Thanks AlanPerhaps it should have been hold [$]\frac{1}{2a}[$] vertical put spreads, instead of [$]\frac{1}{a}[$]. Which would agree with the payoff on the r.h.s. But there is definitly a typo mistake in the paper.

yeah sorry, latex was all messed up so I had to post it quickly to see if it was actually working.see edited version. I didn't think anyone would be that quick replying

<t>In this paper by Carr, the model is[$]F_t=F_0+a(N_1(t)-N_2(t))[$] where [$]F[$] is the forward price which starts at [$]F_0[$] and jumps up or down by an amount [$]a[$]. Also [$]N_1(t)[$] and [$]N_2(t)[$] are independent Poisson processes. He then writes Suppose we have a lower barrier [$]L[$], i...

well there lies the crux of the problem, I believe Birkbeck take on Phd students to research financial mathematics when they have not done an undergraduate degree in mathematics.

<t>i dont rate Birkbeck at all. i spoke with a financial maths phd student there a while back and he could not explain what a lebesgue measure was, let alone explain what a stochastic integral was I also asked him a question about semimartingale topology and he looked at me as if I was talking anoth...

<t>QuoteOriginally posted by: alghoshHi , Interview panel will consist of people who are not very strong on quants. They are looking for someone who can give more quantitative insight and build financial quantitative strategies. .Sounds a bit strange to me, like they have no one there who is a quant...

<t>Im no expert but..Normally the supervisor has grants which are held by the maths department/school, which they can use to fund phd students. So if you want to do a Phd in Fin maths then find a Uni that have a Financial mathematics research group and approach one of the professors there. If the pr...

<t>QuoteOriginally posted by: HansiThis is just my perspective but there isn't a clearly defined rulebook for what the 'front office quant' roles are called, how they are positioned, what the qualifications are and what they involve on a day to day basis. My team has four 'quantitative analysts' non...

<t>Ok so I think I have it kinda figured out now.So a guy with strong c++ skills but also had strong PhD level stochastic calculus, pricing and hedging skills (i.e. over and above what a MFE grad would have), are not found in front office as a desk quants but instead are in another team specific to ...

<t>QuoteOriginally posted by: bluetrinThe typical setup would be that in every trading/structuring team, you will find a few guys doing spreadsheet and implementation work and working closely with the traders and structurers hoping to move to a FO position.These quants are not allready FO desk quant...

<t>QuoteOriginally posted by: spv205flashcrashI guess your definition is just totally confused. so as people said a bank might have 50-100 front office quants [who may or may not work directly on trading floor] who are responsible fro implementing models in C++. they are not simply fixing bugs... ha...

<t>QuoteOriginally posted by: rt5883Hi,Lets say I learn C ++ , and now how do I prove that I have good expertise and can work as a programmer. I need to have some work that can speak !! right !??Contribute code to quantlib, Im sure if you added some new pricing engines that would be looked most favo...

QuoteOriginally posted by: GamalDidn't anyone tell you that a contribution to a conversation consisting only of questions isn't polite?Sorry, I wasnt trying to be inpolite. just seriously confused sometimes about who a FO quant is. But thankyou for your answers they were a help.

<t>QuoteOriginally posted by: ashkar Rest of the team sits separately from trading. So there is another team of guys, many with Phd's but most not, who do derivatives pricing for new products being punted by the traders in FO, but are not in FO? Is the trading floor of a Big bank front office? are t...