Tibra Life

Why did you decide to join Tibra?

I was friends with one of the Principals who set Tibra up. I had talked before about moving into derivatives trading, and the startup phase for Tibra seemed an ideal time to do so. I knew it was a challenging but rewarding industry and I wanted to take on a new challenge so I came on board with Tibra from the start as a rookie trader.

A day in the life...

• 7:30am arrive in the office, check overnight market movements and ensure technology is all set up correctly
• 8:00am market opens, often quite busy for the first hour or two
• 12pm lunch arrives
• If there's a slow time in the market you may get the chance to do some research or other administrative tasks
• 4:30pm market closes
• 5:30pm try to get out of the office and recharge for tomorrow

What do you like about Tibra?

Tibra is all about performance. You have the freedom to dress, work, and behave as you want, as long as it enables you to perform to your best and contribute to the team as a whole. The team is made up of highly motivated, reliable individuals who all enjoy a good laugh but also know when to get serious.

What is challenging about working at Tibra?

The need to constantly evolve and improve is a constant challenge, as is the expectation to perform. A high level of concentration is required to stay focused throughout the market hours, and a small oversight can result in significant losses. When the market is busy, you really have to be on your toes and stay focused.

Describe your first couple of months...

My first couple of months were some of the most challenging I have faced in my life. Learning option theory, new industry lingo and new technology – it really puts you in the deep end, but this is also where you can learn the most. It was important to ask lots of questions, and not to just nod your head if you didn’t understand something.

What training and support did you receive?

Training was fast and efficient. We didn’t spend time on anything that wasn’t going to be directly relevant once trading the markets. Support was available when required, but it was really up to the individual to push for assistance and ask questions, as there were no babysitters on call.

What was the selection process like?

For me, the selection process was unique in that I was a friend of a principal and invited to join as part of the startup operation. There is a more formal and competitive process now, however I am still of the opinion that personal referrals can be a valuable means of assessing a Trader’s competency that may not be achieved in a written test.

What skills and qualities do you need to enjoy working here?

You need to be competent with technology, have strong numerical skills (particularly fast and accurate estimation), have a good memory, be confident and be competitive. You can’t be satisfied with anything less than being the best, because there are no second prizes in this game.

What are your 3 top tips for people applying to work here?

• To pass the tests, practice basic math skills
• Trust your instincts
• Ensure you get the right answer first time so you don’t have to revisit questions

Why did you decide to join Tibra?

I had heard of the best people at other companies starting their own thing. I just want to work with the best, and with really motivated people.

A day in the life...

• I get in at about 8am and read up on emails. There are usually 10 or so from other people in my team who are working in Australia. We look after each other’s programs in the other regions and share a large piece of our code so we like to keep each other informed
• There will be an hour or so overlap between this office and Australia so we call each other some more
• In the morning I will work on one or two projects and get about five phone calls in between. These are requests for new functionality, questions about programs or people informing me that my software has bugs in it. Yes, that does happen … unfortunately
• We usually order lunch but do go out once in a while for pizza or something
• After lunch it’s working on projects, and usually dropping by on a couple of Traders to see how things are going, see if we can improve stuff or come up with new ideas
• There’s a bit of helping each other out or getting feedback on common code
• Every day, Nick will ring me to shout ‘proposal’. This usually implies that he wants to go for a beer later. The real meaning behind it depends on the day and his mood
• At the end of the day, I make sure that my changes to programs are sent to Australia so my colleagues over there can make use of it. And send an email about anything that’s worth mentioning, such as problems or interesting changes

What do you like about Tibra?

Being able to do interesting stuff, learning from intelligent people who are good at their job and really motivated and not being too tied down with bureaucracy.

What is challenging about working at Tibra?

There's opportunities for improvement everywhere. The challenge is to get the most out of each day I suppose.

Describe your first couple of months...

I actually felt right at home from the start. In a company of this size, you just know everybody and up to some extent what everybody is up to. The social aspect is a lot bigger than what I’ve seen in the city, that's probably because we’ve got a lot of foreigners here ... no one’s really set in their ways. For most people, London is still relatively new.

What skills and qualities do you need to enjoy working here?

I think you need to be pretty self reliant. No one is going to hold your hand and make things easy for you. Also, it does help to be somewhat sociable and not set on working within a big hierarchy. Just talk to everybody.

What are your top tips for people applying to work here?

• Read up on Hull ( the options & other derivatives book )
• Do some comparison shopping with other companies. Always a good idea and we come out on top anyway.

Why did you decide to join Tibra?

I wanted to be a part of something new where I could bring my experience into such a dynamic environment. I was also very taken by Tibra’s testimonial of what a “career at Tibra” would involve. It’s so different to all the financial institutions I had been a part of where I was just another cog in the wheel.

A day in the life...

