Why techies should work on cross-asset trading platforms if they possibly can

Investment banks are increasingly looking to recruit technologists to develop cross-asset trading platforms, and now is a good time to get in on the act.

The issue of banks developing platforms that can trade across multiple asset classes has been on the debating table for some time now. Goldman Sachs, for example, was waxing lyrical about their ability to save costs and optimise workflow back in 2009 in the wake of shrinking IT budgets.

But, as we've alluded to before, there are significant stumbling blocks to widespread adoption of this strategy, despite the likes of BarCap, Deutsche Bank and Goldman all offering these platforms. This is changing.

"Banks are realising the cost-savings of building systems and platforms that can deliver services across a number of asset classes, rather than having siloed development teams working on similar products across the organisation," says Paul Elworthy, director, IT banking and finance at recruiters Hudson. "Strong technical skills - such as C++, C# or Java - are key, while clients are being flexible on business knowledge requirements."

It's this flexibility, rather than demanding techies come armed with a vast array of asset class experience, which is keeping salaries in check. According to recruiters, a developer working on a cross-asset trading platform can expect an 80-90k base, which is in line with other investment banking programming roles.

Still, money shouldn't be your main motivation. With more investment banks going down this route, getting experience under your belt early will improve your employment prospects down the line.

"Working on these systems is a great way to up-skill," says James Richmond, sales director at IT in finance recruiters Cititec. "From an individual perspective, gaining exposure to a broad range of asset classes makes you much more marketable, while employers end up with a highly-skilled workforce."