Advice Please!

I work for an investment bank. I'm not a trader but work in IT (supporting traders now and then but mostly other bank staff).

I'd like to trade while still holding a full time job. The snag is, I cant officially trade while I work. The compliance department have made that crystal clear.

So what do I do? One idea I've come up with is to trade shares or CFDs but over days rather than minutes or hours (as I cant constantly keep an eye on prices or execute trades immediately).
Another idea is to trade other investments or US shares as the market is open when I finish work. But the problem here is I know next to nothing about US equities or say, currencies. All my experience is with UK equities. Which market offers the best potential?

Are these good ideas?

King Tut,

I'm in a similar position with you - however I trade (SB) stocks and indices - its long hours. In regards to compliance - You should be open with them. From memory if you hold any financial instruments (SB included and CFDs) for less than 30 days you will have to tell them - I dont think it matters where u trade as well.


IT will obviously not allow you to intratrade (unless you can get a proxy IP address to yourlsef).

KT - I assume you're UK based. If you choose to trade US stocks (which would be my advice) out of UK office hours, your compliance people will have a tough time prohibiting your endeavours.

From your post, I'm getting the impression it's the 'during working hours' (reasonable enough) rather than 'trading per se' which is the issue. In which case, I'm not too sure why it's compliance getting involved rather than a regular HR issue.

However, even with a US out-of-UK-hours scenario I suspect you'll need a 'nod' from compliance (plus a sheet or two of signed stuff...).

You could of course take the position that you might not get found out...not an approach I'd recommend of course, but I am ultra cautious.

King Tut,

I have been in the same position. When I worked with HSBC we had a minimum 60 day holding period for all stocks bought on our own account and had to have every purchase/sale signed off with compliance.

I would SB after hours and not tell them. They are unlikely to find out - unless you are acting on inside information - and if you do tell them they will tell you not to do it - I can almost guarantee that.

AT