• 7:50am arrive in the office, ensure all trading accounts are in order and ready for another day's trading
• Go to the recreational room to have my breakfast
• From 8:00–11:30am work on the Daily P&L reports for all the trading desks
• 12pm lunch arrives
• The afternoon is spent solving issues around building an operational risk department, and putting in place structures and policies to ensure a very solid foundation for the unit
• 3pm hit the gym for a workout
• 4:30pm the market closes save the expected P&L for Australia
• Continue work on any of the many projects that the risk team is implementing...
• 5:30-6:30pm home time

What do you like about Tibra?

The environment and the willingness of all the employees to help in getting the job done. Also the accessibility to all the directors and senior staff.

What is challenging about working at Tibra?

The environment supports people to give 100% and I suppose I challenge myself to give that as well.

Describe your first couple of months...

The first couple of months were very challenging as I had never worked in an environment such as Tibra where I wasn't being micro-managed, and where my thoughts and ideas were taken on board. I suppose you can say that I had become institutionalized and coming to Tibra I had to forget that and start seeing the bigger picture and become a part of the growth of such an exciting company.

What training and support did you receive?

I received on-the-job training from the Directors and they were always available to help, no matter how small my problems.

What was the selection process like?

I was interviewed twice, once by HR and the Head of Finance, then by one of the Directors.

What skills and qualities do you need to enjoy working here?

You need the ability to step-up to any challenge, and be able to see it through all perspectives.

What are your 3 top tips for people applying to work here?

• Ensure you are self-motivated
• Be willing to step out of your comfort zone
• Start enjoying work!

Why did you decide to join Tibra?

Tibra sounded exciting & challenging, suited my interest in the finance industry, and had a relaxed atmosphere.

A day in the life...

• Arrive 10am, fix some breakfast
• Look at what happened in other markets overnight and how this might affect my position, and set up for trading
• 12pm-2:30pm trade the Hong Kong market
• 2.30pm market breaks for a 2 hour lunch
• 4.30pm–6.30pm trading the afternoon session
• 6.30pm–7pm end of day administration

What do you like about Tibra?

Tibra has a flat structure and it is easy to get your efforts recognized, unlike a bank graduate program from what I hear.

What is challenging about working at Tibra?

The speed of decision making & execution, complex relationships between financial instruments & minimizing mistakes in your own activities.

Describe your first couple of months...

I started as a Trader's Assistant, learned a lot about the business & then undertook 'trader training' which gave me the knowledge I needed and the skills to trade. Now I am trading & enjoying it a lot. There is more to learn every day to increase profitability.

What training and support did you receive?

My group went through the 'trader training' which consisted of 4 weeks of theoretical and 4 weeks of practical and simulated trading. Trader training was taught by a Director in a small class atmosphere, so there was plenty of personalised training available.

Again the flat management structure means you have access to experts all around you every day. Asking questions & exploring possible improvements in the current processes is encouraged.

What was the selection process like?

It was thorough – maths, IQ tests & a subsequent interview. It was challenging but necessary as they test for the skills that you employ daily. Tibra gave information on your progress promptly, which I really appreciated.

What skills and qualities do you need to enjoy working here?

Mathematics skills, lateral thinking, concise communication & a lot of energy! Knowledge about computer systems (knowledge of servers, links, databases) would also be useful but is not essential.

What are your 3 top tips for people applying to work here?

• Be prepared to learn at a fast pace
• Read about options/derivatives to ensure this interests you
• Don't buy any formal business clothes

Why did you decide to join Tibra?

I wanted to be a Trader, and work in a fast-paced environment in a new and dynamic company.

A day in the life...

• 7:30am arrive in the office. I check my e-mails, read the market news and check that the trades from the previous day were correctly booked in my accounts
• 8am European markets open. I start to trade gradually and I use Bloomberg to get various market indications. I also discuss any wrong booking in my accounts with our clearing firm
• 9am breakfast arrives on my desk
• 12:30pm lunch arrives on my desk. Trading becomes more quiet, so I have time to discuss technical or trading problems encountered in the morning with our support team and other traders
• 2:30pm US markets open. Trading is getting much more active, this is the busiest time of the day
• 4:35 European markets close. I check my positions, I calculate my P&L for the day, and then discuss any problems during the afternoon with other Traders and our support team
• 5:30 end of the working day. I chat with colleagues, either in the office or in the pub

What do you like about Tibra?

Tibra is a fast growing company, the people are energetic and there is no need to wear a suit. This is a very friendly atmosphere. We get a lot of independence, new ideas are welcomed and tested quickly. We all work well together. It is also nice to see the Directors trading and sitting with us as opposed to having their own separate office.

What is challenging about working at Tibra?

Everything - that is what keeps it interesting, motivating and fun.

Describe your first couple of months...

The first couple of months I traded with small volume and under the supervision of Senior Traders. Every day after trading, I was doing exercises with different Traders to increase my knowledge in the area and to get to know our trading platform. I gradually got exposed to different products and got more independence and required less supervision from Senior Traders.

What training and support did you receive?

