𝐀 𝐃𝐚𝐲 𝐢𝐧 𝐭𝐡𝐞 𝐋𝐢𝐟𝐞 𝐨𝐟 𝐀 𝐆𝐨𝐥𝐝𝐦𝐚𝐧 𝐒𝐚𝐜𝐡𝐬 𝐀𝐥𝐠𝐨 𝐓𝐫𝐚𝐝𝐞𝐫

With Algo Trading roles getting more popular in 2023/24 across Investment Banks and Hedge Funds it’s reasonable for students to get more curious about what the role involves (and not confuse it with traditional S&T roles! One of our Quant coaches shared what his typical day looks like- here's what you can expect:

5:00 am- Wake up & get coffee to start my day

6:00 am- I reach office and hit the gym, shower, and get a bagel for breakfast

7:30 am - 9:15 am- Get to the desk. Login to Bloomberg, monitor market updates and client calls/ emails. I start responding to clients, assess their trade objectives for the day, and formulate recommendations on certain trades that they need advice on. I’ll deploy certain algorithms and even go to certain markets directly to fulfil their trade requests and get ready for the Opening Bell.

9:30 am Opening bell time! I make sure that orders are coming in and flowing down smoothly, communicate with clients to confirm trade executions and devise resolutions for delays or problems on certain exchanges etc. 

9:30am- 12 noon- I handle Trading, Monitoring Fills, and Execution Reports.

The floor may be abuzz with more activity on days that an IPO is being released, etc. But otherwise, the trade floor excitement starts quieting down around midday. I use this time to monitor trade execution reports for clients and send them out. I’ll reply to client queries on trades, how they should execute a certain trade, or recommend an algorithm to use that may best suit their needs. I analyse trades to evaluate potential improvements on our strategy to maximize client returns

12:30 pm - Grab lunch to eat at my desk, unless I have a client lunch. 

12:30 pm to 2:30 pm - Focus remains on Trading, Sales Calls, Execution Reports

If there’s no special event (IPO release/ exchange problems/ system-wide issues), besides analysing trade execution reports, it’s time for Sales calls.

I’ll contact clients for sales calls to recommend any new products / algorithms that we’re rolling out, explaining how it may be useful to their strategy in achieving their trading goals. 

I will also conduct sales calls to new clients to onboard them as trade partners by pitching key services. 

2:30 pm to 4:00 pm (Closing Bell)- Liaise with back office to resolve issues related to receivables, billing, or clearance. As the closing bell approaches, activity picks up with clients chasing to send in market-on-close orders. I monitor Bloomberg, reply to client emails/ chats, and complete pending trade executions.

4:00 pm- 5:00 pm- Contact the exchange on behalf of clients in case they don’t see a fill, and provide an explanation. Send back trade execution data. 

6:30pm- Leave work for either a client dinner or networking / post work drinks! 

Want to know how to crack such roles in 2024 / 2025?

Registrations for the Asia Quant Academy are open now. We are only taking 30 students for the Summer 2024 Cohort. Applications start now and will be closed on 22 March 2024. Selected students will be invited for a virtual briefing and further assessments.

Check us out at https://www.asiaquantacademy.com/ to find out more details.