Crédit Mutuel Arkéa’s trading room in Relecq-Kerhuon offers a serene environment where around thirty professionals analyze market data. Debunking stereotypes of reckless trading, the team focuses on responsible financial practices, including crafting savings products and managing assets. With a diverse workforce leveraging technology and economic insights, they navigate market fluctuations with agility. Key economists provide essential analyses, guiding clients through market movements influenced by central banking developments, all while maintaining composure in a dynamic setting.
Inside the Trading Room of Crédit Mutuel Arkéa
Nestled in Relecq-Kerhuon, perched above the stunning harbor of Brest in Finistère, the trading room of Crédit Mutuel Arkéa provides an awe-inspiring panorama. The atmosphere is serene, almost reverent, as around thirty employees diligently observe expansive screens displaying dynamic graphs and flashing data. “Many envision wild individuals taking reckless risks, but our purpose is fundamentally different,” shares Nathalie Le Scao, a sales professional within the financial markets division, addressing the misconceptions surrounding market finance.
The trading environments of major financial institutions often evoke a mix of intrigue and trepidation, driven by tales of flamboyant traders and market meltdowns. Businesses focused on exports seek out their expertise to alleviate the strains of loans or to adeptly navigate the fluctuations of currency exchange rates. A specialized team is tasked with crafting savings products, while another segment is dedicated to borrowing from the markets and managing the bank’s assets “in a sound and responsible manner,” as Sandra Joly, head of Treasury refinancing and exchange at Arkéa, delineates while granting a rare glimpse into her trading room.
The Evolution of Trading Practices
“We don’t have a Leonardo DiCaprio here,” she quips, drawing a playful reference to the iconic film “The Wolf of Wall Street.” The hustle and bustle reminiscent of Paris’s Palais Brongniart and the days of shouting orders over the phone seem like a distant memory now. “The landscape of our work has transformed since the 1980s. Technological advancements have become integral to our roles, enhancing the security of our transactions,” Nathalie continues.
The team members, averaging under 40 years old, come from diverse backgrounds in finance, mathematics, computer science, and law, all drawn by the prestige of working in such a dynamic environment. “To thrive here, you must be able to manage a demanding workload within tight timeframes,” advises Nathalie Le Scao. “When market movements intensify, agility is key. While our days can be stressful, that’s part of what fuels our enthusiasm for this profession.” Unlike its larger competitors, Arkéa’s trading room is uniquely situated outside of Paris, with panoramic views of French naval submarines surfacing near L’île Longue. Notably, “we don’t engage in microsecond trading,” emphasizes Pierre-Alain Dassé, a member of Sandra Joly’s team. “Our focus is not on high-frequency trading.”
Expertise is a cornerstone of their operations, bolstered by the insights of four in-house economists. Chief economist Paul Chollet interprets the nuances of the European Central Bank President Christine Lagarde’s statements, which are streamed live online. “Market movement is often dictated by deviations from anticipated outcomes,” he explains. Alongside him, Rodrigue Mear tracks the euro’s value against the dollar and the borrowing rates of French bonds in real-time. A subtle remark from Lagarde regarding the economic implications of significant political events can sway the markets and influence Arkéa’s clients’ financing strategies. With extensive experience in ECB meetings, Paul speaks the intricate language of central banking fluently. His analyses, highly anticipated by colleagues, also translate into client notes and podcasts, showcasing the bank’s expertise. Above all, maintaining composure is crucial, Paul Chollet reminds, cautioning against “overreacting” to market volatility.