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Graduate inter-dealer broking roles explained

Inter-dealer broking: graduate area of work

Inter-dealer brokers act as intermediaries to help corporate clients buy and sell financial instruments.

Instead of making numerous phone calls to other banks to find out their prices, customers can make one phone call to a broker who knows the best price.

Inter-dealer brokers establish a venue where clients can buy and sell financial instruments (such as bonds, equities, etc). Clients are normally corporations – for example commercial or investment banks – rather than individuals.

At its heart, inter-dealer broking is a people business: communication skills are essential to building good relationships with clients and generating business, so you will need to be outgoing and sociable.

The broker acts as an intermediary, providing a pool of liquidity in which these market participants can buy and sell: they can discover prices for buying or selling and then execute their transactions.

Instead of making numerous phone calls to other banks to find out their prices, customers can make one phone call to a broker who knows the best price.

Clients also use brokers to trade anonymously: if you disclose your identity and the other party believes you have an interest, they may adjust their price so it’s not the best one. If you go through a broker, you can remain anonymous until the point of execution.

Skills required in a graduate inter-dealer broker

  • Communication and interpersonal skills
  • The ability and energy to thrive in a fast-paced, demanding atmosphere
  • An interest in financial markets
  • An understanding of the market you operate in
  • Emotional intelligence

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