Reuters certification

[crazybrab]

I have the chance to become Reuters-certified as part of my studies. According to one of our lecturers, an former director from GS, Bloomberg is the industry standard. Just how useful is it to get certified on something apparently redundant (Reuters)?

Thanks,

 

[RichieE]

la hore kebab house - opposite commercial road

I have the chance to become Reuters-certified as part of my studies. According to one of our lecturers, an former director from GS, Bloomberg is the industry standard. Just how useful is it to get certified on something apparently redundant (Reuters)?

Thanks,

I formally worked for Bloomberg. It isn't quite accurate to say that Reuters is 'redundant'. I would say that the Reuters client base is still very strong and the choice between Reuters and Bloomberg tends to be dependent on your particular job. (e.g. Fixed Income Traders tend to use Bloomberg, FX traders tend to prefer Reuters). If you're studying at City Uni or Reading Uni I believe that Bloomberg have 'trading labs' and you might be able to get on the Bloomberg certification course. In that way you'll have both! :smart:

 

[crazybrab]

I formally worked for Bloomberg. It isn't quite accurate to say that Reuters is 'redundant'. I would say that the Reuters client base is still very strong and the choice between Reuters and Bloomberg tends to be dependent on your particular job. (e.g. Fixed Income Traders tend to use Bloomberg, FX traders tend to prefer Reuters). If you're studying at City Uni or Reading Uni I believe that Bloomberg have 'trading labs' and you might be able to get on the Bloomberg certification course. In that way you'll have both! :smart:

That kind of explains it - the guy had spent his whole life in fixed income. Good guess, I'm at ICMA, and seeing we are sponsored by Reuters, I'll go off and get my Reuters certification done anyway. We have just one Bloomberg terminal, i shall enquire if i can get bloomberg-certified too.

thanks for your response!

Crazybrab

 

[RichieE]

That kind of explains it - the guy had spent his whole life in fixed income. Good guess, I'm at ICMA, and seeing we are sponsored by Reuters, I'll go off and get my Reuters certification done anyway. We have just one Bloomberg terminal, i shall enquire if i can get bloomberg-certified too.

No problem! Getting Reuters certified can't hurt you. However, from my experience chatting to desk heads and team leaders in IBs neither Reuters or Bloomberg certification will be looked at as a huge benefit. It's not like having a 'Wilmott CQF' or a proper professional qualification.

If you don't mind me asking, what are you studying at Reading and what do you want to do when you leave? I might be able to give you some insight. (No promises however!)

 

[crazybrab]

No problem! Getting Reuters certified can't hurt you. However, from my experience chatting to desk heads and team leaders in IBs neither Reuters or Bloomberg certification will be looked at as a huge benefit. It's not like having a 'Wilmott CQF' or a proper professional qualification.

If you don't mind me asking, what are you studying at Reading and what do you want to do when you leave? I might be able to give you some insight. (No promises however!)

RichieE,

I'm studying the generic MSc 'international Securities, Investment & Banking' (ISIB) at ICMA. The degree specialisms such as 'trading & portfolio management' or 'risk management' are in IMHO, best avoided. It is rather silly to be a 'specialist' in these areas having only taken 20 or 40 credits in the areas concerned! I find it hard to understand that many will graduate with a specialism in *trading* barely understanding what the bid/ask is and having spent only some 20-30hours in all on simulators!!!

In many ways, the ICMA is and interesting experience for sure, but would probably be more useful if:
More students understood English (currently, about 80% of students are from India/China with degrees such as 'Bachelor of Commerce', lacking basic maths skills and adequate knowledge of English. It is pretty frightening these guys will have a supposedly top-notch MSc without having mastered basic techniques such as calculus/linear regression!

