Which desk to pick at DB London?

[A Dashing Blade]

Dear RogueTrader,

. . . And its not about trying to match my personality type to any product, its purely about trying to maximise my chances of getting an offer to train on a highly profitable desk with a good industry reputation.
. . . .

You'll last about 18 months Chris with that attitude, roguetrader's spot on imo about finding a product that suits your personality (serious)

Btw, my comment on their equity deriv desk was not base on opinion.

 

[mcd]

DB Desks

I used to be a trader at DB London in Fixed Income, i.e. bonds, Financing and Lending (known as the Repo Desk) and also traded Forward FX at Mizuho. It may seem a little biased if I suggest you choose these two desks but I'll try and justify the choice rationally.

By choosing forward FX you not only gain a knowledge of Spot FX but also a knowledge of cash deposits and interest rates futures due to the interdependent nature of these markets.

By choosing Fixed Income Financing and Lending, i.e. Repo, you again get an insight into the cash deposit market as you are lending out cash against the bonds as collateral on the cash loan. You will also gain an insight into Fixed Income markets and Fixed Income Futures. The Repo desk is a very profitable desk within DB London Fixed Income and well respected within the wider Repo market.

Having a solid first hand trading knowledge of the interrelationships between global markets will stand you in good stead for the future if you wish to climb the food chain beyond Desk Chief Trader level.

BTW, most institutional traders wouldn't survive long outside the corporate environment and when it comes to raw (proprietary) trading skill are a fairly overrated bunch. When you're there, ask some of the more seasoned traders the question: "Why are there so few dealers over 40?" The answers, if they are being honest, will give you an insight into institutional trading as a career choice and may help you decide what is right for you.

Best of luck and enjoy the experience .

 

[stevespray]

I used to be a trader at DB London in Fixed Income, i.e. bonds, Financing and Lending (known as the Repo Desk) and also traded Forward FX at Mizuho. It may seem a little biased if I suggest you choose these two desks but I'll try and justify the choice rationally.

By choosing forward FX you not only gain a knowledge of Spot FX but also a knowledge of cash deposits and interest rates futures due to the interdependent nature of these markets.

By choosing Fixed Income Financing and Lending, i.e. Repo, you again get an insight into the cash deposit market as you are lending out cash against the bonds as collateral on the cash loan. You will also gain an insight into Fixed Income markets and Fixed Income Futures. The Repo desk is a very profitable desk within DB London Fixed Income and well respected within the wider Repo market.

Having a solid first hand trading knowledge of the interrelationships between global markets will stand you in good stead for the future if you wish to climb the food chain beyond Desk Chief Trader level.

BTW, most institutional traders wouldn't survive long outside the corporate environment and when it comes to raw (proprietary) trading skill are a fairly overrated bunch. When you're there, ask some of the more seasoned traders the question: "Why are there so few dealers over 40?" The answers, if they are being honest, will give you an insight into institutional trading as a career choice and may help you decide what is right for you.

Best of luck and enjoy the experience .

Took the words right out of my mouth. No mumbo-jumbo and to the point.....

Pick two desks where the instruments relate to each other in some way.

No point picking Equities and Forex for example - the two don't relate to each other directly.

Forex and Fixed Income gets my vote by a mile - pure common sense. Think of all the 'extra work' you'll have to do if you pick two areas which are diverse? I'm talking about daily / weekly readings and briefings and the other hoops you have to jump through at these big firms.

Only downside with Fixed Incomes tends to be early starts.

Steve.

 

[TWI]

If you can't make a decision on your own you are probably doomed and I suggest you try settlements.

 

[CHRISTO9HER]

If you can't make a decision on your own you are probably doomed and I suggest you try settlements.

There are many words that I could use to describe this comment, but as its nature is ultimately reaction seeking, to list them would only fulfil the ambition of the "legendary member" (well done) who took it upon himself to enrich all of our lives by writing it.

Anyhow, the responses from MCD and SteveSpray have been great (thanks guys). Even if this decision is not that important, those who have answered constructively (and I include RogueTrader and Gamma Jammer in that category) have helped me in some way to improve my knowledge, which can only be a good thing.

I would have thought that starting out, the person who should be in settlements would be the guy who doesn't ask questions, not the person who does.

 

[Kap]

I used to work on the floor, equity Derivatives is doing very well, still know thr guys there, PM if u want some advice. u will very likely get moved around in your first year from desk to desk, they will expect a lot - but in the end its more who u get on with thats gonna work..believe me its who u get on with that counts.. and were\their all cowboys in the end, my 2 cents