Trading Assistant

Hi again everyone! Thanks to all who responded to my last thread - there were some helpful comments. I’m starting to get a sense of direction. I’m considering applying for a trading assistant position (entry level) and would appreciate some feedback about it. I am still learning about the broad range of opportunities available and still don’t know exactly what the various roles entail. What doors would be open after a year or 2 as a trading assistant? Would any doors even be open, or is it a dead-end position? Would I be able to make a move across broader areas in finance after a year or 2, or would I be pigeonholed into a more narrow track? I currently don’t have any finance/investment experience per se, though I have spent a year as an actuarial student in a consulting firm with quite a bit of client-facing duties. Here are some snippets from the job posting: “The Global Commodities Foreign Exchange Desk has a challenging new opportunity for an entry-level associate. Reporting to the Senior Vice President, the Trading Assistant will support the sales force in trading activity and work as part of a larger team to prospect, develop, and build a strong client base. While the position will require a detailed and accurate individual able to multi task in a fast paced environment, the goal of this opportunity is to develop the individual’s skill set through real experience with the potential to fill either a senior sales or trading role. Specific responsibilities for the Trading Assistant include: Fulfill customer’s requests regarding issuing, delivering, breaking warrants, moving funds, account enquiries, closing out trades and complete the necessary paperwork in a timely fashion Input customer’s orders in order book, post EFPs (Exchange for Physicals) and double-check all to ensure price, quantity and specifics match up. Scrutinize details in order to avoid errors Run an end of day recap with customers Promptly answer phone calls and execute customer’s orders Double-check details before filling the order to eliminate errors Analyze reports to gauge desk activity and present analysis to management We are looking for an individual who will make a difference in our organization and possesses the following qualifications: Ability to take and pass the Series 3 within the first year of employment Ability to multi-task: proven effectiveness in being able to manage several priorities simultaneously Operates effectively in a fast-paced, ever-changing, and challenging environment Adept at “thinking on your feet” Assertiveness Superior communication skills Excellent partnering skills Being a team player is critical Mathematical and/or statistical ability is a PLUS” Thanks in advance for your advice/commentary!

Pox - Where are you located?


If you can commute to Greenwich, you might want to consider this position.

Actanalyst, Thanks for the link. It looks like an interesting position but the location is less than optimal. I guess beggars can’t be choosers though…=P

Why do you say that? I work in the same building (not for that firm though) and it’s in a top location with rents in the building on par with Midtown Manhattan. Great spot for commuters

Also, the train station is literaly two steps from the front door…okay maybe 12 steps.

Not that I have anything against Greenwich but I’ll be relocating to long island for personal reasons in July…that would be a pretty nasty commute from Nassau County. Any thoughts on being a trading assistant though? I just don’t know what to expect in a position like that…it’s very different from what I’ve been doing thus far.

I was an options TA, which was a lot of fun and quite diff than the description you posted above. Even though I was a Level III candidate, the interviews I got after quiting were mainly in OPS for some top hedge funds and ended up taking a position in mkt reg in NYC. I’ve found that people have a hard time transitioning from trading into a FO role.

no_slogan, You say that what you did was fun and quite different from what i posted. Would you mind elaborating a little more on what you did? And maybe some resources if you know any off the top of your head to find those kinds of positions? Also, would it be possible to transition from the position described above into say prop trading (non chop shop)? I’m still trying to learn about all the different roles and the more I can learn the better. Thanks for the info!