Chris Wynn

University:
Pennsylvania

Degree Subject:
Finance

Desk:
Equity Derivatives

Equity Derivatives: Specifically, this desk focused primarily on equity options and was the largest desk I worked on with about thirty brokers. My daily routine consisted of moving around the desk in an attempt to interact with each of the brokers and while the desk was busy I spent time learning about options contracts via the internet. Occasionally, I would sift through the billing records with another one of the newly hired brokers to check for irregularities.

Structured Credit: This was also a large desk with about 20 brokers. Much of my time on this desk was spent putting trades into excel. Afterwards, just as with the other desks, I moved around regularly and talked to as many of the brokers as possible.

Interest Rate Options: This was the final desk I was on and given the amount of time devoted to meetings for our final projects, I had to make the most of my daily interactions. This desk was smaller (about 13 brokers) but they were one of the busier desks as well. Whenever I could I would listen in on the broker's conversations with their clients to get a better idea of how successful broking is conducted.

ICAP set up intern events to facilitate relationships with some of the younger, newly hired brokers as well as to give an opportunity to socialize with the other interns outside of the office. These events included a trip to a local bar and a night of bowling at Chelsea Piers. Towards the end of the internship program the interns were given the task of collecting donations for an organization called Summer Search. This non-profit focuses on giving selected inner city high school students an opportunity to travel, help their community, and ultimately go to college. Finally, one of the last days of the program was spent travelling the city as one group of interns faced the rest of their peers in an all day scavenger hunt for intern supremacy.

My most challenging aspect of the desk rotation was finding the time to abstract the invaluable information each of the brokers has to offer. Each of them are successful in their own right, however, with some desks numbering twenty five or thirty brokers, it was difficult to talk to all of them and hear their thoughts on different aspects of the industry.

Entering the program I did not expect to learn a fraction of the information I left with. This information includes my understanding of the financial service industry, my skills as an interdealer broker, and other bits of knowledge that will benefit me throughout my career both inside and outside of the workplace.

My best advice I could offer someone is to continually ask questions and observe the successful brokers. The information they offer is an invaluable aspect of becoming a great broker.

The most enjoyable aspect of the internship has been building relationships with other individuals. There is much to be learned from other people whether they are fellow college students or senior brokers. Absorbing the information offered to me on a day to day basis has shown me my strengths as well as my weaknesses and will assuredly make me a better individual and businessman.