06 Dec 2017 Bloomberg’s rising terminal count signals hope for the beleaguered bond trader
Life hasn’t been easy for Wall Street traders in recent years—their ranks were thinned after the last financial crisis, and regulations since the subprime meltdown have made their jobs less profitable (and thus more expendable). Traders’ employers have paid billions of dollars in fines for the dumb things they’ve said in chat rooms (and for, you know, trying to rig markets). And if that’s not enough, it has become fashionable for bank CEOs to talk openly about automating as much of their workforce as possible.
But there’s one important sign that sales and trading jobs may be on the upswing: the Bloomberg terminal count has risen this year to 325,017, up from 323,981 in early October. The financial data terminals are a mainstay for traders at banks, hedge funds, and investment firms, which is why it’s a rough proxy for hiring and firing trends in the industry. The count fell last year for the second time in its history, to 324,485, as banks tried to find ways to save money, according to consultancy Burton-Taylor International Consulting.
Read the full story here: https://qz.com/1147117/bloombergs-rising-terminal-count-signals-hope-for-the-beleaguered-bond-trader/