2019 Global Markets 3 Month Off-Cycle Analyst - Trading - London ASAP Start
Nomura 2019 Global Markets Off Cycle Analyst - London
Nomura overview
Nomura is an Asia-headquartered financial services group with an integrated global network spanning over 30 countries. By ‘Connecting Markets East & West’, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership.
Global Markets overivew:
Nomura’s Global Markets division handles client transactions for financial institutions, corporates, governments and investment funds around the world. We act as market makers, trading in fixed income and equity securities, including currencies, interest rates and credit in cash, derivatives and structured products. We have taken market-leading positions across the globe by leveraging the strength of our talent, client relationships and technology.
Desk Overview:
- CVA trading manages the credit risk which is generated when the firm trades derivatives with clients / counterparties.
- Credit risk is not a static value, but the mark-to-market value of the derivative, and is therefore, a dynamic value based on market conditions.
- Manages the credit risk based on expected market conditions (and how that would impact the mark-to-market of the derivative) and credit quality of the client / counterparty.
Key Tasks:
- Work in a trading team to manage risks across different asset classes of credit, rates and FX.
- Research the credit quality of clients / counterparties – most of the coverage is related to corporate clients.
- Price the credit quality of clients / counterparties using relative value techniques.
- Understand the underlying derivative transaction across FX forwards and options, interest rate swaps, cross currency swaps, and others.
- Apply the credit price (or spread) to the underlying derivative transactions.
- Understand the interaction of the risks of the credit and the derivative transaction.
- Learn how different instruments are used to hedge the different risks.
Desired Profile:
- Research / structuring profiles tend to be well suited.
- Students reading any or a combination of Economics, Corporate Finance, and Laws would be expected.
- Interested in credit research and CVA element of being able to analyse the risks of a client trade.
- Interest in banking business with corporate.
- Strong interest in pursuing the CFA designation.
Languages Required:
- English, additional languages useful
IT Skills Required
- Excel
This opportunity is closed to applications.