank dealers. Typically for less transparent/liquid products. They entertain the dealers to get their business flow.
Thanks for the advice. Is it v difficult to jump to being an FX dealer?
26-10-2011 03:58 PM
Washout entertainment is the usual dining with the bank dealers/ golf/ ktv/ drinking/ concert tickets. this is how we roll as money brokers. whatever tickles or interest our customers, we'll do it. you need to be a good conversationalist with your clients and fill up all the silence moments with your clients with tallking points ranging from the usual market chat to cars to property to girls. hope this clarify your doubts.
26-10-2011 02:10 PM
Unregistered
Quote:
Originally Posted by Dealer View Post
Some facts here.

1. Your friend is NOT a FX Dealer. FX dealers don't open accounts. No matter which bank, brokerage, fund etc. Your friend is more like an account exec, (not even considered FX sales if he's not talking to clients about the markets n giving them quotes)

2. FX dealer = FX trader (in banks)
Some bank dealers are given mandate to take positions in the market. So they are known as traders as well. But some other bank dealers cannot take positions in market, but they are still dealers nevertheless. (It's not as simple as just putting in whatever trade your customer wants)

3. In FX lingo, brokers are NOT dealers.
FX brokers are typically money brokers (aka interdealer brokers). They are the guys from ICAP, Tullet, Tradition etc, who match trades btw interbank dealers. Typically for less transparent/liquid products. They entertain the dealers to get their business flow.
I'm interested to know more about the entertainment part. Who exactly do they do to "entertain" the dealers?
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