This book provides unique information to prepare graduates and newly hired corporate and investment banking professionals for a career in the global markets environment of large universal and international investment banks. It shows the interrelationship between the three specific business functions of sales, trading, and research, as well as the interaction with corporate and institutional clients. The book fills a gap in the available literature by linking financial market theory to the practical aspects of day-to-day operations on a trading floor and offers a taxonomy of the current banking business, providing an in-depth analysis of the main market participants in the global markets ecosystem. Engaging the reader with case studies, anecdotes, and industry color, the book addresses the risks and opportunities of the global markets business in today’s global financial markets both from a theoretical and from a practitioner’s perspective and focuses on the most important fixed-income financial instruments from a pricing, risk-management, and client-marketing perspective.
Fills the gap between financial theory and real-life situations on the trading floor and in client-facing interactions
Prepares readers for a career in the global markets business of universal banks by helping them decide which part—sales, trading or research—fits their interest and abilities best
Covers most recent trends in institutional banking, including electronic trading, high-frequency trading, statistical arbitrage, or machine learning
Features a practitioner’s view for each main chapter on sales, trading, and research
Fidelio Tata
CIB investment banking trading sales research financial markets a career in investment banking a career in global markets Corporate banking corporate and investment banking trading floor global markets training program global banks financial market theory
“Fidelio Tata's brilliant book offers an exceptionally comprehensive and absolutely relevant perspective on modern investment banking, and especially global markets. Anyone intrigued by the opportunities and dynamics in this space will enjoy reading Fidelio's book. It is a rare source of easy-to-understand, first-hand information and insights on how to successfully navigate and master the field. This book is a practical must-read!”
—Stephanino Isele, Executive Board member and Head of Institutionals & Multinationals, Zürcher Kantonalbank
“This book mixes deep, first-hand experience with a practical, sometimes hilarious ability, pointing out the dos and don’ts for everyone aspiring to join the fast-paced world of global markets.”
—Burkhard Varnholt, Chief Investment Officer, Credit Suisse (Schweiz)
“Read this book early in your career. Its framework will help put subsequent classwork, readings, and experiencesinto context. And the book’s description of institutions and markets in terms of sales, trading, and research is quite unique.”
—Bruce Tuckman, Clinical Professor of Finance, NYU Stern School of Business, USA
“There are practical books about trading. There are academic publications on quantitative finance. There are books that attempt to detail life on Wall Street. But this book is the only one I am aware of that effectively incorporates all three of these subjects.”
Garth Friesen, Chief Executive Officer, III Capital Management
“I wish a book like this had been available when I started my professional career.”
—Mark T. Mueller, Senior Partner, Quant Insight