As the name suggests, traders buy and sell financial instruments, quoting 'bid and offer' prices to clients and counterparties on request, and generating profits.
The success of these businesses at Barclays Capital is unsurpassed and we continue to expand at a very impressive rate. Traders add value by thinking on their feet, knowing where liquidity lies and building strong relationships to exceed client needs. You'll start out as an assistant trader, booking trades and checking risk positions as well as co-ordinating with other traders and market participants – which will mean plenty of professional exposure early on and lots of responsibility. As you progress, you can expect to take on your own product portfolio and develop as a senior trader.
You'll need to be focused, with strong analytical skills and the ability to read the direction of the market. Traders are quick, accurate decision-makers and have a strong yet measured appetite for risk. As well as demonstrating motivation and resilience, traders are expected to operate in a team environment while coping in stressful situations. This is because trading requires keeping a cool head while working in a hectic and dynamic atmosphere. It's certainly not a job for the faint-hearted!
To give you a better perspective of what’s involved in a Trading career we asked Eric Felder, Head of Global Credit Trading, what misconceptions he frequently encounters about working in the Trading team.
“Many people don’t realise that trading combines a number of functions. It’s not just about buying and selling, as is popularly thought, and there is significant liaison with clients and research teams. There are also both simple and more complex products, which are traded at different frequencies, so some trading roles are faster-paced than others.
“Nor is it a role where people work solo. It’s very team-orientated – traders help each other out and interact across products and regions, indicative of the way the world has become more connected. For example, a US credit trader might talk about products outside their area to accounts and sales people in Europe or Asia. Not all traders have a math or quantitative background – many of our best traders have an arts background – so sharing expertise is fundamental.”