I really doubt that, trade capital and relationships are what define those houses, not their tech stack. Some of them are already pretty advanced from an in-house development perspective and could compete with the best of commercial-ready in the market trading platforms and data sources.
Most exchanges are public companies and they do much more than provide a simple marketplace for investors. Exchanges used to be owned by their customers but many of them “de-mutualized” years ago.
LSEG, ICE, NASDAQ also have major data and software businesses that generate significant revenues.
People can have a variety of different comfort levels with different kinds of risk. You’re suggesting that someone should consider a slightly lower salary + future possible earnings on options as equivalent to slightly lower salary + future possible earning on options - risk of loss on early exercise. Some people work for startups, some are angel investors, there is some overlap but it’s not 1:1 and it’s because those are different types of risk.
Have you read up about the world of commodity trading at all? I imagine you’d be interested in the book The World for Sale if you haven’t already read it. Interesting combination of market structure, fraud and geopolitics.
I partially disagree. Assuming you are majoring in something that has some positive ROI and do enough to actually graduate, which isn’t hard at most colleges, the party experience can be very supportive of most people’s future careers.
The social skills, networks, and alumni connections you build at college are a large fraction of the benefit that college gives the average person to further their career.
Otherwise, I agree. College is a great time to take advantage of the time you have to change your network, generate new ideas and take risks. And I also agree that most there can be benefit (though highly unlikely) for some people to not attend college or to drop out.
This already happens in some places. For example, in Houston, HOAs and other neighborhood management districts will contract with Constables to have a dedicated deputy in their neighborhood with a separate contact number. Others will contract with armed private security to patrol their neighborhoods as well.
Also, this is how people use the police already. They call them when they are annoyed with their neighbors, the infamous woman in Central Park that was covered heavily in the news this year comes to mind.
There's a lot in this article, but one of the key points is that in addition to their upstream and downstream competencies, the largest oil companies (excepting Exxon and Chevron) are also extremely successful at trading commodities, including oil, natural gas, and more importantly biofuels and electricity. As these companies attempt to manage the energy transition, they see trading as a way to juice the profitability of renewable projects.
> As BP shifts its investments from fossil fuels to renewable energy, its traders will help it juice the relatively low returns on those investments, Bernard Looney, who last year succeeded Dudley as CEO, said in a presentation to investors in 2020. Renewable energy projects typically generate returns of 5% to 6%, he said, but the company’s expert traders can add about 2 percentage points to that.
Niche, but very important to participants in the market. There is a growing industry of cargo and vessel tracking SaaS solutions (including https://Vortexa.com)
They can easily switch to other retail power providers. There are other services in Texas that you can subscribe to that will automatically switch your retail provider based on whoever happens to be providing the best deal on any particular day.
Most of the data on Bloomberg or any other market data terminal is going to from another data source. Either from an exchange, ratings agency, SEC reports, price reporting agencies, etc. They’ll also have proprietary data that are exclusive to their platform.
There are lots of industry alternatives to Bloomberg, such as Refinitiv Eikon, FactSet, CapIQ, etc. There is a lot of technical infrastructure required to be able to constantly provide real-time data with no downtime. Also, some data sets are in fact proprietary. For example, Refinitiv has a historical database that can’t be beat by competitors because they were literally the only ones that started recording the data as early as they did. Anyone else who claims to have an equivalent data set just won’t have the same amount to provide.