If you've developed financial systems related to trading, fixed income, risk management, FIX protocol, etc, please shoot me an email. I'm looking to get into this industry but I need more knowldege of the industry domain and I'm not sure where to start, although I have some book ideas and things like that. I wanted to get some first-hand advice from a developer already in the field. email@example.com respectfully, SAF [ May 21, 2003: Message edited by: SAFROLE YUTANI ]
Software I work on is for risk profiling private clients. A guy that sits opposite me does loads of FIX stuff. I think 'value at risk' type software is a good field to get into (people generaly want to know 'what are my chances of losing money'). What advise are you after?
posted 16 years ago
Simon, I know that many financial applications, including trading systems, fixed income, etc, use the FIX protocol for messaging and communication. I know there are other concepts, such as credit derivatives, which some systems are also based. I can probably go and read about these topics, but I need to know how "deep" to read into this topics since they are so large. For example, if a financial system uses derivatives for determining risk, does this mean that the developers who wrote the system coded the actual mathematics to calculate the derivatives? I'm willing to believe that there are 3rd party software packages you can purchase to calculate complex math, so in that sense, I could learn about credit derivatives, but I would not need to fully understand the mathematics behind it since I would not need to actually implement it. That's what I want to know, how "deep" in the domain should I read. PS: I'd like to know if at all I can email your friend that develops with FIX. I just want to get some insight from developers in the financial sector. Thanks, SAF [ May 22, 2003: Message edited by: SAFROLE YUTANI ]
posted 16 years ago
I didn't say he was my friend If you want to position yourself as a FIX developer, then get sell yourself cheaply & get a few years experience. Personally I think this about as interesting as watching paint dry. The maths isn't that complicated. But yup, mostly done by 3rd party tools (we use www.idsnet.com for a lot of stuff). Have a browse on the www.wilmott.com forums, you'll learn a LOT.
The key to moving into any industry is bieng able to fit in a related to the customers. For exmaple, you need to understand what derivatives are and how to calculate them. This doesn't mean you need to be able to apply the Black-Scholes formula off the top of your head, but you do need to understand the theory, such that if I explained some deriviative and then talked about how the underlying security moved and how interest rates moved, you should have some clue as to how this would effect the derivative price. I would start by reading some econ and finance books. Then look up the systems and technologies commonly used. You'll be better able to understand them once you have the basic language as a toolset. --Mark