What does a Trading Assistant do?
Published 3 min read
A trading assistant is responsible for providing administrative and clerical support to the trading department of a financial institution. They maintain records, prepare reports, and reconcile accounts. They also process trade orders and confirmations.
Trading Assistant job duties include:
- Assist traders in the execution of trades
- Monitor trading activity and notify traders of any changes
- Maintain accurate records of trades and trade activity
- Prepare reports on trade activity and performance
- Research potential trades and provide analysis to traders
- Assist in the development and implementation of trading strategies
- Monitor market conditions and provide updates to traders
- Identify opportunities for arbitrage and notify traders
- Execute trades as directed by traders
- Provide support to traders during trading hours
Trading Assistant Job Requirements
A trading assistant typically needs a high school diploma, although some jobs may require postsecondary education, and must complete on-the-job training. Some employers may prefer to hire candidates who have experience in customer service or the financial industry. Although not required, certification from the Financial Industry Regulatory Authority (FINRA) may be beneficial.
Trading Assistant Skills
- Time management
- Organizational skills
- Communication skills
- Research skills
- Analytical skills
- Critical thinking skills
- Problem-solving skills
- Interpersonal skills
- Teamwork skills
- Stress management skills
- Flexibility
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How to become a Trading Assistant
A trading assistant is responsible for the administrative tasks associated with trading securities. They work in the back office of a broker-dealer and are responsible for maintaining records, preparing reports, and ensuring compliance with regulations.
The first step to becoming a trading assistant is to obtain a high school diploma or equivalent. Many broker-dealers require their employees to have at least some college experience, so it is recommended that you pursue a degree in business or finance. Once you have completed your education, you will need to pass the Series 7 exam in order to become licensed. After you have passed the exam and been registered with the Financial Industry Regulatory Authority (FINRA), you will be able to apply for jobs with broker-dealers.
When you are first starting out, you will likely be working under the supervision of a more experienced trader. In this role, you will be responsible for learning the back-office procedures and systems. As you gain experience, you will be given more responsibility and may eventually be responsible for managing a team of trading assistants.
If you are interested in becoming a trading assistant, it is important to be detail-oriented and have strong organizational skills. You should also be able to work well under pressure and have the ability to multitask.
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