Finance Industry Insight: what is interdealer broking? April 2, 2012
Posted by Kirsti Burton in : Finance, Finance & IT, The Careers Group Blogs, city jobs , trackbackOriginally posted at QM Jobs Blog
In careeers you get to find out about new areas of work and new job titles all the time. These come about because of the way industry has to respond to the rapidly changing world. A friend of mine is a Social Media Monitoring Officer. These jobs didn’t exist a few years ago! Sometimes it can be hard to find out about what particular or specialist job involves, because there is so little information out there. One question we had recently was about interdealer broking. This is what we found out:
Interdealer broking is about bringing buyers and sellers together to execute a transaction. In this field there are two kinds of broking: electronic broking and voice broking (human brokers). With the electronic broking the most common deals are FX-transactions ? these are foreign exchange transactions. It?s easy to buy and sell on the FX market. For more complex products, you need a person to negotiate before an agreed transaction can be reached. In these instances voice broking is used. For example, if two banks were to trade with each other the interdealer voice broker would transact the bond based on instructions receive from the traders at each of the banks.
Due to the recent financial crises there is a lot of new legislation around transparency, which the industry will have to adapt to, as well as greater obligation to transact through electronic mediums. Technology evolving rapidly also means that the broking industry has to constantly adapt.
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[...] Finance Industry Insight: what is interdealer broking? [...]
A great way to test new career inseterts at low cost is to participate in evening classes sponsored by your local public schools or community colleges. I live in the Worcester, MA area, and the public schools in Worcester offer a catalog of programs they call Night Life. Courses are offered during the evening at minimal cost and include a wide range of topics including arts and crafts, business and investing, computers, culinary arts, dance, language arts, music, and even certification programs.Several years ago I became interested in HTML programming, and I took a multi-week course as part of Night Life. The primary value of the course was learning that I didn’t want to do HTML programming!