What is a Head Trader?
Head traders have to be licensed, which means they have to pass at least one relevant exam administered by FINRA. There are several exams that can make a person eligible to become a head trader, and the correct one depends on the nature of the trading (i.e., commodities, municipal bonds, stocks, etc.). The most important thing to understand about head traders is that they are responsible for the actions of every other trader who works for them.
How Does a Head Trader Work?
For example, if John Doe is the head trader at Company XYZ, he supervises the other traders, ensures that all the trades are compliant with local and federal regulations, and is responsible for ensuring that Company XYZ's trading department is making money for the company.
Why Does a Head Trader Matter?
A head trader manages the trading functions of a financial institution.
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