Question: Guess how many developers are needed in the fx option trading desk at one of world's biggest investment banks? Note this desk handles all fx option trading for the entire bank.
Answer: about 20 world wide including consultants.
The other trading desk in the FX space is the FX cash desk. Not sure how many developers.
If there are 20 similar trading desks in the bank, then total number of _desk_specific_ developer head count is going to be around 500, at most 1000. I think this is a very small percentage (5%?) of total IT head count.
In 2007 GS had about 6000 IT headcount. This bank is probably double. I'd say at least 10,000 IT head count. I would estimate less than 5% of them are directly funded by trading desks.
Now I know why front office trading is a rare opportunity.
Risk developers are classified into 2 types
- some are dedicated to a desk
- some are firm-wide
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