Model for analyzing currency trades data for patterns and profitability; Merrill Lynch Hong Kong

Abstract

The internship was for a period of 8 weeks. The induction session for a day was first held in Mumbai where we had industry experts come and speak to us giving us insights about the business. I was a part of FICC Trading Desk, mostly on currency trading, Interest rate and Options desk. Most of the learning came from interaction with Traders on daily basis. A typical day will start at 7 am involving reading what happened overnight through Reuters and Bloomberg and preparing a report for the traders. The active interaction with the trader comes by seating along with them during trading hours to understand how market moves and how the deal is executed. Post London market opening the focus shifts from trading to maintaining ones trading book. I learnt a lot about the trades executed while making a tool for generating Profit and Loss account for the Singapore desk trader's daily book keeping. Apart from this daily routine I was given a few projects and asked to develop some tools which would assist the traders in decision making.