Take the Wheel

Bregman argues that it’s essential to remember that you often do have a say in what way your career will go, even when you might not think so. Hiding in the shadows after a less than stellar performance isn’t the right way to go about it though. Despite weak numbers, the spin or analysis of the situation is sometimes the most important thing to your superior. “Make sure to have a conversation with your boss about it, before they have a conversation with you,” he says. Taking the bull by the horns makes it clear to your superior that you’re well aware of his concerns and that you’re also unhappy with the situation. Offer up a strategy that will improve your numbers, if you can, or at least insulate the firm from further losses.

Be Clear

According to Bregman, it’s also necessary to make your case and explain why there’s been a bump in the road. While you can offer a quick analysis of the obvious market factors, you also need to make it clear that you’re not merely making excuses. “There needs to be some sort of rationale behind what you’re saying,” he says. While the outcome and performance in a quarter may not be what anyone’s looking for, you can still argue that you believe your strategy is good for the long-term, for instance. “What you’re asking for is that they stick with you,” says Bregman.

Think Strategy

Bregman says that motivation is really about developing a good strategy to handle a given situation. “You have to be motivated to sell your strategy to the boss,” he notes. You also need the “courage, fortitude and confidence” to back a strategy, that in the short term, doesn’t seem to be working. “You have to have a strategy that’s defensible.” But, adds Bregman, your strategy also has to sync up with the mindset of those in charge. “If you’re a trader with a long-term strategy and your company’s about the short-term, then you’re with the wrong company. Your trading style has to be a good fit for the organization.”

Don’t Be a Big Baby

One of the big things to avoid is complaining about the current state of affairs, says Bregman. Nobody likes a whiner, especially when everyone’s in the same boat. And, the constant complaining can also get you into a negative mindset that won’t help to get you motivated. Instead, says Bregman, keep the focus on your established trading or business strategy. “Dispassionate intellectual honesty is what you need to have if you’re going to be a good investment banker or trader in the long-term,” he says. And while motivation is a great thing, Bregman also cautions against being overly motivated. “It’s dangerous to develop false emotional positivity,” he notes. “You need a strategy to be effective in a variety of situations and scenarios.” Bregman argues that it can be career suicide when there’s a large gap between expectations and reality.

Know Thyself

Staying motivated also requires a quick assessment of what got you into trading in the first place. Bregman breaks traders down into two categories—those only in it for the money and those who truly enjoy the ups and downs of trading. If you’re only in it for the money, it might be time to reconsider your current career path. “No matter who you are, it’s definitely frustrating to not be making as much money as you’ve made in the past,” he says. But it certainly helps if you like what you do.

Expand Your Horizons

It also pays to look at the various responsibilities you might have outside of your trading role. Break the job out into its various components and try to focus as much of your time as you can on what you do really well. If you’re trading for only a part of the time, and the rest of the time you’re involved in IT and management functions, then you might be more motivated when you pick up additional responsibility leading a tech implementation or supervising junior traders. And while it’s certainly important to not lose sight of your primary job responsibilities as a trader, it can certainly help insulate you from a future layoff if you’re seen as having a broad and important role within the organization.

As part of a new, client-centric approach to execution consulting called UBS Quant on Demand, the giant Swiss bank announced today it was launching a new algorithmic trading tool called “UBS QUOD Studio.”

At its core, the UBS QUOD Studio is an iPad® app that allows the bank’s algorithmic trading team members to collaborate with clients in order to rapidly design, simulate and develop execution strategies for trading in the securities markets.

“Our aim is to turn the process of product development and execution consulting on its head – making our platform client-centric and more immediate,” said Owain Self, Global Head of Algorithmic Trading at UBS. The first tool they’re launching is the quant on demand studio. Self says it delivers a next-generation, rapid algorithmic development framework. He adds that, over time, it will deliver a series of highly sophisticated and automated quantitative, consultative and personalized solutions to clients “on demand.”

Algorithmic Trading

Using a proprietary interactive iPad app, the UBS algorithmic trading team works with clients to design and build custom strategies that fit their specific workflow, view of the market and individualized objectives – a strategy they can use the next day.

Phil Allison, Global Head of Cash for UBS, said: “What makes QUOD Studio unique is that UBS is custom fitting our technology to meet client needs, not vice-versa. Traders can simulate performance of algorithms before they build them – so they can try ‘what if’ scenarios to see how the outcomes may change when various components and triggers are changed.”

Direct Execution

A traditional custom algorithmic development process takes weeks to achieve and consumes significant resources, so clients and brokers are less likely to undertake projects to build strategies that may not have broad, long-term applications. UBS QUOD Studio allows users to create strategies opportunistically and change their minds often. They can design strategies that serve a very specific short-term need, or strategies that fundamentally alter the way they trade in certain circumstances. This level of speed and flexibility has never been offered before. With the UBS QUOD Studio iPad app, a process that used to take months – requiring quantitative analysts and developers to code thousands of lines of commands and engage in weeks of testing and adjustments – is now possible in 24 hours.

This platform will be made available immediately for UBS specialist-driven client use in the Americas, Europe, Middle East and Africa. It will be made available across the Asia-Pacific region later this year.

While a UBS spokesperson refused to say specifically what this meant in terms of hiring, he did point out that the quant on demand tool is just the latest in an evolutionary process at the bank and that the entire technological trading environment in financial markets is a rapidly growing area that will be employing more quant and financial tech skilled employees in the future. In other words, quants and fintech employees will also be in demand for some time to come.