Question about commodity S&T position at bulge bracket bank
I was hoping someone could provide some direction on what these terms mean? These are different functions of the S&T program at one of the banks I am applying to. These positions are typical at most banks such as GS, JPM, etc. If someone has some in depth knowledge of how these functions play a role in the bank's S&T operations, it would be greatly appreciated.
These are in reference to a commodities S&T position.
Marketing, Origination, Structured Products, Principal Investments.
Any advice on these terms would be greatly appreciated.
Varies from firm to firm but in general:
Marketing: Selling a particular commodity on behalf of a source (refinery, ethanol plant, crude wells, mine)
Origination: Buying (sourcing) a particular commodity on behalf of client/your own internal short.
Structure Products: Broad term but mainly dealing with the trading or market making of instruments with more complex pricing structures--this could be a simple WTI-Brent spread or a RBOB Gulf coast basis swap with NYMEX trigger.
Principal Investments: Investing (longer time horizon than prop trading) firm's own capital in companies, funds, commodities and anything else that can make money.
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