Alessia Morelli

University:
Bocconi University

Degree Subject:
International Management

Desk:
Rotation

The role of an intern at ICAP consists of observing, listening, asking questions in order to fully understand what is going on in the desk. Help is appreciated on the desk when people are busy: doing some research, writing prices on billboards, updating price and interest rate curves in order for clients to be always aware of where the middle of the market is.

As an interdealer broker you have a different perspective on things occurring in capital markets than the one you may have in banks. The job is fast paced and extremely challenging, but at the same time, it has a significant social component that makes it stimulating.

I didn't apply to any banks at all. I wanted something different for me and I think I found it! Certainly ICAP gave me a great opportunity to find a job in finance in the most difficult period ever for this industry.

I received every kind of support and training according to the different styles of the various brokers. I have been taught how to use Bloomberg, how to use the various platforms ICAP provides clients with (Trayport in commodities, Swaps and Swaption platforms, etc…), sometimes I have literally thrown on the billboards to write prices…and that is where the real training starts. You learn a lot about being able to listen to many people at the same time, about the product itself, about the interaction dynamics in the desk and with clients. I have been also taken out to meet a client.

I was assigned a project on the cash equities desk and I had to value a company and suggest whether one should buy, sell or hold its shares. That was challenging as a start. But definitely, when you are new on a desk, the most difficult thing is to understand what goes on; therefore, writing the billboards has been a very good and challenging part of the overall training. Indeed, you may know the technicalities behind the product very well, but if you are not able to think fast and listen to everything around you, you cannot be a broker.

Try it… it is the only way to assess whether it is the job for you. However, always bear in mind it is a challenging job: early mornings, hard work and fast paced. On the other hand it can be really fulfilling and rewarding.