Published On: Fri, Jun 26th, 2009

Electronic Trading Education And Training

I had the pleasure of speaking with Fran Thompson the new Director of Business Development for Greenline Financial Technologies here in Asia. The topic of electronic trading education and training came up. We both agreeded that the bulk of training tends to come from the software vendors in the interest of product promotion. I recall myself that I earned a GL Trade Product Certification which the firm that employed me actually paid for despite being one of GL’s largest clients in Asia. The certification would expire requiring another re-certification at another cost even though I was using GL Win/Broker, Selector, Export and a few other products the entire time.

Electronic Trading Education and Training

Generally, however, education was trail by fire where their would be some overview provided by senior teammates but after that the onus was on me to become functional in an application or protocol. They never teach you everything. And of course with the ever changing landscape of electronic trading the revenue-focused management would always have another requirement that needed to be supported “yesterday”.

There are reams of other industry specific training available such as the Chartered Financial Analyst (CFA) accredited by the CFA Institute (formerly the Association of Investment Managers) earned by completing 3 years of study covering a large range of topics around Financial statement analysis with an emphasis on ethics. There are many other bodies offering intensive training as we both know. I myself have even had a few inquiries at the website from people seeking ways to earn some experience in electronic trading or looking to expand their existing skill set. My advice to them was to work for free.

A quick Google of “electronic trading training” reveals either training for those who want to trade an asset class electronically or vendor sponsored training. It seems there is a large deficit of electronic trading education and training.

Tell Us What You Think About Electronic Trading Education and Training

What do you think? How has your electronic trading education been provided? What kind of training are you looking for? How would you like to expand on your electronic trading education?

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  1. Santosh Thapliyal says:

    Training in Electronic Trading in my case was very much like learn on the job. I started my career as a technnologist on the trading floor with expertise in Wintel/Novell/Remote access & Desktops.

    As supporting the Traders I soon picked up what was happening around me and realised what application were in use and how they worked from a front end perspective. It was just mattter of time that I was offered a role to support/maintain trading systems. At this point I taught myself several in-house application and learned the data flow in and out of the trading systems. The vendor applications (GL/ORC and FIX) came about the same time and then later I went on formal GL training. I personally don’t think GL training actually provided me any better insight but it does help to get through the door specially in current climate. At this point I moved on to build the environments and soon started looking into connectivity and exchange project management. This gave me insight into vendor mgmt/exchange relationship building/negotiation and wider architecture.

    I think there is no hard and fast rule but key thing is to understand the business and technology and take any training you get through your employer. The best source of knowledge are the exchanges themselves and their documentation. Some exchanges now offer training programs e.g. Deutsche Boerse.

    I agree there is a gap in this area. Starting off as a support analyst on Trading floor is a good place to get an overview of the whole trading scene.

  2. Erik Pigmans says:

    I am looking at this from a different point of view. I was on the trading side and now I see all of these skill sets popping up like VBA and C++. I have never met a programmer that knew how to trade, but it seems as if the programming is the emphasis here. How does one gain theses skills outside of the workplace where employers will see them as valid.

  3. David says:

    I’ve been involved in electronic trader training for several years now having worked with the CME, CBOT, NYSE, LIFFE and other exchanges to help to educate their traders. I started The Trader Training company last year in London and Chicago because I felt that the industry needed an autonomous educational opportunity that wasn’t linked to vendors. The company trainers are trading themselves and the students participate in individual courses and a two week bootcamp. I also place new traders with trading companies if they have talent. There is a lot involved in educating an electronic trader including personal assesment so the education they receive is quite scientific as well as practical.

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