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Validation and Processing
Once a trade is booked into the trading platform database, it triggers a whole chorus of validation and daily processing. The validation process is a to-and-fro dance between the trading desks in Front...
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Termination
The last lifecycle event of a trade is, of course, its termination. It can be triggered for a variety of reasons. Whatever the reason may be, when a trade is terminated, it calls for settlements and...
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Summary — Life of a Trade
With that we have come to the end of our discussion on trade lifecycle. We talked about pre-trade activities such as the quant work on pricing model, and its validation by an independent team. On a...
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Trade Perspectives
The last section of this post series is on trade perspectives. In fact, our earlier sections on the static structure of the bank and the temporal evolution of the trade have been in preparation to this...
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Quants
If you are a quant, you are a mathematician with an advanced degree in mathematics or physics. Your work is based on both academic research and professional, peer-reviewed publications. You take your...
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Quant Developers
Unlike quants, quantitative developers are more product-centric. Their job is to take the pricing models (the output of the quant effort) and make them deployable and accessible to the traders, sales...
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Middle Office
The perspective employed by the Middle Office team is an interesting one. Their work paradigm is that of queues running in a first-in, first-out mode. As shown in the picture below, they think of...
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Other Trade Perspectives
In the previous posts, we saw how various teams view the trading activity in their own work paradigm. The perspective that is most common in the bank is still trade-centric. In this view, trades form...
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Where to Go from Here?
We started this long series with a pitch for my book, Principles of Quantitative Development. This series, and the associated eBook, is an expanded version of the non-technical introductory chapters of...
View ArticleHow Greece Got Quantitatively Eased
Would it be so bad if Greece left the Euro zone? Here is the story of how Greece got quantitatively eased, and when the Greeks decided enough was enough. From How Greece Got Quantitatively Eased on...
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