Equities
Our Equities division trains analysts to dissect a company's fundamentals and confidently argue an investment thesis in front of others. Working alongside the Head of Equities, you build the foundation in Autumn Term: fundamental and technical analysis, valuation through DCF and peer comparables, and a working understanding of how different markets behave. Winter Term is where you apply it. Analysts construct full stock pitches, defend them under scrutiny, and test their calls through chart simulations. The strongest pitches enter the society's discretionary simulated equities book, so your research carries a real position and a real result behind it.
Current Members
Recruitment cycle
Recruitment starting
October 2026
The application process is set at the discretion of the division heads and varies between divisions. Dates, format and requirements are announced on the
society Instagram.
Macro
Our Macro division gives analysts experience in analysing global macroeconomic trading strategies. You will learn how currencies, government bonds and interest rates move in response to inflation, growth and global events, through weekly one hour classes delivered by the division heads. We cover the function of a macro desk, the uses of FX markets and the role of central banks, before building towards debating your own macro views and expressing them as trade ideas in the subcommittee trading book. No prior knowledge is required. We are looking for students with a real interest which they can demonstrate.
Current Members
Recruitment cycle
Recruitment starting
October 2026
The application process is set at the discretion of the division heads and varies between divisions. Dates, format and requirements are announced on the
society Instagram.
Derivatives
Ready to actually be prepared for the trading floor? Join the Derivatives Subcommittee. You'll become part of an elite group of students where no prior experience or specific degree is required, just ambition. Don't worry, it's not calculus. Every asset is actually traded using derivatives, so this is where you learn how markets work in the real world. Level up through classes, interactive workshops, and competitions with unique prizes, and get a real edge on your career with spring week and internship prep through mock interviews and live trading simulations. And it's fun, trust us: a tight-knit, motivated crew with socials all year round. Forget the rest: this is the real stuff, and this is where it starts. Join us!
Current Members
Recruitment cycle
Recruitment starting
October 2026
The application process is set at the discretion of the division heads and varies between divisions. Dates, format and requirements are announced on the
society Instagram.
Commodities
Commodities are the physical goods the world runs on: oil, gas, metals and crops. This subcommittee is about how they get priced and traded. Across the term we look at why prices move, how supply and demand get tracked, and how traders build a view on a market and act on it, including the contracts used to trade commodities across energy, metals and agriculture. We also run events with people working in the industry. More to come soon.
Current Members
Recruitment cycle
Recruitment starting
October 2026
The application process is set at the discretion of the division heads and varies between divisions. Dates, format and requirements are announced on the
society Instagram.
Emerging Markets
Our Emerging Markets division gives analysts the chance to broaden the geographic reach of their commercial awareness and build a solid technical foundation. You will cover BRICS economies, Southeast Asia, Latin America, Central and Eastern Europe, the Middle East and Africa, following the developments that move these markets on a weekly basis. The focus of this subcommittee is practical. You will develop expertise in currency positioning, sovereign credit analysis and equity research in developing economies, alongside an understanding of the local dynamics. Expect weekly homework and open discussions. The term closes with an internal pitch, where you work in groups of two or three over a week to build a trade idea and present it to the subcommittee. Analysts leave with a strong read of emerging markets and a pitch that is ready for interview.
Current Members
Recruitment cycle
Recruitment starting
October 2026
The application process is set at the discretion of the division heads and varies between divisions. Dates, format and requirements are announced on the
society Instagram.
Credit
Our Credit division offers analysts a direct route into the full capital structure, spanning investment grade bonds, high yield, leveraged loans and fast growing private credit. You work closely with our Head of Credit to build, present and defend sophisticated relative value trades, pitching long and short ideas on real issuers and pricing risk the way an institutional desk would. The strongest ideas each week are taken into a live credit book that competes directly against the other divisions.
