Yifei, Options Trader
Yifei obtained his Bachelor in Quantitative Finance from the National University of Singapore (NUS).
I head into the office during the week prepared to trade. We employ a very systematic and automated trading system; so, before the market opens, I make sure all of the risk and compliance checks are in place and across various system components to ensure they are ready to trade.
This requires an understanding of the entire trade cycle and interaction among different components. As I trade equity options across Asian markets, I need to be aware of nuances in each exchange and watch out for developments in the local markets. My focus is not fixated on just one single product or region, and I really enjoy being exposed to this diversity within the trading realm.
While I am closely watching trade executions and performance statistics, I also catch up on emails sent from other teams and regions at the same time. Citadel Securities is a globally integrated company where teams collaborate closely across regions. Such collaboration deepens and expands my product knowledge.
I enjoy catching up with colleagues over lunch. It’s a great opportunity to take a break and learn what they’ve been working on. Because Citadel securities offers lunch at the office on a daily basis, it makes it even more convenient to get together with colleagues.
The market re-opens at 1:00PM, so I am always back to my desk by then. As a trader, I need to monitor trade executions, risk parameters and performance whenever the markets are trading.
A key differentiator at Citadel Securities is that I don’t need to focus on one single trade as the system engages on numerous trades at the same time every day. This is very different from the traditional voice trader who only engages with a handful of large-size trades daily. Instead, my task is to monitor trading at a higher level by analysing various indicators to spot-check for any irregularities.
Hence, my team conducts extensive post-trade analysis to understand where there may be areas for improvement in regards to performance and risk-control from a statistical point of view. Subsequently, I will brainstorm and implement changes to the system by optimising parameters before analysing the impact of these changes again through my post-trade analysis. This is a very fast feedback loop as it takes only a few days to realise if these implemented changes are correct or on the right path.
I enjoy this nearly instant feedback and interaction from the financial markets as it helps me hone my analytical skills, as well as build my adaptability and resilience.
I will wrap up trading for the day by completing a few end-of-day tasks. At Citadel Securities, we constantly push to improve our productivity by automating repetitive and manual tasks. I’ve built various tools and scripts for the purpose of analysis to help my team identify and focus on resolving issues. With this automation, traders are free from manual work and can focus on more important, strategic and interesting projects.