Finance & economics | Buttonwood

Banks, at least, are making money from a turbulent world

It is once again a good time to work on a trading desk

A trader shouting into two phones takes off like a rocket with computer screens for wings
Illustration: Satoshi Kambayashi

Working on a trading desk is perhaps the closest an office job can get to a sport. Focus and reflexes matter. On the other side of every trill of the phone or ding from a computer is a client who wants to trade. If ignored, they will hang up and call a competitor. Everyone is sweating, owing to the heat wafting up from stacks of computers whirring at capacity. On a busy day, it is impossible to leave the desk—making the job a feat of endurance. Just as sports teams use code to communicate their tactics, so do traders: “cable, a yard, mine, Geneva,” translates to “Brevan Howard, a hedge fund, is buying £1bn and selling dollars.” Mistakes cause swearing, shouting and sometimes the smashing of equipment.

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This article appeared in the Finance & economics section of the print edition under the headline “Take-off”

From the May 11th 2024 edition

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