Brian Koch

University:
Dartmouth College

Degree Subject:
Economics

Desk:
Overnight Fed Funds / Emerging Markets

My main responsibility as an intern on the O/N Fed Funds was to work on the boards. Unlike most desks that have everything listed electronically on a computer, the bids and offers of the O/N Fed Funds are listed by hand on a large whiteboard. When working on the boards, I would list the different banks, rates and amounts that the brokers would shout out. I really enjoyed working in this role because, as an intern, it was great to have such an important responsibility while working alongside the brokers.

Working on the boards for the O/N Fed Funds desk was very challenging. It takes a few weeks to fully understand the jargon used by the brokers. Also, there is no margin for error when working on the boards. One small mistake written on the board could ruin a trade so it is essential that you totally focus and ask questions when unsure of anything. However, after a couple of weeks, you start to get used to the fast paced desk and working the boards becomes fun and almost becomes second nature!

Interdealer broking interested me because it is largely a relationship business. Building client relations leads to more success as a broker. As a result, it is essential for a broker to be very personable in order to suit a client's needs. This relationship part of the business really interested me because I enjoy working with others and I feel that I could succeed in building strong client relations. ICAP, specifically, was of interest to me because it has such a great culture. Working here for eight weeks over the summer alongside such great people really showed me how a job can be extremely enjoyable.

Be determined. You need to work very hard to succeed in interdealer broking. Working very hard and having the undying desire to thrive and succeed are essential to get the most out of a career in interdealer broking. That hunger leads to success.

My career ambition is to have a job doing something that I enjoy, while also excelling in what I do. I have found that delicate balance at ICAP.