INDUSTRY S2: The Big Block Trade - Analysed

We're breaking down the big block trade of Industry season 2, episode 2, where Rishi sells 75M Rycan shares to the hedge fund led by Jesse Bloom. Does the execution of the deal make sense? And who's winning here?
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KEY FINANCIAL CONCEPTS
👉Block Trade
👉Sales & Trading
👉Trading lines and counterparties
👉FX Trades
👉Trading book
TIMESTAMPS
00:00 Only a few minutes left to place the Rycan shares
00:50 The details of the deal
02:00 Key meeting with a hedge fund on the tennis court
03:30 Initiating the transaction & Negotiating the price
04:09 Confirming specialist interest through the FX desk
05:24 Closing the Rycan deal with the hedge fund
06:43 Position in Rishi's trading book
07:30 Actual PnL for Rishi's trading book
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ABOUT INDUSTRY
Industry gives an insider's view of the blackbox of high finance following a group of young bankers as they forge their identities within the pressure cooker environment and sex and drug-fueled blitz of international bank Pierpoint & Co's London office.

[@EclipseCircle]

Nice breakdown. Just a little feedback: the background music make it hard to hear the dialogue from the show clips.

[@InvestOrama]

Noted! Really appreciate the feedback

[@MaverickEquityResearch]

Sounds promising (and not just because I play tennis and a big fan of ;), looking forward! Thank you!

[@InvestOrama]

Hope you enjoy it! The conclusion might be that you shouldn't trade $3bn without screens from your tennis court... let's see

[@aquilamaidi2980]

Thank you for breaking it down🙏 enjoyed the content

[@InvestOrama]

Glad you enjoyed it! I think next i'm going to discuss investment banking careers based on Industry - what do you think about that as a topic?

[@aquilamaidi2980]

@@InvestOrama I enjoy this segment because i am a retail trader. So to see how big institutions execute a trade was informative

[@dsjn358]

Compliance risk all over this, PnL or not, you’ll be walked out before the confirms go out.

[@InvestOrama]

You're right. But Pierpoint is different 😂
There are so many things that don't add up - but I still love the scene!

[@jamessky1741]

Damn. Thanks for the breakdown.

[@InvestOrama]

Glad you liked you'll find a few more on this channel

[@pranavjags4065]

Great breakdown ... Pierpoint really is unlike any other bank 😆

[@InvestOrama]

Or maybe it's like many banks 20-30 years ago?

[@GodotOfficial]

Compliance must be the easiest job you can have at Pierpoint because they did almost nothing at all throughout the show so far 😂

[@InvestOrama]

Haha yes. Do you think they exist?

[@User.A.M]

Wait. Compliance does anything?

[@InvestOrama]

Compliance would have it's collective head spin at Pierpoint!

[@spdandpwr]

Didn't we see compliance in the first season with the fx gaffe that Harper committed

[@InvestOrama]

@spdandpwr yes! It was middle office... Must have got fired at the end of the season 🤔