October 2012
Beginner
368 pages
10h 4m
English
Content preview from How the Trading Floor Really Works
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CHAPTER 12
Where Are the Quants?
This chapter is all about the individual who seems to have the most mystery on the trading floor: the quantitative analyst, also known as “the quant.” Listening to the stories, most people would believe that quants come from Area 52 and are parachuted in on complex issues only. Other stories have the quant secretly running the bank. So what role do they actually play? Their role is primarily one of building the models which most traders use to price their derivatives. The secret is that they are not the experts on how the financial markets work and the traders rarely understand the inner workings of the model. So how can the model be accurate at all? This is where the relationship between the quant and the ...
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