These traders are looking for hope

Bob Hope, on the Phone, circa 1940s-1950s

Make the trading floor great again.

Bloomberg News reports that that’s the mantra among power and gas traders from London to New York and Houston after another lackluster year for bonuses against a backdrop of strict post-financial crisis rules.

Average incentive compensation for traders at banks, hedge funds, utilities and trading companies has slumped on both sides of the Atlantic since the 2008 financial meltdown. Speculative trades that can generate large profits have been limited under the so-called Volcker Rule in the U.S. and other regulations.

Yet some believe another heyday for traders may be around the corner. Commodity recruiters surveyed by Bloomberg News say a lighter approach to regulation by U.S. President Donald Trump’s administration could usher in a new era in energy and commodity markets by unshackling traders looking for bigger risks and bigger paychecks.

“People are looking to 2017 for hope,” said Jason Kennedy, chief executive officer of the Kennedy Group in London, which hires for banks and hedge funds. “With Trump coming on board, possible deregulation, including removing the Volcker rule, everyone’s got their hopes pinned on this.”

Hit the link below to access the complete Bloomberg News article:

Stung by Smaller Bonuses, Energy Traders Hang Hopes on Trump

Deutsche Bank Said to Face Regulatory Fines Over Currency Trades

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts