Up to 750 a day for commodities techies with Openlink knowledge
Investment banks, software vendors and energy trading firms are all still looking to hire for their commodities IT teams in spite of the current climate. However, techies with knowledge Openlink software are the real hot property at the moment.
We understand that the following firms all have an appetite to take on technology staff with commodities expertise at the moment: Barclays Capital, Deutsche Bank, Bank of America/Merrill Lynch, Eon, RWE, EDF Trading, Trayport and Openlink.
"We're seeing a lot of roles coming out of the energy trading houses in particular currently," says Nick Finlay, senior consultant, specialist financial markets at Harvey Nash. "While some investment banks are still keen to hire, it's becoming increasingly difficult for firms to secure sign off. For instance, one firm needed the global CTO to sign off a six month contract for an Openlink support position."
One recruiter tells us the roles at BoA/Merrill are particularly interesting: "They're building a risk-based commodities trading system from scratch, which is unusual as most investment banks' systems are based around Openlink. It's a bold move and an exciting proposition for any technologist."
Openlink specialists are usually employed on a contract basis, and have been immune to the 12-15% rate cuts inflicted on their contemporaries, according to Andrew Barber, head of strategic accounts at Hays Financial Technology.
"If one firm cuts rates for Openlink specialists, a competitor will welcome them with open arms," he says.
A survey by Harvey Nash says that a programme manager with Openlink experience can earn up to 750 a day, a project manager 650 a day and a business analyst/implementation consultant can haul in 600 a day.
Trayport, a provider of electronic trading systems in the energy space, is looking to grow its team from 111 to 138 by the end of this year. Openlink itself also has some opportunities.
Sempra Metals is also looking to take on "substantial" numbers of techies with commodities systems expertise, but this is largely as a result of a two-year system integration project after its takeover by Royal Bank of Scotland in 2007, say headhunters.