There is 4 weeks of theoretical and 4 weeks of practical and simulated trading. I received an extensive 2 weeks training course in Sydney where I was taught the basics of trading, then back in London I watched a Senior Trader for a week asking him any question I wanted to ask. When I started to trade on my own, I had daily feedback on my performance to recognize and learn from my mistakes.

What was the selection process like?

My selection was firstly based on my CV, then I took a numerical and logical test (30 minutes each), which was followed by an interview with HR where behaviours and my background were discussed, and then another interview with two Senior Traders, which covered trading questions and motivation.

What skills and qualities do you need to enjoy working here?

Be able to work under pressure throughout the day, to enjoy communicating and to be level-headed and controlled.

What are your 3 top tips for people applying to work here?

• Being quick with numbers is a must (if you want to trade)
• Have good knowledge of trading (how to hedge an option for example)
• Be creative

Why did you decide to join Tibra?

I wanted to get into the finance industry and I was really keen to be part of such a new and exciting company.

A day in the life...

• 9:00am Breakfast!
• I like to start the day by getting some breakfast from the kitchen and then going through my emails..... Then I usually plan my day so I can keep on track.
• At the moment I am working on a few projects, including AFS compliance, audit planning, year-end financial report preparation, shareholder administration, and other ad hoc projects for the CFO.
• Lunch arrives between 12:30pm and 1:00pm – time to refuel and take a break. It is very convenient having so many shops at Bondi Junction, oh and also the gym!
• Every day brings new and challenging work, and at the moment I am concentrating on shareholder entitlements. However, most afternoons I do a lot of research on accounting standards, corporate responsibility and compliance.
• 5:45 – 6:15pm Time to call it a day...

What do you like about Tibra?

I like the relaxed working environment and the accessibility to so many talented people for advice and information.

What is challenging about working at Tibra?

Tibra is a relatively new company and it is continuing to expand. This raises numerous accounting and compliance issues, which are challenging to research and resolve.

Describe your first couple of months...

I have been with Tibra for a short time, and so far the work has been challenging and interesting! Tibra is very unique and I still have a lot to learn about the Company and the industry in which it operates. It has a very relaxed working environment, but it is professional at the same time. Everyone here is motivated to do their best for the Company.

What training and support did you receive?

So far I have had training on the software that I will be using to produce the financial statements, and I have had lots of support from both the finance team & the CFO. I am looking forward to receiving a lot more training and support in the near future!

What was the selection process like?

I am originally from Western Australia.... Initially I had a phone interview with HR, this was followed by a phone interview with the CFO, and then I had a video conference with the CFO and HR.

What skills and qualities do you need to enjoy working here?

You need to be motivated, be ready for anything and be a team player.

What are your 3 top tips for people applying to work here?

• Do your research
• Show how your passion and skills will benefit Tibra
• Be confident in yourself

Why did you decide to join Tibra?

I wanted to work in a company with people who were excited about their job and who wanted to be the best, without the constraints of the standard corporate environment. Tibra is expanding very quickly so it's an exciting company to work with.

A day in the life...

• 9:00am: Arrive at the office. Check overnight movement on the markets, economic news, company research, and run processes for our Japan and Australia trading teams in preparation for the opening. Have breakfast sometime during this.
• 11:00am: Japan market opens. Begin communicating to brokers, quoting prices, advising traders in the direction of the markets, seeking profit opportunities and executing trades.
• 1:00pm: Market closes and lunch arrives. Catch up on emails and general admin. Talking to traders about how to improve certain processes, implementing changes, and perhaps a game of pool.
• 2:30pm: Japan market opens again and the trading with brokers continues.
• 5:00pm: Japan market closes. Run some more processes for the trading teams.
• 6:30–7:00pm: Finish for the day.

What do you like about Tibra?

The company is about producing results - there is much less bureaucracy and hierarchy than other companies. It's the norm to wear shorts and thongs, but it’s also the norm to perform at your best. And your performance gets rewarded accordingly.

What is challenging about working at Tibra?

Working with many intelligent people means you always have to stay sharp and focused. The biggest challenge is that you are challenged every day - it’s not a job you can come in and run through the motions.

Describe your first couple of months...

The first couple of months were a constant learning experience. The industry language and the theoretical aspects of trading were relatively foreign to me so it was quite challenging. There were also lots of social functions which helped getting to know other staff.

What training and support did you receive?

In my case I was given only minimal training at the beginning to enable me to get started in my role as soon as possible, and then it was really a case of learning through experience. There was always support available from the traders I work with, but you are expected to take the initiative and ask questions.

What was the selection process like?

After applying I was invited to sit the numerical and logic tests. After this I was interviewed by two senior traders, which was was very informative. The interviewers were very direct and concise in their questioning, and expected the same in return.

What skills and qualities do you need to enjoy working here?

You need to be strong numerically and logically, and with computers. You need to have drive and ambition, as well as being independent. Being a good communicator is also important.

What are your 3 top tips for people applying to work here?

• Practice mental arithmetic questions and logic tests. You need to be fast and accurate.
• Find out as much about the company, the industry, and trading generally as possible.
• Read up on derivatives texts.