It's funny to think some of the world's largest trades are being done in something that resembles a game's tradechat. (WTS bonds)
I am not making this up.
There were custom frontends that would enrich things like cusips.
Used Trello a lot before it got sold to, and damaged by contact with, Atlassian. FogBugz looked cool…but I had to use an old version of Bugzilla.
I didn't know Glitch existed until this site had a notice that it Glitch would be shutting down. Surprised me FCS had anything to do with a game, and seems it wasn't a good fit. I like the style though, and downloaded some of the art and variations on the Groddle theme before it died.
You’re thinking of investment banking, corporate finance. Trading has always been the place folks from less privileged backgrounds got into finance. In the old days, Jews. (Like, into the 50s.) In the 80s, poor schmucks.
I’m not in the trading world though so I haven’t met the ones that don’t fit this description.
But exactly zero of the people I know who were raised in either poverty or mediocrity are traders or involved in finance, aside from maybe accounting.
Of course, this is all anecdotal - but I’ve only ever seen Bloomberg terminals outside of office settings in the apartments of wealthy children.
Perhaps things were a bit different decades ago, in the scrappy past, but it feels like most higher earning spheres are closing in around pre-existing wealth.
I was. Algorithmic derivatives. The rich kids went into banking. Their connections bought deal flow. Those of us from public universities mostly went into trading. It’s why it’s been looked down on within Wall Street since basically ever.
> I’ve only ever seen Bloomberg terminals outside of office settings in the apartments of wealthy children
Parents buying their kids Bloomberg terminals aren’t looking for them to get into trading, they’re training them to start a hedge fund.
(I’d also guess a minority of folks with a BB are traders. It’s really more of a vetted calling card.)
That has changed in the last 20 years or so but only because those jobs have effectively gone away. They are the factory jobs of the finance world. They succumbed to the automation impulse that started in the 80s and reached its zenith in the early 2010s. Traders basically don't exist anymore, a computer can do the job much more effectively. So much so that I was shocked when I _encountered_ a real live trading desk as part of a recent job move.
Trading can bring down a bank (e.g.Barings) but is not a big systemic risk.
Anyone else old enough to remember scripting a tradebot in Asheron's Call?