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Yes this is what I meant. Basically if your in sell-side trading, corporate flows are your bread and butter. The way it works is some corporate customer has some hedging need and the sales desk slaps on a big fat margin that contributes to the majority of money being made. The trader sees this and he's a greedy sob too so what he does is he quotes the sales desk an internal price that is further away from the true market bid-ask. This usually involves some degree of bickering depending on how well the two desks get along, and whatever the trader is able to get away with contributes to his "trading" pnl. And yes it is as pathetic as it sounds and involves a fair bit of weaseling around. Less the case if your client is a financial institution though, in which case it more depends on how many flows and trades you get and hope it matches off



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