Seeing I completed my undergrad at Bristol in Economics&Econometrics, I’ve opted for a more applied route at ICMA. All my final modules are almost completely applied:

1. Derivatives Pricing & ‘Trading’– should be fairly interesting. Basically, cover Sheldon Natenberg’s ‘Option Volatility & Pricing’ and put this to use on the trading simulators.
2. Bonds Pricing & ‘Trading’ – run by a former MD from GS, should provide some intuitive understanding of how analyze and trade these things. Extensive use of Bloomberg, developing yield curve strategies etc.
3. FX & Money markets: Not that applied, but should provide me with at least a general overview of conventions used etc.

Career-wise, well, if CDOs continue to wreck havoc on balance sheets, I don’t think I’ll be going very far! This aside, I’m considering two or three options:

1. Ideal route would be prop trading through a firm. I realize that in light of the current CDO-induced havoc, this is becoming an increasingly popular and evermore competitive route. I’m not looking for a back door into an IB (been on an internship, not my style!), but more the chance to fight and succeed.
2. Failing option no.1, I would consider, for some time, an interesting analyst role at some smaller firm. Not a long-term solution, but I think the experience would be invaluable.
3. Failing 1&2, I would follow the DIY trading route, and go at it alone. If things did go tits-up, there would be a large gap on my CV and I’m not sure how I would ever explain it! I would like to migrate to this at some point in the future.

Any comments, constructive, critical or absolutely anything, please post them!

Thanks,

Crazybrab

 

[RichieE]

:smart:

I'm studying the generic MSc 'international Securities, Investment & Banking' (ISIB) at ICMA. The degree specialisms such as 'trading & portfolio management' or 'risk management' are in IMHO, best avoided. It is rather silly to be a 'specialist' in these areas having only taken 20 or 40 credits in the areas concerned! I find it hard to understand that many will graduate with a specialism in *trading* barely understanding what the bid/ask is and having spent only some 20-30hours in all on simulators!!!

I totally agree.

In many ways, the ICMA is and interesting experience for sure, but would probably be more useful if:
More students understood English (currently, about 80% of students are from India/China with degrees such as 'Bachelor of Commerce', lacking basic maths skills and adequate knowledge of English. It is pretty frightening these guys will have a supposedly top-notch MSc without having mastered basic techniques such as calculus/linear regression!

I'm kinda surprised. Most universities seem to ask for qualification to prove a minimum standard of English nowadays.

Seeing I completed my undergrad at Bristol in Economics&Econometrics, I’ve opted for a more applied route at ICMA. All my final modules are almost completely applied:

1. Derivatives Pricing & ‘Trading’– should be fairly interesting. Basically, cover Sheldon Natenberg’s ‘Option Volatility & Pricing’ and put this to use on the trading simulators.
2. Bonds Pricing & ‘Trading’ – run by a former MD from GS, should provide some intuitive understanding of how analyze and trade these things. Extensive use of Bloomberg, developing yield curve strategies etc.
3. FX & Money markets: Not that applied, but should provide me with at least a general overview of conventions used etc.

Career-wise, well, if CDOs continue to wreck havoc on balance sheets, I don’t think I’ll be going very far! This aside, I’m considering two or three options:

1. Ideal route would be prop trading through a firm. I realize that in light of the current CDO-induced havoc, this is becoming an increasingly popular and evermore competitive route. I’m not looking for a back door into an IB (been on an internship, not my style!), but more the chance to fight and succeed.

I would try to get into an Investment Bank as a trader. Going to a prop trading house will mean scalping. You won't use your further degree at all. To give you an indication, in most prop shops I would expect the vast majoirty of the students to be fresh 21 year old graduates.

2. Failing option no.1, I would consider, for some time, an interesting analyst role at some smaller firm. Not a long-term solution, but I think the experience would be invaluable.

That's certainly an option and probably more likely. If you become an expert in a specific region you might be able to move across to trading later... not easy, but it is possible

3. Failing 1&2, I would follow the DIY trading route, and go at it alone. If things did go tits-up, there would be a large gap on my CV and I’m not sure how I would ever explain it! I would like to migrate to this at some point in the future.

That's extremely difficult. But if it all goes wrong you could spend some time travelling too... employers will like that! :smart:

Good luck!