The trading floor will also reflect the capital markets' activities of the bank. Typically, the floor is organized around equities, both cash equities, straight shares, and derivatives, and FICC, which stands for fixed income, commodities and currencies. Within fixed income, you'll normally see a distinction between government bonds, risk-free securities called rates, and corporate bonds called credit, and high yield, which used to be called junk. Within derivatives, you'll see swaps, futures, and options, and they'll probably be organized into either equity or fixed income groupings. Divisions here do change as the markets change and new products are established. For example, you wouldn't have seen credit default swaps prior to 1990. Sales require very strong communication skills whilst trading obviously requires heavy math skills. Again, the technical skills will depend on which desk you are allocated to. Maths is really important for fixed. Whilst you'll only need corporate valuation for equities