Current Members
Recruitment cycle
Recruitment starting
October 2026
The application process is set at the discretion of the division heads and varies between divisions. Dates, format and requirements are announced on the
society Instagram.
Advanced Trader · Equities
The Advanced Traders Programme (Equities) is for second year, third year and master's students looking to apply their skills in equity and equity derivatives research and execution. Members undertake weekly research, modelling and thesis formulation, which is then presented to the cohort. We trade a portfolio of our highest conviction ideas, publish our best research as it lands, and release a monthly State of the Market article alongside our FICC counterparts on the most pressing trends in the market as a whole. We aim to compete, and win, in as many competitions as possible, bringing high quality differentiated analysis whenever we represent the Trading Society.
Eligibility The Advanced Traders Programme is not open to first year students. Applications are for second year, third year and master's students only.
Current Members
Recruitment cycle
Applications are open
Apply now
Submit the form below. Shortlisted candidates are invited to interview by the programme heads, and anything else you need to know is posted on the
society Instagram.
Advanced Trader · FICC
The FICC Advanced Traders Programme builds a research driven approach while giving comprehensive exposure to Fixed Income, Currencies and Commodities across emerging and developed markets. Analysts develop expertise in global macro, learning the interconnected nature of these products alongside extensive training in the pricing and use of practical financial derivatives. Analysts regularly develop and present trading ideas, contribute to analytical discussions, and follow current events and their effects on markets. Working alongside the Equities programme, analysts contribute to a broader understanding of markets through shared research and the monthly State of the Market publication, bringing together perspectives across asset classes. The programme develops independent thinkers who can form their own market views, articulate their rationale, and turn them into actionable trades.
Eligibility The Advanced Traders Programme is not open to first year students. Applications are for second year, third year and master's students only.
Current Members
Recruitment cycle
Applications are open
Apply now
Submit the form below. Shortlisted candidates are invited to interview by the programme heads, and anything else you need to know is posted on the
society Instagram.
Events
The Events subcommittee organises everything the society puts on, from speaker sessions and industry evenings to socials and trading simulations. Members lead outreach to firms and speakers across the sector, from bulge bracket trading desks to proprietary trading firms and hedge funds, and take each event from initial contact through to delivery. We are looking for committed and well organised students who are enthusiastic about creating memorable events and who bring fresh ideas to how they are designed and run. Along the way, members can interview the speakers they help bring in, build a strong professional network across the industry, and learn directly from practitioners working in the field.
Current Members
Recruitment cycle
Recruitment starting
October 2026
The application process is set at the discretion of the division heads and varies between divisions. Dates, format and requirements are announced on the
society Instagram.
Programme · 2026 / 27
Events & Competitions
Every year the Trading Society improves and adapts its programme of competitions, workshops and speaker events, to keep producing the best traders and salespeople to hit the floor.
Coming up
Michaelmas 2026 · TBC
FX Stock Pitch Competition
Format, prize and sponsor to come
Lent 2027 · TBC
Paper Trading Interdivision Competition
Divisions compete on P&L across a live paper book. Format and prizes to come
Rolling
Upcoming speakers loading…
Speakers confirmed by the sponsorship team surface here as they are secured
Past events
Autumn 2025
Dare Offices · Insight Day
Floor tour and Q&A at the Dare offices in London. Members only, 15 seats.
Autumn 2025
Poker Tournament Night · Susquehanna
£15 buy-in, £5 bounties, unlimited rebuys. Susquehanna merch to the winners.
2025 / 26
CME Group Trading Competition
Ten-day live trading simulation. Top 10 by P&L took prizes.
2025 / 26
Bull & Bear Pitch-Off Competition
Long / short stock pitches judged by buy side and sell side practitioners.
2025 / 26
Finance Accelerator Simulation · UBS / MS
Run with AmplifyMe. A cohort-based simulated trading programme.
Past Speakers
The people who came through
Recent speaker events. Drop in the banner images from Instagram to replace each slot.