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Derivatives Trader

Employer
CMC Markets
Location
Borough, South East London, United Kingdom
Salary
Competitive Salary
Closing date
Feb 13, 2024

View more

Job Role
Other
Sector
Finance
Contract Type
Permanent
Hours
Full Time
CMC Markets requires a Derivatives Trader to join the Derivatives trading team. This will primarily focus on Equity Index Derivatives but not exclusively. This will be a varied and fast paced role within one of the core strategic initiatives of the business. The individual over time will be required to acquire a deep understanding of market risk, managing a wide variety of instruments whilst adhering to the company's risk policy and capital constraints. This role includes covering the late shift (US session) multiple times per week. This is a mid-level seniority role where the candidate is expected to display some form of autonomy in managing a Derivatives trading book.

Key

responsibilities:

  • Trading role focused on pricing and hedging of Equity Derivatives.
  • Managing the associated exposures (Spot, volatility etc.) across the global trading book.
  • Monitoring financial markets, assessing potential risks to the book, proactively hedging them and communicating with those to the rest of the team.
  • Supervising the quoting engine, evaluating the quality of the quotes proposed to clients in line with regulatory and professional standards.
  • Overseeing operational elements of the book and liaising closely with middle and back office to resolve any issues.
  • Proactively designing and implementing processes to improve efficiency within the Derivatives pillar.
  • Liaising with support functions (Finance, Risk, Regulatory) on position reporting, analysis and PnL evaluation.
  • Contributing to the creation of solutions and tools to support the trading function.
  • Helping junior members grow within the Derivatives pillar.
  • Follow closely market changes and ensure the adequacy of CMC's own pricing.
  • Contribute to the hedging of the overall exposure of the desk.
  • Work with client facing staff to effectively and appropriately promote the Derivatives desk's offering with its target audience.
  • Monitor client flow and positions and understand the drivers behind the inherited risk and mitigate potential arbitrage opportunities.
  • Work alongside Derivatives Quants to develop and back-test new risk management strategies.
  • Work with Derivatives Development team to implement pricing and risk components; improve automated tools to aid monitoring and alerting in relation to key trading metrics (PnL, Volumes, Exposures etc). and provide quality assurance to system changes before their release to live environments
  • Generate future enhancement for the solutions used by the desk, to ensure that all required functionality is in place to maximise revenue efficiency
  • Be able to interpret and present data. Help compile monthly P&L reports for management
  • Adhere to compliance and company procedure
  • Knowledge of Derivatives (Futures and Options) products and a thorough understanding of the infrastructure and procedures required to derive prices as well as the exposures embedded within those products.
  • Be a point of contact for other departments including Operations, Trading Applications Support, Business Intelligence, Customer Services and Sales

Key Skills and Experience
  • A graduate degree in quantitative finance, mathematics, computer science or equivalent disciplines
  • Strong analytical and quantitative skills
  • 3 to 5 years of experience as a Market Maker, Flow Trader or Quant/Algo Trader, preferably in Equity Derivatives.
  • Excellent knowledge of general financial products, including but not limited to futures and options
  • Strong experience with Excel, VBA and Python.
  • Strong communication skills and ability to multi task
  • Knowledge of Bloomberg information systems.

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