Typical Day

My day typically begins at 7:30 a.m. The Institutional Sales & Trading group conducts a morning meeting where we discuss trades we will be working on for the upcoming day. In addition, research analysts give their views on specific stocks as well as adding market commentary. While listening to the meeting on the phone, I reconcile my trading book to the bank’s systems and ensure that we have an accurate profit and loss (P&L) record. When the morning meeting concludes, I read the newspaper and check Bloomberg for news relating to the companies I’m currently trading.

At 9:30 a.m., the markets open for trading. During the day, I discuss trading ideas with clients and execute trades for them. I also actively manage any proprietary positions we may have. The trading floor is a wide-open space with traders and salespeople constantly shouting information. In this hectic environment it is important to be able to concentrate on your tasks while filtering the information that is relevant to the management of your positions.

After the market closes at 4:00 p.m., I ensure that all trades that I have done during the day are properly booked. Checking the P&L provides a report card for the day. The traders often stay around after the market closes to discuss trading ideas and what our market views are.