Welcome to 如何在Olymp Trade平台日赚25美元 eToro
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投资银行里 Sales 和 Trading 的区别是什么?具体的工作内容和状态又是什么?
由于现在的金融市场越来越复杂(原因当然是因为玩家想尽一切办法获利,而监管机构为了保护整体经济和大众,会有各种各样的要求。一般来说,越大的投行受监管越严,因为稍有不慎,波及面更大。但正所谓上有政策,下有对策,这些投行也就不得不推陈出新,想出新的方法和越来越复杂的产品来赚钱。)很多情况下,这些新产品可能涉及几个相应的产品分类,我们一般叫做结构性产品(Structured Product),例如一个“S&P500的期权,但交付的条件是利率在3%以下“,这就涉及利率和股票两种产品。
在每一个业务里面,Trading一般会按照更加细化的产品分成不同的Desk,比如股票衍生品可以分成股票指数(S&P500 ,NASDAQ…)和个股(Facebook, Google…)Sales则一般按客户类型分,比如有负责对冲基金的,有负责资管公司的等等。当然每个投行的具体结构可能会有差异,但Trading需要对市场、产品报价、风险对冲更了解,而Sales主要负责维护客户关系,因而有了这样的分类。
我在华尔街的九大投行之一做trader,在这里我简单地为大家介绍一下Sales & Trading部门到底是干什么的,外资投行在trading floor的岗位有哪些,Trader的真实的薪资待遇以及工作时间。
当你需要买一个相对复杂的金融产品时(比如股票衍生品、外汇期权),这个产品不是凭空在变出来,你一下单市场上就有卖家愿意卖给你;而是需要有投行的trader在金融市场中提供market making(做市),从而促成交易。而投行中trader工作的本质就是提前购买好相对应的金融产品的inventory(存货),在有客户大量下单时选择合适的价位和数量卖给客户,从而获取收益。更近一步来说,整个金融市场之所以可以随时随地地高效率交易,正是因为有了投行的trader在背后支撑做market making。
Macro(宏观的金融产品,包括了FX外汇,而外汇又分FX Spot,FX Forward, 和FX option)
Equity (股票类金融产品,包括了最基本的股票,股票的衍生品Equity Dedriviative, Structured Securities Products)
Fix Income(固收类金融产品,包括了企业债券Corporate Bond,国债Treasuries,利率Rates以及固收类衍生产品)
Credit(信用类产品,包括了信用衍生凭证Credit Default Swap和企业债券Corporate Bond)
S&T面对的主要客户是对冲基金(hedge fund)、自营交易(prop trading)、其他投资银行、国家银行、商业银行和国际性金融组织(如世界银行)。
2. S&T部门的薪资待遇
底薪 奖金
其实一份工作的本质,对于个人发展来说,是平台、跳板和出路。我当时下定决心去华尔街做trader时,就想得非常清楚,潜心去学习核心交易模式和积累经验,五年之后开设自己的fund。想清楚自己想要什么,再去做相应的工作,我认为这样才不会后悔。
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