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If definition of pricing model is some code to determine the best price for market making/quoting then sure. But to be precise (based on industry) I wouldn't really call these pricing models. They are really strat/trading work.The core of derivative pricing is no-arbitrage. Or to be more precise, portfolio replication (that's how traders think when hedging it).I would take the statement of significant amount of quant work with grain of salt. Not trying to pick a fight here but I guess it is just a matter of taste but to me it is fcking left join all day lol...eTrading is all about flow/quote optimization based on market colour. The technique used is honestly completely different than traditional quants. Frankly, your description of the role is pretty damn accurate.On the three skillsets you mentioned, the 1st one is probably the most important. Often in big shop, these 3 roles are seperated. When that happened, you often see very bad quality of code from folks doing the 2nd mandate, while the guy who implement the execution doesn't know shit about the product/bussiness. This is even worse in my opinion for new grads. The turnover rate is insanely high for this setup but managment doesn't care since they seperate the pieces so small.FYI i was a former strat myself. And i thank god everyday that i am no longer one :P
If definition of pricing model is some code to determine the best price for market making/quoting then sure. But to be precise (based on industry) I wouldn't really call these pricing models. They are really strat/trading work.
The core of derivative pricing is no-arbitrage. Or to be more precise, portfolio replication (that's how traders think when hedging it).
I would take the statement of significant amount of quant work with grain of salt. Not trying to pick a fight here but I guess it is just a matter of taste but to me it is fcking left join all day lol...
eTrading is all about flow/quote optimization based on market colour. The technique used is honestly completely different than traditional quants. Frankly, your description of the role is pretty damn accurate.
On the three skillsets you mentioned, the 1st one is probably the most important. Often in big shop, these 3 roles are seperated. When that happened, you often see very bad quality of code from folks doing the 2nd mandate, while the guy who implement the execution doesn't know shit about the product/bussiness. This is even worse in my opinion for new grads. The turnover rate is insanely high for this setup but managment doesn't care since they seperate the pieces so small.
FYI i was a former strat myself. And i thank god everyday that i am no longer one :P
