QuoteOriginally posted by: archlightQuoteOriginally posted by: AlanStandard question from traders: "Suppose you need to move 3-month USD Libor by 0.2 bp from yesterday's fixing? How much do you alter your submission?" By moving 3-month libor it only significantly affects one payment period. it isn't equivalent to shift entire forward curve by 0.2 bp, am I right? so i think change of npv is small. maybe for pnl it changes a lot on that day but i thought it is meant to be MTM. No -- if the bank is a net payer of a particular Libor on a given day, say $80 billion notional, then lowering the thing, say 0.5 bp on that day is definitely worth it. Do the arithmetic. Barclays, March 10, 2006:Quote We have about 80 yards fixing for the desk and each 0.1 lower in the fix is a huge help for us Hey, this is manipulation 101,

QuoteNo -- if the bank is a net payer of a particular Libor on a given day, say $80 billion notional, then lowering the thing, say 0.5 bp on that day is definitely worth it. Do the arithmetic. True. I underestimate size of entire portfolio.

QuoteOriginally posted by: archlightQuoteOriginally posted by: AnomanderisI know application support. It's level 2 work (level 1 is helpdesk, 2 is application support, 3 is programming.) Basically, you will support the applications they use on a daily basis. For IRD, that will be mainly batch jobs and flow issues. A few trade capture/pricing issues as well (Rates doesn't have high volume).So - Unix, SQL, Scripting.it is for IRDFX flow desk. what product does it deal with, IRS, NDF, xccy IRS...?Odd. Some banks (I've heard) have their FX trading desks in the same department as Rates - there's a lot of flow between both teams. If that's the case, you'll likely be in a team supporting the entire FX business (Spot/Fwd/Options/Rates & IRD). If not, you'll still need to get involved in the internal "flow issues" between the core FX desks and the Rates application (Rates is all still about currencies). I honestly doubt you'll do all that much with the Strats apart from providing the same amount of support that you give to the desk, and perhaps running the "changes" they script up for you. It's a tricky one - I've not yet seen anyone cross over from Support to the quant teams, perhaps from programming, never support. Then again, if you're really, really good, you can make the step from support to core dev..... etc

Today's interview goes well. @Anomanderis is right. It is from IT support perspective that they put FX and rates together. One thing I like most they are gonna to move vba tool to python based and there will be chance working with quant team in terms of deployment and release. It might not be glamorous for quantitative mind here but it is good start point for the guy from trade processing domain.