Quote Requests Training

Capacity

You act in the role of a trader/broker-dealer.

Task

You can start the way you please. Transact whatever you like, the way you like. At a certain stage you will be challenged. You will have to perform tasks to see whether and to what extend you can perform under pressure and whether your have a feeling for numbers
You’ll be called via telephone to provide a client or peer various requests for quote (RFQ). Upon receipt of such a request, you will have to submit your quote. Any quotation has to consist of both a bid price and ask price, whereby a maximum bid-ask spread applies.

Objective

The aim of this simulation is to assess your skills as a trader and, thus to see whether your competences are fit for purpose.

Conclusion

At the end of the simulation you will be shown the score reflecting some of your capabilities. See how you have done. To assess your performance the following rules are considered:

• YOUR BID price must be lower than YOUR ASK price.
• YOUR BID > MARKET BID minus the MARKET Bid-Ask Spread (at the moment of submission).
• YOUR ASK < MARKET ASK plus the MARKET Bid-Ask Spread (at the moment of submission).

Traders’ competences can be modeled by FAUC (Framework for acting under uncertainty and complexity). Traders have to be creative, resilient, adaptive, alert and entrepreneurial. In addition, they have to have a feeling for numbers and be good in calculating. Besides, traders have to be decisive, they should be daring to make decisions, under pressure, and, thus, in a timely manner.