Derivatives Trader vs Wholesale Trader (Optiver)

[mufafa]

Was on the Optiver website recently.

They seem to have positions for Wholesale traders as well as Derivatives traders. I've gone through the job description and have only understood that Derivatives traders are market-makers. Would somebody be able to explain to me the essential difference(s) between the two?

ie.:
1. Difference in role/duties?
2. Difference in pay packages?
3. Would a Derivatives Trader = Market Maker. And Wholesale Trader = Prop trader?
4. Difference in future prospects? (does one or the other have better prospects, with other firms as well)
5. Which one is a 'better' role? (Might be a bit of a repetitive question ... Reason is that I am quite strong both analytically as well as communicatively - so I was trying to see which might be a better role, in the long-run).

Thanks - appreciate any advice that you all can give.

 

[mmone]

wholesale = more sales/relationship with brokers, dont have own book
derivatives = market maker

 

[grant_3103]

I don't want to sound like an idiot, but if possible can you actually expand upon the duties (i.e. specific details) of a wholesale trader?

 

[HoodTrader]

Wholesale is flow driven, you sell things to your clients and trade on that basis.

I cant tell you which is better, but wholesale is probably better for client contact.
Derivs is probably better for developing your own ideas and learning about models.

Both would be pretty good in terms of other houses/banks use exactly the same principles and deal with clients. I would say the contacts you get as a wholesale trader can be the best tool in this industry if you want to go far - but you need that talent of networking your way around

 

[bambouk]

Wholesale probably refers to the Deutsche Bourse idea of 'wholesale' ie. broker market.

While other traders are doing the exchange traded 'on screen' trading. Probably quite some effort made in arbing between the two pools.

 

[functoriality]

otiver - trading roles

Note that Optiver requires much lower scores on their numerical tests if you want to be a wholesale trader.

Since they say that the test is meant to see how you react under pressure, can anyone explain this?

 

[Largesse]

is there a difference in salary between the derivs and wholesale traders?

i'd assume the derivs would start with a bigger basic. correct?

what are the actual starting salaries + bonus for each position?

 

[nezihkaraman]

i was asked to come in for a numericla test does anybody know what I can expect

 

[bambouk]

Yeah... expect a numerical test...

The wholesale traders presumably make quite a bit less than the deriv ones in bonus. Base is all very similar in everything anywhere. Base is just... meaningless.

 

[nezihkaraman]

thank you bambouk, I meant question wise, what are the questions like. where can I study from, how can I prepare myself

 

[bambouk]

All numericals are just a case of practice. And numeracy in general, is the same skill re-applied.