Derivatives trader 2.0: Sun is setting on old-school risk-takers

Traders of the lost art

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The words would chill any trader to the bone – partly because of the message, and partly because of the man speaking. Sitting forward in his chair, arms resting on the desk in front of him, the head of securities at one of the world’s big dealers is talking expansively about the future of the derivatives business, and what it means for the massed ranks of sales and trading staff on the building’s lower floors.

“A lot of them won’t make it,” he says, matter-of-factly. “This is not going to be a c

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