Perhaps a better solution is to cut front office people and team that don’t make money? When market was good, profits of trading went to pocket of trader but when market is bad, trading want other line of business to pay its loss? NO WAY!!! It is time to control trading’s front office headcount!
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Just wanted to clarify I'm not referring to anyone in specific. Just the back office methodology.
Exactly @2vhz, like everything else from India, the charts are fake or at least manipulated to show whatever is needed to be shown for justification. The SCRUM is one those meetings that really is a waste of time as it achieves very little other than everyone tooting their own horn. Nobody really listens to everyone's summaries and a followup in some kind of written form is required which also achieves very little. Just ask any manager who runs a SCRUM, does he/she really know what EVERYONE has done or is doing just by attending the SCRUMS?
@2xpz Total BS.
Back office teams make use of SCRUM which in turn make the teams very lean, avoid useless meetings, does not required teams to waste time generating status reports and distributing them. Also, there is no isolation as everyone share the knowledge and each individual team member is able to do the work of another team member.
You must be reading the productivity charts incorrectly.
https://m.youtube.com/watch?v=VRrMu7B1L2I
The costs are really in the hundreds of teams of Indians who run the back office with regular meetings and round the clock support of the systems that support trading and doing it in the most useless and least productive manner that always requires loads of man power and countless meetings.
Dude, there is definitely a over hiring problem on my trading floor. There are lots of MD hire more than what they actually need to make themselves look powerful. New guys from other companies did nothing but play politics ,and brought numerous phone meetings (mostly about trying to claim credits they don’t deserve) to pretend they are busy.